Daily Market Brief – 26 October 2015

GBP/EUR trading above 1.39 – Compare & Book

Quote of the day: “Small daily improvements are the key to staggering long term results”

October 26th: Highlights

  • Sterling pushes to two month Euro highs on Friday
  • GBPEUR currently trading over 1.39
  • US dollar takes strength from ECB talks
  • China executes sixth interest cut for the year

Sterling Comment

Friday saw little data emerge out of the UK, leaving the British Pound to trade mostly on risk appetite. At the back end of the week, we did see the Single Currency weaken against its two major rivals, as Mario Draghi gave the strongest hint yet that the ECB’s Quantitative Easing programme will be extended by the end of the year. This quickly prompted significant GBP/EUR resurgence. The pair is now trading above 1.39. It’s well worth speaking to your Personal Currency Concierge and logging in to view live rates if you are buying Euros.

With GBP/EUR trading above 1.39, log in to compare live quotes today.

Following a mostly range bound trading for GBP/USD last week, last Friday mostly followed suit with little volatility. Again, the opening of the US acted as a catalyst for Cable volatility, with the British Pound falling just over 1% on the day, to hit two week low of 1.5341, where it is currently trading.

If you are looking to buy or sell US Dollars, log in to compare live quotes today.

Global Highlights

EUR/USD fell a full 1.1 % to a two and a half month low of 1.1017. This depreciation was heavily influenced by the ECB conference which weighs on investor confidence in the single currency

Canadian core CPI came in lower than forecast for the first time since December last year. GBP/CAD gained 1% on the news, hitting highs of 2.0263. The pair is now trading back at 2.0166

The Aussie housing market isn’t performing well, leading to investor speculation that an interest rate cut is on the horizon. GBP/AUD is currently trading at 2.1158

GBP/THB is currently trading around 54.40. Data released this morning showed a large reduction in imports and export contraction.

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Paul Plewman

Paul Plewman
Director of Sales & Operations
t: +44 (0) 20 7096 1036
e: paul@currencytransfer.com

Paul Plewman, Director of Sales & Operations, has over 10-yrs experience in International Payments before joining the CurrencyTransfer.com team. Follow Paul on Twitter @fxplew

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