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UK GDP figures affecting Dollar exchange

Leigh Smith — Fri, 23 Jul 2010 09:59:33 +0000

This morning, as previously mentioned, the ONS released the UK 2nd quarter GDP figures. Expectations were for an increase to 0.6%, figures showed GDP actually rose by 1.1% however and Dollar exchange rates have reacted accordingl.y Since the release at 9.30am GBPUSD rates have increased 0.6%, or 1.1% for the day, and GBPCAD rates have increased 1.25% for the day.

Next week however we have house price data for both the UK and US, so if you are looking at buying US Dollars it may be prudent to take advantage of the current high levels before any negative figures have the chance to take effect.

Sterling Dollar forecast

Leigh Smith — Wed, 21 Jul 2010 08:10:26 +0000

Good news for anyone looking to buy US Dollars this morning, with sterling Dollar exchange rates increasing by 0.3% during the open of the day.

The Bank of England minutes are released in 20 minutes or so, so all eyes will be on how many, if any, members of the MPC have voted in favour of an interest rate hike. If more than June’s 1, Andrew Sentance, then expect to see the movements seen this morning continue through the course of the day and the sterling Dollar forecast looking slightly more promising.

Sterling claws back gains against the CAD

Leigh Smith — Tue, 20 Jul 2010 14:19:00 +0000

Surprising movements have been seen on the currency markets today as prices haven’t reflected the new interest rate hike seen for Canada this afternoon.

The Bank of Canada today raised rates 0.25% to 0.75%. According to analysts however, this had already been completely priced into the markets as it looked so much of a certainty therefore had little affect. However, the central bank did downgrade their growth forecast for the remainder of 2010 and the markets have reacted, sending GBPCAD exchange rates 0.2% up for the day from a day low of 0.4% down.

Dollar currency exchange

Leigh Smith — Fri, 16 Jul 2010 08:36:43 +0000

Good news for people looking at buying US and Canadian dollars this morning as levels have reached new highs of recent months. GBPUSD pushed through the 1.54 barrier and GBPCAD over 1.60.

Unfortunately there seems to have been some profit taking from these high positions and the levels have crept back a touch from their high point, but with trading levels still at very attractive prices it may be prudent to submit an enquiry today and one of our award winning currency brokers will be in touch to explain how to make the most of current GBPUSD and GBPCAD exchange.

GBPUSD exchange

Leigh Smith — Thu, 15 Jul 2010 08:17:27 +0000

Good morning readers,

Yesterday evening the Federal Open Market Committee released their minutes from their meeting at the start of July. The FOMC warned of a reduction in GDP growth for the US and highlighted the dangers of a double dip recession.

This has caused sterling to gain a touch during early morning trading today, a welcome uplift for anyone looking to buy US dollars. Levels currently available are now at a new 2 month high.