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.
Trading on the markets was dominated by escalating fears that Spain will need a bail-out package to support its banking sector. As investors went in search of safe-haven assets the USD seemed to be the main beneficiary.
VIEW FULL ARTICLEThe markets remain focused on Spain where press reports suggest that the ECB have rejected a €19 billion Spanish plan to recapitalise troubled lender Bankia by indirectly tapping the ECB for cash. Markets are concerned about Spain’s ability to rescue its banking sector without international help at a time of...
VIEW FULL ARTICLEWith a US Federal holiday and no economic data releases there was little to capture the market’s attention yesterday. Despite a recent bounce, sentiment surrounding the euro remains heavy with Spanish bonds coming under renewed pressure prompted by ongoing concerns over the banking sector.
VIEW FULL ARTICLEDespite the ongoing problems in the eurozone, US consumer confidence recorded its ninth consecutive monthly gain in May, rising to the highest level since October. American households effectively became more upbeat in response to an improved outlook for employment.
VIEW FULL ARTICLE-0.3% quarter-on-quarter. This reflected a downward revision to construction output while activity in the services sector was unchanged at a meagre 0.1% and manufacturing output was flat. Worryingly, this release showed that the UK consumer remains very cautious with household consumption up just 0.1% while government spending still made the...
VIEW FULL ARTICLEAs expected, the informal EU leaders summit over dinner yesterday evening did little to ease market uncertainty about the euro crisis. Indeed, the latest comments from French and German officials suggest it will be no small task to paper over major policy divisions. The European Central Bank's President Mario Draghi also stated that...
VIEW FULL ARTICLEThe Consumer price inflation(CPI) in the UK fell to 3.0% in April, down from 3.5% in the previous month. Although this was only marginally faster than the markets had anticipated (consensus 3.1%), this will come as relief to the BOE following last month’s rise in inflation. It is also of symbolic...
VIEW FULL ARTICLEThe PMI service released by the Markit Economic is an indicator of the economic situation in the Euro Zone services sector. It captures an overview of the condition of sales and employment. It is worth noting that the service sector does not influence, either positively or negatively, the GDP as much...
VIEW FULL ARTICLEThe Consumer Price Index is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of GBP is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends.
VIEW FULL ARTICLEAfter the weekend G8 summit, sentiment on the markets was a little more upbeat yesterday. Markets took some comfort from news out of China that indicated it would fast track approvals for investment in infrastructure projects to combat a slowdown in the economy.
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