Spain News

The Pound Sterling to Canadian Dollar (GBP/CAD) exchange rate made solid gains on Thursday morning after the UK and EU agreed an expanded political declaration on their future relationship. This development prompted markets to lower the odds of a no-deal Brexit, giving the Pound a strong boost across the board. Although reaction to the details of the declaration proved mixed, with many MPs still appearing minded to vote against the proposed Brexit deal, this was not enough to weigh down GBP exchange rates. Even the threat of...

In response to some underwhelming Eurozone ecostats and a recovering US Dollar, the Euro to US Dollar (EUR/USD) exchange rate shed most of its Monday gains on Tuesday. If German inflation projections due on Thursday disappoint too, the Euro to US Dollar exchange rate could continue to fall. After edging higher from 1.2296 to 1.2358 last week, EUR/USD jumped on Monday and touched on a high of 1.2472 on Tuesday morning. This was the pair’s best level in over a month, since mid-February. The pair continued to trend above the week’s...

Thanks to some decent UK ecostats, the British Pound to Euro exchange rate edged higher from its worst levels on Thursday. However, as investors anticipated a major Brexit speech from UK Prime Minister Theresa May on Friday, the Pound has only had limited appeal against the Euro. Since opening this week at the level of 1.1361, GBP/EUR has generally trended lower. On Wednesday the pair reacted to the latest Brexit developments by shedding almost a cent and hitting a two-week-low of 1.1269, but towards Thursday the pair neared the level...

Uncertainty ahead of a key week for Eurozone news and European politics weighed on the Euro to US Dollar (EUR/USD) exchange rate on Monday, preventing the pair from sustaining any gains. The US Dollar saw steady demand despite market anxiety ahead of a testimony from Fed Chair Powell on Wednesday. Due to a stronger US Dollar, last week saw EUR/USD plunge from 1.2413 to 1.2293. The pair briefly touched on a low of 1.2261 on Thursday. On Monday EUR/USD briefly advanced, but its gains were limited and the pair was trending near the...

Despite some unexpectedly high US inflation data on Wednesday, the Euro to US Dollar exchange rate only saw a brief dip before trending near its daily highs towards the end of the European session. The Euro was supported by strong Eurozone growth data throughout the day. Since opening the week at the level of 1.2253, EUR/USD has spent recent sessions climbing. While EUR/USD briefly dipped by over half a cent on Wednesday afternoon, the pair promptly recovered and touched on a weekly high of 1.2401 before European markets closed. The...

Euro Outlook: Losses Possible if Catalan President Declares Independence Given the circumstances, the Euro has been faring well against the US Dollar today. The EUR USD exchange rate has been progressively rising this week, in spite of high tensions in the Spanish region of Catalonia. The actual source of the Euro’s rise today has been news of a higher trade balance in Germany. In August, the national trade surplus has risen from 19.6bn to 20bn. Elsewhere, the seasonally adjusted trade surplus has also increased while Germany’s...

The Euro to US Dollar exchange rate saw a surge in demand on Tuesday, as investors bought the shared currency up in reaction to the latest comments from European Central Bank (ECB) President Mario Draghi. EUR/USD gains were limited by impressive US consumer confidence however. EUR/USD began this week trading at the level of 1.1190. After trending flatly at the beginning of the week, the pair surged to a fresh 2017 high of 1.1297 on Tuesday. This was the pair’s best level since August 2016. Investors were surprised by unexpectedly...

Euro Jumps in Demand against GBP as Eurozone Confidence Stats Surprise Investors While the Eurozone consumer confidence flash for December was expected to improve regardless, the fact that it moved closer to a positive range than expected proved greatly beneficial to the Euro against the Pound. An advance to 0.84 in the pairing was recorded on Thursday afternoon, although the Euro had remained strong against Sterling for most of the day owing to investor optimism. Looking forward to remaining Eurozone data before Christmas Day on...

Disappointing Swiss Industrial Production has prompted the Swiss Franc (CHF) to weaken, while the Euro (EUR) has strengthened on the back of improved German consumer confidence. Euro Exchange Rate Trends Higher as German Consumer Confidence Improves While traders have remained somewhat wary of the Euro (EUR) this week the single currency began to claw back ground on Thursday morning after the latest German GfK Consumer Confidence Survey. Unexpectedly climbing from 9.4 to 9.5 the measure suggests that consumer sentiment within the...

Pound Sterling The prospects of the Pound have not picked up this week as Monday morning saw the release of the latest UK Services PMI, which proved to be a decided disappointment. As traders had been anticipating sector expansion, at 56, the actual result of 53.3 sparked fresh fears of domestic economic contraction and prompted a general downturn for the currency. With the service industry making up the single largest portion of the UK GDP this dovish data was not considered to bode well for the longer-term prospects of...