Tag Archives: currency
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 email@example.com
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
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 firstname.lastname@example.org 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 email@example.com or you can indeed fill in the enquiry form on this page and one of us will call you back.
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We look forward to speaking with you soon!
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 firstname.lastname@example.org
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 email@example.com 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.
Inflation appears to be the main focus for both the UK and Eurozone over the last few weeks as it may have a huge impact on Sterling Euro exchange rates over the next few days.
Inflation in the UK has fallen recently from 1.9% to 1.6% which suggests that an interest rate rise in the UK may be pushed back further in to the future rather than coming sooner as previously expected. The Bank of England target is for 2% and if it consistently gets close or surpasses it then the likely scenario would be for an interest rate rise.
Eurozone inflation is currently running at just 0.4% which is worryingly low and there are fears that it may fall even further tomorrow when the data is released at 10am. If it falls we could see the ECB being forced at next week’s meeting to put in place some form of monetary policy change which could result in Euro weakness.
Also due out in the morning is Eurozone unemployment data which is arguably on of the most important factors in the economy as low unemployment has a direct impact on growth. The expectation is for 11.5% so anything lower could again result in Euro weakness.
Looming over the Eurozone is still the issue with the French government which was dissolved on Monday following internal rows within the cabinet at to whether to increase austerity measures or spend their way out of the crisis.
If you’re thinking about making a transfer to buy Euros over the next few days in may be worth seeing how tomorrow goes before buying your currency.
If you would like a free quote then feel free to contact me directly Tom Holian firstname.lastname@example.org
There is no shortage of the positive things for the pound at present. It is the only major currency genuinely on course to raise interest rates and the British economy is predicted to be one of the fastest growing in the next few months. Unemployment is falling and the economy is growing, the green shoots have for some finally sprouted…
A quick look up ahead however shows that the path to a stronger pound isn’t quite as clear as some forecasters seem to believe. There are three key elements to look out for.
– Political Uncertainty –
Usually ahead of an election a currency weakens. The Scottish Referendum in September still has many unanswered questions and it would be foolish to discount late swing votes. Markets can be fearful creatures and if sentiments turn negative the pound may lose value. Next year is the General Election which could provide plenty of opportunities for GBP weakness. Even though the Bank of England is independent from the Government will rising interest rates be an election topic? Already portrayed as the ‘mean’ party, the Tories may struggle to maintain their economic plan under a new coalition and Labour’s economic plans look very anti – business…
There is also the prospect of the UK leaving the EU, again it is the uncertainty these events present which could undermine GBP gains…
- Rising Interest Rates may derail the economy -
Rising Interest rates could do more harm than good! Property prices are principally rising in the South East, mainly London and this is skewing the market. Other areas of the country are actually seeing prices fall or remain stagnant. Rising Interest rates may serve to undermine recovery in the housing market across the housing market making it more difficult for purchasers to get a mortgage and reducing the disposable income (that is spent in the wider economy helping for example Retail sales) those with mortgages have.
Many commentators have pointed out we are in a new ‘low interest rate’ economy globally. There are drawbacks to this but perhaps the UK needs to be stronger on its feet before interest rates rise.
- A strong pound can be bad for exports and growth prospects -
There have been some of the UK’s biggest companies this week highlighting the detrimental effect the strong pound is having on their profits. Rising interest rates may serve to strengthen the pound further making UK manufacturing and service less competitive in the global economy.
All in all the pound is at multi year highs against many currencies. Assuming rates will remain where they are is a foolish assumption and anyone considering moving larger volumes of currency should note the difference even 1 cent can make on a big volume of money.
If you need to buy or sell a foreign currency we can offer assistance understanding the market and getting the best rates on your deals. We are a group of specialist currency brokers writing this blog for your help. Please feel free to contact me Jonathan directly to learn more.
U.K GDP (Gross Domestic Product) figures to be the key to Sterling performance tomorrow (Daniel Wright)
After another fairly quiet day on the market for the Pound our heads now turn to GDP figures released tomorrow morning at 09:30am. The figure is merely a revision of what we have already had released, however any adjustments outside of expectations may lead to a fairly volatile finish to the week for Sterling.
Following the U.S and their shock revision down to -2.9% in trading yesterday I would be surprised to see anything quite as dramatic come from the U.K and the good news for those looking to buy foreign currency with the Pound is that the figure is expected to be at 3.1% for the year and 0.8% for Q1 of 2014 – a lot better than the States.
We have a similar release from France at 7:45am and then some European Consumer confidence and business sentiment data out at 10:00am so there is plenty to shake the market up throughout tomorrow mornings trading. Personally I would not be surprised to see Sterling have a good solid end to the week as nothing has really come out to hinder our progress… Mark Carney could have thrown a real spanner in the works in either of his speeches yet he didn’t and economic data has be reasonably good.
If you are looking to buy or indeed sell foreign currency in the coming days, weeks or months then please do feel free to contact me directly, you can email me (Daniel Wright) on email@example.com with a description of what you are looking to do and a contact number and I will be more than happy to call you personally. I look forward to speaking with you.