FCD Currency World Cup

As four more teams confirmed their place in the last 16 of the FIFA world cup today see’s the final matches of the last two groups still with plenty to play for. In the FCD Currency World Cup yesterday we saw the Euro defeat the Dollar and despite France and Ecuador playing out a bore draw France did go through. Today one of the most intriguing matches will be Germany versus the USA and so in the FCD Currency World Cup we will be examing their respective currencies as the Euro and Dollar go head to head once again.

Germany – Euro (EUR)

It is another quiet day for the Euro with very little economic data due out for release. The main market mover today is likely to be the Bank of England financial stability report this morning which should give a good insight into how the economy is performing and what will be interesting is to see whether the UK housing market is discussed as recently there has been a lot of concern around the difference between the house prices in London compared to the rest of the country. In the meantime the Euro remains weak against the Pound presenting some excellent opportunities for clients looking to buy Euros but with key figures for the Eurozone announced tomorrow it will be interesting to see whether Sterling can remain strong against the single currency.

America – Dollar (USD)

Yesterday the latest set of US Gross Domestic Product (GDP) figures were released and they came out much worse than had been predicted and as a result halted the recent Dollar strength. At present Sterling Dollar exchange rates are still holding very close to the 1.70 level which is some of the highest levels seen in about 5 years and with jobless figures today which are expected to come out at high levels we may see the Dollar weaken yet further. This could mean that for those clients looking to buy Dollars there could be some good opportunities over the coming 24 hours.

As per yesterday it does appear that the Euro just edges the USD and while many may expect the respective football teams to follow suit nothing can ever be guaranteed in the FIFA world cup as it cant in the currency markets! If you need to buy or sell Euros or Dollars make sure you speak with one of our experienced currency brokers here at Foreign Currency Direct plc by calling straight through to our trading floor for free on 0800 328 5884 or if calling from abroad call us on 0044 1494 725353 alternatively you can email me directly on trh@currencies.co.uk