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 US economy continued to grow last quarter but at a slower pace. GDP rose at an annual rate of 1.5%, down from a revised 2% in the previous quarter. The softening US jobs market and looming tax-policy changes prompted consumers to cut back on household purchases, which accounts for around 70% of...
VIEW FULL ARTICLEECB President Mario Draghi made his boldest statement to date and signalled that policy makers are ready to take action to defend Spain and Italy whose borrowing costs have spiralled to unsustainable levels. Speaking at the Global Investment Conference in London he pledged to do whatever was necessary to protect the eurozone...
VIEW FULL ARTICLEThe UK economy shrank much more than expected in the second quarter as unusually wet weather and an extra public holiday weighed heavily on output. UK GDP declined by 0.7% (consensus -0.2%) after contracting 0.3% in the first three months of the year. Although this release may understate ‘underlying growth’ in the economy...
VIEW FULL ARTICLEUK Q2 GDP came in at -0.7% rather than -0.2% - this has really knocked GBP of its perch with GBP/EUR falling to 1.2755 and GBP/USD falling to 1.5460 within seconds of the release.
VIEW FULL ARTICLEThe toughest cuts in its economic history saw Spain endure a third consecutive quarter of contraction as its recession deepened. The eurozone’s fourth largest economy shrank 0.4% in the three months to June, deeper than the 0.3% experienced in the first quarter of 2012.
VIEW FULL ARTICLEThe euro, the dream of many a politician in the years following World War II, was established in Maastricht by the European Union (EU) in 1992.
VIEW FULL ARTICLEEuropean shares fell and the euro hovered near multi-year lows after two Spanish regions said they would need aid, reigniting fears the country will become the fourth euro zone member to need a full international bailout. Ten-year Spanish government bond yields rose to a fresh euro-era high of 7.55 percent after a second...
VIEW FULL ARTICLEThe UK high street did not enjoy the anticipated boost from the Jubilee celebrations as the wettest June on record kept shoppers away. June’s retail sales volumes (excluding fuel) rose by only 0.3%, despite the extra bank holiday.
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VIEW FULL ARTICLEThe UK labour market defied the recession as the unemployment rate fell to 8.1% in the three months to May, a nine month low. The number in work grew by 181,000 making this the second consecutive month of good news.
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