tag:blogger.com,1999:blog-97199692011-04-22T00:14:02.566+02:00Take the foreign out of currency exchange with our Daily BriefingCraig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comBlogger441100tag:blogger.com,1999:blog-9719969.post-1110810736954013022005-03-14T15:31:00.000+01:002005-03-14T15:32:16.983+01:00

AFTER Friday's worse than expected trade figures out of the US the market focus is firmly on the USD's structural problems and consequently market attention is on tomorrow's TIC data and Wednesday's release of the fourth quarter current account.While there should be a massive increase in the US current account due to the rise of the trade deficit, the TIC data which reflects the funding side of

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1110211411407613582005-03-07T17:01:00.000+01:002005-03-07T17:03:31.420+01:00

IN the US the non-farm payrolls for February, finally saw an improvement. The figure of 262k was a five-month high and saw the three-month average rise up to 183k. Yet in spite of this, the overall negative tone of the USD still exists and dollar selling on Friday afternoon saw GBP/USD drop back to the mid 1.92’s, and meant that it fell against 14 of the 16 major currencies. This wasn’t

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1109946832115001632005-03-04T15:32:00.000+01:002005-03-04T15:33:52.140+01:00

THE highlight of the week being the non-farm payroll figures are due for release today. Consensus expects stronger numbers than recently recorded. A 225 thousand figure for February is being pencilled in. The past three readings have been nothing but disappointing at an average of 137 thousand.A number around the 200 thousand to 225 thousand magnitude looks about right given the recent

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1109691930720496732005-03-01T16:43:00.000+01:002005-03-01T16:47:15.510+01:00

THE beginning of March sees a busy economic data release calendar with important PMI data from the major economies including the US. We are expecting caution ahead of Greenspan’s testimony on Wednesday and the crucial payroll data on Friday. Investors are likely to also be nervous due to the personal spending data showing some evidence of rising inflation and the rise in bond yields. The

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1109588518852070932005-02-28T11:59:00.000+01:002005-02-28T12:01:58.893+01:00

THE Euro is expected to break decisively higher this week and support now comes in at the 1.3225-30 level against the dollar with 1.3210 as lower support. A break through overnight highs around 1.3280 could see the pair quickly higher to 1.3450 in the coming sessions.We cautiously continue to favour a move up to the mid-January high around 1.3300 and probably the early December high area

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1109339543622593042005-02-25T14:50:00.000+01:002005-02-25T14:52:23.646+01:00

THE US Dollar managed to halt its recent slide last night and even stage a mild recovery against some of the major currencies. This was in part attributed to technical factors however the reasonably positive economic data has given the Greenback some, albeit fragile, support.In late trade last night the dollar came off its recent lows against the Euro to reach 1.3197. Analysts and traders said

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1109250677636981932005-02-24T14:08:00.000+01:002005-02-24T14:11:17.800+01:00

JANUARY'S durables goods orders are scheduled for release today, with consensus expecting orders to tread water at Decembers levels. After successive monthly increases of 2.0% and 1.1% a thought of no change would be optimistic.The numbers are highly volatile and could easily fall back in January. Durables figures have not risen three consecutive months since early 1999. Jobless claims for

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1109166911054041282005-02-23T14:52:00.000+01:002005-02-23T14:55:11.086+01:00

THE dollar suffered further heavy losses yesterday following concerns that central banks were moving their currency reserves out of the dollar. The key instigator in this were reported comments from a spokesman for the Bank of Korea who said on Monday that as foreign exchange reserves increase, the BoK will "diversify the currencies in which it invests."This was the catalyst for a huge dollar

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1109085276007277382005-02-22T16:07:00.000+01:002005-02-22T16:14:36.036+01:00

THE US dollar fell sharply in Asian trade last night against its major counterparts with the decline fuelled by investors' preference for carry trades in higher-yielding currencies like the Australian and New Zealand units. The prospect of widening interest rate differentials is likely to keep the Australian and New Zealand dollar well supported over the coming weeks. The Reserve Bank of

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1108982653605410172005-02-21T11:41:00.000+01:002005-02-21T11:44:13.626+01:00

WITH the US enjoying the long weekend, trading should generally be light today. This weekend's attention in the currency market will focus on tomorrow's U.S consumer confidence data as well as the FOMC-minutes and the January CPI numbers on Wednesday.Following Friday's spike in the core PPI, any upside surprise in the CPI data or more hawkish tone in the minutes would fuel rate hikes

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1108734392953632982005-02-18T14:43:00.000+01:002005-02-18T14:46:32.980+01:00

RUMOURS about the central bank selling USD as well as the soft leading indicators and the drop in the employment component of the Philadelphia Federal index pushed the USD to the lowest level in almost a fortnight.The ever growing hostile comments by the US administration toward Syria and discussions with Iran about their nuclear program may fail, also weigh on on USD sentiment. Market activity

