EUR Exchange Rates – ECB Report
This morning we are expecting to hear from the European Central Bank (ECB) who will be giving their monthly report at 9:00 am which could give an insight into how they see the single currency economy performing and then at 10:00 am this morning we will see European employment figures. Both of these data releases could give an insight into the short term future of EUR exchange rates, should the ECB give a positive report and the employment figures come out positively we could see further Euro strength which could reverse the recent trend of Sterling strength.
US Retail Sales Better Than Expected – USD Exchange Rates
Figures from the States yesterday showed that US retail sales came out better than expected as the sales rose by 1.1% the biggest rise in 5 months. This was particularly surprising as at the start of the year an increase on payroll tax began and this was expected to curtail spending and have a negative short term impact on the economy but these figures show that this does not appear to be the case. As a result the already strong USD got even stronger towards the close of trading yesterday especially against the Pound as it moved further away from the 1.50 mark. It appears that there is more positive news coming out of America which could mean we see the Dollar get even stronger which may not be very good news for those clients looking to buy Dollars but will mean there are some good opportunities for clients looking to sell Dollars. For more information or to get a live exchange rate speak to one of our experienced currency brokers today.
Australia Employment Figures Rise – AUD Exchange Rates
Over night figures from Australia have shown that the economy witnessed the largest number of new jobs created since the year 2000 as 71,500 new jobs were created. This is clearly very good news for the Aussie economy and the Australian Dollar (AUD) as more people in employment the more money will be earned through an increase in wages which should then see an increase in spending. Australia has been very dependent on China and how the Chinese economy has performed but these figures show that things could be improving regardless of how well China is performing. This could mean more AUD strength and as a result we could see AUD exchange rates fall further towards the 1.40 level and I believe new record lows against the Pound could well be set soon.
New Zealand Interest Rates – NZD Exchange Rates
As expected interest rates in New Zealand were kept on hold yesterday at 2.5% and the following comments from the Reserve Bank of New Zealand saw them hint that interest rates may stay on hold for some time to come. This stability could mean we see the New Zealand Dollar (NZD) remain strong against the Pound so for the latest GBP NZD exchange rates call or email us today.
If you are looking to send money abroad make sure you speak to us today so we can discuss your currency requirements and all the options available to you. You can speak to one of our expert currency brokers on 01494 849752 or alternatively email me on email@example.com