Currency Today Blog https://currencytoday.co.uk/travel-blog Compare Holiday Money Wed, 24 May 2017 09:25:18 +0000 en-US hourly 1 http://wordpress.org/?v=3.6 Today’s Best Euro Rates https://currencytoday.co.uk/travel-blog/todays-best-euro-rate/ https://currencytoday.co.uk/travel-blog/todays-best-euro-rate/#comments Wed, 24 May 2017 09:25:18 +0000 admin https://currencytoday.co.uk/travel-blog/?p=3036 Our historic Euro currency graph will help you find the Best Euro Rate to Ensure you buy your Euro travel money at the best Euro rate available online. In addition, If you need to sell Euros at the very best rates you will find a list of today's live up to date best Euro exchange rates for International money transfers Today's Best Euro Rates (Travel Money)   Pound to Euro 1.146   Today's Best Euro Rates for International Money Transfer Captured From Our Top Featured Broker.   Currency to and From Live Best Exchange Rate.   Pound to Euro 1.161 Euro to Pound 0.861   US Dollar to Euro 0.055 Euro to US Dollar 1.118   Argentine Peso to Euro 18.149   Australian Dollar to Euro 0.668 Euro to Australian Dollar 1.498   Euro to Brazilian Real 3.659 Brazilian Real to Euro 0.273   Euro to Bulgaria Lev 1.977 Bulgaria Lev to Euro 0.506   Euro to Canadian Dollar 1.511 Canadian Dollar to Euro 0.662   Euro to Chinese Yuan 7.716 Chinese Yuan to Euro 0.13   Euro to Croatia Kuna 7.457 Croatia Kuna to Euro 0.134   Euro to Czech Koruna 26.525 Czech Koruna to Euro 0.038   Danish Krone to Euro 0.134 Euro to Danish Krone 7.446   Euro to Egyptian Pound 20.492 Egyptian Pound to Euro 0.049   Euro to Hong Kong Dollar 8.718 Hong Kong Dollar to Euro 0.115   Euro to Hungarian Forint 308.81 Hungarian Forint to Euro 0.003   Euro to Icelandic Krona 111.64 Icelandic Krona to Euro 0.009   Euro to India Rupee 72.464 India Rupee to Euro 0.014   Euro to Israeli Sheqel 4.027 Israeli Sheqel to Euro 0.248   Euro to Jamaican Dollar 145.02 Jamaican Dollar to Euro 0.007   Euro to Japanese Yen 125.013 Japanese Yen to Euro 0.008   Euro to Kenya Shilling 115.384 Kenya Shilling to Euro 0.009   Euro Korean Won 1256.4 Korean Won to Euro 0.001   Euro to Kuwaiti Dinar 0.34 Kuwaiti Dinar to Euro 2.938   Euro to Latvian Lats 0.701 Latvian Lats to Euro 1.426   Euro to Lithuania Litas 3.455 Lithuanua Litas to Euro 0.289   Euro to Malaysian Ringgit 4.805 Malaysian Ringgit to Euro 0.208   Euro to Mexican Peso 21.053 Mexican Peso to Euro 0.048   Euro to New Zealand Dollar 1.595 New Zealand Dollar to Euro 0.627   Euro to Norwegian Dollar 9.381 Norwegian Dollar to Euro 0.107   Euro to Omani Rial 0.432 Omani Rial to Euro 2.317   Euro to Philippines Peso 56.18 Philippines Peso to Euro 0.018   Euro to Polish Zloty 4.209 Polish Zloty to Euro 0.238   Euro to Qatar Riyal 4.082 Qatar Riyal to Euro 0.245   Euro to Romanian Leu 4.562 Romanian Leu to Euro 0.219   Euro to Russian Ruble 63.291 Russian Ruble to Euro 0.016   Euro to Saudi Riyal 4.239 Saudi Riyal to Euro 0.236   Euro to Singapore Dollar 1.554 Singapore Dollar to Euro 0.644   Euro to South African Rand 14.684 South African Rand to Euro 0.068 […]

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]]> https://currencytoday.co.uk/travel-blog/todays-best-euro-rate/feed/ 0 Will holidays Abroad Cost Brits More in 2017? https://currencytoday.co.uk/travel-blog/will-holidays-abroad-cost-brits-more-in-2017/ https://currencytoday.co.uk/travel-blog/will-holidays-abroad-cost-brits-more-in-2017/#comments Sun, 21 May 2017 10:23:51 +0000 admin https://currencytoday.co.uk/travel-blog/?p=3318 After the shock vote of Brexit, the British pound plummeted and caused anyone travelling on holiday last summer to find that it cost them far more than they expected. It was further compounded by certain countries refusing to accept British currency, due to the vulnerability of the exchange rate. Is this going to continue? It is not just about the money, there are several factors that are making this year a bumper year for the Brits to holiday at home. The pound rallied once the dust had settled, only to be shot down in flames when Teresa May announced the implementation of Article 50 – our official exit from the European Community. So what lies in store for British holidaymakers in the coming year and onwards? It is not just about the value of the pound against other currencies – there are far more implications that most of us will not have thought about, which will harm our pockets. Reaching the skies Air travel will undoubtedly increase in price for several reasons. Cheap no-frills flights such as those with Ryanair or Easyjet may well disappear, or no longer be the affordable deals that they currently