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.
Day one of the EU Leaders summit saw agreement to ease repayment rules for emergency loans to Spanish banks and relax conditions on possible help for Italy. Slow progress was made on creating a fund of €120bn to stimulate growth and create jobs across the region.
VIEW FULL ARTICLEMixed news for GBP - The Queen’s Diamond Jubilee provided a much needed boost for retailers according to a release by the CBI. The release revealed retail sales rose by 1.4% in May, the fastest pace of growth in 18 months, with nearly 60% of retailers reporting increased sales.
VIEW FULL ARTICLEThe UK’s current fiscal year continued its disappointing run as the Public Sector Net Borrowing Requirement widened to £17.9bn in May, up £2.7bn on a year ago. The higher deficit was driven by a fall in income tax receipts and a rise in social benefits payments suggesting weakness in the labour market.
VIEW FULL ARTICLESlight delay on today's update as we waited for the news flow from the UK Report Hearings and perhaps more importantly, the bond sale results for Spain and Italy.
VIEW FULL ARTICLEOn Friday EU leaders announced a €130bn (1% of EU GDP) plan for growth. This is the only tangible agreement that came out of last week’s heads of state meeting of the big 4 eurozone economies of Germany, France, Italy and Spain.
VIEW FULL ARTICLEThe balance of yesterday’s economic news did little to lift the mood among international investors. Indeed many reports are reinforcing the expectation that policy makers in many countries will take further supportive measures to boost growth and relieve financial stresses i.e. pumping economies with more money through measures such as quantitative easing.
VIEW FULL ARTICLEAfter three days of intense discussions, Antonis Samaras was finally sworn in as Prime Minister of the new-look Greek coalition government yesterday. The New Democracy party eventually reached agreement with the Pasok and Democratic Left groups, and Samaras vowed: “With God’s help we will do everything we can to take...
VIEW FULL ARTICLEThe UK CPI figures came in lower than expected. Inflation was generally expected to be stay at 3%, but instead fell to 2.8%. This is the lowest it has been since November 2009 and the first time it has fallen below 3% in nearly two and a half years.
VIEW FULL ARTICLEThe International Monetary Fund (IMF) is an organization of 188 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
VIEW FULL ARTICLEJust as the eurozone caught its breath from the Greek election result, the market’s focus rotated to Spain where borrowing costs surged to an unsustainable level. Spanish 10-year bond yields hit a euro-era high of 7.13% as investors feared Spain may become the fourth euro member to need a bailout, despite the recent...
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