Currencies Direct Plus
Currencies Direct is one of Europe’s leading non-bank providers of currency exchange and international payment services. Since its formation in 1996 Currencies Direct has maintained its focus on being an innovative service provider of foreign exchange and international transfers for consumers and high net worth individuals with an extensive client base of 200,000. The company has also expanded its services to provide dynamic and pioneering ‘business to business’ solutions to help companies, tier 2/3 banks and other non-bank financial institutions process their international payments.
- 17/05/2013 CD News: Dollar nears 10-month highs on dovish Fed comments
- 16/05/2013 CD News: Euro slides on weak GDP figures
- 16/05/2013 Daily Podcast: Thursday 16th May 2013 - Daily Market Analysis by Phil McHugh
- 15/05/2013 CD News: Euro and yen down as dollar strength continues
- 14/05/2013 Daily Podcast: Tuesday 14th May 2013 - Daily Market Analysis by Phil Ryan
- 14/05/2013 CD News: Dollar up on strong retail sales
- 13/05/2013 CD News: GBP/USD slumps on QE speculation
- 13/05/2013 Daily Podcast: Monday 13th May 2013 - Daily Market Analysis by Ashley Skinner
- 09/05/2013 Daily Podcast: Thursday 9th May 2013 - Daily Market Analysis by Phil McHugh
- 09/05/2013 CD News: Sterling and euro higher as commodity currencies bounce
Phil McHugh is a Corporate Dealer at Currencies Direct UK, lends us his expertise on a daily basis. Foreign Exchage (FX) Market analysis is a daily market overview and commentary. King signs off with optimism Mervyn King has signed out with an upbeat final quarterly inflation report with growth fo...
From Europe, The German Consumer Price Index remained stagnant, however the main bit of news comprising of German ZEW Survey which measures economic sentiment came out at a reading of 36.4 much lower than the expected reading of 40. The Euro came under some selling pressure on the data release as markets ride on a wave of scepticism that the most stable economy for the bloc, is also slowing down in terms of growth. We expect French, Italian and German GDP figures to be released later this morning which could be critical for the single currency, and could provide further selling pressure should the figure come out much lower than anticipated. Meanwhile this morning the Euro has struggled to keep pace with the Greenback as it opens weaker at 1.29 in spite of industrial output in the Eurozone jumping by 1% for the month of March. The Euro is likely to stay range bound against the USD between 1.29-1.30 and a break below 1.29 could see a larger slide.
Sterling continues trading in a zone of familiarity, taking its cues from the EUR/USD pair. Ever since the surge since the positive GDP data, it has struggled to maintain consistent strength against most of it’s counterparts . Even though UK house prices rose to its highest level in almost three years last month, as the government pledged 3.5 billion pound of loans plus 130 billion pound of guarantees in March for the housing market alone, Sterling has dropped considerably to 1.5215 which it opens at this morning. However, although unlikely for the near term, former policy makers at the Bank of England still insist that interest rates should be hiked. On the other hand, there was good news for the UK’s FTSE 100 as it powered its way to a five and half year high. We also look forward to The Bank of England inflation report later this morning, which could provide interim support for Sterling as well as Jobless claims which is expected to come out better than expected at -3.0k.
Phil Ryan is a Corporate Dealer at Currencies Direct UK, lends us his expertise on a daily basis. Foreign Exchange (FX) Market analysis is a daily market overview and commentary. USD rally despite risk on Strong demand for risk assets boosted markets yesterday with Central banks supplying the main...
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