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Eurozone contracts
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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Posted in Currency News, Euros, Other Currencies, 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, dollars, UK Pound Sterling, US Dollars, US Markets, World economy
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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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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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World leaders agree trillion dollar aid deal
World leaders yesterday agreed on a $1.1 trillion injection of financial aid into the global economy, with Gordon Brown claiming that the grand bargain he had brokered represented “a coming together of the world” which would speed recovery from the…
Posted in Currency News, Euros, Financial News, Other Currencies, UK Pound Sterling, US Dollars
Tagged currencies, currency exchange, currency information, Currency News, currency trading, European Markets, G20, Gordon Brown, Other Currencies, PMI Construction, PMI Manufacturing, Pound Sterling, Spain's National Statistics Institute, UK Markets, US Dollar, US economy, US Markets, World leaders
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