Tag Archives: currency
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 firstname.lastname@example.org 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 email@example.com 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 firstname.lastname@example.org 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.
Pound Sterling Forecast – A busy week ahead for Sterling exchange rates with lots of data out (Daniel Wright)
Sterling exchange rates are no doubt in for a busy and volatile week this week with plenty of economic data releases due out for the market to get stuck in to.
I have listed the main key releases below and what to look out for. If you click on the links then you will get a more detailed explanation of what each release is and how it may impact the markets.
For further information, a live quote to see if you can save money over your bank or current broker then feel free to email me (Daniel Wright) on email@example.com and I will be more than happy to assist you personally. It still surprises me how many people contact me that felt they were getting a good rate with their broker that they had been using for years only to find out that they could be getting so much more through us, always make sure you check as it can make the difference of hundreds if not thousands of Pounds in your back pocket.
|Tuesday, Oct 18|
|01:30 AUSTRALIA (AUD)
RBA Meeting’s Minutes Report
|09:30 U.K (GBP)|
|09:30 U.K (GBP)|
|Wednesday, Oct 19|
|03:00 CHINA (AUD)|
|03:00 CHINA (AUD)|
|15:00 CANADA (CAD)|
|15:00 CANADA (CAD)|
|15:00 CANADA (CAD)|
|Thursday, Oct 20|
|01:30 AUSTRALIA (AUD)|
|01:30 AUSTRALIA (AUD)|
|12:45 EUROPE (EUR)|
|12:45 EUROPE (EUR)|
|13:30 EUROPE (EUR)|
On top of these releases we also have Unemployment data and Retail Sales data out for the U.K on Wednesday and Thursday morning and both of these may also have quite an impact.
How Sterling ends the week will really rely of two factors… How well U.K data comes out and what happens around the rest of the world.
Key focal point of the week is the European Central Bank and what they decide to do with their QE (Quantitative Easing). This will be released on Thursday afternoon and can lead to an extremely volatile exchange rate for GBP/EUR. The press conference shortly after by Mario Draghi (Head of the ECB) can also throw up some great opportunities for those looking to buy or sell Euros.
I personally assist clients that have the need to exchange large sums of currency either for their business, to buy/sell property or even for wages too.
My book of clients ranges from premier league footballers and large company directors Mr and Mrs Jones buying a retirement home in Spain and I always welcome new enquiries. Every individual is dealt with on a personal level and my main aim is to save you money when you do decide to book out your rate and also to try and help you time your exchange by giving you the market information you may struggle to get elsewhere, in simple terms.
Feel free to get in touch with me (Daniel Wright) directly by emailing me on firstname.lastname@example.org and I will be more than happy to contact you to discuss the various options available to you.
Another Sterling negative headline pushes the Pound lower, will the Pound continue to reach new lows? (Joseph Wright)
The ongoing effects of the UK electorate’s Brexit vote is once again in the headlines this morning, and for very relatable reasons.
Tesco as it stands has fallen out with a major household product supplier called Unilever, who provide everyday goods. The reason behind the deterioration in their business relationship is due to the depreciating Pound pushing up the prices of a numebr of household goods.
As it stands customers are unable to buy a number a household goods online, such as Marmite, Hellmann’s mayonnaise, Pot Noodles, Lynx and PG Tips amongst other major brands.
Personally I think this could be just the beginning of a number of price wars created due to the Brexit votes effects, with petrol likely to gain in value also over the upcoming months.
Another major lender has announced this morning that they expect to see the GBP/EUR pair continue to decline over the coming months down to 1 for 1 and that’s at the mid-market inter-bank level. Many holiday goers are already experiencing these levels as a number of bureau de changes are already offering less than 1 Euro for a Pound as their rates are generally very uncompetitive.
There is little to no economic data out of the UK this week so we can expect to see headlines such as this mornings to continue to drive Sterling exchange rates this week, as has been the case for much of this year.
With our pro-active service we assist our clients with the timings of their trades daily, and we’re here to help clients trying to buy Sterling at the best possible rates of exchange also so feel free to get in touch if you would like to discuss exchange rates, your price targets or the markets in general.
If you are planning on making a currency exchange involving the Pound, it’s worth your time getting in contact with 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 call in and ask for Joe on 01494 787 478.
The Pound remains on a knife edge against most major currencies at present, with sharp swings happening totally out of the blue. Today has not been so bad but as an example yesterday evening Sterling lost around 1% in value within an hour, only to gain the majority of it back by the time we came back to the trading floor this morning.
The rest of this week we have a fairly minimal amount of economic data out for the U.K but overnight there are plenty of releases from China which may impact the AUD and NZD along with a flurry of data from the States, not to forget the on-going U.S election which is really starting to heat up.
Next week we will see the U.K release of inflation, unemployment and retail sales data and those waiting for the Pound to get stronger will be hoping that these are positive and act as the catalyst they have been waiting for to pick the Pound back up off of the floor.
With so many violent and unpredictable swings happening it is more vital than ever that you have not only a currency broker helping you with your exchange, but a proactive and well experienced one as booking your rate of exchange at the right time or taking advantage of a spike in your favour can make the difference of thousands of Pounds.
This is where we can step in, there are many currency brokers out there that will say they offer the best rates but the majority are beatable and do not necessarily give you the best level of service. We like to think we do both and with over 100 years of experience between myself and all other writers on this site you would be mad not to give us a try.
