FX-Foreign Exchange

Foreign Exchange Daily News Friday 10th February, 2012

2012-02-10T00:32:43-08:00

The Greek coalition government has reached common ground on the pension cut reforms which was the last sticking point. There is still however disbelief over the effectiveness of the new Greek austerity plan and this is making the Euro group reluctant to sign off on a fresh second bailout worth €130 billion. These are the most painful austerity measures that Greeks will witness in their life time.

The USD/CHF cross is trading in the positive territory on Friday ahead of the inflation data which is due later on today. The consensus expects a contraction of 0.3% MoM and a 0.7% print over the last year.

The Bank of England agreed on further easing measures and is going to inject 50 billion into the British economy. The Bank of England has decided to maintain interest rates at the current level 0.5% where they have stood since 2009.

The number of Americans claiming for unemployment insurance payment has fallen to 358 thousand from 373 thousand in the weekending 31st January. These levels should now be consistent with solid payroll gains.

The EUR/USD is trading lower this morning as risk appetite appears to wane. Greece is still the focus of attention as yesterdays deal seems to be insufficient and many market participants have started to questions its implementation. The cross is down 0.15% at 1.3255 at the time of writing.

Resistances at 1.5934 have repelled the GBP/USD which is expected to slowly slide down to 1.5730 first of all and then down to 1.5660.

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Live Global Currency Exchange Rates Table

2012-02-09T22:15:30-08:00

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Currencies - Cross Rates

	GBP	EUR	USD	AUD	AED	SEK
GBP	1	1.1597	1.56125	1.58516	5.74109	10.66881
EUR	0.86229	1	1.34626	1.36687	4.9505	9.19963
USD	0.64051	0.7428	1	1.01531	3.67723	6.83349
AUD	0.63085	0.7316	0.98492	1	3.62178	6.73045
AED	0.17418	0.202	0.27194	0.27611	1	1.85833
SEK	0.09373	0.1087	0.14634	0.14858	0.53812	1

Other Currencies

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Euro Rates

2012-02-09T22:13:13-08:00

Euro value on 10th February, 2012

For live foreign global currency exchange rates vs euros, either use our currency converter, or go to our LIVE Currency Exchange Rates Information.

Buy and sell euros at the best rates here. The rates shown are interbank rates at a fixed point and are presented as a presented as a guide to the foreign exchange rates this morning. As foreign exchange services providers, we buy and sell pounds at the best rates here. The rates shown are interbank rates at a fixed point and are presented as a guide.

	1 EUR	in EUR
American Dollar	1.3288	0.752559
Argentine Peso	6.31735	0.158294
Australian Dollar	1.2295	0.813339
Brazilian Real	2.28819	0.437026
British Pound	0.836649	1.19524
Bulgarian Lev	1.95579	0.511301
Canadian Dollar	1.3219	0.756487
Chilean Peso	631.735	0.00158294
Chinese Yuan	8.3717	0.11945
Colombian Peso	2358.86	0.000423934
Croatian Kuna	7.58569	0.131827
Danish Krone	7.432	0.134553
Hong Kong Dollar	10.3056	0.0970346
Hungarian Forint	290.899	0.00343761
Iceland Krona	162.022	0.00617201
Indian Rupee	65.583	0.0152478
Indonesian Rupiah	11855.7	8.43477e-05
Israeli New Shekel	4.939	0.20247
Japanese Yen	102.63	0.00974374
Latvian Lat	0.698899	1.43082
Lithuanian Litas	3.45279	0.289621
Malaysian Ringgit	4.0004	0.249975
Mexican Peso	16.8766	0.0592538
New Zealand Dollar	1.5896	0.629088
Norwegian Kroner	7.62999	0.131062
Pakistan Rupee	120.636	0.00828943
Philippine Peso	56.1319	0.0178152
Romanian Leu	4.35349	0.229701
Russian Ruble	39.5546	0.0252815
Singapore Dollar	1.65479	0.604305
South African Rand	10.0959	0.0990501
South Korean Won	1483.8	0.000673943
Sri Lanka Rupee	152.553	0.00655511
Swedish Krona	8.80449	0.113578
Swiss Franc	1.2103	0.826242
Taiwan Dollar	39.1628	0.0255345
Thai Baht	40.861	0.0244732
Trinidad/Tobago Dollar	8.48946	0.117793
Turkish Lira	2.33309	0.428616
Venezuelan Bolivar	5.70609	0.175251

