Weekly Currency Update GBP/USD - Week ending 18th June
Jun 22nd 2010, 2:07 pm
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Weekly Currency Update GBP/USD - Week ending 18th June
Hi All,
As promised here’s a brief update on what’s been happening with the US Dollar over the last week.
Last week saw two measures of manufacturing activity exhibit signs of topping out as the need to replenish business inventories diminishes. This will need to be monitored carefully over the coming months as manufacturing has been the mainstay of the US recovery so far and any reduction of manufactory activity will make significant inroads into joblessness that much harder to achieve.
The housing market is also showing some signs of cold turkey after withdrawal of various government stimulus packages; Building Permits, Housing Starts and the NAHB Housing Index all disappointed and with consumer spending crucial to sustained US growth this will cause concern.
GBP/USD movement – High’s & Low’s of last week (14th June –18th June)
High’s: 1.4888
Low's: 1.4540
A movement of 2.39%
Difference on £200,000
High: USD 297,760
Low: USD 290,800
Difference of: USD 6,960
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 US Dollar over the last week.
Last week saw two measures of manufacturing activity exhibit signs of topping out as the need to replenish business inventories diminishes. This will need to be monitored carefully over the coming months as manufacturing has been the mainstay of the US recovery so far and any reduction of manufactory activity will make significant inroads into joblessness that much harder to achieve.
The housing market is also showing some signs of cold turkey after withdrawal of various government stimulus packages; Building Permits, Housing Starts and the NAHB Housing Index all disappointed and with consumer spending crucial to sustained US growth this will cause concern.
GBP/USD movement – High’s & Low’s of last week (14th June –18th June)
High’s: 1.4888
Low's: 1.4540
A movement of 2.39%
Difference on £200,000
High: USD 297,760
Low: USD 290,800
Difference of: USD 6,960
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
