Archive for March, 2012

  • Currency News due out this week

    March 28th, 2012

    This week despite nearing the end of the month, there is plenty of economic data likely to keep currency markets moving. Check back for daily updates on the latest currency news here.Monday 26th0700 – UK house prices (Nationwide)1300 – Speech: Federal Reserve (USA) Ben Bernanke1700 – Speech: ECB President DraghiTuesday 27thAll day – G7 meeting0700 – German consumer confidence0930 – UK current account1500 – US consumer confidenceWednesday 28th0700 – German consumer inflation0930 – UK GDP revision and business investment1330 – US durable goodsThu…

  • Brazil: Latin America’s property ‘powerhouse’

    March 27th, 2012

    Brazil's position as ‘the powerhouse' of the Latin American property market
    shows no signs of being challenged in the near future, according to global
    consultancy PricewaterhouseCoopers.

    The company's latest Emerging Trends in Real Estate report 2012 found that
    Brazil's 2012 GDP growth will be well ahead of Europe and USA. As a result
    property prices are spiking, with prices per square foot for apartment condos
    in São Paulo and Rio de Janeiro now exceeding those in Washington and New York.

    "Brazil is going…

  • Sterling Falls On BoE Minutes

    March 24th, 2012

    This morning we have seen the pound lose ground to all major currencies as borrowing figures was nearly double the forecast. It rose from £8.9 billion in February to £15.2 Billion, much more than the expected £8 billion. This figure will come as a big blow to George Osbourne on the day of his third budget at lunchtime today.

    In addition to this the Bank of England minutes from the meet earlier in the month showed 2 members voted for a further increase to Quantitative Easing by another £25 Billion highlighting the Bank could still impleme…

  • Sterling Drops On Retail Figures

    March 24th, 2012

    Manufacturing PMI in the EMU also dropped from 49.0 to 47.7 in March, despite a rising consensus of 49.5. Services data dropped by 0.1 from 48.8 to 48.7, against 49.2 expectations. Anything below 50 is seen as contraction in the sector and therefore negative. A drop into further contraction obviously doesn’t bode well, hence the Euro sell off first thing today.

    Unfortunately the 1.2 trading level was short lived as retail sales in the UK came in lower than forecast. For the month sales came in at -0.8% compared to expected -0.4% and 1% for …

  • Consumer Confidence Knocks The Pound

    March 24th, 2012

    Forecasters were predicting a rise in consumer confidence from last months 47 reading to 49 for February but the figure came in at a lowly 44. Anything under 50 is seen as negative so the poor reading knocked the pound. Later this morning the British Bankers Association released mortgage approval levels which also came in under expectations at 33,100 approvals compared to 39,100 whilst also downgrading the reading for the previous month.

    With no Euro zone data out today to harm the single currency the UK data took affect, losing half a cent a…

  • Is this 2012′s biggest property money-spinner?

    March 23rd, 2012

    If you had to name the biggest themes that could shape the industry this year, most of us would probably name the Eurozone crisis, the upcoming elections in France or Greece or the emergence of the US housing market from its record slump.

    All of these issues will impact overseas property sales. However, another less talked about development is about to have a huge impact on transaction volumes.

    The Turkish government is on the verge of abolishing the recipricrocity law which will lift restrictions on buyers in the Arab world purchasing in…

  • Hollywood director lists Malibu estate at $13.5m

    March 23rd, 2012

    Screenwriter and director Stephen Sommers and his wife,Jana, have listed their estate in Malibu for sale at $13.5 million.

    Set in the gated community of Serra Retreat at the end of a cul-de-sac, the rebuilt and remodeled main house and detached guesthouse sit on 1.5 acres with a sports court, outdoor fireplace, a barbecue center and expansive lawns. The free-form swimming pool features waterfalls and a slide.

    Interior amenities include a home theater, double-island kitchen, two family rooms, six bedrooms and nine bathrooms in …

  • Sterling down on credit ratings

    March 21st, 2012

    The Pound fell back from 1-month highs against the Euro today, as Moody’s and Fitch both said that Britain may lose its triple-A credit rating.Credit ratings are important for a currency, since they influence inward investment and therefore demand for the local currency.Tomorrow there is no major data due out in the UK but with Wednesday’s budget looming, we are sure to see some volatility for commercial exchange rates in the coming days….

  • US inflation weakens dollar

    March 21st, 2012

    Today’s inflation figures from the USA weakened the dollar, improving exchange rates for money transfers to the USA.Rates have improved nealy 1% during the afternoon, reversing the trend so far through the week, after figures showed that inflationary pressure is building in the US economy, and also data showing industrial production growth was flat in February.Buying US dollars is now as cheap as 10 days ago and near the top of recent trading ranges….

  • This week’s currency news

    March 20th, 2012

    This week sees the UK budget on Wednesday, as well as important news out around the world likely to affect exchange rates:Monday 19thNo major dataTuesday 20th0030 – Reserve Bank of Australia minutes0700 – German producer inflation0815 – Swiss industrial production0930 – UK consumer & retail inflation2145 – New Zealand current accountWednesday 21stUK budget0930 – Bank of England minutes & public sector borrowing1400 – US existing home sales2145 – New Zealand GDPThursday 22nd0700 – Swiss trade balance0930 – UK retail sales1230 – Canadan retail sa…

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