UK GDP contracted -0.7%

Fri, 28 Aug 09 05:00 am

Revised second quarter GDP figures show the UK economy contracted -0.7% in the second quarter, slightly less than the -0.8% previously recorded. Economic and industrial confidence for the eurozone has come in positive this morning, while US personal consumption figures are likely to cause some currency volatility later in the day.

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Colombian interest rates 4.5%

Fri, 28 Aug 09 05:00 am

The Colombian central bank is expected to keep interest rates on hold at 4.5%, in an attempt to cap inflation and stimulate the economy.

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Euro confidence improves

Fri, 28 Aug 09 05:00 am

Economic confidence in the entire eurozone has jumped to a 10-month high, show figures released this morning.

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Canada posts record deficit

Fri, 28 Aug 09 05:00 am

The Canadian government has posted a record current account deficit for the second quarter, as the strong Canadian currency has undermined export prices.

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Sterling remains weak

Thu, 27 Aug 09 05:00 am

Foreign exchange rates for the pound remain bearish, sinking to an 11-day low against the single currency yesterday following strong industrial orders in the eurozone. US markets are optimistic this morning amid speculation that Ben Bernanke will be reappointed for a second term, while Israel's central bank has voted to increase interest rates by 0.25%.

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Euro rally continues

Thu, 27 Aug 09 05:00 am

The single currency has extended its rally against the pound this morning, gaining support from the release of the German consumer price index and consumer confidence figures. International risk appetite took a hit yesterday as US durable goods orders came in more modest than expected, and currency exchange rates for the yen strengthened in the run up to Japan's general election.

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German consumer confidence up

Thu, 27 Aug 09 05:00 am

The German economy continues to provide fuel for a rally in euro exchange rates, with this morning's figures showing German consumer confidence leapt to a three-year high.

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Positive signs for Australia

Thu, 27 Aug 09 05:00 am

Australian business investment has risen 3.3% in the second quarter, in a surprise to markets which strengthened currency rates for the Australian dollar.

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UAE inflation rises

Thu, 27 Aug 09 05:00 am

Inflation rates in the United Arab Emirates have accelerated 0.3% in July, while consumer spending has fallen.

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UK house prices rise

Thu, 27 Aug 09 05:00 am

UK house prices rose in August for the fourth consective month, signalling a return to stability in the property market show reports from Nationwide.

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US GDP shrinks 1%

Thu, 27 Aug 09 05:00 am

Annualized US GDP figures released this afternoon have shown the US economy contracted by 1% in the second quarter, sending US exchange rates higher against its major currency partners.

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Euro confidence rises

Wed, 26 Aug 09 05:00 am

This morning's figures show the German business climate and expectations rose in August, sparking further gains for the euro which has strengthened against its major currency partners. Sterling sentiment remains weak, putting pressure on currency rates for the pound, while Japanese export levels have fallen for the tenth straight month.

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German business climate improves

Wed, 26 Aug 09 05:00 am

The German business climate has improved beyond market expectations, sending the euro exchange rate higher against its international currency partners.

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Japan's exports decline

Wed, 26 Aug 09 05:00 am

Japanese export levels have declined for the tenth consecutive month, falling lower in the month to July and sending Japanese exchange rates higher.

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Swiss unemployment drops

Tue, 25 Aug 09 05:00 am

The Swiss unemployment rate has dipped slightly from 3.96 million to 3.95 million in the last quarter.

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AUD trims gains

Tue, 25 Aug 09 05:00 am

The Australian dollar has declined this morning, retreating from a 13-year high against the pound following falling commodity prices in China.

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Israeli interest rates rise

Tue, 25 Aug 09 05:00 am

The Israeli central bank has become this first to raise interest rates, voting for a 0.25% hike which has led currency exchange rates for the shekel higher.

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Bernanke expected to return

Tue, 25 Aug 09 05:00 am

President Obama is expected to endorse Fed chairman Ben Bernanke for a second term.

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US consumer confidence rises

Tue, 25 Aug 09 05:00 am

US consumer confidence has leapt to 54.1 in August, the first gain in three months as consumers take a more optimistic view of recovery in the US economy.

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UK confidence rises

Mon, 24 Aug 09 05:00 am

An index measuring confidence among business professionals in the UK has risen the most in over two years, as speculation grows that the UK will end its recession in the third quarter. News that Thailand has emerged from recession and improved sentiment from Ben Bernanke led to gains in Asian trading overnight, with yen and US dollar foreign exchange rates falling as demand for the safe havens diminishes.

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EMU factory orders rise

Mon, 24 Aug 09 05:00 am

Factory orders in the eurozone rose to a 19-month high, climbing by 3.1% in June sending euro foreign exchange rates higher.

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Yen weakens

Mon, 24 Aug 09 05:00 am

Currency exchange rates for the Japanese yen have weakened against the euro for the third consecutive day on the back of improved global confidence.

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CAD rises

Mon, 24 Aug 09 05:00 am

US currency rates have fallen to an intra-day low against the Canadian dollar, ahead of Canadian retail sales announced this afternoon.

