By Jonathan Watson

The global recovery is still incredibly weak. There are more and more signs of weakness everyday.

The Irish Republic has today had it’s credit rating downgraded by Standard & Poor’s. S & P have also predicted that net Irish government debt will rise to 120% for 2011. This does not bode well for the economic outlook for the euro. Greece is currently suffering from negative growth and all the signs point to the prospect of the world re entering recession!

The eurozone countries are major consumers of US goods and services and if they are not spending the US suffers. The US as the largest economy is suffering too with high unemployment and weak housing figures in the form of new home sales. Historically the housing market has driven the US out of recession but with such bad news this week can it really be relied on to do this again?

To keep ahead of current market trends that will affect the value of sending money overseas, speak to one of the experienced currency dealers that write on this blog by filling in the contact form. We specialise in overseas electronic bank to bank transfers and can save you money.