Even a quick email to ask for a quote will take you just two minute to do and may make a healthy difference to the cost of your upcoming transaction. We deal with clients that need to buy or sell the Pound all day every day and help with exchanges from £5000 to mulit million transactions. Feel free to email me (Daniel Wright) on firstname.lastname@example.org with a description of your needs and I will be happy to contact you personally.
Sterling crashes as negative sentiment surrounds the Pound, will it’s value continue to decline? (Joseph Wright)
The 52 week lows for Sterling exchange rates have deepened further during today’s trading session, and in the early hours of today’s trading session the marketplace was unsure as to exactly why.
Most are pointing in the direction of trading algorithms, or automated trading to put it simply, after in the early hours of this morning the Pound was sold off extremely heavily before correcting somewhat, although not back to the levels we saw prior to this almost unprecedented move.
The drop against the dollar was the second largest in history after the drop in the immediate aftermath of the Brexit vote earlier this year back in June, so that’s 2 historic sell off’s in this year alone.
Many reading will be wondering whether the Pound will continue to fall from these levels, and it’s looking like there’s a good chance that it will because the fundamentals coming out of the UK suggest the economy is healthy, even improving economic output since the Brexit vote (which the weaker Pound has assisted in some cases). Despite the healthy economy, weak sentiment is driving the Pound down, and investors are quick to react negatively to bad news out of the UK.
The are a number of key financial institutions forecasting a weaker Pound in the upcoming months and years, with HSBC today adding to a number of major institutions with predictions of GBP/EUR parity at the end of 2017. There’s quite some distance to go yet some for those working to a budget or timescale, it may be an idea to remove the risk from the currency exchange.
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 email@example.com and I will be more than happy to contact you personally to discuss the various options we have available to you.
Sterling has a bad day against all major currencies – Article 50 announcement leads to sell off (Daniel Wright)
The Pound started off the week on the back foot against all majors today following the announcement over the weekend from number 10 that we the U.K would have invoked article 50 by the end of March 2017.
It does appear that Britain may be heading for a ‘hard brexit’ which may be more focused on controlling immigration and law over being involved in the single market.
This news has been taken badly by investors and speculators and this has indeed led to the Pound dropping away and well and truly falling out of fashion.
On top of this we also have an increased probability that we may see further stimulus from the Bank of England which also is seen as a negative for the Pound too.
A lot now really hangs on how economic data comes out in the next week or so as we start to see the release of data from September.
U.K Construction data is released tomorrow morning followed by data from the services sector on Wednesday, both have quite an impact on the overall growth figures for the U.K economy so may set the scene for the coming weeks.
I actually still feel that the result of the referendum has not hit as hard as many had thought it would so I would be surprised to see anything dramatically terrible but it would still be sensible to keep a keen eye on the markets at 09:30am over the next two days.
On top of this we have the RBA interest rate decision overnight tonight and the Deutsche Bank issue which is sure to remain ongoing.
If you have a large currency exchange to carry out either imminently or in the coming weeks then it is essential that you use an experienced currency broker that will help you every step of the way. I have helped thousands of people in your position and even those that thought they were getting an unbeatable rate elsewhere were surprised that they could actually make a saving by speaking with me.
Feel free to get in touch with me (Daniel Wright) by emailing me on firstname.lastname@example.org and I will be more than happy to get in touch with you personally.
What will happen to Sterling exchange rates this week? The Great British Brokerage – Don’t settle for second best….(Daniel Wright)
The Pound has yet again had a torrid start to the week and appears to be finding that it has very few supporters out there at present.
Sterling exchange rates have dropped off against every major currency and with very little economic data out this week until Friday it is hard to see where the catalyst for the fight back will come from.
The markets are kicking the Pound whilst it is down and you can see why… if you were a big investor due to put money into a business, would you proceed with that investment not knowing what the actual plans for the business were over the next few years? More than likely not unless you have a high appetite for risk.
With this in mind big investors and speculators are at present leaving the U.K and indeed the Pound alone, settling for safer options. In the world of supply and demand, the demand for Sterling has dropped off and so therefore the value of the Pound has followed suit.
There are plenty of reasons why other currencies may start to weaken off but none seem to be impacting matters as much as the referendum has hit the Pound. You have lots of problems politically and with the European economy, the U.S election is about to get into full swing and both Australia and New Zealand are suffering a little due to their currency being too strong.
As we move into October anyone looking to buy foreign currency with the Pound will need to hope for economic data to continue to be solid post referendum and this will give the Pound a chance of coming back a little, although I hate to write negative posts about Sterling performance unless this data is good then the Pound may suffer as we approach the Christmas period.
If you have a large currency exchange to carry out involving buying or selling the Pound then you need not worry as I can help you every step of the way. The brokerage I work for is one of the longest standing and one of the few privately owned currency brokerages left in the U.K.
We can cater for clients all over the world and have access to the very top rates of exchange due to our large buying power and we also try to ensure that we keep clients fully up to date with market movements, along with explaining to them in simple terms the various options that they have in front of them.
If you feel that I (Daniel Wright) may be of use to you then you are more than welcome to contact me personally. You can email me on email@example.com and I will be more than happy to get in touch as soon as I can.