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Canadian retail sales rise

Mon, 24 Aug 09 05:00 am

Canadian retail sales rose 1% in June, buoyed by higher gasoline prices, sending the Canadian dollar higher against the US currency.

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Sterling slides further

Fri, 21 Aug 09 05:00 am

The pound remains weak this morning as markets digest news of a record budget deficit in the UK. The euro continues to rally following positive PMIs for the manufacturing and service sectors and the Canadian dollar was boosted yesterday by a recommendation to buy from Goldman Sachs.

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CAD advances

Fri, 21 Aug 09 05:00 am

The Canadian dollar has advanced to a weekly high against the US dollar, after Goldman Sachs recommended the loonie for short positions.

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German PMIs improves

Fri, 21 Aug 09 05:00 am

The manufacturing and service sector PMIs have improved in the eurozone, boosting euro exchange rates this morning.

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UK posts record deficit

Thu, 20 Aug 09 05:00 am

Sterling currency rates remain neutral this morning after the UK posted a record budget deficit in July, the highest since 1993. UK retail sales also reported a modest rise, climbing 0.4% on the month. Today is light for economic data in the UK and eurozone, with the US leading index set to affect international currency rates.

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UK retail sales rise 3.3%

Thu, 20 Aug 09 05:00 am

Annual retail sales in the UK has risen 3.3%, with the largest monthly gain in over a year.

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Dollar edges up

Thu, 20 Aug 09 05:00 am

US dollar exchange rates have edged up against the pound and euro following worse than expected jobless figures in the US.

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MPC split on QE

Wed, 19 Aug 09 05:00 am

Sterling currency rates have slipped this morning against the US dollar and euro after the MPC minutes revealed the committee was split on QE policy. The US dollar has gained ground after the producer price index came in weaker than expected and with little data of note today, investors will be prepositioning themselves ahead of tomorrows announcements.

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MPC split

Wed, 19 Aug 09 05:00 am

Sterling exchange rates have slipped this morning following the release of the MPC minutes.

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Canadian inflation flat

Wed, 19 Aug 09 05:00 am

Exchange rates for the Canadian dollar have fallen against the US dollar after weak inflation figures.

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UK industrial trends rise

Wed, 19 Aug 09 05:00 am

Sterling exchange rates have weakened even after the CBI industrial trends survey showed a rise in August.

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Chinese stocks slump

Wed, 19 Aug 09 05:00 am

A slump in Chinese equity markets has led to a spike in risk aversion, reducing demand for the higher yielding currencies.

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UK inflation 1.8%

Tue, 18 Aug 09 05:00 am

The UK has surprised markets this morning with unexpectedly strong inflation figures and a 0.2% rise in the retail price index. The German ZEW index has also risen, reinforcing the positive view of the German economy and the US producer price index could affect foreign exchange rates later in the day.

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Sterling jumps on inflation data

Tue, 18 Aug 09 05:00 am

UK inflation has remained at 1.8% in August, above the market consensus which was expecting a drop to 1.5%.

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ZEW results up

Tue, 18 Aug 09 05:00 am

The euro exchagne rate has spiked against the US dollar as the German ZEW investor confidence survey leapt higher in August, rising to a three year high.

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South African GDP contracts

Tue, 18 Aug 09 05:00 am

The South African economy shrank by 3% in the second quarter, sending ZAR exchange rates lower against the US dollar.

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US producer prices drop

Tue, 18 Aug 09 05:00 am

The US producer price index has fallen 0.9% on the month for July, falling at an annual rate of -6.8%.

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Japan emerges from recession

Mon, 17 Aug 09 05:00 am

Japan is the latest country to emerge from recession as exports rose 6.3% in the second quarter and GDP grew at an annualised rate of 3.7%. Japan now joins France, Germany and Hong Kong in emerging from recession and economists are hopeful this could help drive global recovery forward.

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Japanese yen rises

Mon, 17 Aug 09 05:00 am

The Japanese economy has returned to growth in the second quarter, ending 4 consecutive quarters of recession.

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Green shoots in Eastern Europe

Mon, 17 Aug 09 05:00 am

The emergence of Europe's two largest economies from recession has fuelled speculation that Eastern European countries could be next to follow suit.

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Sterling rally stalls

Mon, 17 Aug 09 05:00 am

The pound has ended its five month rally against the US dollar and euro as the Bank of England continues with quantitative easing and economic forecasts remain downbeat.

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CAD weakens

Mon, 17 Aug 09 05:00 am

The Canadian loonie has weakened to its lowest level in almost a month against the greenback as commodity prices fell.

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US retail sales fall

Fri, 14 Aug 09 05:00 am

Retail sales in the US have fallen for the first time in three months and jobless claims have continued to rise. The euro continues to rally following news that France and Germany have exited recession ahead of market expectations and this could help drive a recovery in UK trade levels.

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South African interest rates cut

Fri, 14 Aug 09 05:00 am

The Reserve Bank of South Africa has unexpectedly cut interest rates to 7%, making this the sixth reduction since December to affect currency rates for the rand.

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NZ retail sales grow

Fri, 14 Aug 09 05:00 am

Retail sales in New Zealand rose 0.1% in June, sending the New Zealand dollar higher against its international currency partners.