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1108638684975121252005-02-17T12:09:00.000+01:002005-02-17T12:11:25.000+01:00

STERLING slipped against the dollar and the euro following underwhelming comments from the Bank of England yesterday.The Bank's Governor Mervyn King left the door slightly open, however for further interest rate increases as he sent a clear message that there was no rush for this and any increase would probably not occur in the short term.The BoE's Quarterly inflation report revised upwards

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1108379810980969122005-02-14T12:12:00.000+01:002005-02-14T12:16:50.986+01:00

THE US dollar weakened slightly over the week end bringing the euro back above the 1.29 level and the pound back to 1.88. Despite the "OK" trade balance figures last week market participants are still undecided on the path of the greenback.The dollar's worrying trade deficit has been largely ignored in 2005 hence its incredible appreciation over the past two months. However, as time goes by it

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1108134715463856422005-02-11T16:10:00.000+01:002005-02-11T16:11:55.466+01:00

AS widely expected yesterday the Bank of England's Monetary Policy Committee voted to keep interest rates on hold at the present level of 4.75%. This is the sixth month in a row that the MPC has kept rates on hold. While this outcome was largely predicted, the recent positive UK data means commentators will be watching both the release of the minutes closely and also next week's Quarterly

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1108033706343774472005-02-10T13:06:00.000+01:002005-02-10T12:08:26.343+01:00

THE US dollar was trading mixed and in tight ranges against major currencies in overnight trade ahead of the December US trade data to be released later today. The majority of currencies will be trading in narrow ranges ahead of this important data release. Economists are expecting the US trade deficit to have narrowed to 57 billion USD in December from 60.3 billion USD in November. The dollar

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1107976635303648482005-02-09T20:13:00.000+01:002005-02-09T20:17:15.303+01:00

YESTERDAY the USD did not react to comments by Treasury Secretary Snow on the budget. It would need facts rather than promises to provide the USD with additional tailwind. We still remain sceptical that Bush will deliver. Being that there are no major economic data releases scheduled until tomorrow the weekly MGA mortgage applications and December wholesale inventories are out today but will

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1107786766678213432005-02-07T15:29:00.000+01:002005-02-07T15:32:46.680+01:00

THERE are no key data releases until Thursday, when the US December trade report is due. The Consensus expects a deficit of around $57 billion in December, which would represent a minor pullback from November's record $60.3 billion. The Nonfarm payrolls grew by a measly 146 thousand in January, taking the 3 month moving average growth to 137,000 from 202,000 in December. The average work week

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1107340096217385802005-02-02T11:25:00.000+01:002005-02-02T11:28:16.216+01:00

THE Federal Reserve is expected to raise policy rates by another .25 percent today, the sixth such hike in as many FOMC meetings. This would take the federal funds target rate to 2.50 percent up from 1.00 percent in June 2004. This hike and the next two predicted to be in the March and May meetings are priced into the market. However, there is an outside chance that the Federal drops the "

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1107164889273778912005-01-31T10:47:00.000+01:002005-01-31T10:48:09.273+01:00

THE dollar moved back into the middle after drifting lower in the wake of a weaker-than-expected reading in the US forth quarter GDP released on Friday. Official figures from the Commerce Department showed growth in the US economy slowing in the fourth quarter to a 3.1 per cent annualised rate, the recent growth in seven quarters, against expectations of a 3.6 per cent increase. The main reason

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1106996043170472872005-01-29T11:52:00.000+01:002005-01-29T11:54:03.170+01:00

AHEAD of Sunday's election in Iraq, market participants will be reluctant to buy USD even if the dollar remained steady after solid US economic data and mounting expectations that the upcoming G7 meeting of finance ministers will not yield any material change on the currencies front. Excluding a 3 pct drop in transportation goods orders, December orders for US durable goods rose 2.1 pct, the

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1106857734119232612005-01-27T21:27:00.000+01:002005-01-27T21:28:54.120+01:00

STERLING enjoyed a good day against the major currencies yesterday. The pound was given a boost following the release of some fairly bullish data. There had been concern at the end of last year that interest rates may be cut at some point in the near future which in turn had help cause the British currency to weaken. However yesterday's minutes from this month's rate setting MPC meeting at the

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1106572964848050112005-01-24T14:20:00.000+01:002005-01-24T14:22:44.846+01:00

FOLLOWING the the mixed UK data over the past 10 days, this week's focus is on today's release of the Hometrack survey, Wednesday's Bank of England's minutes and the Nationwide house price index on Thursday. After the upside surprise in the RICS house price index, more positive news from the housing front would undoubtedly put an end to rate cut expectations in the market and consequently

