Currency Converter

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Wednesday, May 29, 2024

Middle East Tensions and Central Bank Official Comments Sour Market Sentiment

Minutes from this month’s Reserve Bank of Australia interest rate-setting meeting in early May did consider a rate hike, citing risks such as rising inflation expectations and weaker productivity growth. The 4.35% Official Cash Rate since a 25-basis point hike last November was left unchanged but the minutes suggest that a future hike is more […]

* This article was originally published here

Tuesday, May 28, 2024

Pound Sterling: UK Economy Back to Growth with an Impressive Rebound in GDP

The UK economy grew by 0.6% in Q1. This follows on from two quarters of contraction. Real wage growth is a positive for the economy. The FTSE is rallying...

* This article was originally published here

Wednesday, May 22, 2024

Pound to Dollar Rate Trades Above 1.25 as US Growth Doubts Keep GBP Afloat

The Pound to Dollar (GBP/USD) exchange rate held above 1.2500 on Friday, but was unable to build on gains seen after the UK GDP data and held below 1.2550 with the...

* This article was originally published here

Tuesday, May 21, 2024

Middle Eastern Uncertainty Ramps Even Higher

The wreckage of the helicopter carrying Iranian President Raisi, Foreign Minister Amirabdollahian and other key officials has been found in dense mountainous terrain with no survivors. The accident was initially attributed to “technical failure,” but these are early and uncertain days of mourning for Iran. Acting officials have been appointed, and a presidential election is […]

* This article was originally published here

Saturday, May 18, 2024

Next Week’s Menu: May 11-17, 2024

Central Banks: Monetary policies will be reviewed in the Philippines and Romania. Jefferson, Mester, and Bostic of the Fed speak publicly, as well Mann of the Bank of England and Hunter of the Reserve Bank of Australia. Special Events: Monthly OPEC and EU finance minister meetings. Scheduled U.S. Data Releases: Consumer prices, producer prices, import […]

* This article was originally published here

Tuesday, May 14, 2024

Pound Sterling: Downbeat OECD Outlook Undermines GBP, EUR Below 1.17

The Pound to Euro exchange rate (GBP/EUR) dipped to lows near 1.1680 in early Europe on Thursday before a recovery to near 1.1700. The Pound was undermined by a downbeat...

* This article was originally published here

Saturday, May 11, 2024

Pound to Euro Forecast For Week Ahead: Where Next for GBP/EUR?

ING forecasts the Pound to Euro exchange rate (GBP/EUR) will weaken to 1.1365 at the end of 2024 as the Bank of England cuts interest rates more aggressively over the second...

* This article was originally published here

Friday, May 10, 2024

Pound to Euro Rate Consolidates Above 1-Week Lows Ahead of BoE

The Pound to Euro exchange rate (GBP/EUR) dipped to 1-week lows just below 1.1650 on Friday before a tentative recovery to 1.1665. Growth...

* This article was originally published here

Sunday, May 5, 2024

Sterling Recovery Continues, Pound to Dollar Rate Above 1.25

Although the US Dollar has posted 34-year highs against the Japanese Yen, the US currency has not been able to sustain the advance against European currencies. The...

* This article was originally published here

Thursday, May 2, 2024

April 2024 in Figures

In April, 10-year sovereign debt yields rose roughly as much, and in the U.S. case more, than in the whole first quarter. Central bank short-term interest rates were not changed in any of the central banks featured in the table below but fell by 20 percentage points in Argentina, 200 basis points in Kyrgyzstan, 100 […]

* This article was originally published here

Wednesday, May 1, 2024

Pound to Euro Week Ahead Forecast: 1.1240-1.2050 12-Month Ranges

Foreign exchange strategists at Danske still expect the Pound to Euro (GBP/EUR) exchange rate will slide to 1.1240 in the next twelve months. In contrast, BNP Paribas...

* This article was originally published here