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Industrial production rises

Fri, 14 Aug 09 05:00 am

Industrial production rose by 0.5% in the US in July sending the pound and euro higher on improved market optimism.

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Real forecast to surge

Fri, 14 Aug 09 05:00 am

A top economist has predicted the Brazilian real will surge ahead in 2010 on the back of growth from China.

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Fed rates on hold

Thu, 13 Aug 09 05:00 am

The FOMC voted yesterday to leave interest rates on hold and indicated they would cease quantitative easing by the end of the year. The Bank of England quarterly inflation report revealed downbeat forecasts and UK labour market data released yesterday was weak. This limited sterling gains overnight though the euro and Australasian currencies rallied against the greenback.

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Euro exchange rates rally

Thu, 13 Aug 09 05:00 am

The euro exchange rate has rallied for the third consecutive day against the US dollar and pound after second quarter GDP data shows recession is abating.

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US dollar declines

Thu, 13 Aug 09 05:00 am

The Federal Reserve voted to leave interest rates on hold overnight, though their indication that QE may cease by the end of the year boosted optimism over the state of the US economy.

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US retail sales down -0.1%

Thu, 13 Aug 09 05:00 am

Retail sales in the US have fallen by -0.1% the first decline in three months as consumers fear growing unemployment.

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UK unemployment climbs

Wed, 12 Aug 09 05:00 am

ONS figures this morning show UK unemployment has climbed to 2.44 million, or 7.8% in June. This was more than expected by markets and is likely to affect sterling sentiment throughout the day. Minutes from the latest MPC meeting are also due along with an FOMC decision and trade balance figures in the US.

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Unemployment up

Wed, 12 Aug 09 05:00 am

The UK unemployment rate has climbed to 7.8%, or 2.44 million in the three months to June, putting sterling foreign exchange rates under pressure.

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UK retail sales rise

Tue, 11 Aug 09 05:00 am

UK retail sales rose 1.8% in the previous month, boosting hopes of a sterling recovery though uncertain trade balance data out this morning continues to put the pound under pressure. The US dollar has rallied against the euro and the yen remains strong this morning following the Bank of Japan interest rate decision.

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China's falling export levels

Tue, 11 Aug 09 05:00 am

Chinese export and new loan levels fell in July, with industrial production rising less then expected.

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UK trade statistics disappoint

Tue, 11 Aug 09 05:00 am

Figures this morning show the UK trade gap widened in June, signalling that the weak pound is yet to make a real impact on the UK's export levels.

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Real suffers declines

Tue, 11 Aug 09 05:00 am

Currency exchange rates for the Brazilian real have fallen to their lowest level in August on the back of negative economic data from China.

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US unemployment at 9.4%

Mon, 10 Aug 09 05:00 am

Foreign exchange rates for the higher yielding currencies climbed on Friday following news that the US unemployment rate has fallen 0.1% to 9.4%. This supports the view that the US economy is poised on the verge of recovery, albeit from a very low base. UK trade statistics released this week will affect sterling sentiment.

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Euro confidence up

Mon, 10 Aug 09 05:00 am

The Sentix investor confidence survey has shown rising optimism in the eurozone, sending euro foreign exchange rates higher.

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Japan rate decision due

Mon, 10 Aug 09 05:00 am

The Bank of Japan is due to make an interest rate decision overnight, with the base rate expected to stay on hold at 0.1%.

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German exports hit three-year high

Fri, 07 Aug 09 05:00 am

German exports jumped 7.0% month on month in June, widening trade surplus figures from EUR10.2bn to EUR11bn. The encouraging data suggests that demand for German goods is improving, especially from other eurozone countries.

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Pound spikes against USD

Thu, 06 Aug 09 05:00 am

Sterling foreign exchange rates have risen sharply against the US dollar this morning in response to figures showing the service sector expanded in July. Employment figures and factory orders due in the US today could cause currency volatility while Bank of England and ECB interest rate decisions due tomorrow.

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Sterling hits 10-month high

Thu, 06 Aug 09 05:00 am

Currency rates for the pound hit a 10-month high against the US dollar yesterday as the housing, manufacturing and service sectors all reported healthy figures. This suggests recent interest rate reductions and QE policy has helped to stimulate the UK economy and triggered demand for sterling on the back of market optimism. Today US initial jobless claims are due along with the Bank of England and ECB interest rate decision.

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GBP hits 9-month high

Tue, 04 Aug 09 05:00 am

Sterling exchange rates climbed to a 9-month high against the US dollar overnight, touching on USD1.70 on the back of market confidence. The euro also gained ground against the greenback as the manufacturing sector appeared to be on the road to recovery. US personal consumption figures will be of interest to foreign exchange markets today.

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Pound hits USD high

Mon, 03 Aug 09 05:00 am

The rally in risk appetite has continued this morning, with sterling foreign exchange rates rising to a 1.68 against the US dollar and 1.18 against the euro. Better than expected GDP figures in the US have boosted market optimism, also sending the Australian and Kiwi dollars to 2009 highs amid growing optimism in the market.

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