Tag Archives: currency

Sterling Euro breaks past 1.40 as predicted (Tom Holian)

If you’ve been reading my previous articles then you’ll not be too surprised to see Sterling gain vs the Euro today as the Greek saga continues.

Last night’s discussions did not end with a deal and with only a week away from their payment to the IMF the clock is ticking faster and faster resulting in Euro weakness.

We are now at the 2nd best exchange rate for buying Euros in 8 years creating some excellent buying opportunities to send money overseas.

The Greek news is dominating the market and until this is resolved we could see some further gains but we could still be days away from a deal being reached.

I think a deal will be in place by the end of the month which is likely to settle global currency markets and bring some certainty to the situation but until then if you have to buy Euros it is worth taking advantage of these current highs.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

 

Could there be a Resolution to Greece’s Debt Problems? (Daniel Johnson)

Crucial to any GBP/EUR trade is the situation in Greece. 

Greece are due to pay €300m to their creditors on Friday. The latest news  is that the IMF and the ECB have put a deal together to present to Athens. Tsipiras representing the Greeks is also set to produce his proposal. The Currency market does move on rumor, and news a deal is probable has seen the Euro strengthen considerably over Sterling already.

I feel the Greeks will make their payment. However trouble looms later this month with a further €600m to be paid. My view is Greece will remain in the Eurozone. It is in both sides interest to come to an arrangement.  As if Greece were to leave it would be catastrophic for their economy and the IMF and ECB want their money back. What also has to be taken into account is if Greece were to leave the Eurozone it will set a precedent.  Would Italy or other nations follow suit? If other members were to leave, Euro confidence would take a severe hit.

Current market conditions for Euro buyers are still very favorable, sitting close to the eight year high of late. I have witnessed many trying to hang on for that extra buck and get caught out.

Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me at dcj@currencies.co.uk or call on 01494 787 478 and ask for Daniel Johnson.

 

To what extent will sterling recover in the coming weeks?

Sterling is down against all currencies on political uncertainty arising from the most uncertain General Election in decades. The Tories and Labour are neck and neck fighting to gain any seats to reduce their reliance on other parties in coalition. Just what can we expect for the pound in the next 24 hours and weeks? It looks like sterling is going to fall further whoever gets into power!

Tory Majority – Sterling Positive. As plans on the economy to keep on the current course should help investor confidence surrounding the pound. Although the Tories have pledged a referendum on Europe which could damage business confidence for the coming months and in the future.

Tory and Lib Coalition – Sterling Positive. The Current partnership has reduced Unemployment and is currently in charge of a growing economy.

Tory, Lib, UKIP – Mildly Sterling Positive. Increaeses the chances of an EU Referendum being held sooner than expected which could be GBP negative.

Labour Majority – Sterling Negative. The increased spending plans are unlikely to boost confidence in sterling and fears over the mismanagement of the economy would be rife.

Labour Lib Coalition – Mildly Sterling Negative. The Liberal Influence may be viewed positively by markets.

Labour SNP Coalition – Strongly Sterling Negative. The SNP are likely to seek another referendum on the Union which they are more likely to win than before. The splitting up of the Union could be very worrying for investors seeking certainty on the outlook of the UK.

In short there are many outcomes that may affect your price! To be kept up to date with all the potential outcomes and learn what happens please contact jmw@currencies.co.uk

GBPEUR could well drop 6 cents! Are you buying or selling?

‘Sterling loses significant ground as election uncertainty heats up’ could be a headline next week as the most uncertain election in years takes place. Sterling lost 5 cents in the weeks leading up to the election in 2010. The same was true of the Scottish Referendum. Can you really afford to take risks with so much at stake? Many people buying a foreign currency with the pound have been locking in on forward contracts lately to guarantee they won’t get a worse rate in the future.

If you are transferring currency in the coming weeks or months please don’t take the current rates of exchange for granted, it could end up very costly. The election is such a rare unique event trying to make firm predictions could be a big mistake. Having said that it seems reasonable to expect the exchange rate will drop as it has done in the past at such times.

If you need to buy or sell it might be a good idea to make some plans as major uncertainty is due. For more information on just what to expect and how to benefit from the uncertainty please contact me Jonathan on jmw@currencies.co.uk

GBPEUR rates unstable around Greece

GBPEUR levels are holding up well and the reason for this surprise so close to the election is the Greek story. The latest is that they have initially, up to Friday to get a budget reform plan accepted by the ECB and IMF before the next lump of funds are released to them. They also have a large amount of repayments to be made next month which is another concern. The only play they have is to make this as muddy as possible which has weakened the euro.