are. Having made the decision to leave Europe, the UK will have to renegotiate the service agreements with overseas partners in the EU. Nipping off for a long weekend on flights with basic prices of £19 each way may soon be a thing of the past. Fuel charges may also increase, making our annual holidays cost a good deal more without the advantageous bi-lateral agreements. A further scenario, which whilst not expensive to our pockets, but costly to our time, could be extended wait and queues at ‘non-EU citizens’ passport control. Passport Regulations So we switched from the hard-cover blue UK passports, to the flimsier European Union ones with a dark red, more flexible cover. These of course have the EU logo and EU policy attached to issuance – how long will we be able to use them for once our exit is in place? Think of a family of four, who may all need to have passports  reissued in the not too distant future – a pretty costly exercise. No regulations have been put in place yet, but if your passport doesn’t have long to run, there will undoubtedly be a sliding scale for renewal – back to standard British passports. Duty Free Now this could be one of the advantages – currently there are very little price advantages for purchasing duty free at airports in Europe. Tax-free purchases may give us back a little of what we will be paying out for. Changes in other rules and regulations The EU currently has a firm directive on flight delays and cancellations.Compensation is compulsory under these directives, but this is almost certainto change and could result in having long or delayed court cases withoverseas airlines – and who knows if you will win. All EU citizens are covered by the EHIC (European Health Insurance Card)which […]

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]]> https://currencytoday.co.uk/travel-blog/will-holidays-abroad-cost-brits-more-in-2017/feed/ 0 The Dangers of Using an ATM Abroad https://currencytoday.co.uk/travel-blog/the-dangers-of-using-an-atm-abroad/ https://currencytoday.co.uk/travel-blog/the-dangers-of-using-an-atm-abroad/#comments Sat, 13 May 2017 15:49:40 +0000 admin https://currencytoday.co.uk/travel-blog/?p=3311 We are constantly reminded by our major finance institutions to be careful whenusing ATM’s in the UK. Whilst security precautions are stringent here, this is notalways the case when you travel to far flung destinations. Generally speaking,Europe is equally as vigilant with as many anti-theft devices installed and CCTV (thatis a little like shutting the door after the horse has bolted – once your money is taken,it’s taken), but problems still occur. Thieves become more ingenious by the day, sotake heed of just a few ideas to keep your money safe. Before you go. Try to remember to advise your bank that you are travelling and if possible, tell themwhich country or destination you are going to. They can flag up any suspicioustransactions without penalising you. Treat your card as you would do cash If you take cash abroad (this is becoming less likely with travellers who have‘cottoned on’ to using prepaid travel cards. You generally are more careful of losing currency and will constantly be doing the ritual of checking pockets, inside pockets, bags or wallets with regularity. Treat your cards the same and never have your pin written down and stored with it. Only use ATM’s from major banks .With the advance of clever devices created by potential thieves, card readers arecarefully installed at ‘non-bank’ machines such as those in hotels and stores where itis easier not to be seen and where the facility can be used discreetly, or in this case,tampered with. Whilst ATM’s at major banks can still suffer this vulnerability,instances are far less frequent. Equally so, don’t just assume that every town orvillage will have a more secure ATM – when you find one, take enough cash out untilyou know you are going to return there.Many ATM’s may have the instructions in the local language, so be aware whatbuttons you are pressing – worth checking out before you use one. Be safe – only use ATMs during daylight hours Without being alarmist, robberies are very much a fact of life. At least by using anATM during the day from a reputable outlet, you will avoid most instances ofmugging and there will be other genuine people around to help you should you beapproached or threatened.The most vulnerable destinations reported recently are Mexico, where women havebeen kidnapped and held hostage until they handed over their cards and revealed,under threat of rape, their relevant pin numbers. Columbia is also a danger zone withthe ‘motorbike gangs’, who wait by the roadside until you have taken out your cashand then pounce. In other South American destinations, potential thieves will usesomething such as photographic film to jam the ATMs, and whilst the unsuspectingtraveller goes into the building to complain, they return to steal the card, quickly andstealthily. It has also been reported that South Africa and China are experiencingincreases in incidents with ATM’s. Check your bank account or credit card account If you can, it is worthwhile checking your accounts for cash withdrawals – however,always use a secure internet connection to […]

