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Monthly Archives: April 2009
UK economy contracts 1.9%
The UK economy contracted -1.9% in the first quarter of 2009, more than economists expected with record declines in the manufacturing and service sectors. This news has sent the pound plunging against the dollar and euro as investors also remain…
Posted in Currency News, Euros, Financial News, Other Currencies, UK Pound Sterling, US Dollars
Tagged currency, currency exchange, currency ideas, currency solutions, currency trading, euro zone, Euros, swap currency, trade currency, UK Markets, UK Pound Sterling, uk pounds, US Dollars
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Euro climbs against US dollar
The euro has risen against the US dollar this morning with economic news from the eurozone showing the pace of recession easing in the last month. Yesterday market focus was on the pound with the UK budget and 6.7% unemployment…
UK budget released today
Foreign exchange markets will focus on sterling today with the annual budget released in the UK. Equity markets rallied overnight on the back of comments from US Treasury Secretary Geithner. This fuelled a bounce in currency exchange rates that failed…
Posted in Currency News, Euros, Financial News, Other Currencies, UK Pound Sterling, US Dollars
Tagged currency, currency exchange, currency ideas, currency solutions, currency trading, euro zone, Euros, swap currency, trade currency, UK Markets, UK Pound Sterling, uk pounds, US Dollars
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Euro at 5 week low
The euro is sitting at a 5 week low against the US dollar this morning as the single currency continues to be plagued by uncertainty surrounding ECB strategy. Larger than expected credit write downs at Bank of America yesterday reignited…
Posted in Currency News, Euros, Financial News, Other Currencies, UK Pound Sterling, US Dollars
Tagged currencies, currency, currency exchange, Currency News, currency solutions, dollars, ECB, Euros, New Zealand dollar, Other Currencies, Pound Sterling, Treasury Secretary Geithner, uk market, uk pounds, US Dollars, US Markets, Washington Post Consumer Confidence
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Euro hits one-month low against dollar
The CBI has predicted the UK economy will contract by 3.9% in 2009, more than twice the amount predicted by Alistair Darling late last year. The euro has reached a one month low against the dollar amid concerns that the…
Posted in Currency News, Euros, Financial News, Other Currencies, UK Pound Sterling, US Dollars
Tagged Alistair Darling, currencies, currency, currency exchange, Currency News, currency solutions, dollars, ECB, Euros, Pound Sterling, recession, uk market, uk pounds, US Dollars, US Markets
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Sterling gains on Euro
Better than expected jobless data in the US yesterday bolstered investor hopes of a tentative stability in the world’s largest economy. While economic data continues to be mixed, there is growing evidence the rate of decline is slowing in the…
Posted in Currency News, Euros, Financial News, Other Currencies, UK Pound Sterling, US Dollars
Tagged Aussie dollars, budget, cml, Council of Mortgage Lenders, currencies, currency, currency exchange, Currency News, currency solutions, David Blanchflower, dollars, Euros, Kiwi dollars, Morgan Stanley, MPC, Pound Sterling, RBNZ, uk market, uk pounds, US Dollars, US Markets
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UBS to cut 8,700 jobs
Switzerland’s biggest bank, UBS, has said it will seek to cut costs by shedding 8,700 jobs by 2010. The news came as the bank announced it had lost about 2bn Swiss francs in the first three months of 2009. UBS…
Posted in Currency News, Euros, Financial News, Other Currencies, UK Pound Sterling, US Dollars
Tagged currencies, currency, currency exchange, currency ideas, currency solutions, currency trading, Euros, FTSE, rics, Royal Institution of Chartered Surveyors, sterling, surveyors, Swiss francs, Switzerland, ubs, uk pounds, US Dollars, US Markets
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Cut in VAT ‘boosts retail sales’
The government’s much-criticised cut in VAT is working and has led to a big boost in consumer spending, according to The Centre for Economics and Business Research. CEBR says that the cut, which took effect on 1 December 2008, has…
Posted in Currency News, Euros, Financial News, Other Currencies, UK Pound Sterling
Tagged CEBR, Centre for Economics and Business Research, currencies, currency ideas, Currency News, currency solutions, currency trading, Euros, Ministry of Trade and Industry, pounds, retail sales, Singapore, US Dollars, VAT
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Eurozone’s GDP revised downwards
The eurozone economy shrank more than previously estimated in the last three months of 2008, figures from Eurostat say. Gross domestic product in the 15-nation area (the figures do not include Slovakia) fell 1.6%, not 1.5% as predicted. The drop…
Unemployment to reach 3.2 million
Business leaders have warned that UK unemployment will reach 3.2 million in the third quarter of 2010. The British Chambers of Commerce said its survey showed a “worrying deterioration” in manufacturing, with exports reaching 10-year lows. The BCC said one…