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Unemployment Rises
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
Posted in Euros, Special Currency Offers, UK Pound Sterling, US Dollars
Tagged Asian currencies, bank of england, best rates currency, commission free currency, currency exchange, Currency Forward, Currency News, currency trading, European Central Bank, Euros, Interest rates, Japan, UK Pound Sterling, US Dollars, World economy
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Sterling hits year highs against Dollar
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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Posted in Company News, Currency News, Euros, Special Currency Offers, UK Pound Sterling, US Dollars
Tagged Asian currencies, Australian Dollar, bank of england, best rates currency, Buy Currency, Canadian Dollar, commission free currency, currency exchange, Currency Forward, Currency Future, Currency News, currency solutions, currency trading, European Central Bank, Euros, Japan, personal currency service, UK Pound Sterling, US Dollars, Yen
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Japans GDP contracts 4%
Japan’s economy has contracted by 4% in the first quarter of 2009, taking the annual rate of contraction to 15.2% as the strong yen and slump in global trade battered the Japanese export sector. The pound is trading at its highest level in 2009 against the US dollar and has strengthened against the euro and yen amidst the view that the UK is well placed for economic recovery.
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Posted in Company News, Euros, Financial News, Special Currency Offers, UK Pound Sterling, US Dollars
Tagged Asian currencies, bank of england, best rates currency, Buy Currency, commission free currency, Consumer Spending, currency exchange, Currency Forward, Currency Future, Currency News, currency solutions, currency trading, Euros, Japan, uk economy, US Dollars, US Markets, Yen
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US Retail Slumps
The risk rally lost momentum overnight as US retail sales figures declined by 0.4% in April. US retail sales figures are a crucial to wider economic sentiment as they are directly related to business confidence and import levels. Weakened growth predictions from the Bank of England and negative industrial production figures from the eurozone also dragged exchange rates downwards for the “riskier” currencies.
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Posted in Company News, Currency News, Euros, Financial News, Other Currencies, UK Pound Sterling, US Dollars
Tagged Asian currencies, Australian Dollar, best rates currency, Buy Currency, commission free currency, Consumer Spending, currency exchange, Currency Forward, Currency Future, Currency News, currency solutions, currency trading, Euros, Interest rates, Japan, personal currency service, uk economy, UK Pound Sterling, US Dollars, US Markets, Yen
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Eurozone lowest CP increase on record
Consumer prices in the eurozone slowed to a record low year-on-year increase of 0.6% in March, down from a 1.2% year on year increase in February, according to the Flash estimate released by Eurostat.
Eurozone inflation rate has never been this slow 1996 when records began. This is just the latest reason for the ECB to cut interest rates on the next monetary policy meeting on Thursday. Continue reading
Posted in Company News, Currency News, Euros, Other Currencies, Special Currency Offers, UK Pound Sterling, US Dollars
Tagged Asian currencies, Australian Dollar, best rates currency, Buy Currency, commission free currency, currency exchange, Currency Future, currency solutions, currency trading, Euros, Japan, personal currency service, UK Pound Sterling, US Dollars, Yen
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U.k House Price Drop Continues
The fall in UK house prices gathered pace in January, according to the government’s own house price index. Prices were 11.5% lower than in January 2008, an increase in the 10.2% annual fall seen in December. The price of the average UK property is now down to £195,724, a fall of £26,034 in the past year. Prices have been falling fastest in Northern Ireland, down 14.3%, and are still highest in London, where the average home costs £301,383. Continue reading
Posted in Company News, Currency News, Euros, Financial News, Other Currencies, UK Pound Sterling, US Dollars
Tagged Asian currencies, bank of england, best rates currency, Buy Currency, commission free currency, currency exchange, Currency Forward, Currency Future, currency solutions, currency trading, European Central Bank, House prices, Japan, personal currency service, uk economy, UK Pound Sterling, US Dollars, World economy, Yen
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US data better than expected
US data released yesterday showed better than expected retail figures for February, and Bank of America announced that they expect to operate profitably in 2009. This led to a surge in equity markets and a rise in risk appetite for investors with the MSCI world index making its biggest rally since November. Japan and China also signalled an increase in efforts to boost growth leading Asian and European equities higher.
Posted in Currency News, Euros, Financial News, Special Currency Offers, UK Pound Sterling, US Dollars
Tagged Add new tag, Asian currencies, Australian Dollar, bank of england, best rates currency, Buy Currency, Canadian Dollar, commission free currency, Consumer Spending, currency exchange, Currency Forward, Currency Future, currency solutions, currency trading, European Central Bank, Euros, Eurozone, German economy, Interest rates, Japan, MSCI, personal currency service, quantitative easing, Retail figures, UK Pound Sterling, US Dollars, Yen
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Eyes on MPC
Markets are anticipating the release of interest rate decisions from the Bank of England and ECB this afternoon. Both are expected to make a 0.5% reduction to the current base rate with quantitative easing looking likely for the UK economy in future. It is unclear as yet how this will affect the value of Sterling. Some economists predict added uncertainty will damage the Pound, while others maintain an end to rate reductions could provide support for Sterling. Continue reading
Posted in Company News, Currency News, Euros, Financial News, Other Currencies, Special Currency Offers, UK Pound Sterling, US Dollars
Tagged Asian currencies, Australian Dollar, bank of england, best rates currency, BOE, Buy Currency, Canadian Dollar, commission free currency, Consumer Spending, currency exchange, Currency Forward, Currency Future, currency solutions, currency trading, European Central Bank, Euros, Interest rates, Japan, personal currency service, uk banks, uk economy, UK Pound Sterling, US Dollars, Yen
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Market unease continues
Stock markets have recovered from their bout of extreme risk aversion with Sterling and the Euro trimming losses against the US Dollar overnight. Ben Bernanke warned yesterday that the US banking sector is yet to achieve stability and interest rate decision are due from the ECB and Bank of England tomorrow. The prospect of quantitative easing and more unconventional policy is fuelling investor uncertainty which is impacting on currency exchange rates. Continue reading
Posted in Company News, Currency News, Euros, Financial News, Other Currencies, Special Currency Offers, UK Pound Sterling, US Dollars
Tagged Asian currencies, Australian Dollar, bank of england, banks, best rates currency, Buy Currency, Canadian Dollar, commission free currency, currency exchange, Currency Forward, Currency Future, currency solutions, currency trading, European Central Bank, Euros, Interest rates, Japan, Oil Price, U.S GDP, uk banks, uk economy, UK Pound Sterling, US Dollars, Yen
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Risk Dominates markets
Risk trends remain the primary determinant of currency exchange rates this morning as the US cash injection for AIG yesterday renewed fears of institutional failure. Deemed too big to fail by the US authorities, AIG has received a further $30 billion in Federal funding and is now 77.9% taxpayer owned. Markets plummeted around the world on the back of this news sending the Pound and Euro to the bottom end of their trading ranges versus the US Dollar and Yen. Continue reading
Posted in Currency News, Euros, Financial News, Special Currency Offers, UK Pound Sterling, US Dollars
Tagged Asian currencies, bank of england, best rates currency, Buy Currency, commission free currency, Consumer Spending, currency exchange, Currency Forward, Currency Future, currency solutions, currency trading, European Central Bank, Euros, Eurozone, Interest rates, Japan, personal currency service, Retail figures, the pound, U.S GDP, uk banks, UK Pound Sterling, US Dollars, Yen
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