Tag Archives: currency
Over the past seven years we have had many clients contact us to see if we can assist them both with the timing of their currency exchange, but also with saving money over their bank or other currency brokerages.
All of the writers here work for one of the largest brokerages in the U.K and between us we have over 70 years experience of helping people send money overseas or bring money back for property purchases, property sales, business transactions or any other reason that involves a currency exchange.
We do not deal with holiday money or cash transactions unfortunately but we do pride ourselves on the very highest level of customer service along with seriously good rates of exchange.
Most of our traders have been doing this longer than our competitors have existed, so by contacting us here at Pound Sterling Forecast you can have the peace of mind that not only will you get a great rate, but your transaction will be handled smoothly and efficiently by a team that know exactly what they are doing.
We love providing our regular readers with up to date and important market information on this site and welcome all new enquiries with a personal response as soon as we possibly can.
Looking at the economic calendar we are fairly thin on the ground for data over the next few days as the month ends but do be wary as you can see fairly large swings for currencies as you near the end of the month as larger corporations net off positions and we start to see month end flows.
If you would like to be kept fully up to date with market movements or you would like to save money on any pending currency exchange you have then feel free to get in touch with me (Daniel Wright) personally on email@example.com and I will be more than happy to give you a call or reply to you email and answer any questions or queries that you may have. I look forward to speaking with you.
Despite a relatively bullish day for the Pound, particularly by its own recent standards, the currency is on track for it’s weakest month since the month of the Brexit vote back in June.
The reason behind today’s bullish Pound is a meeting between the Governor of the Bank of England, Mark Carney has had a meeting with Theresa May (UK Prime Minister) regarding his future, and the general feel around it so far is positive as just prior to their meetup, May announced that the Governor has her full support.
There were rumours in the city last week that Carney would shortly be announcing his planned departure in 2018 but as it stands that doesn’t seem to be the case. I think that if he decides to extend his stay until 2021 and complete a full 8-year term we could see the Pound spike upward once again but certainly not back up to the levels we saw at the beginning of October.
This uncertainty surrounding the key figure of the Bank of England has not come at a good time for the Pound’s value, after we’ve already seen the currency lose almost another 5% through October after Theresa May outlined the end of March as the time to invoke Article 50.
This week is set to be a busy one in terms of economic news releases, with Thursday expected to be the busiest day for Sterling exchange rates as it’s the day of the BoE’s next Interest Rate Decision. Mark Carney will also be speaking that day so feel free to get in touch to discuss any planned currency exchanges in more detail as planning around these events could be key.
If you want to be kept up to date on the markets and you would also like to ensure that you are getting the very top levels of exchange for an imminent currency transfer or even a longer term one then I can help you with this.
Not only do we give clients up to date market information but we all work for one of the largest and longest serving currency brokerages in the U.K, so even if you have dealt with your current broker or bank for a long time I would be surprised if I could not show you a saving over what they are offering you – You can email me (Joseph Wright) directly on firstname.lastname@example.org and I will be more than happy to contact you personally to discuss the various options we have available to you.
Flat start to the week for Sterling exchange rates but what can we expect as the week evolves? (Daniel Wright)
A fairly flat day for the pound against most major currencies so far today, with Sterling trading in a very thin range against Euro, Dollar, Australian Dollar and New Zealand Dollar exchange rates.
We have had very little economic data out of note today however there are a number of other releases that are worth noting as the week moves on.
Tomorrow we have two key speeches from both the Governor of the Bank of England (Mark Carney) at 15:30pm and Head of the European Central Bank (Mario Draghi) an hour later at 16:30pm. Both of these may lead to a volatile afternoon for Sterling and Euro exchange rates.
Many speculators and investors will be watching every word during both of these speeches for any hints to future changes in economic policy and the market will no doubt move around extremely quickly should any hint to new changes arise.
If you have an exchange to carry out and you would like to be kept up to date with the action then feel free to contact me (Daniel Wright) by emailing me personally on email@example.com and I will be happy to get in touch with you.
Late on Tuesday night we have a flurry of inflation data which will be interesting for anyone with the need to buy or sell Australian Dollars, especially with the market rate for GBP/AUD hanging around the pivotal point of 1.60. Expectations are for Australian inflation figures to remain fairly static however any result that differs from this may lead to a sharp movement overnight. There are ways to take advantage of overnight movements in your favour, most notably a limit order where you request that if a certain rate of exchange becomes achievable at any point 24 hours a day then your currency will be bought out automatically for you. This contract type is free to use with us and can be extremely handy.
The Dollar and New Zealand Dollar take centre stage on Wednesday with lots of data out from the States over the course of Wednesday afternoon and then import, export and trade balance data out for New Zealand later in the evening at 22:45pm – Again a limit order may be worth considering overnight if you are close to your target rate and do not wish to miss out should a spike occur.
Thursday will be important for Sterling exchange rates as we have GDP (Gross Domestic Product) or growth figures out at 09:30am and then later in the day Durable Goods and Jobless Claims data out for the States which will impact U.S Dollar exchange rates.
We round the week off with lots of data our from all over Europe which will impact Euro exchange rates and then U.S GDP (Growth) figures to wrap up the week which can have an impact on all major currencies as it has an effect on global attitude to risk.
On top of everything we have the U.S election which will no doubt keep the Dollar on its toes so we have a lot for the market to digest throughout the week.
if you have a currency exchange to carry out either now or in the coming weeks and months then it is well worth getting in touch with me personally. I can help you not only ensure you get a market leading rate of exchange but also that you get an extremely high and award winning level of customer service too. You are welcome to email me (Daniel Wright) directly on firstname.lastname@example.org which will take you merely two minutes to do and may save you thousands of Pounds in the future. I look forward to assisting you.
I recently outlined forecasts for the GBP/EUR pair of 1.0922 – 1.1000 from Credit Suisse, and unfortunately now for those hoping for a Sterling recovery, the same bank has lowered their forecast to 1.0526, and this is based on a 3 month period.
The bank has also offered a price target for the GBP/USD pair of 1.1700, so I guess the bottom line is that they’re currently expecting further Sterling downside.
Despite these prominent predication the Pound has actually held it’s ground over the past couple of days after falling on almost a daily basis for almost 2 weeks after Theresa May publicly confirmed suspicions that the invocation of Article 50 will go ahead in March of next year.
The Pound fell because many had hopes for a ‘Soft Brexit’, but those hopes have now all but faded after May’s decision to begin the UK’s separation of the EU earlier than many had hoped.
The reason for the Pound staging a fightback has been some better than expected inflation figures from the UK which came out earlier this week. The figure came out much better than expected at 1% which puts the UK on track to reach it’s 2% target, but I do think inflation could get out of hand if the Pound continues to fall at such a fast rate.
Those planning a currency conversion which involves exchanging the Pound for another currency may wish to consider making that conversion sooner as opposed to later, because if the forecast from Credit Suisse as well from an increasing number of banks are to become true, the Pound has a further 6% or so to fall which equates to large amounts of money on the larger currency conversions.
If you would like to discuss timings and exchange rates, feel free to contact me on email@example.com in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible. You can also get in touch by telephone on 01494 787 478, just ask reception for Joe.