Go Back  British Expats > Partner Forums > HiFX - International Currency Transfers
Reload this Page >

Weekly Currency Update GBP/USD - Week ending 19th March

Weekly Currency Update GBP/USD - Week ending 19th March

Old Mar 22nd 2010, 11:38 pm
  #1  
BE Enthusiast
Thread Starter
 
Joined: Dec 2004
Posts: 524
Windsor2 will become famous soon enoughWindsor2 will become famous soon enough
Default Weekly Currency Update GBP/USD - Week ending 19th March

Hi All,

As promised here’s a brief update on what’s been happening with the US Dollar over the last week.

Data releases failed to inspire the market in either direction last week, with any weak numbers explained away by the ‘weather impact’. Core consumer inflation data is at 1.3%yr/yr the lowest since Jan 2004. Even if the economy picks up faster, inflation data may give enough ammunition for the doves to hold on to loose monetary policy for longer. Somewhat topical is the fact that upside price pressures persisted from medical care, which saw a second 0.5%, increase.

The weekly payroll survey points to slow job creation in March. The Federal reserve stuck pretty much to previous statements allowing for policy to remain as is for an ‘extended period’. The week ahead holds plenty of data for the housing sector that is likely to show a modest improvement in new and existing home sales.

The volatile durable goods data will be of little consequence as it is shortly followed by Q4 GDP data, which is likely to be revised down to 5.7% from 5.9%. Consumer sentiment data should show an improvement in March. The markets opened the week anxiously as analysts tried to define the impact of the major health reforms, so far it has little impact on equities.

The USD was on the back foot for most of last week but concerns over the Greece bail-out plan once again saw it stage a recovery late in the week.

GBP/USD movement – High’s & Low’s of last week (15th March – 19th March)

High’s: 1.5383
Low's: 1.4977

A movement of 2.71%

Difference on £200,000

High: USD 307,660
Low: USD 299,540

Difference of: USD 8,120

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  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Manage Preferences - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Your Privacy Choices -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.