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British Pound Rates

2012-02-09T22:13:02-08:00

British Pound Sterling value on 10th February, 2012

For live foreign global currency exchange rates vs British Pounds, either use our currency converter, or go to our LIVE Currency Exchange Rates Information.

Buy and sell Pounds Sterling at the best rates here. The rates shown are interbank rates at a fixed point and are presented as a guide to the foreign exchange rates this morning. As foreign exchange services providers, we buy and sell pounds at the best rates here. The rates shown are interbank rates at a fixed point and are presented as a guide only.

	1 GBP	in GBP
American Dollar	1.58824	0.629628
Argentine Peso	7.55078	0.132437
Australian Dollar	1.46955	0.68048
Brazilian Real	2.73495	0.365638
Bulgarian Lev	2.33765	0.42778
Canadian Dollar	1.57999	0.632915
Chilean Peso	755.078	0.00132437
Chinese Yuan	10.0062	0.0999378
Colombian Peso	2819.41	0.000354684
Croatian Kuna	9.06675	0.110293
Danish Krone	8.88305	0.112574
Euro	1.19524	0.836649
Hong Kong Dollar	12.3177	0.081184
Hungarian Forint	347.696	0.00287608
Iceland Krona	193.656	0.00516381
Indian Rupee	78.3877	0.0127571
Indonesian Rupiah	14170.4	7.05695e-05
Israeli New Shekel	5.90331	0.169396
Japanese Yen	122.668	0.0081521
Latvian Lat	0.835355	1.1971
Lithuanian Litas	4.12693	0.242311
Malaysian Ringgit	4.78146	0.209141
Mexican Peso	20.1716	0.0495747
New Zealand Dollar	1.89996	0.526326
Norwegian Kroner	9.1197	0.109653
Pakistan Rupee	144.189	0.00693534
Philippine Peso	67.0914	0.014905
Romanian Leu	5.20349	0.192179
Russian Ruble	47.2774	0.0211517
Singapore Dollar	1.97788	0.505591
South African Rand	12.0671	0.0828702
South Korean Won	1773.51	0.000563854
Sri Lanka Rupee	182.338	0.00548433
Swedish Krona	10.5235	0.0950253
Swiss Franc	1.4466	0.691274
Taiwan Dollar	46.8091	0.0213634
Thai Baht	48.8388	0.0204755
Trinidad/Tobago Dollar	10.147	0.0985515
Turkish Lira	2.78861	0.358601
Venezuelan Bolivar	6.82017	0.146624

Call us for our best GBP, Pounds Sterling price. +44 (0)1480 458400 or 07525 984456

US Dollar Rates

2012-02-09T22:12:35-08:00

US Dollar value on 10th February, 2012

For live foreign global currency exchange rates vs usd, either use our currency converter, or go to our LIVE Currency Exchange Rates Information.

