Weekly Currency Update GBP/EUR - Week ending 11th June
Jun 14th 2010, 2:08 pm
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Weekly Currency Update GBP/EUR - Week ending 11th June
Hi All,
As promised here’s a brief update on what’s been happening with the Euro over the last week.
Last week, signs that a weaker Euro is beginning to stimulate the euro zone economy could be seen in German factory orders, which were up a hearty 2.9% in April and 29.6% from a year ago. Economic data in the UK continued to show a mixed picture in terms of this recovery with strong retail sales according to the British Retail Consortium contrasted by a dip in industrial and manufacturing production. Cameron continued to warn of deep cuts in the public sector as the platform is set for the budget on the 22nd June.
Interesting to note that we didn’t see any further escalation in the sovereign debt crisis and indeed for the first time in a number of months, the pressure seems to be off the Euro.
GBP/EUR movement – High’s & Low’s of last week (7th June –11th June)
High’s: 1.2180
Low's: 1.1996
A movement of: 1.53%
Difference on £200,000
High: EUR 243,600
Low: EUR 239,920
Difference of: EUR 3,680
Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.
Regards
Mark Bodega
Director - HiFX
As promised here’s a brief update on what’s been happening with the Euro over the last week.
Last week, signs that a weaker Euro is beginning to stimulate the euro zone economy could be seen in German factory orders, which were up a hearty 2.9% in April and 29.6% from a year ago. Economic data in the UK continued to show a mixed picture in terms of this recovery with strong retail sales according to the British Retail Consortium contrasted by a dip in industrial and manufacturing production. Cameron continued to warn of deep cuts in the public sector as the platform is set for the budget on the 22nd June.
Interesting to note that we didn’t see any further escalation in the sovereign debt crisis and indeed for the first time in a number of months, the pressure seems to be off the Euro.
GBP/EUR movement – High’s & Low’s of last week (7th June –11th June)
High’s: 1.2180
Low's: 1.1996
A movement of: 1.53%
Difference on £200,000
High: EUR 243,600
Low: EUR 239,920
Difference of: EUR 3,680
Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.
Regards
Mark Bodega
Director - HiFX