The deadline for the next ‘update’ probably not a solution is on Friday of this week and when this happens I expect the Euro to strengthen making buying the single currency more expensive. This however could easily be the catalysts that starts the rates on a a negative trend in the run up to the election in the UK which is just 15 days away.

What I am saying is that many experts are thinking that we will now have a negative trend start for GBPEUR levels. So if you have euros to buy in the near future you have to have a very strong argument to wait. For a full break down of forecasts, live prices and tools contact myself or the team via hse@currencies.co.uk

 

 

 

‘Luck shines most on those who have made preparation to grasp their opportunities’

Do you know who is going to win the election in the UK? Nor do I. But I think a hung parliament is looking more and more likely, this is something anyone considering buying or selling sterling should be very aware of. The pound is likely to fall in the coming weeks as uncertainty rises as to who will take the reign of the UK public finances. This is not a time to be sitting on the fence waiting for something to happen!

Moody’s the ratings agency confirmed yesterday that they view a UK exit from the EU more damaging than any uncertainty over just how the election pans out. As a client pointed out to me recently any uncertainty in the UK parliament may pale into insignificance when compared with some of the uncertainty in the Eurozone at the moment!

Simply put no one can say exactly what will happen. But from my experience of past events (the 2010 election and the Scottish Referendum) sterling is likely to fall before the event before rising after. However with the Tories pledging a referendum on Europe and Labour pledging to increase spending neither outcome looks good from a market perspective. It may be that sterling could fall further after the election or around the result as the parties scramble to get in bed with one another over important issues.

If you are considering a sterling transfer in the future the coming weeks may present at opportunity that does not return. Making plans in advance is the only way to limit your risk and help maximise your currency exchange. We offer a specialist proactive service to help you get the most from the market when transferring money overseas. This blog is intended to highlight important events and information in the market so that you can help minimise your risk through an informed decision.

To really get the most from our service speaking to one of our team or myself is recommended. I Jonathan Watson have worked as a foreign exchange broker for the same company for 6 years and am here to assist in the planning and execution of any international money transfer you need to make. I cannot tell you exactly what to do but hope to provide useful insight and a platform for achieving the most for your money. Even if funds are not required at this stage with plenty of uncertainty around, utilising a forward contract or a stop loss or limit order might be a good idea.

I am very confident I can show you a saving on the exchange rate versus other sources and also offer a friendly, knowledgeable service above any bank or foreign exchange broker. If you wish to learn more about the pound and just what to expect plus what you can do about the uncertainty up ahead please email me on jmw@currencies.co.uk

Other Currencies News

CAD – Unemployment data today at 13.30 has helped the current 2 month high the Loonie dollar is enjoying against sterling. In a nutshell the Canadian dollar is benefitting from an improved Oil price and overall improvements in their biggest trading partner America’s economy. The Loonie may well track further future projected improvements in the USD against sterling so anyone buying the Canadian dollar in the future might wish to make plans sooner than later.

AUD – The Reserve Bank of Australia decided not to cut their interest rate as expected helping the Aussie to strengthen against sterling. Expectations are for the RBA to make at least one more rate cut before the end of the year as they seek a weaker currency to help boost their exports.

ZAR – A general improvement in risk appetite and commodity prices has helped the Rand to rise against sterling, anyone selling Rand for the pound might want to move on any GBP weakness before the upcoming election.

No matter which currency you are buying or selling and when, please feel free to make contact to be kept up to date with the latest news and events which may alter your price. Whether a regular business buying currency or a private property investor looking at a one off international payment, I am sure I can offer you something of interest.

I look forward to hearing from you, please don’t forget to vote :)

Jonathan

Important economic data out tomorrow for those with an interest in Euros and Dollars (Daniel Wright)

Although quiet for the U.K tomorrow brings us two fairly important pieces of economic data from both Europe and the U.S with European growth figures and U.S Non-Farm payroll data due out at 10:00am and 13:30pm respectively.

The final revision for growth figures during quarter 4 of 2014 is due out at 10am and expectations are for the figure to have been revised up a little which may lead to a little Euro strength to end off what has been a torrid week for Euro exchange rates.

Later on in the day we have U.S Non-Farm Payroll data which is a data release important for those with a Dollar interest and indeed interest in the ‘riskier’ currencies such as the AUD, NZD and ZAR. Non-Farm Payroll data is essentially the number of people in Non-agricultural employment over in the States and is a key indication as to how their economy is performing.