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1106299097416584372005-01-21T10:16:00.000+01:002005-01-21T10:18:17.416+01:00

THE US dollar continued to extend its gains against the Euro yesterday. The dollar has managed to break through the psychological 1.30 level and significantly held its position there. At one stage the dollar reached 1.2924 before steadying around the 1.2950 level. The US unit has performed well this year on the back of stronger data and growing signs that the Federal Reserve will increase

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1106222473310147432005-01-20T13:58:00.000+01:002005-01-20T13:01:13.310+01:00

FOR a fourth consecutive day, EUR/USD closed lower. While the euro got hammered in Asia yesterday, intra-day chart support seems to be building at the psychological US$ 1.3000. However, an ultimate break below this level carries the better odds as the reigning trend structure in the daily chart points south. If so, the euro is vulnerable of retracing to US$ 1.2825, the next support level.

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1106143747234503552005-01-19T15:07:00.000+01:002005-01-19T15:09:07.233+01:00

IT was a lively day in the markets yesterday following the release of different sets of data. Sterling performed very strongly in the morning following the release of the Consumer Price Index (CPI) for December. The figures showed a headline annual rate of 1.6% for last month which was up from 1.5% in November. At this monthly rate the rise in UK CPI was the highest for over four years and

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1106059382215223462005-01-18T15:41:00.000+01:002005-01-18T15:44:53.293+01:00

THE dollar performed well again yesterday despite it being a US market holiday. The US unit rose by over a cent and a half as investors began to give attention to rising US interest rates. The Fed has raised rates five times since June - but this had little effect on stemming the flow of dollar selling. However with US base rates now higher than in Europe and the prospect of more increases to

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1105959943266535782005-01-17T13:04:00.000+01:002005-01-17T12:05:43.266+01:00

TRADING activity today should generally be light as the the US market is closed for Martin Luther King day. Market participants are focusing on tomorrows US capital flow data. Other than this data any upward revision in rate expectations would be USD positive as long as the US asset market remains stable. There is nothing good to say about the $60bln trade deficit the US recorded in November,

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1105697399361070052005-01-14T11:07:00.000+01:002005-01-14T11:09:59.363+01:00

THE Bank of England kept interest rates on hold at 4.75 per cent yesterday. It is the fifth month in a row that the Bank's Monetary Policy Committee has frozen the cost of borrowing. This was largely expected and has not had much of an impact on the currency markets. Signs of a cooling property market, and a slowdown in High Street spending, appeared to be enough to convince the

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1105618361173494492005-01-13T13:10:00.000+01:002005-01-13T13:12:41.173+01:00

THE November trade deficit rose sharply to $60.3 billion in November from $55.5 billion in October. The two month jump was the largest on record and took the US deficit further into uncharted territory in absolute dollar terms and as a percentage of Gross Domestic Product. Exports were the bigger force in the jump in the deficit. Yesterdays blow-out has put the USD's structural problems back on

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1105548203927624662005-01-12T17:42:00.000+01:002005-01-12T17:43:23.926+01:00

THE U.S. November trade data is out today which will be closely watched by the majority of the market today. Consensus expects the trade deficit to moderate slightly to $54 billion dollars from October's record deficit of $55.5 billion. However, a drop in imports almost surely would be required for such an outcome, and this would seem against the odds. The U.S. need to begin saving and stop

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1105438937921246612005-01-11T11:20:00.000+01:002005-01-11T11:22:17.920+01:00

THE dollar headed back towards seven-week highs against the euro yesterday after the single currency failed to sustain its recovery earlier above 1.31 USD. As stated previously,. the dollar moved sharply higher on Friday after US Treasury Secretary John Snow said the administration will back its so-called strong dollar policy with sustained action on reining in the budget deficit. The

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1105355875639108302005-01-10T13:15:00.000+01:002005-01-10T12:17:55.640+01:00

THE dollar continued to strengthen on Friday having knock on effects on other currencies. The US unit had initially weakened after very slightly weaker than expected jobs figures for the month of December. However after the data had been released and the greenback had begun to slide US Treasury Secretary John Snow was quoted in an interview as saying that he still supported a strong dollar

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1105092810519920192005-01-07T11:12:00.000+01:002005-01-07T11:13:30.520+01:00

THE dollar relinquished only a small amount of its gains in overnight trading as the market got set for the keenly awaited U.S. jobs data being released later today. The market is likely to be fairly quiet leading up to the announcement and traders have been trying to find a balance in the market ahead of the U.S. non-farm payrolls data for December. The dollar's four-day rally has shown the

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1105020073791811092005-01-06T14:59:00.000+01:002005-01-06T15:01:13.790+01:00

