FindCurrency.com

By James Matthews

There is a raft of American data out today that could really move the market. Continuing Jobless Claims and Existing House Sales are the two data release most likely to effect the US Dollar today.

In yesterday’s trading we saw how Jobless figures can really swing major currency pairs as the UK saw negative Jobless figures cause Sterling weakness against most major currencies. I wouldn’t be surprised to see this echoed in the US this afternoon when jobless figures are released at 13.30 GMT. As the USA struggles to find its’ feet after the recession Jobless figures are a key indicator of just how quickly American’s can expect to return to a ‘normal’ booming economy.

Existing Home Sales are also due for release at 13.30 and with dissapointing Housing Starts figures yesterday how these figures come out could prove vital for short term strength or weakness on the US Dollar. As stated previously on this blog the Housing Industry has lead the American economy out of the majority of recessions in living memory and it hasn’t proved the case so far this time round. Bearing in mind the current climate these figures could give the market particular volatility today.

If you have any Dollar requirement fill in one of our enquiry forms and an experienced Currency Broker will be in touch to keep you updated on market movements.

By James Matthews

The Canadian interest rate decision is due at tomorrow afternoon at 2 p.m. There is little expecting a change as inflation currently sits at a very comfortable 1.4%.

Compare this to other worldwide economies, for instance the UK – expected to be the first of the ‘big four’ economies (USA, UK, Europe and Japan) to raise rates, where inflation sits at a booming 3.3%. Foreign Exchange rates are irrevocably linked to interest rates and as interest rates rise so will the attraction of currencies to investors. For this reason alone it is likely that the CAD may struggle against the likes of GBP this year and to a lesser extent USD.

If you have a Canadian Dollar requirement, to either buy or sell fill in one of our enquiry forms and a specialist Currency Broker will be in touch.

By James Matthews

On a day that is fairly light on the ground with data releases, Housing Starts data for Canada could move the market for anyone with a Loonie requirement.

This figure is due for release at 13.15 and is expected to show a decline – from 187,000 to 178,000, although this would likely move the markets against the Canadian Dollar I would only expect this to have a limited effect. If the figure comes out vastly different it could really rock the market, certainly if the figure actually grew the CAD would strengthen dramatically.

It is certainly a data set to keep an eye on if you do have a Canadian Dollar requirement as there is certainly potential to move the markets. If you are looking at moving funds today or indeed want to talk to an experienced broker regarding a longer term requirement fill out one of our enquiry forms and an experienced broker will be in touch.

By James Matthews

Non-Farm Payrolls is released today at 13.30 GMT and has the reputation of being one of the most important data sets worldwide on the Currency markets.

Aside from being an integral data set (Amount of Employees working in non Agricultural businesses), it is often released significantly differently to that is expected. This is because the data is collated very early and thus early predicitions can often prove inaccurate. The last few Non-Farm Payroll data sets have triggered particularly volatility for the next hour or so after the release and I wouldn’t expect this month to be any different.

In fact whispers across the industry suggest that the data may show a massive increase on Novemember’s figure, and as December has an influx of seasonal employment I certainly wouldn’t be surprised with a huge increase. If you have any Dollar requirement keep a very close eye on this data set, and if you are looking at purchasing Dollars it may be wise to do so this morning, rather than waiting for the afternoon.

By James Matthews

Employment Change figures yesterday for the US were released significantly better than expected (at 297,000, above the 100,000 expected figure).

This has lead to some US Dollar strength which has seen rates against Sterling head back under the 1.55 barrier and the USD/EUR rate back up to 0.763 at the time of writing. The Dollar has had a strong start to January and looks like it could have a strong January gaining against a basket of major currencies.

If you have any currency requirement or are looking at sending any money overseas then do not hesitate to fill out an enquiry form and we will put someone in touch.