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By ASP

The Bank of Japan intervened on the currency markets today in an attempt to weaken the well supported Yen. The Yen has weakened by 2.10% on the pound at the time of writing which is obviously great news for the Japanese export trade with companies like Cannon making gains on the stock market in early trading.

This kind of central bank intervention is generally frowned upon by the market as it raises fear and uncertainty and i feel it is likely we will see a lot of USD strength throughout today as investors look for that “safe haven” currency.

To ensure you’re using the best contract option available to you for your currency needs please contact me on asp@currencies.co.uk

By ASP

Following the last minute deal at the EU summit on Wednesday currency markets shifted throughout Thursday. This ammount of movement is a clear indicator that investors risk appetite has been restored with over a 2.38% change on GBP/AUD rates. Expect continued volatility over the next few trading sessions with a particular focus on the first week of November as their are a substantial ammount of data releases which always cause volatility.

By ASP

For any clients with CAD requirements it is essential you keep in close contact with your account manager. At 12:00 we will see the release from the Bank of Canada on their interest rate decision. It is currently at 1% and is expected to be kept at 1% however any deviation from this will surely cause market volatility.

To be kept up to date with breaking news that could affect your exchange rates please contact me on asp@currencies.co.uk.

By ASP

Yesterday we had the minutes released for the Bank of England interest rate decision. Within these minutes we found that their had been a unanimous vote in favour of another round of Quantitative Easing. This was a bit of a shock to the market as it was expected we’d see a split decision on another QE program however this decisive action only added to investors confidence that the UK are better prepared than most for further Eurozone turmoil.

Today the National Statistics will be releasing the UK retail sales figures. These figures are used as a good indicator of consumer spending and generally and increase in spending is seen as positive for Sterling. Retail sales figures are expected to contract YoY from 0.6% to 0% however any deviation from this will surely cause market volatility.

By ASP

Today we will see the release of UK CPI (Consumer Price Index) data. CPI is used as a key indicator of inflation and with the recent Quantitative Easing a lot of investors will be looking to this data to give some indication to the future.

CPI is expected to be at 4.9% up from 4.5% YoY however any deviation from this will cause market volatility. Please contact me at asp@currencies.co.uk to discuss your individual requirements.