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]]> https://currencytoday.co.uk/travel-blog/the-dangers-of-using-an-atm-abroad/feed/ 0 Staying Safe Abroad https://currencytoday.co.uk/travel-blog/staying-safe-abroad/ https://currencytoday.co.uk/travel-blog/staying-safe-abroad/#comments Mon, 08 May 2017 09:04:36 +0000 admin https://currencytoday.co.uk/travel-blog/?p=3295 Overseas travel can be a fantastic, mind-expanding experience, but it can also be dangerous. An element of complacency creeps into all of our everyday lives when at home as we tend to know our surroundings intimately – we're aware of which roads to avoid alone late at night, how to safely negotiate the streets via private or public transport, and where to go whenever any kind of unexpected situation may arise. It's rare that we'll able to say the same whilst on holiday, however, so what should we be doing to ensure that no ill fortune befalls us while we travel? Take Out Insurance We'd hope this is taken as read, but travel insurance is hugely important in keeping your safe abroad. Between the potential for lost or damaged baggage in transit, the possibility of a health concern, or even the risks of theft of your belongings while abroad, travelling without an active insurance policy is a needless risk. Carry Limited Cash Would you walk through a seedier quarter of your own city carrying a wallet bulging with £50 notes? Of course you wouldn’t. Equally, there is no reason to do so while abroad – ultimately, waving fistfuls of cash around could be like a red rag to a bull for any unsavoury element. Take a limited amount of local currency to cope with taxis and your first meal or drinks to get you through arrival day.This does not even take into consideration how easy it can be to misplace things on holiday when stopping to take a snapshot every few paces. The rise in popularity of pre-loaded travel cards  ensure that it's no longer necessary to carry all of your currency on your person, and what's more, you'll theoretically be insured for your losses should the worst happen. Take a Credit Card In addition to the aforementioned travel cards, just about any country in the world will accept the use of major credit cards. This isn't something that you should use every day, as the handling charges could become astronomical and you run the risk of your account being blocked by a fraud investigation team who deem the sudden burst of spending in foreign climes to be suspicious, but it always pays to have a backup plan to increase your spending power if necessary. Treat credit cards more as an emergency bail-out rather than your sole use for holiday spending. Also, empty your wallet of any unnecessary cards, and rely on one only, to avoid losing everything.Only carry the card around with you if you know you are going to use it – eliminate the possible theft. The downside of plastic being accepted everywhere is that a pickpocket will have just as much fun spending your money in Barcelona as they would in Birmingham. With the sophisticated methods of thieves these days, your card details could be passed on in a matter of moments. Know Your Surroundings Before you set off on your journey, discover the whereabouts of various […]

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]]> https://currencytoday.co.uk/travel-blog/staying-safe-abroad/feed/ 0 Are Brits Heading for a 2017 Staycation due to the Weak Pound? https://currencytoday.co.uk/travel-blog/are-brits-heading-for-a-2017-staycation-due-to-the-weak-pound/ https://currencytoday.co.uk/travel-blog/are-brits-heading-for-a-2017-staycation-due-to-the-weak-pound/#comments Wed, 19 Apr 2017 11:07:02 +0000 admin https://currencytoday.co.uk/travel-blog/?p=3273   Article 50 has been triggered, and unless the UK undergoes a drastic change of leadership following the June 8th General Election, Brexit will become a reality. Many Britons are already feeling the effects of the UK’s departure from the EU thanks to the falling value of the pound against such global currencies as the Euro