Apr
30
Pund pushes up against EUR and USD
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May day is normally a day of left wing protest around Europe and this year the Greek protesters will have something to focus on, the scale of the protest may weigh on the Euro over the weekend, although a bail out next week should help the single currency.
Apr
29
Greece, portugal and Spain – who is next?
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Whilst the UK media spent yesterday firmly encamped on a small patch of Lancastrian housing estate, market attention once again switched shores in light of some major revelations in the Eurozone, and the Fed’s meeting last night…
Apr
28
More Greece and now Portugal
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Greece’s fiscal deficit is a problem that will not go away, it seems that every summit and agreement just leads to more issues down the line. The response from the EU has been lacklustre, and uncertain, with a lack of clarity on when it could be used, how much it would be for, and what financial restrictions it would impose on Greece…
Apr
27
The demise of Greece … and the Euro?
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Greece’s credit rating hasn’t proved to be as resilient as the UK’s, and it’s credit rating has been downgraded several times so that it now has to pay huge sums to borrow money- we are talking about the sorts of interest rates that you see quick loan companies advertising in the back of newspapers. Greece’s issues are compounded by the inflexibility of its labour force to adjust to austerity measures leading to strikes and general unrest.
Apr
27
Mervyn King and the Maradona Theory of Interest Rates
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Mervyn King gave a very interesting speech last May to the Cass Business School, City University, where he said the following…
Apr
27
Understanding foreign exchange – The Bouncy Castle
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Foreign exchange is like a bouncy castle if each currency and even country represented a tube in the castle floor – you cannot put pressure in one area without it effecting A) The area with least resistance on it and B) To a lesser degree the rest of the castle.
Apr
27
Pound can’t hold it’s gains against EUR
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It seems that just as the parties want to stoke up the fears of a hung parliament, the markets themselves are becoming more sanguine about the issue. The speculative positions in the market, which were heavily betting on the Pound weakening over the election period, have slowly been drawn back in over the last four weeks, even as the prospects of a hung parliament look ever more likely. If the polls stay balanced up to the election next week, then it may test the relaxed stance of some investors…
Apr
26
The Euro falls further vs GBP
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The Pound has actually performed well over the last week, with not even last Friday’s weak GDP figure making much of a dent. The expectations were for a 0.4% growth figure, but with the poor weather in January the risks were that we would get a lower figure, and we did, with the initial estimate coming in at just 0.2%.
Apr
23
GBP down, and then up and then…
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The main news in the mainstream media is the fallout from yesterday’s debate, and with the popularity of shows like Dancing on Ice, X-factor and Britain’s got Talent, it’s perhaps not a surprise that everyone talks about the debate as a talent show, judging the leaders on performance rather than on policy as well as talking about who ‘won’ the debate.
Apr
22
Small firms ‘miss out on forex deals’ – Supplymanagement.com
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Research found that small and medium-sized enterprises lose between 1 per cent and 3 per cent on each foreign exchange transaction, costing them as much as £1,200 a time.