Currency Converter

Currency Converter



Thursday, October 31, 2024

Overnight Dollar Movements Consistent with Expectation that Trump Wins Back the Presidency

The U.S. currency slipped 0.3% against the euro and sterling and 0.2% relative to the Swiss franc and New Zealand dollar. U.S. Republican presidential candidate Trump favors a weaker dollar to trim the trade deficit. One currency that instead fell 0.5% overnight against the dollar was the Mexican peso. Mexico would take a lot of […]

* This article was originally published here

Sunday, October 27, 2024

Bank of Canada’s Overnight Rate Slashed 50 Basis Points to 3.75%

The overnight interest rate, which had been held at a peak 5.0% from July 2023 until this past June, was cut today by the Bank of Canada’s Governing Council by 50 basis basis points. This doubled the ante of 25 basis points used for previous reductions in June, July and September and brings the rate […]

* This article was originally published here

Friday, October 25, 2024

Pound Sterling Hampered by US Election Jitters, GBP/USD Close to 2-Month Lows

The dollar has maintained a strong tone in global markets amid a further increase in US bond yields with weaker UK equities also a negative factor. The Pound to...

* This article was originally published here

Tuesday, October 22, 2024

Pound to Euro Week Ahead Forecast: ECB Rate Cut Trumps BoE Speculation

Goldman Sachs expects further short-term Pound to Euro (GBP/EUR) exchange rate gains to 1.2120 and maintains a 12-month forecast of 1.2200. Although RBC Capital Markets...

* This article was originally published here

Sunday, October 20, 2024

The New Zealand Dollar to Pound Rate Drops Sharply as the RBNZ Cut 50bps

Wednesday’s session is mostly flat as the dollar and yields consolidate recent gains. The big move of the day comes from the New Zealand dollar which fell...

* This article was originally published here

Saturday, October 19, 2024

Little Doubt that ECB Will Be Cutting its Interest Rate Today. Also Awaiting Turkish Central Bank Decision and Several U.S. Data Releases

Consumer price inflation in the euro area last month was just revised downward by a tenth of a percentage point to a 41-month low of 1.7%. That’s below target and down from the October 2022 peak of 10.6%. Between June and September, consumer prices were unchanged on balance. With today’s revision, service sector revision has […]

* This article was originally published here

Thursday, October 17, 2024

Upcoming U.S. CPI Sharing Spotlight with Fed & ECB Meeting Minutes

U.S. consumer price data are due in less than three hours. Analysts project a slight further dip in inflation but worry about the risk of an upside surprise. FOMC minutes released yesterday afternoon revealed more members comfortable with a 25-basis point interest rate cut last month than realized when the majority opted instead for a […]

* This article was originally published here

Saturday, October 12, 2024

Pound to Euro End-of-Week Forecast: GBP/EUR Nosedives following BoE Remarks

The Pound Euro exchange rate plunged on Thursday as the currency pairing was severely undermined by the latest commentary from Bank of England Governor Andrew...

* This article was originally published here

Wednesday, October 9, 2024

GBP to USD Exchange Rate Plunges thanks to Risk-Off Flows

The Pound US Dollar exchange tanked on Tuesday as a cautious market mood severely undermined the currency pairing. At the time of writing, GBP/USD was trading at...

* This article was originally published here

Saturday, October 5, 2024

China Stimulus Measures Unleash Fresh Pound Buying

Sterling has continued to make headway in currency markets with the Pound to Dollar (GBP/USD) exchange rate hitting 31-month highs around 1.3380. The latest round of...

* This article was originally published here