Currency Rates

EURO/GBP - 1.143
US$/GBP - 1.601
CHF/GBP - 1.683
CAN$/GBP - 1.691
AUS$/GBP - 1.800
ZAR/GBP - 11.981
JPY/GBP - 144.81
HKD/GBP - 12.438

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencybusiness.com/quote1.htm

Consumer confidence in the UK came in above expectations yesterday and construction activity improved however the data failed to deliver a significant turnaround on previous figures. The UK Purchasing Managers Index for services is released today which is expected to remain broadly the same. Aside from this data sterling is keeping a low profile ahead of the Bank of England meeting tomorrow, as investors wait to see what happens – as a result any sterling movement has been passive and a result of general movement according to risk sentiment. The lack of volatility is a sure sign that many traders are very unsure as to the outcome of tomorrows meeting – let us help navigate minimise your risk- speak to a trader now.

In the Euro zone, German retail sales for December grew by 0.8% in line with expectations and inflation data for the Euro zone came in with a reading of -2.9% which further dampened prospects for a interest rate rise in the short to medium term. In addition, the President of the Bundesbank Axel Weber painted a discouraging picture of the region’s largest economy stating that the outlook for the German labour market was poor and that the country would rely increasingly on exports which have been suffering. This points to another potential issue in the Euro zone which will be monitored closely over the next few months. Today sees retail sales data released for the Euro zone region. If you need to move euros into sterling, the outlook for the region is poor and could cause movements against you.

In the USA, pending home sales showed a 1.0% improvement which pointed towards a tentative recovery in the housing market. Today’s ISM report (which shows business activity) is expected to show gains and point to a recovery that is gathering momentum. In addition the ADP employment report is expected to show that the number of jobs being shed is falling – but the key data is the Non Farm Payrolls which is out on Friday and is likely to have a market moving effect. Now might be a good time to buy dollars as the US recovery gathers pace.

In Australia, the trade deficit widened as imports exceeded exports by 1.8%. Commodity prices in the region have hit fresh highs which has driven the increase in imports.

To request a up-to-the minute quotation, call 0808 163 0102 (or +44 (0) 845 638 0571 from outside the UK) or fill out our quote form: http://www.smartcurrencybusiness.com/quote1.htm