and the US dollar, but what impact is that having on our day-to-day spending habits? The value of the British pound has dropped roughly 15% lower than that of the US dollar and 12% against the Euro between the announcement of the EU referendum and confirmation that Article 50 would be triggered. The tourism industries have felt the biggest impact of this, as more and more Brits are deciding to embrace the principle of the staycation; holidaying within the British isles, as opposed to packing their suitcases and jetting away to sunnier climes for a fortnight. International travellers from both sides of the Atlantic have also flooded the UK seeking bargains as their own currencies perform admirably against the pound, which is a welcome relief for our domestic economy; as the Tourist Alliance explain, visitors account for over 7% of the UK’s incoming funds. Let’s take the recent Easter break as an example of changing habits for British holidaymakers. Where many families may have previously embraced the opportunity to head over the Channel Tunnel into mainland Europe for the long weekend, it was reported by the British Tourism Board that an excess of six million Brits instead opted to take an overnight stay within these shores, bolstering the economy closer to home. This trend began with the 2016 August Bank Holiday, the first nationally syndicated break since the results of the EU referendum were announced, and seems set to continue. This is hardly surprising when we consider the realities of currency exchange in the first quarter of 2017. At the time of writing, one British pound equals approximately 1.19 Euros – during Q1 of 2015, we could get closer to 1.35 Euros for our pound. With the cost of imported goods and services also rising following Brexit, we’re being increasingly cautious as to where we spend our comparatively limited disposable funds. Fortunately, there are a plethora of options for holidaymakers within the UK, negating the need to travel overseas. Take the popular chain Center Parks as an example; the company have published their annual report for the 2015/16, and as you’ll see, they have enjoyed a steady increase of visitors over the past year – but the plans for a new site in Ireland on the County Longford site of Longford Forest could now cost up to €35million more than originally forecast thanks to the sharp exchange in fortunes of the pound and euro currencies. Owners of traditional family holiday destinations such as caravan parks have also experienced a boom since Brexit was announced, with investor groups prepared to gamble on more and more UK holidaymakers shunning overseas climes in order to stay within […]

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]]> https://currencytoday.co.uk/travel-blog/are-brits-heading-for-a-2017-staycation-due-to-the-weak-pound/feed/ 0 Sentosa Island: Singapore’s Favourite Playground https://currencytoday.co.uk/travel-blog/sentosa-island-singapores-favourite-playground/ https://currencytoday.co.uk/travel-blog/sentosa-island-singapores-favourite-playground/#comments Tue, 04 Apr 2017 15:00:27 +0000 admin https://currencytoday.co.uk/travel-blog/?p=9 In Florida it’s the Magic Kingdom, Californian’s head to Universal Studios, and the French get their thrills at Disneyland Paris. From Alton Towers in the UK to the towering lights of the Las Vegas strip, our need for fun, thrills and spills is tangible and not exactly limited by choice. Take Singaporeans for example. Their tiny island city is a built-up maze of high rise office towers, glitzy malls and crowded streets. There’s barely enough room to bow politely on famous Orchard Road, let alone whizz through the air on a rollercoaster or two. So when it comes to taking time off and letting their hair down, the Singaporeans head south, to the even tinier island of Sentosa, where partying is the only option. Sentosa is so small that if you blink you might miss it. Covering less than 1.9 square miles it sits just off Singapore’s southern coastline, separated only by the busy shipping channel of the Singapore Strait. But despite its size it is the destination of choice for theme parks, glamorous nightclubs, animal attractions and picturesque beaches in this part of Asia. It’s the Orlando of the Far East. Even getting to Sentosa Island is an attraction of its own, because aside from the usual ferries to bring visitors in from the mainland, there’s a more unusual choice of gondola ride or moving travelator to help you bridge the gap. The island’s biggest attraction is undoubtedly its own Universal Studios with eighteen of the rides completely unique to this park. The