Mark Bolsom, Travelex

Mark Bolsom, Travelex

Market commentary: Travelex

Mark Bolsom is Head of the UK Trading Desk at Travelex Global Business Payments.

Travelex Global Business Payments is a global foreign exchange specialist providing payments and receipt of domestic and international funds for businesses of all sizes. For more than 30 years, Travelex Global Business Payments has provided clients with sophisticated market knowledge, leading edge technologies and practical and innovative solutions tailored to individual requirements. Every year, Travelex Global Business Payments processes payments around the world over 35,000 businesses to 1 million beneficiaries.

Excitement around Greek deal evaporates

22 February 2012
Initial excitement around Greece’s latest rescue loan quickly evaporated on Tuesday as investors fret Athens will find it almost impossible to execute certain measures.

Greece will be granted its second bailout package

21 February 2012
Investors finally received confirmation last night Greece will be granted its second bailout package worth over €130b after Athens promised to implement tougher spending cuts.

Sterling heading back to November highs

20 February 2012
Sterling is heading back towards November highs against the US dollar after Friday’s forecast-beating UK retail sales data offered hope the British economy would avoid recession.

Currency markets came alive on Thursday

17 February 2012
After a fairly jaded start, currency markets came alive on Thursday once US markets opened and data on weekly US jobless claims, sent stock markets soaring and safe haven currencies tumbling.

Sterling rose sharply against the euro yesterday

16 February 2012
Sterling rose sharply against the euro on Wednesday amid signs European leaders are re-considering plans to save the Greek economy.

Europe’s debt crisis dominates headlines

15 February 2012
Europe’s debt crisis continues to dominate headlines in currency markets after China announced that it is willing to offer more support in order to maintain stability across the eurozone.

Euro’s outlook back under a dark cloud

14 February 2012
The euro’s outlook is back under a dark cloud after Moody’s Investor Service announced yesterday it had downgraded the credit rating of six European countries.

Currency markets off to a positive start

13 February 2012
Currency markets are off to a positive start this morning after politicians in Greece voted in favour of an even more unforgiving austerity package.

Investors put a check on carry trade activity last night

10 February 2012
Investors put a check on carry trade activity last night after eurozone finance ministers rejected an austerity package put forward by Greece meaning Athens has failed to meet conditions attached to its second emergency bailout.

Greece moves closer to its next instalment of bailout cash

9 February 2012
Greece moved one step closer to its next instalment of bailout cash which is currently being held back by its group of creditors demanding more stringent spending cuts.

The euro soared alongside risky assets yesterday

8 February 2012
The euro soared alongside risky assets on Tuesday on optimism Greece was preparing to vote and agree on austerity measures which would see Athens receive its next instalment of emergency aid.

The Australian dollar rallied overnight

7 February 2012
The Australian dollar rallied overnight and helped prop up its commodity-linked counterparts after the Reserve Bank of Australia surprised markets by keeping interest rates unchanged at 4.25% following its monetary policy meeting.

Debt talks in Greece help restrain bullish mood in financial markets

6 February 2012
Stuttering debt talks in Greece over the weekend have helped restrain a somewhat bullish mood in financial markets after US Non-farm payrolls data completely outstripped expectations on Friday.

Pound in danger of profit taking

3 February 2012
The pound is in danger of profit taking given its sharp spike to almost 3-month highs against the US dollar ahead of this morning’s local data which is forecast to show growth in Britain’s key services sector slowing.

Traders favoured more risky stocks yesterday

2 February 2012
Declining borrowing costs for some of Europe’s debt-strapped nations and talk of more European Central Bank intervention helped keep traders favouring more risky stocks and currencies yesterday.