	1 USD	in USD
Argentine Peso	4.75418	0.210341
Australian Dollar	0.925271	1.08076
Brazilian Real	1.722	0.58072
British Pound	0.629628	1.58824
Bulgarian Lev	1.47185	0.679417
Canadian Dollar	0.994807	1.00522
Chilean Peso	475.418	0.00210341
Chinese Yuan	6.3002	0.158725
Colombian Peso	1775.18	0.000563323
Croatian Kuna	5.70868	0.175172
Danish Krone	5.59302	0.178794
Euro	0.752559	1.3288
Hong Kong Dollar	7.75557	0.12894
Hungarian Forint	218.919	0.0045679
Iceland Krona	121.931	0.00820136
Indian Rupee	49.3551	0.0202613
Indonesian Rupiah	8922.1	0.000112081
Israeli New Shekel	3.71689	0.269042
Japanese Yen	77.2351	0.0129475
Latvian Lat	0.525963	1.90127
Lithuanian Litas	2.59843	0.384848
Malaysian Ringgit	3.01054	0.332166
Mexican Peso	12.7006	0.0787364
New Zealand Dollar	1.19627	0.835932
Norwegian Kroner	5.74202	0.174155
Pakistan Rupee	90.7854	0.011015
Philippine Peso	42.2426	0.0236728
Romanian Leu	3.27626	0.305226
Russian Ruble	29.7672	0.033594
Singapore Dollar	1.24533	0.803
South African Rand	7.59776	0.131618
South Korean Won	1116.65	0.000895536
Sri Lanka Rupee	114.805	0.00871042
Swedish Krona	6.6259	0.150923
Swiss Franc	0.910822	1.09791
Taiwan Dollar	29.4723	0.0339302
Thai Baht	30.7503	0.03252
Trinidad/Tobago Dollar	6.38882	0.156523
Turkish Lira	1.75579	0.569544
Venezuelan Bolivar	4.29417	0.232874

Call us for our best US Dollar price. +44 (0)1480 458400 or 07525 984456

Daily Foreign Exchange News Wednesday 9th February, 2012

2012-02-09T00:32:24-08:00

Last night the Greek talks ended past midnight with no deal according to sources. The Greek political chiefs seem to be disagreeing about the pension cuts but do seem to have agreed about cutting the minimum wage by 30%. We understand that this is the last sticking point.

The EUR/USD has now left the 1.3300 mark after the Asian close on Thursday. As we write this morning the cross is up 0.40% at 1.3301 with resistances levels waiting at 1.3280 ahead of 1.3436 then 1.3550 and 1.3582.

The GBP/AUD is under a consolidation phase near record lows high are currently at 1.4645 after the rejection of a session high in the 1.4700 area.

The GBP/USD has bounced off a 200 day ma at 1.5937 and is now heading down to 1.5730 which is leaving less chance for further gains.

US stocks closed positive yesterday whilst the investors waited for the outcome of negotiations between Greece and the troika.

Swiss unemployment remained unchanged in January and the jobless rate was 3.1 per cent which was the same as in December.

Latest FX News Wednesday 8th February, 2012

2012-02-08T00:34:51-08:00

We have no news to report on the Greek deal that the Troika has delayed the presentation of the final draft until tomorrow. We will have to wait and see but it is thought that the Greek government is preparing a final version of n agreement on a budget and structural measures required for a 130 billion euro bailout.

Unemployment in Switzerland has risen to 3.4% in January although this was below the 3.5% that was expected and was slightly higher than the 3.3% of December. The USD/CHF was hammered on Tuesday as risk on trade sharpened. The USD/CHF is losing just 0.01% at 0.9123 and the next resistance levels are located at 0.9179 ahead of 0.9263.

The EUR/USD is hitting fresh highs above 1.3280 after bouncing off of a session low at 1.3240 following a quiet session in the Asian session. There have been reported large stops above 1.3270 and we have seen no rush to cover this so it suggests fresh selling interest.

Yesterday saw most of the British stocks tumble amid investors waiting a solution of the Greek sovereign debt crisis. UK investors were negatively surprised about the German industrial output data.

US stocks rose again yesterday as investors have been waiting for the outcome of discussion on a financial aid package for Greece.

The EUR/JPY is continuing to recover from 99.00/98.00. The immediate resistance is at 102.55/60, above which the pair should meet 107.85. Supports may be found at 101.12 and at 100.00.