island’s Marine Life Park runs a very close second. Boasting the world’s largest aquarium featuring over 800 different species of marine animals, it’s an underwater adventure that attracts visitors from around the globe. Sharks, turtles and a variety of rays that most visitors will never have seen before can be watched from behind mammoth glass walls that give an impressive view of the underwater world. By day the island is vibrant and lively with busy shopping malls, modern hotel resorts and street vendors hogging pedestrian precincts. Shopping on Sentosa Island is every bit as exclusive as it is in Singapore itself. Famous for inexpensive but big brand electronics, tourists also flock to Sentosa to pick up designer clothing and expensive jewellery. Imbiah Lookout is a mall with a difference. Sitting in the heart of Sentosa, where the gondola from Singapore drops off excited riders, it’s filled with unusual boutiques and interesting trinkets. For a few Singapore dollars you can become the proud owner of your own wall-mounted butterfly collection of a jar of Chng Kee’s authentic home-style spice mix. By night, the island lights up with laser displays and vibrant nightclubs pumping music out of open doorways until the early hours of the morning. The entire island is styled like one big theme park, with monorails and free buses transporting visitors from one end to the next, and it’s not a bad idea to hop on board a circular route when you first arrive to get […]

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]]> https://currencytoday.co.uk/travel-blog/sentosa-island-singapores-favourite-playground/feed/ 0 Global Economic News Update https://currencytoday.co.uk/travel-blog/global-economic-news-update/ https://currencytoday.co.uk/travel-blog/global-economic-news-update/#comments Thu, 02 Feb 2017 10:29:37 +0000 admin https://currencytoday.co.uk/travel-blog/?p=3258 GB POUNDThe pound started the week on the front foot, trading at 1.1585 against the euro, and 1.2448 against the US dollar. On Tuesday the supreme court ruled 8 to 3 that the government cannot trigger article 50 without an act of parliament. MP’s are now pushing for the government to publish it’s “Brexit” plan in a formal policy document, meanwhile the Scottish government will begin setting out its official response to the supreme court ruling. The UK economy expanded by 0.6% in the fourth quarter of last year, the same rate as the 2 previous quarters, it’s thought that consumer spending is the key driver behind this growth. EUR.A relatively quiet week for the euro as Donald Trump and Theresa May are keeping the spotlight firmly on the US dollar and pound. Professor Ted Malloch, the man tipped to be Donald Trump’s ambassador to the EU thinks the euro could collapse within 18 months, and said he would short it. He also said that Britain could agree a mutually beneficial free trade deal with the US in as little as 90 days. USThe US dollar started the week under pressure as traders are nervous following Donald Trump’s inauguration speech on Friday. Trump’s vow to put America First is causing worries about protectionism and trade wars. On Monday Donald Trump signed an executive order to scrap the Trans-Pacific Partnership. The 12-nation trade deal was a huge part of Obama’s Asia policy and yet to be ratified by congress. Trump described the trade deal as “a potential disaster for our country". In its place, he said he would "negotiate fair bilateral trade deals that bring jobs and industry back”. Trump is also expected to sign an executive order to renegotiate the North America Free Trade Agreement (NAFTA) the trade agreement was enacted in 1994 between the US, Canada and Mexico and was designed to eliminate trade tariffs between the three nations. The dollar remained under pressure as Donald Trump continued to make headlines. Firstly, stating that he intended to begin construction of the US-Mexican border wall in the next few months. Trump also said in a TV interview that he believed torture works when interrogating terror suspects. ElsewhereAmerica withdrawing from the Trans-Pacific Partnership will have been a big blow for Australian and New Zealand producers, however, it could be a huge opportunity for China as it looks to cement its place as a key player in the Global economy. Over the past 3 years China has pursuing a geopolitical plan called “One Belt, One Road “The plan seeks to connect countries in different continents to trade and is centred around China. China hopes to build more sea ports which would create a 6000 kilometre sea route connecting China to South East Asia, North Africa and Oceania.

