Monthly Archives: August 2016

YouGov/Cebr Survey Showed that UK Consumer Confidence has Increased

consumer confidence has improved to 109.8 in August
GB POUNDA solid week for the UK economy and the pound.The pound started the week at 1.1611 against the Euro and 1.3111 against the US Dollar, and the upward trend continued as a raft of positive data regarding the health of the British economy.A YouGov/Cebr survey showed that consumer confidence has increased. The headline number increased 3.2 points to 109.8 in August, this is the biggest monthly increase since February 2013.GDP for the second quarter increased from 0.4% to 0.6%, the main driver Read more

UK Retail Sales Increased by 1.4% in July

A busy week for sterling. Monday we saw the pound tumble to a new three-year low against the Euro, trading at 1.1476, the lowest level since August 2013. The exchange rate was even worse in some UK airports as holiday makers reported that they received an exchange rate of €0.9915 at Stanstead airport.Tuesday we found out that Inflation in the UK has hit a 20 month high. The consumer price index which is the benchmark measure of inflation has increased from +0.5% in June, to +0.6% in July. The main Read more

Avoid Airports if you Want to get the Best Euro Rate

Only a couple of months ago we warned in a blog post Don’t Buy Your Euros at Cardiff Airport Following an investigation by Caxton fx on the Euro rates offered at two airports on Tuesday of this week , we can add Luton and Stanstead to the list of the worst Airports to buy Euros if not ordering them via click and collect. Caxton fx found that both Ice  (Luton Airport) and Moneycorp (Stanstead Airport) were offering a rate of below parity. Ice were offering 0.990 Euros to the Pound and Moneycorp Read more

Another Tough Week for the Pound Euro Exchange Rate

GB POUNDThe pound started the week at 1.1771 against the Euro, and 1.3048 against the US Dollar, it was another tough week for the pound despite the Bank of England slashing the interest rate to a record low and increasing its QE package. The National Institute of Economic and Social Research suggested on Tuesday that GDP has shrunk by 0.2% in July. James Warren from niesr said: “We estimate that in the three months to July, the UK economy grew by 0.3%, a marked economic slowdown. The month-on-month Read more

Possible Sharp Swings in the Norwegian Krone Exchange Rate AFoot

norwegian krone
Norways economic data releases are normally  posted at 10am each day, but that is about to change next month to 7am. Currency traders and bond merchants are up in arms about this change and intend to fight it stating that the time change to an earlier slot will damage trade and make it difficult to get their children to school. They further stated that releasing growth and job numbers at such an early time could lead to sharp swings in the Norwegian Krone exchange rate as there will be few traders Read more

UK Economy Slowing at its Fastest Rate Since the Financial Crisis of 2008.

GB POUNDThe pound started the week on the back foot again trading at 1.1841 against the euro and 1.3218 against the US dollar, the bad news continued following the release of weaker than expected PMI manufacturing data, forecast at 49.1 the actual figure was 48.2, this caused the pound to drop to 1.1798 against the euro and 1.3172 against the US dollar.On Wednesday, services PMI data for July came in as expected at 47.4 however this was a sharp drop from 52.3 posted in June. This data shows the UK Read more

Positive Signs that the US Housing Market is Gaining Momentum.

GB POUNDThe pound started the week at 1.1968 against the euro, and 1.3135 against the US dollar.Tuesday the Bank of England’s MPC member Dr Martin Weale spoke about last week’s worrying purchasing managers index (PMI), which showed that service companies and manufacturing firms have suffered a decline in orders and demand in July. The report suggests that the UK economy is probably contracting this month, and this means that Dr Weale is likely to vote for a fresh stimulus package, which could Read more