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Weekly Currency Update GBP/EUR - Week ending 16th April

Weekly Currency Update GBP/EUR - Week ending 16th April

Old Apr 20th 2010, 1:50 am
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Default Weekly Currency Update GBP/EUR - Week ending 16th April

Hi All,

At the beginning of last week we saw the details of the EU bail-out package for Greece (if they were to need it). They agreed to provide loans of up to 30bn Euros at a cost of approximately 5%.

Last week it was the turn of the UK trade data to continue the momentum of improving economic data stemming from the UK. The trade balance recorded the smallest deficit since June 06 due to exports jumping 9.5% in February, the biggest increase since January 03, and a sign that a weaker Pound is having its desired effect.

British retail sales also reflected further pent-up demand from the recession and the bleak winter by jumping 4.4% in March, highlighting confidence on the High Street given the resilient employment market.

GBP/EUR movement – High’s & Low’s of last week (12th April– 16th April)

High’s: 1.1433
Low's: 1.1280
A movement of 1.36%

Difference on £200,000

High: EUR 228,660
Low: EUR 225,600

Difference of: EUR 3,060

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
Windsor2 is offline  

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