Daily FX News Tuesday 7th February, 2012

2012-02-07T00:29:52-08:00

There is still great uncertainty over Greece and the negotiations. There has been a 24 hour strike called in response to the increment of the austerity measures that have been asked by the “troika” needed to pave the way for the next tranche of the bailout package.

The market is still expecting a deal to me made although they have ignored yet another deadline made given by the European Officials earlier on in the day. The Greek political parties will meet with the PM again this morning Athens time t try and agree to the strict demands laid down by the Troika. The agreement has to be made for releasing the second bailout package as without this they will be unable to pay for the 14.5 billion euro bond redemption on March 20th and the country would face a disorderly default.

UK house prices have risen 0.6% to £160,907 in January. This is the first rise in three months according to the Halifax.

The AUD/USD is hovering over 1.0800. In an unexpected move, the RBA has left the overnight interest rate unchanged at 4.35% which is widely against the opinion of many. The RBA expects the economic growth to follow the trend and inflation to remain in the target proximities. The AUD jumped 100 pips soon after the decision was made to 1.0810 which is a session high. At the time of writing the cross is advancing 0.68% at 1.0793.

The USD/JPY is gradually recovering from 76.00 support. Resistances at 76.87 and 77.16 will stand in its way, hampering bullish movement. Dips below 76.00 should be limited b supports.

FX-Foreign Exchange Daily News Monday 6th February, 2012

2012-02-06T01:28:19-08:00

As Greece gets ever closer to bankruptcy the talks to resolve the issue of restructuring the private held debt by Greece remains very slow and it appears it is no longer going ahead until there is enough guarantees that Athens can implement more severe austerity reforms. We understand that Athens is now pursuing the banks, insurers and ECB to take losses of about 70% so that Greece can ease its 100 BLN Euro debt burden with a 14.5 billion Euro deadline due to be paid by mid march.

This morning the EUR/USD is trading in the lower end of Monday’s range as the uncertainties in Greece are weighing hard in market sentiment.

The service sector of the UK has started 2012 on a positive note with business and activity expanding at a faster pace. The Business activity index hit the 10 month high pace of 56.0 last month compared t 54.0 in December’s reading. The sentiment also improved as business expectations soared to more than 15 year high.

The Euro zone retail sales declined unexpectedly in December. Retail sales fell 0.4 per cent from November after declining by the same amount in October.

The EUR/JPY is attempting to base around 99.00/98.90 and in the meantime rallies are unlikely to extend above 55 day ma at 1.1.21 and additional resistance at 102.55/60. Below 99.00/98.90 the pair will target 97.04.

The AUD/USD is trading in a tight range around 1.710-30 due to weak inflation report and the retail sales in Australia which after a stronger European opening, the pair has revolved to the downside to test the 1.0700 level.

Foreign Exchange Daily News Friday 3rd February, 2012

2012-02-02T23:47:02-08:00

Hopes of an agreement being sorted between Greece and its private bondholders dashed yesterday due to the oppositions of some of the Greek political leaders. Towards additional spending cuts demanded by the lenders as well as a disagreement between the IMF and Germany on the involvement of the ECB in the bond swap.

The creditors in Greece doubt the country’s ability to carry out all of the necessary reforms n order to reduce debt and have demanded more austerity measured which the Greek officials have said no to as they fear that implementing them would further aggravate an already serous recession in the country.

The EUR/USD is expected to remain capped by a key resistance line located at 1.3245/50 despite the pair’s recent advancement.

The GBP/USD uptrend is expected to continue from support level 1.5790 which will be followed by reaching resistance level 1.5955.

The APPRECIATION OF THE Swiss franc against the single currency appears to be unstoppable with SNB’s interim President T Jordan saying the bank is ready to buy EUR/CHF in unlimited quantities in an effort to cut down the downside that has been accelerated after the SNB quarterly meeting last December.