Euronet Worldwide to Purchase HiFX

mar bonnin palmer

Good Times for EUR Sellers

On a day when “risk-off” sentiment was largely prevalent in markets following the release of weak economic data from the world’s second largest economy, the Euro gained against sterling yesterday as expectations of the ECB resorting to further easing receded. About time! However, Christian Noyer, the ECB Governing Council member, while stating that the central bank’s accommodative monetary policy seems to be working, reiterated that the ECB will act if the currency bloc’s economic prospects deteriorated in future. Meanwhile, Euro zone sentiment indices continued to paint a positive picture of the region’s economy.

The single currency is trading marginally lower, albeit in a tight range, against the US Dollar in today’s trading session. The German trade data released earlier today showed that the nation’s seasonally adjusted trade surplus narrowed for January, driven by a sharp increase in imports. With little in terms of macro releases to influence risk appetite today, Euro investors will keep a tab on renewed concerns in Eastern Europe for further direction.

On other news in the UK

Euronet Worldwide to Purchase HiFX

Euronet Worldwide announced that it has entered into an agreement to acquire HiFX a UK based currency company. £145 million or approximately $242 million. Twenty-five percent of the purchase price will be paid in shares of Euronet stock and the balance in cash.

Key Economic Events

Interbank Exchange Rates (09:00)
GBP 1.2020 1.6701 12.962 1.8465
EUR 0.8319 1.3893 10.782 1.5362
USD 0.5988 0.7199 7.7608 1.1057

Support Levels
GBP/USD Support 1.6682 1.6654 1.6602
GBP/EUR Support 1.2033 1.2018 1.1992
EUR/USD Support 1.3847 1.3818 1.3784

Resistance Levels
GBP/USD Resistance 1.6762 1.6814 1.6842
GBP/EUR Resistance 1.2074 1.2100 1.2115
EUR/USD Resistance 1.3910 1.3944 1.3973

Company Details

Euronet Worldwide to Purchase HiFX

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