Tag Archives: currency trading

U.K GDP Contracts 0.7 in Second Quarter

Posted on August 28, 2009 by admin

Revised second quarter GDP figures show the UK economy contracted -0.7% in the second quarter, slightly less than the -0.8% previously recorded. Economic and industrial confidence for the eurozone has come in positive this morning, while US personal consumption figures are likely to cause some currency volatility later in the day.
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Euro Rally Continues

Posted on August 27, 2009 by admin

The single currency has extended its rally against the pound this morning, gaining support from the release of the German consumer price index and consumer confidence figures. International risk appetite took a hit yesterday as US durable goods orders came in more modest than expected, and currency exchange rates for the yen strengthened in the run up to Japan’s general election. Continue reading →

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U.K confidence rises

Posted on August 24, 2009 by admin

An index measuring confidence among business professionals in the UK has risen the most in over two years, as speculation grows that the UK will end its recession in the third quarter. News that Thailand has emerged from recession and improved sentiment from Ben Bernanke led to gains in Asian trading overnight, with yen and US dollar foreign exchange rates falling as demand for the safe havens diminishes.
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Sterling Slides

Posted on August 21, 2009 by admin

The pound remains weak this morning as markets digest news of a record budget deficit in the UK. The euro continues to rally following positive PMIs for the manufacturing and service sectors and the Canadian dollar was boosted yesterday by a recommendation to buy from Goldman Sachs. Continue reading →

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US Earnings Figures Strong

Posted on July 16, 2009 by admin

Strong corporate earnings figures in the US and positive Chinese economic data supported risk and equity markets yesterday, sending currency exchange rates across Europe and Asia higher. The figures boosted market sentiment across the board and led to a US dollar selling session with exchange rates improving for the Pound, Australian and New Zealand dollars. Continue reading →

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Unemployment Rises

Posted on July 15, 2009 by admin

The UK unemployment rate has posted its largest quarterly increase, climbing to 7.6% in the three months to May. Consumer prices have fallen in the eurozone for the first time and international foreign exchange rates are likely to be subject to movements in US markets today, with consumer inflation, industrial production and the FOMC minutes due. Continue reading →

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Inflation Falls

Posted on July 14, 2009 by admin

The annual rate of inflation in the UK has fallen below the Bank of England’s 2% target for the first time in 21 months. Today’s calendar is packed with economic data that could cause a reshuffling of currency exchange rates that will potentially benefit some of the higher yielding currencies. Markets will focus on US retail sales figures and the producer price index out this afternoon. Continue reading →

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Interest Rates on hold

Posted on July 10, 2009 by admin

The Bank of England has voted to leave interest rates on hold and decided against expanding its quantitative easing programme, despite the downbeat outlook for the UK economy. Currency rates for the euro are stronger on the back of positive German economic data while the US dollar and yen have slipped following a small rise in risk appetite in the market.
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Eurozone contracts

Posted on July 8, 2009 by admin

GDP for the first quarter has contracted -2.5% in the eurozone, a figure in line with market expectations and one that takes the annual rate of decline to -4.9%. Exchange rates for many of the high yielding currencies are lower this morning, particularly the pound which is under pressure in anticipation of trade balance figures and the MPC interest rate decision due tomorrow.
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Sterling hits year highs against Dollar

Posted on June 1, 2009 by admin

Both sterling and euro currency rates are at their highest level this year against the US dollar as market sentiment continues to improve following news the pace of recession is moderating. This is despite news that General Motors, once the world’s largest auto manufacturer, is to declare bankruptcy later in the day. This week brings interest rate decisions from the Bank of England, European Central Bank and Australian Reserve Bank.
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