CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider (Saxo Bank). You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money.

Staying on top of the latest currency news can help you time your transfers more effectively, so find out what you should be looking out for over the next couple of weeks…

Latest currency news

The pound is roaring ahead so far in 2019, with Brexit news helping to propel Sterling to new multi-month highs over the past couple of weeks.

This has seen GBP/EUR strike a 19-month high as the pairing rose from €1.11 to €1.15, while EUR/GBP has fallen from £0.89 to £0.86.

Meanwhile, GBP/USD has climbed from $1.28 to $1.32, while EUR/USD held at $1.14.

What’s been happening?

The pound has found considerable support in recent weeks, with GBP investors becoming increasingly confident that the UK will avoid a no-deal Brexit, despite MPs overwhelming rejecting Theresa May’s EU withdrawal deal earlier in the month.

Meanwhile the euro has stumbled in the second half of January as it was undermined by a mix of gloomy Eurozone data as well as increasingly dovish signals from the European Central Bank.

At the same time the US dollar has found itself fluctuating in recent weeks, as the US government shutdown limited the release of domestic data and resulted in USD becoming increasingly sensitive to external influences.

What do you need to look out for?

Brexit is to remain a key catalyst for movement in the pound in the coming weeks with an upcoming parliamentary debate on Theresa May’s ‘Plan B’ likely to be in the spotlight.

Meanwhile the release of the Eurozone’s latest GDP figures will likely be in focus for EUR investors, with the euro poised to soften if growth remained subdued in the fourth quarter.

Finally, a temporary pause in the US government shutdown will result in a sizable US data dump over the next couple of weeks, potentially prompting some swings in the US dollar.


Our friends at Currencies Direct

At Currencies Direct we’re here to talk currency whenever you need us, so get in touch if you want to know more about the latest news or how it could impact your currency transfers.

Since 1996 we’ve helped more than 250,000 customers with their currency transfers, just pop into your local Currencies Direct branch or give us a call to find out more.

Exclusive Offer for Collins Sarri Statham Clients & Newsletter Subscribers

Find out more

Post a comment

Your email address will not be published. Required fields are marked *

Get Started with CSS

Open an Account

Subscribe to our award winning daily newsletter

Voted "Best Market Newsletter" in 2012, 2014, 2015 and 2017 by the City of London Wealth Management Awards

Subscribe to our newsletter (Popup)

By signing up to our free email, you are consenting to receive these promotions. The newsletter is sent up to three time per day during the week and up to once per day over the weekend. The newsletter contains company news, market movements, CSS research and promotions and breaking economic news. Occasionally our newsletter will contain advertisements from trusted partners. However, we will never give, sell or rent your email address to any other companies. If you want to stop receiving our free emails you can unsubscribe at any time by clicking on the link at the bottom of each email. You can read our privacy policy here.

Sending
No, thank you I am already subscribed