USD Exchange Rates
Today there are some key economic data sets due for release with US employment figures, Gross Domestic Product (GDP) numbers and the latest Federal Reserve Bank of America (FED) interest rate decision all due today which could mean we will have a busy day for Sterling Dollar exchange rates. We are anticipating that the FED will reduce their bond buying process as they move closer to the end of the scheme in October while the GDP figures are also expected to be positive for the world’s largest economy and as a result we could witness some large USD movement. So, for any clients looking to buy or sell USD then it would be worth speaking with us today, before all the announcements, so we can discuss your currency requirements and the options available to you. You can call us for free on 0800 328 5884 or if calling from abroad on 0044 1494 725353 alternatively email me directly on firstname.lastname@example.org
Mortgage Approvals Increase
Following yesterdays focus on the UK housing market and the effect it has on GBP exchange rates it was confirmed yesterday that mortgage approvals were up by 8% which is quite a large increase and not expected. As mentioned this is good news for Sterling but does not go to show the underlying issues in the housing market.
During the FCD Currency World Cup we examined the Argentinian Peso (ARS) and the fact that their finance ministers were meeting in New York to attempt to agree a payment plan for their bonds. It appears that there has been no agreement and with the deadline tonight there is a large chance that we could see Argentina effectively default which could throw the Argentinian economy into chaos and may lead to the IMF needing to step in. Despite the ARS being a currency traded here at Foreign Currency Direct plc or really being a majorly traded currency it could have knock on effects for the other Latin American countries and potentially other larger countries that have strong trading links with Argentina.