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Weekly Currency Update - GBP/EUR Week ending 18th September

Weekly Currency Update - GBP/EUR Week ending 18th September

Old Sep 21st 2009, 11:20 pm
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Default Weekly Currency Update - GBP/EUR Week ending 18th September

Hi All,

Here’s an update on what’s been happening with the Euro over the last week.

A significant week for GBP/EUR as Sterling slumped to a 4 month low against the Euro at 1.12.

Domestically, Eurozone industrial production fell for a second consecutive month in July, German investor sentiment rose to a three-year high in September but fell short of expectations and falling energy prices kept Eurozone annual inflation in negative territory in August. Survey data will be the key focus in the Eurozone this week, where we can expect to see further improvement in both manufacturing and service sector activity in September and German business morale maintaining its positive bias.

The Euro also rallied to a one-year high against a broadly softer the Dollar last week as equities and commodities advanced on expectations of economic recovery. The Euro shrugged off a largely mixed bag of economic data to climb as high as 1.4766 against the Dollar on Thursday.

GBP/EUR movement – High’s & Low’s of last week (14/09/09 - 18/09/09)

High’s: 1.1441
Low’s: 1.1041

A movement of: 3.62%

Difference on £200k

High: € 228,820
Low: € 220,820

Difference of: € 8,000

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.

A further update will be added next week.

Regards




Mark Bodega
Director - HiFX
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