Daily Archives: October 26, 2011
European Summit… Latest news
No major news from the summit of all summits so far… the latest being that Merkel has now mentioned she is looking at progress during this one and not an end result – Looks like we may need another summit on the summit!
Leaders are just arriving now for the big one…. personally I would be surprised to see major releases tonight as I feel they do not have and will not have a final answer that will be anywhere near good enough for the markets however this certainly does not guarantee that they will surprise us.
If i had to stick my neck out and make a prediction then I feel they will partially announce information this evening and follow up with the real nitty gritty in the next few days.
This will however lead to a nervous market throughout the week, and this does not only effect the Euro but all currencies worldwide.
Global uncertainty leads to investors becoming wary on risk, this in turn can mean that they seek a safe haven, the Dollar in fact has strengthened by over a cent in the past hour which seems to me that people do expect a muddled announcement later and risk aversion to be high.
No major movements from the AUD and NZD so far, I think the next 48 hours is key no matter what currency requirement you may have so make sure you are alert and ready to act fast should you need to as a lot of money can be mde and lost in situations such as this, you can use tools such as limit orders, stop losses and forward contracts.
If you would like more information on how these work or have a pending currency transaction be it buying or selling the Pound then do feel free to contact me directly djw@currencies.co.uk and I will be more than happy to help.
Best exchange rates for your currency transfers.. Are you happy with your bank or current brokers exchange rates?
When needing to transfer large amounts of funds overseas the value of currency you receive will be determined by the exchange rate you get. Sounds obvious? Well everyday tens of thousands of people (if not significantly more) literally throw money down the drain and use a bank for their currency exchange.
Even though the bank seems the ‘best’ place to go since that is where you keep your money it is in a very high majority of cases the worst. When needing to transfer large sums of money you should speak to a currency broker. We offer commercial rateas of exchange and can beat the banks by up to 4%, sometimes more. Does 4% not sound like much? Well if you were buying £500,000 worth of Euros, a 4% difference is £20,000. Sounds like much yet?
So how do we do it? We buy and sell huge volumes of currency and we source commercial rates of exchange. We can then pass those savings on to the client. It is literally that simple. We don’t do Pet Insurance, we don’t do Mortgage Finance. We do 100% currency brokering pure and simple!
In my years of working on the markets I have never known so much volatility on exchange rates. I personally feel for anyone making large currency transfers at present because the markets are all over the place. Understanding what is driving the markets is the key to understanding what may happen and for each of my clients I, where necessary make sure they understand all the ins and outs of how to transfer funds safely, securely and at commercial rates of exchange.
If you have any currency transfers why not find out for free at 100% no obligation how we work and how we can achieve all of the above for you by filling in the enquiry form on the right hand side of this page.
All of the authors on this site are senior currency brokers with years and years of experience underneath them, working for a FSA regulated company authorised as a payments institute so you can have the peace of mind that you are dealing with the best, we also pride ourselves on customer service so not only do you get a great rate of exchange but fantastic levels of service as well.
Contact me directly djw@currencies.co.uk and I will be more than happy to assist you.