This release can cause quite a lot of volatility because predictions are made in advance and these can be wildly out. The market moves on rumours and predictions as well as fact, and should the figure come out quite a way from initial predictions the market does correct itself rather swiftly.The reason this effects the AUD, NZD and ZAR and pretty much most majors is because as I am sure you can imagine it will affect attitude to risk and will lead to rapid movements of large amounts of money globally in what generally presents an interesting week to say the least without any surprises popping up during the course of it.

If you have an upcoming transfer to carry out and want to get the best exchange rates along with great customer service and knowledge of the markets then email me (Daniel Wright) directly djw@currencies.co.uk I welcome all enquiries for bank to bank transfers however i’m afraid I cannot help with cash transactions or speculation.

 

Our award winning site is not only a great source of information but we can save you money and make your life easier too! Contact us today! (Daniel Wright)

Just to make you aware we have now had over 5500 people contact us through the site who have managed to get better rates of exchange than their current currency provider. If you are using one of the following it may be worth you getting in touch for a direct comparison:

Moneycorp, HIFX, World First, Smart Currency, UK Forex, Oz Forex, Foremost Currency, Foreign Currency Exchange, Currency Index, Currencies Direct, XE.com, Transferz, NZ Forex, Halo, Afex, Tor FX and Hargreaves Lansdowne.

Not to mention Barclays, Lloyds, Natwest, HSBC, Yorkshire Bank, Clydesdale Bank, RBS, Halifax, Nationwide and pretty much all major banks.

We don’t only pride ourselves on a great exchange rate but also a really high level of service too, which you may find you are not getting to a high enough standard at present.

If you are using an online trading platform then make sure you get straight in touch, with an online platform you do not have someone negotiating on your behalf therefore generally do not receive the best rate of exchange you can.

We deal with bank to bank transfers ranging from one thousand Pounds to multi million Pound transactions for both private clients and corporate clients… We have a regular payments facility too which is free and can assist anyone with smaller payments to Europe.

The company we work for is FCA registered and Authorised as a payments institute and all funds are kept in client transaction accounts to give you peace of mind your funds are safe and secure, we have won awards both for our exchange rates and customer service and have now 50,000 clients under our wing. Anyone that contacts us through this site will deal with one of the authors, if there is an author you find particularly informative you can use them directly.

I have to say I am really proud as to how much this site has picked up over the past three years and it is thanks to my regular readers that it is as popular as it is today – Let me return the favour with exceptional exchange rates.

If you feel we could be of assistance to you as well, feel free to get in contact with me (Daniel Wright) the creator and main editor of this site  djw@currencies.co.uk or you can indeed fill in the enquiry form on this page and one of us will call you back.

You can also join our mailing list on this page too.

We look forward to speaking with you soon!

 

How will UKIP affect sterling?

UKIP continue to make gains in polls and are certainly likely to be a thorn in the side of the more established parties, indeed they already have been. But is this more a reflection of the tough times ahead for the UK (and the pound) or a flash in the pan protest vote?

UKIP have the power to severely undermine confidence in sterling. there is tremendous uncertainty posed by a party with no solid economic idea from what I have seen. Aside from promising to withdraw from Europe and playing on peoples immigration fears it is difficult to find concrete policy. Let it be known that any withdrawal from Europe would have wide reaching consequences for the UK economy and hence the pound. Whilst it might be welcomed we examine the relationship with Europe the economic benefits of being part of Europe should not be underestimated.

We shall learn much more about the true effects of UKIP on the pound in the next few months as we have bi-election and then the General Election in May 2015. The effect on sterling from increased political uncertainty will undoubtedly be negative and anyone hoping to see sterling keep climbing in 2014 and beyond might be disappointed.

To keep up to date with the pound and how important events affect your exchange please contact me Jonathan on jmw@currencies.co.uk

Exchange rate super saver – Last day of the month/quarter and we are feeling generous so contact us today! (Daniel Wright)

Having helped thousands of new clients that have contacted me through this site I thought I may put an offer out there for anyone that has not already got in touch yet reads our updates on a regular basis.

If this relates to you  then I welcome you to contact me directly with how much you are looking to exchange, what rate you have been offered and your contact number and I am confident I will be able to beat anything with our one day currency sale.

Any small improvement on an exchange rate can make your currency much cheaper to buy so this really is a great opportunity if you know you have a pending currency transfer to make.

Please note we do not deal in cash/ travel money.

All you need to do is email me (Daniel Wright) the editor and owner of this site on djw@currencies.co.uk with your details and I will get in touch personally.

We now have almost 60,000 regular readers each month and we would like to thank all of you for supporting our site over the years.

 

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