The honeymoon period with the new Conservative government is over.
Sterling enjoyed a brief rally this summer, with a 2% rise against a basket of currencies of the UK’s major trading partners and rose around 9 cents to hover just below the USD $1.60 mark.Sterling has managed to perform relatively well because of the inherent weaknesses of other economies; the Euro was held back (the Greek economic crisis) and the US dollar has been suffering against every other major economy in the world as it struggles to shake itself out of the effects of recession.Now...
The UK National Statistics Office has reported that overseas spending by British holiday makers has dropped by 10%. However, at the same time, spending in the UK by foreign tourists has increased by 4%.
The UK was once regarded as the “workshop of the world”, and exports still account for a substantial portion of UK manufacturing and commercial activities today.
Transacting business overseas is a valuable commercial hedge against adverse market conditions at home as well as a mean of providing highly profitable opportunities to generate business growth.
Shop Around for Best Value Currency Exchange When Leaving the UK
Contrary to some bets that the ECB would need to cut interest rates to help stimulate the eurozone economy, the central bank is holding steady. As a result, the euro is receiving a small boost in the markets, heading a little bit higher (...)Read the rest of ECB Maintains Rate; Euro Moves Higher (119 words) Posted on Forex News.The post ECB Maintains Rate; Euro Moves Higher appeared first on Forex News.
Macroeconomic indicators continue to suggest that Australia’s economy experiences stable growth. This led to gains of the Australian dollar. Hopes for improvement of the global economy helped the currency too.(...)Read the rest of Australian Economy Continues Demonstrate Improvement, AUD Higher (54 words) Posted on Forex News.The post Australian Economy Continues Demonstrate Improvement, AUD Higher appeared first on Forex News.
March is the fiscal year end in Japan and there tends to be a significant amount of repatriation of foreign earnings as companies look to window dress their balance sheets. This leads many investors to believe that USD/JPY will have a downward bias this month. However taking a look at how USD/JPY has behaved in March between 2001 and 2013, we can see that seasonality has very little impact on the currency pair. In fact over the past 6 years, USD/JPY appreciated 5 times in March. Therefore...
The Canadian dollar is showing gains on Wednesday, as USD/CAD trades in the mid-1.10 range. In economic news, it was another rough day for US releases, as ADP Non-Farm Payrolls and ISM Non-Farm Manufacturing PMI both lost ground in February and fell short of expectations. In Canada, the BOC held the benchmark interest rate at 1.00%, as was expected. The rate has been pegged at this level since September 2010. In the US, it’s looking like another nasty streak of weak releases. ADP...