Daily Archives: October 27, 2011
Euro has a positive day against most majors – how long will it last?!
Euro strength following overnight release – confidence is back but for how long?!
by Daniel on Oct.27, 2011, under Economic Information, Euro Strength, Media Quotes, euro weakness
The Euro has had a fine day against most major currencies today after some details came out from the well followed European summit.
Essentially confidence has be installed once again but personally I feel this will be short lived as the problems are just so big when you look a little deeper into them.
Italy alone has so much to pay out next year that I have no doubt we could see things all come to a head once again without the next few months, and in my opinion these measures are purely delaying the inevitable……. At a great cost!
This could be a great opportunity for those selling Euros to buy another currency, if you do have a transaction like this to carry out then do feel free to contact me directly djw@currencies.co.uk and I will be more than happy to assist you with your requirement ensuring you get not only a great rate of exchange but also a high level of customer service too. I look forward to speaking with you.
Euro summit boosts the markets but hinders GBP as the AUD & NZD strengthen
As confidence has moved back towards the Euro zone stock markets around the globe have been boosted and some of the biggest gainers have been in the banking sector. Unfortunately it has been a horrid day for clients who have a requirement to sell the pound. As of 16.50 sterling exchange rates are down against:
Euro 1.35%, AUD 2.01%, NZD 1.61%, ZAR 2.52%, CHF 1.71
I yesterday predicted that if there are positive comments to come out of the summit then the pound would more than likely lose to the antipodean currencies. This has firmly been the case. Investors have more than likely moved back into riskier assets and hence producing a rally for the southern hemisphere currencies. It will surely be a very volatile few weeks leading up to Christmas for the pound. We just witnessed the Royal Bank of New Zealand keep their base rate of interest on hold and in Australia there are still strong rumours that we may see a rate cut down under.
With the current volatility that we are witnessing, if you require buying either the Aussie or the Kiwi Dollar limit orders may be the way to proceed going forward. This means that you can place a limit to buy the currency at a trading level that is not available at present in the hope that the pound gains. This morning it worked wonders for our clients that were selling a range of currencies to buy the pound. They had seen sterling strengthen of late so they placed limits in the hope that the pound would weakened. The events of today moved the market in their favor and they achieved up to 4% more on their funds than 3 weeks ago. If you would like more information on this or any other type of contract that we offer please feel free to email at bma@currencies.co.uk or call me on 00441494 787 474 and quote Pound Sterling Forecast to achieve our award winning rates.
European Summit generates less than comprehensive resolutions however minor Euro strength arises from it Strength also for Australian Dollar, New Zealand Dollar and South African Rand
Right folks, a minor update on activity – The Euro has made gains overnight following an announcement at roughly 3am although less than comprehensive it was still faster than expected and led to a little more confidence globally.
Stocks and shares rallied, the perceived ‘riskier’ currencies suddenly became a lot more sought after and currencies such as the Australian Dollar, New Zealand Dollar and South African Rand gained back some ground accordingly, making them more expensive to buy.
There is still plenty more information to come on these matters and as such I expect a continued volatile market in the short term so be aware rates will be moving around a lot more than normal… To be kept up to date on movements should you not have the time to have one eye on rates all day every day then do feel free to contact me with your requirements and I will ensure you are aware of any movements be it in your favour or agianst you, helping you to maximise each and every transfer you carry out. I can be contacted here djw@currencies.co.uk
