Check out our blog every morning to see the latest news that will affect your currency transfer rate, so you know what to expect over the coming day/week.
The UK unemployment figures are released this morning and it’s expected to remain frustratingly high. The issue is that the UK economy is simply not growing quickly enough to make any great headway into the unemployment number, which currently stands at 7.9%.
VIEW FULL ARTICLEAs large European gatherings go, the EU Summit on Friday was rather more productive than the usual watered down communiqué you get at the end of these events. The main success was the European Financial Stability Fund - the fund used to bail out Greece and Ireland – which was...
VIEW FULL ARTICLEIf only everything in life was as predictable as a Bank of England interest rate decision. The market had expected rates to remain on hold and the MPC did not disappoint - keeping rates at their historical lows of 0.5% for another month.
VIEW FULL ARTICLEMervin King and his MPC colleagues announce their interest rate decision at 12 GMT. Markets expect rates to remain on hold with the UK economy appearing too fragile to deal with higher rates just now. Whatever the committee decide, they are dammed if they and do dammed if they don’t,...
VIEW FULL ARTICLEThe USD has finally found its footing and regained a little strength on the back of a dip in the oil price. Risk appetite rose overnight, and the oil price fell, after Kuwait’s oil minister said OCEP, the Organisation of Petroleum Exporting Countries, members were discussing an emergency meeting that...
VIEW FULL ARTICLEThe Euro continued its recent revival yesterday, making further gains against both the Dollar and Sterling. Last week’s warning by Jean-Claude Trichet, European Central Bank President, that ‘strong vigilance’ on inflation was warranted, has provided the catalyst for a period of Euro recovery that has continued past the weekend.
VIEW FULL ARTICLEOne of the main driving forces in the currency markets at the moment are interest rate rises, who is going to be the first to start the move back to more “normal” rates. The euro has started the week well holding onto gains made following ECB’s hawkish comments last week.
VIEW FULL ARTICLEUnfortunately, we never quite managed to get a full run of upbeat purchasing managers index data, with yesterday’s service PMI coming in at 52.6, below consensus expectations of 54.3. Although it does still signal growth in the UK service sector it is sluggish and further underlines the fragility of the...
VIEW FULL ARTICLEWell, good old British manufacturing continues to power the fragile UK economy with the PMI manufacturing index remaining at 61.5, the highest recorded since the index began in the early 1990’s (Anything above 50 signifies growth).
VIEW FULL ARTICLEThe UK was once renowned for her world famous manufacturing expertise with achievements such as Concorde, the QE2, the Spitfire and the millennium dome (okay you can scrub the last one). The long term decline of the UK manufacturing base however seems to have been stemmed in recent times with...
VIEW FULL ARTICLE