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.
Angela Merkel scored a huge personal victory in the German elections in a stronger showing than expected. Merkel’s Christian Democratic Union (CDU) party fell just three seats short of that needed to achieve an outright majority in the Bundestag. Remember coalition governments are far more common on the continent.
VIEW FULL ARTICLEGBP has improved versus USD in 8 out of the last 11 weeks. This has been fueled by skepticism surrounding Carney’s forward guidance and a firmer recovery of the UK economy that is prompting investors to think about a rate hike sooner, at least sooner than the Bank of England expects.
VIEW FULL ARTICLEThe Dollar fell against most major currencies last night, after the Federal Reserve surprised the markets by announcing no reduction to its economic stimulus program - no tapering! The US dollar dropped to a seven-month low against the Euro and its lowest level this month against the Yen.
VIEW FULL ARTICLEYesterday the U.S. dollar fell versus most major currencies after news broke that former U.S. Treasury Secretary, Lawrence Summers had retired from the race to become the next chairman of the Federal Reserve.
VIEW FULL ARTICLEYesterday Euro area industrial production data showed a significant drop in July, by 1.5% versus the previous month, sending a negative signal for Q3 GDP growth. However GBP failed to make significant gains on the back of this news with GBP/EUR still hovering below the very significant 1.1900 level.
VIEW FULL ARTICLEYesterdays strong employment figures from the UK gave GBP a boost, particularly against USD with cable toying with the 1.5800 mark. The number of people out of work fell by 24,000.00 in the three months to July. The headline unemployment rate thus fell from 7.8% to 7.7%.
VIEW FULL ARTICLEWith no significant data releases for today the market is looking ahead to tomorrow's UK Claimant Count Change. Released by the National Statistics, it presents the number of unemployed people in the UK and has a tendency to influence the GBP volatility.
VIEW FULL ARTICLEFriday’s unemployment data in the US was mostly disappointing, with the economy creating barely 169K new jobs. The unemployment rate decreased to 7.3%, the lowest level in several years but perhaps not enough for the market to see significant tapering in the US and hence USD remains on the back foot.
VIEW FULL ARTICLEIt was a busy day on the markets yesterday as we saw the monthly interest dates from the Eurozone and UK as well as various figures out of the US.
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