THE dollar struck highs against the euro overnight by breaking through the $1.32 level on mounting expectations the US Federal Reserve will raise the cost of borrowing again next month. U.S. interest rates could be in line to rise several times in 2005 thus improving the yield to investors and making the greenback a much more attractive currency. Analysts are still a little cautious however,

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1104920139187007762005-01-05T11:13:00.000+01:002005-01-05T11:15:39.186+01:00

THE U.S. dollar continued to gain throughout yesterday afternoon as it retraced some of the heavy losses suffered over the Christmas period, with sterling leading the way down. The pound fell almost 4 cents against the greenback hitting lows of 1.8780 on the back of strong US factory orders data for November. New orders for US-made manufactured goods increased by 1.2 per cent, above

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1104832271708186272005-01-04T10:49:00.000+01:002005-01-04T10:51:11.706+01:00

THE pound has struggled over the festive period in the wake of weak data and light volumes of trading accentuating currency movements. Against the Euro the pound slid from highs of 1.45 to the 1.40 level pushing spot dealing prices below 1.39. Sterling has also moved away from the top of its trading range against the USD and pushed to the bottom of the 1.90s and threatening to reach 1.89. This

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1103714252253993072004-12-22T13:14:00.000+01:002004-12-24T15:55:05.160+01:00

THE US budget and its trade deficit are both deep in the red, helping to push the dollar to lows against the euro and fuelling fears about the economy. The US has said it is committed to a strong dollar. But the dollar's weakness has hit European and Asian exporters and lead to calls for US intervention to boost the currency. Many European businesses are becoming uncompetitive against American

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1103634965099310182004-12-21T14:14:00.000+01:002004-12-21T14:18:21.313+01:00

IN a day devoid of major economic data releases the markets followed a seamlessly aimless path. The dollar found support just under JPY104.00, while the euro stalled as it peaked over USD1.3400 and the pound turned back after a blip over USD1.9500. The price action overnight had all the hallmarks of aimless pre-holiday trade with position-squaring dominating. With the EU Commission pointing

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1103634208829082822004-12-21T14:01:00.000+01:002004-12-21T14:03:28.830+01:00

IF you need to make regular payments from a UK account to your French bank then PDQ-FX may save you time and money. SGM Foreign Exchange´s service is aimed at individuals who need to make regular payments from Sterling to Euros, or any other currencies. Christian Baker, director at SGM-FX said: "We looked at the charges that banks impose, and the inconvenience involved, when making relatively

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1103633914101087732004-12-21T13:55:00.000+01:002004-12-21T14:00:38.970+01:00

WHILST the UK stays outside of Europe´s single currency your property purchase can be influenced by exchange rate fluctuations. Movements in the price between the Pound and the Euro could have a detrimental impact on the value of your dream home. Specialist currency dealers are often a useful place to turn for advice, charge lower fees than your bank and usually offer a better exchange rate.

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1103633650355061022004-12-21T13:51:00.000+01:002004-12-21T13:54:10.356+01:00

IF you have found your ideal property in France and have agreed a price then you are susceptible to currency exchange rate fluctuations. Movements in the foreign exchange market can have a real impact, for example the range in 2003 for Sterling against the Euro was 1.58 to 1.37, or 13.3%. This means that a property costing E158,000 might have cost anything between £100,000 and £115,328 - a

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1103633334156859752004-12-21T13:43:00.000+01:002004-12-21T13:50:04.966+01:00

LONDON based SGM Foreign Exchange offers: Corporate and private accounts Regular currency payments by Direct Debit Online travel money They Guarantee: Security of funds Highly competitive exchange rates Professional advice and no commission They Will: Guide you through the market Liaise with suppliers, agents or lawyers Make and confirm transfers promptly For more information about the

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1103632906487770812004-12-21T13:39:00.000+01:002004-12-21T13:41:46.486+01:00

THIS FRENCH FOREX has linked up with London based foreign currency exchange service SGM-FX to provide you with simple and clear advice. The site features a range of articles that are written in plain English for those interested in exchanging foreign currencies. I hope the site provides you with useful information so that you can make an informed choice. PLUS - sign up to the

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.comtag:blogger.com,1999:blog-9719969.post-1103632596200528842004-12-21T13:35:00.000+01:002004-12-21T13:36:36.200+01:00

Although http://www.thisfrenchforex.com/ (the website) and its accompanying guide supplied by http://www.thisfrenchlife.com/ deals with topics of interest about France each individual will have their own particular circumstances, so advice on the website and its accompanying guide cannot be comprehensive. The text on the website and its accompanying guide will provide you with a starting point

Craig McGintyhttp://www.blogger.com/profile/12546941814420026642noreply@blogger.com