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]]> https://currencytoday.co.uk/travel-blog/global-economic-news-update/feed/ 0 Theresa May’s 12-point Key Note Brexit Speech https://currencytoday.co.uk/travel-blog/theresa-mays-12-point-key-note-brexit-speech/ https://currencytoday.co.uk/travel-blog/theresa-mays-12-point-key-note-brexit-speech/#comments Fri, 27 Jan 2017 12:27:00 +0000 admin https://currencytoday.co.uk/travel-blog/?p=3250 GB POUNDAnother bad start to week for the pound, it started the week trading at 1.1345 against the Euro, and 1.2033 against the US Dollar as fears around “Brexit” are making investors nervous. Theresa May made a key speech at Lancaster house on Tuesday to outline Britain’s negotiation strategy for leaving the EU, many investors fear leaving the single market, the so called “hard Brexit” Inflation in the UK has increased to 1.6%. Rising air fares and higher food prices are the key driver behind the increase, inflation is now at its highest level since 2014. Theresa May delivered her 12-point key note speech on Tuesday May’s 12 objectives were as follows: Provide Certainty Whenever Possible Have Control Over Laws Strengthen the United Kingdom Keep a Common Travel Area Have Control Over Immigration Ensure the Right to Remain for UK Nationals Living Abroad and EU Nationals Living in the UK Protect Workers Rights Construct a Solid Trade Deal with the EU Create Trade Deals with Other Countries Continue to be a Leader in Science and Innovation Continue Cooperation on Crime and Terrorism and Foreign Affairs for Security And Ensure a Phased Implementation Process EUROThe ZEW survey for both Germany and the eurozone failed to hit its forecast Inflation in the eurozone came out as expected, month-on-month the figure was 0.5%, year-on-year the figure was 1.1%. The ECB voted to keep the minimum bid rate at 0.00%. US DOLLARAhead of his inauguration on Friday Donald Trump gave his first UK interview with the Times. Mr Trump said that he thought the UK was “so smart in getting out” he promised a quick trade deal with the UK, and he also criticised Angela Merkel’s immigration policy and Nato. On Friday Fed chair Janet Yellen said that she expects to raise rates a few times each year till 2019, she also said “the economy is near maximum employment and inflation is moving toward our goal”. ElsewhereChina’s economy grew steadily in 2016 but missed its top end target of 7% according to China’s president Xi Jinping. Speaking in Bern he said that China’s economy grew around 6.7%, but it would still be one of the best performing global economies.

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]]> https://currencytoday.co.uk/travel-blog/theresa-mays-12-point-key-note-brexit-speech/feed/ 0 Latest Economy News https://currencytoday.co.uk/travel-blog/latest-economy-news/ https://currencytoday.co.uk/travel-blog/latest-economy-news/#comments Sun, 22 Jan 2017 17:17:03 +0000 admin https://currencytoday.co.uk/travel-blog/?p=3247 GB POUNDThe pound started the week on the back foot against all of the majors, following Theresa May’s first televised interview of 2017. Mrs May said the UK would have much tighter controls on immigration and secure the best possible trade deal, she said “people who thought the country can keep bits of EU membership were missing the point that it would be leaving". The PM’s comments fuelled fears of a “Hard Brexit” which caused the pound to drop to 1.2138 against the US dollar, and 1.1525 against the euro. Sterling has dropped 20% against the US dollar since Britain voted to leave the EU and it is expected that it will drop a further 5% against the US dollar when article 50 is triggered in March. The head of the London Stock Exchange warned on Tuesday that “Brexit” could pose a serious threat to the global financial system and could mean 1000’s of jobs would be in danger. London is a major clearing centre for contracts and if the UK is denied access to the single market, it would mean this function would need to be transferred to some of the other member states, most probably Germany. EUROThe unemployment rate in the Eurozone remained unchanged in December at 9.8%, the same as Novembers seven-year low. Industrial production increased in the eurozone month-on-month in November, forecast at 0.6% the figure came in at 2.2%. More good news for the eurozone on Wednesday, as Italy’s economic minister Pier Carlo Padoan confirmed that the Italian bank Monte dei Paschi will not need help from the