The pound lost momentum against all of the major currencies throughout Friday’s afternoon trading session. With no economic data releases released or any key events making headline news, I expect the pound was sold off.
I put the the sell off down to speculators not having confidence in the he pound and therefore not wanting to take risks and leave their assets in the pound throughout the weekend. If my theory is correct, I would expect these trades to be reversed Monday morning and consequently the pound could have a good start to the week.
It’s a quiet week for economic data for the UK. The only data releases to look out for are set to be released Wednesday morning at 9.30am. They are Mortgage approvals, Consumer Credit and Markit Manufacturing numbers. For more information on how these data releases could impact your transfer email me directly on firstname.lastname@example.org.
This week the House of Lords should reach a decision to whether Theresa May has Parliamentary approval to trigger Article50 in March and therefore start the process of leaving the European Union. Guy O’Donnell the former Whitehall cabinet Secretary has scrutinised May’s Brexit plan as he believes EU nationals should continue to have rights within the UK. Furthermore Senior Tory Lord Heseltine wants MPs to get a vote on the final deal reached with the EU.
Personally I believe discussions will be intense, however eventually they will confirm the Bill as unchanged and therefore leaving the EU is on the horizon. With all of the articles I have written within the last 3 months, my opinion has not changed and therefore I expect the pound to lose value and consequently have a tough March and April.
This does not mean if you are purchasing a foreign currency there is no hope as the currency you are buying could also devalue. I would recommend emailing me with the currency pair you are trading and I will provide you a forecast for that pair. For example, for euro buyers, Marine Le Pen is going momentum in France and therefore the euro has devalued this week. Depending on your timescales you may wish to hold on to the French elections as this could provide a window of opportunity.
The currency company I work for enables me to achieve clients a higher exchange rates than they would receive with their high street bank. If you are buying a property abroad for the first time and want am experienced trader to guide you through the process and save you money when you purchase feel free to email me email@example.com.
The more information you provide me, the more information I can provide you. Below is a list of what I require: your name, currency pair, brief description of requirement, amount, budget, timescales, telephone number and convenient time to call.
Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.