USD Exchange Rates
There was some mixed data for the US yesterday with employment figures showing a slight decline in the number of people in work while the US Gross Domestic Product (GDP) figures showed an increase from 1.3% to 2% which is a big improvement and brings not only positivity for the US but for the global economy as it really does highlight a big improvement for the world’s largest economy. Finally the Federal Reserve Bank of America (FED) kept interest rates on hold at their record low of 0.25% while at the same time they reduced their bond buying programme (the US equivalent of the UK’s Quantitative Easing) and means they are now very close to finalising this scheme with the central bank still on track to complete the programme for October.
EUR Exchange Rate News and Forecast
Today we have the eagerly anticipated Eurozone inflation data which has been one of the largest market movers for the Euro as it was due to fact inflation is falling so much in the single currency economy that lead to the European Central Bank (ECB) cutting interest rates to record low levels and also cutting deposit rates to negative levels. So, should we see inflation figures fall again today it could mean we see Euro weakness while a positive announcement could see the ECB praised for taking such decisive action and could provide a boost to the single currency. So, for those clients with a EUR requirement this announcement will be key and so it is worth speaking with one of the senior currency brokers here at Foreign Currency Direct plc to discuss the options available to you.
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