European Stability Mechanism. The bank will receive €66bn in state aid. On Thursday the euro hit a one month high against the US dollar following a raft of positive economic data. Industrial production in the eurozone beat expectation posting a month-on-month figure of 1.5%, the year on year figure posted at 3.2%. Germany reported its fastest pace of economic growth for 5 years as estimated figures from the Federal Statistical Office showed GDP was 1.9% higher in 2016 than in 2015. US DOLLARPresident elect Donald Trump looks set to test the anti-nepotism law in the US, as he looks set to appoint his son-in-law Jared Kushner as his senior adviser. The law was passed in 1967 after John F Kennedy allowed his brother to become the attorney general. There are plenty of loopholes so it’s expected Trump will get his wish. Trump also gave his first speech following the election, he spoke about the alleged Russian hacking scandal, and conflicts of interest surrounding the Trump empire. ElsewhereOfficial figures showed that inflation in China has increased, producer price inflation (PPI) posted at 5.5% the strongest number in five years. Chinese exports suffered their biggest drop since 2009 official figures have shown. Exports fell by 7.5% in 2016, and imports fell by 5.5%. The much weaker than expected performance will ring alarm bells that global demand is slowing.   

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]]> https://currencytoday.co.uk/travel-blog/latest-economy-news/feed/ 0 Global Economy News https://currencytoday.co.uk/travel-blog/global-economy-news/ https://currencytoday.co.uk/travel-blog/global-economy-news/#comments Mon, 09 Jan 2017 15:41:43 +0000 admin https://currencytoday.co.uk/travel-blog/?p=3243 GB POUNDThe pound started the week trading at 1.1729 against the Euro (GBP/EUR) and 1.2339 against the US Dollar (GBP/USD). Official figures released on Tuesday showed the UK’s manufacturing purchasing managers’ index (PMI) rose to a two-year high, which allowed the pound to rally against the euro hitting its highest level in two weeks at 1.1810. Meanwhile, Britain and Ireland have set up a new trade network to offset the impact of ‘Brexit’. The British Irish Chamber of Commerce (BICC) has launched the British Irish Gateway for Trade (BIG) service, which is designed to connect British and Irish firms. Britain is Ireland’s largest trading partner and business between the two countries generate around €60bn and supports 400,000 jobs. BICC chairman John McGrane said ‘At a time when businesses are preparing for Brexit, they appreciate a resource like BIG which helps them to grow their business by being introduced to more customers and suppliers across the UK and Ireland.’ EUROAfter losing ground iat the start of the week, the euro managed to gain momentum due to the German consumer price index (CPI) which more than doubled in December. Inflation in Germany rose from 0.8% to 1.7%, the highest levels for three years and a massive step towards the European Central Bank’s (ECB’s) overall inflation target of 2%. Germany is the engine room of the EU and brings a large portion of its gross domestic product (GDP) growth to the table; however, there is a lot of political uncertainty in the rest of the Eurozone which could hold back any major gains for the single currency. Eurozone inflation is also moving towards the ECB’s target rate of 2.0%. Official figures released on Tuesday showed that CPI increased from 0.6% in November, to 1.1% in December. An increase in energy prices is thought to be the key driver behind the jump in inflation as they’ve been boosted by the Organisation of Petroleum Exporting Countries (OPEC’s) decision to cut production which lifted energy values by 2.5% year-on-year in December. US DOLLARThe US dollar started the New Year in the same fashion it ended 2016—making gains against sterling and the euro. The upward trend continued as the US manufacturing PMI increased to a 21-month high in December at 54.3. Construction spending also posted positively and ISM manufacturing data came in above expectations at 54.7. ElsewhereIn Australia the AIG services index for December came in massively above the forecast at 57.7, from the previous month’s 51.1. Any figure above 50.0 denotes growth and the higher the number, the faster the expansion. This is the highest result for the services sector since 2007 and pushed the Australian dollar up against all of its peers.

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