Forex Weekly Round Up 16 November 2015 – 20 November 2015

Forex Weekly Round Up 16 November 2015 – 20 November 2015

House prices in the UK went down in November, the latest house price data from property website Rightmove showed on Monday. The house price index fell 1.3% month-over-month in November, which was the smallest drop since 2011. In contrast, prices grew 0.6% in October.

The UK’s inflation rate remained -0.1% in October which will further dampen expectations of a rise in interest rates any time soon. The ONS added that the Retail Prices Index, a separate measure that includes housing costs, fell to 0.7% in October from 0.8% in September. This is the lowest RPI rate since November 2009.

Greece has secured a tentative deal with the Eurozone to unlock the latest tranche of financial aid. The two sides have agreed a batch of reforms that will be presented to the Greek Parliament on Thursday. The Eurozone countries insisted on the measures before releasing €2bn (£1.4bn) in loans and up to €10bn in support for the banks.

US data was broadly positive yesterday, lending further support to a Fed rate increase at the 15-16th December meeting. Whilst continuing jobless claims came out slightly worse than October’s (2.175m vs October’s 2.174m), initial jobless claims were better than October’s (271k vs 276k).

Businesses and individuals looking to buy Dollars and sell Euros may benefit from a forward contract to hedge against adverse movements. Please contact us for your free, no obligation FX comparison.

Here are the exchange rates taken at 12pm today. Please note that all conversions are based on interbank rates without any spreads and should be used only as a guide. For live ‘spot’ and ‘forward’ prices please feel free to drop us a line.

GBP/USD 1.5244
GBP/EUR 1.4266
EUR/USD 1.0680
USD/EUR 0.9360

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