Wednesday, 8 December 2010
Wednesday, 1 April 2009
New official blog launched for www.sendmoneyhome.org
This Blog and all of its contents have been moved onto the http://www.sendmoneyhome.org/ domain. The new web address is www.sendmoneyhome.org/blog. In addition to new blog, we have created a forum so you can discuss sending money overseas, discover money saving tips and speak directly to the members of the companies who offer money transfer services. The link for this is www.sendmoneyhome.org/forum.
Please feel free to continue to leave comments on this blog, but why not head over to the new services on offer?
Thanks for all of your support.
Huw
Please feel free to continue to leave comments on this blog, but why not head over to the new services on offer?
Thanks for all of your support.
Huw
Tuesday, 9 December 2008
Market Report Tuesday 9th December
Headlines:
· Dollar weakens as stock markets rally and oil climbs higher
· Global markets rally on latest US stimulus plans
· Sterling sees gains Mon but poor economic data Tues drags down the pound
· Oil gains on hopes US stimulus package will nurse US back to health
· Bank of Canada Rate Decision due today
US Dollar:
The dollar came under pressure again yesterday after stock markets soared amid a surge for companies likely to benefit from President-elect Barack Obama’s pledge to spend more on infrastructure. The US Congress and the White House inched toward a financial rescue of the Big Three auto makers, negotiating legislation that would give the US government a substantial ownership stake in the industry. Oil also jumped on the back of this. These combined factors dragged the dollar down against its major rivals, which saw a five cent drop posted against the pound to a week low. Against the euro we saw the greenback fall to its lowest level this month, which we can also attribute to the hope of an injections from Obama’s economic plans. This morning we have seen the dollar pull back some losses against the pound as weak economic data was posted in the UK.
Pound:
Sterling rallied against the dollar and euro yesterday, with cable gaining over five cents to hit $1.5048 and the pound picking up over a cent on the single currency. The cable move seemed to come as the stock markets rallied on the latest US stimulus plans. The Dow gained over 3% and FTSE 100 over 6%, dragging the dollar down and making sterling more attractive. As we can see this morning, we didn’t have to wait long for sterling to take itself down, as weak economic data released this morning took its toll yet again. UK retail sales slumped in November, with total sales having now fallen for two consecutive months, the first time this has happened since the survey began in Jan 1995, according to BRC. RICS housing data out this morning saw sales fall to a record low due to a continued shortage of finance. We have seen sterling give up over two cents on the dollar already this morning, and that crucial cent taken off the euro has also been lost.
Euro:
The euro made gains on the dollar yesterday, rallying to a month high of $1.2966. This was seen as a dollar move, with the Obama effect rallying stock markets, which has an opposite effect on the dollar. The euro did weaken slightly against the pound, as over 1% was lost to hit an intraday low of 0.8578. In the early hours of this morning, damming economic data from the UK has put a halt to the pounds small gain, with the euro taking back those losses made yesterday, heading towards the 0.87 level. Attention today turns to Germany’s ZEW survey, with business expectations for a fall to –55.0 in December from Novembers –53.5.
Mid-Prices
GBP/USD 1.4801
GBP/EUR 1.1508
EUR/USD 1.2844
GBP/JPY 136.54
GBP/AUD 2.2636
GBP/NZD 2.7441
GBP/ZAR 15.0422
GBP/CHF 1.7924
GBP/CAD 1.8546
GBP/SGD 2.2293
GBP/THB 52.29
GBP/HKD 11.4580
Contact:
leigh.payne@voltrexfx.com
+44 (0) 20 7959 6828
· Dollar weakens as stock markets rally and oil climbs higher
· Global markets rally on latest US stimulus plans
· Sterling sees gains Mon but poor economic data Tues drags down the pound
· Oil gains on hopes US stimulus package will nurse US back to health
· Bank of Canada Rate Decision due today
US Dollar:
The dollar came under pressure again yesterday after stock markets soared amid a surge for companies likely to benefit from President-elect Barack Obama’s pledge to spend more on infrastructure. The US Congress and the White House inched toward a financial rescue of the Big Three auto makers, negotiating legislation that would give the US government a substantial ownership stake in the industry. Oil also jumped on the back of this. These combined factors dragged the dollar down against its major rivals, which saw a five cent drop posted against the pound to a week low. Against the euro we saw the greenback fall to its lowest level this month, which we can also attribute to the hope of an injections from Obama’s economic plans. This morning we have seen the dollar pull back some losses against the pound as weak economic data was posted in the UK.
Pound:
Sterling rallied against the dollar and euro yesterday, with cable gaining over five cents to hit $1.5048 and the pound picking up over a cent on the single currency. The cable move seemed to come as the stock markets rallied on the latest US stimulus plans. The Dow gained over 3% and FTSE 100 over 6%, dragging the dollar down and making sterling more attractive. As we can see this morning, we didn’t have to wait long for sterling to take itself down, as weak economic data released this morning took its toll yet again. UK retail sales slumped in November, with total sales having now fallen for two consecutive months, the first time this has happened since the survey began in Jan 1995, according to BRC. RICS housing data out this morning saw sales fall to a record low due to a continued shortage of finance. We have seen sterling give up over two cents on the dollar already this morning, and that crucial cent taken off the euro has also been lost.
Euro:
The euro made gains on the dollar yesterday, rallying to a month high of $1.2966. This was seen as a dollar move, with the Obama effect rallying stock markets, which has an opposite effect on the dollar. The euro did weaken slightly against the pound, as over 1% was lost to hit an intraday low of 0.8578. In the early hours of this morning, damming economic data from the UK has put a halt to the pounds small gain, with the euro taking back those losses made yesterday, heading towards the 0.87 level. Attention today turns to Germany’s ZEW survey, with business expectations for a fall to –55.0 in December from Novembers –53.5.
Mid-Prices
GBP/USD 1.4801
GBP/EUR 1.1508
EUR/USD 1.2844
GBP/JPY 136.54
GBP/AUD 2.2636
GBP/NZD 2.7441
GBP/ZAR 15.0422
GBP/CHF 1.7924
GBP/CAD 1.8546
GBP/SGD 2.2293
GBP/THB 52.29
GBP/HKD 11.4580
Contact:
leigh.payne@voltrexfx.com
+44 (0) 20 7959 6828
Wednesday, 3 December 2008
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