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£/€
Range of the week: 1.1912 to 1.1997
Variance of the week on £10k=€85


Major news or data for the week so far:

It has been an extremely quiet week for GBP/EUR as clearly reflected by the variance of the week being so minimal. The only news of note for the UK was the Organisation for Economic Co-operation and Development (OECD) forecasting that the British economy will have slipped back into recession in the first three months of 2012.

It is important to be aware that other analysts have predicted growth but all will be answered when the actual GDP figures for the first quarter of 2012 are released on the 25th April.

The last GDP figures showed a -0.2% contraction so if another disappointing set of figures come out on the 25th April-we will be definitely back in recession as a recession is officially defined as two consecutive quarterly contractions.

In the Eurozone-there are rumours that the rescue fund ceiling may be raised to 940 billion Euros but this is just conjecture at the moment


£/$
Range of the week: 1.5801 to 1.6000
Variance of the week on £10k=$199


Major news or data for the week so far:

Again-it has been relatively quiet for cable as well. Earlier in the week, there were concerns that further stimulus would be instigated by the Federal reserve & this contributed to the pound hitting 4 month high against the dollar when we got to 1.60 on Tuesday 27th


£/AUS
Range of the week: 1.5097 to 1.5413
Variance of the week on £10k=316 AUD


Very quiet here as well. The Australian dollar has been steadily weakening (albeit very, very slowly) on the back of a slowing Australian economy & heavy losses in the Asian stock markets


£/NZD
Range of the week: 1.9349 to 1.9576
Variance of the week: on £10k= 227 NZD


No major news or data for the week so far


£/ZAR
Range of the week: 12.08 to 12.34
Variance of the week: on £10k= 2600 ZAR


No major news or data for the week so far


£/CAD
Range of the week: 1.5794 to 1.5920
Variance of the week: on £10k= 216 CAD


No major news or data for the week so far
 
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