Tag Archives: data

Sterling report and forecast – The week ahead for economic data (Daniel Wright)

Sterling exchange rates have remained fairly flat against most majors in the last week of trading, still hovering around a five year high to buy Dollars and a 20 month high to buy Euros.

With a fresh month starting tomorrow and plenty of economic data due to come out I thought I would give you an overview of what we are due to see released this week.

Overnight – We have the RBA (Reserve Bank of Australia) release their interest rate decision at 05:30am tomorrow morning and although no change to interest rates is expected all eyes will be any comments on the value of the Australian Dollar and if the strength of it is again viewed in a negative light by the RBA then we may see the AUD become cheaper to buy overnight.

Tomorrow – European data will be the main focus in trading tomorrow morning  with a host of manufacturing data along with unemployment data from Germany, Italy and the Eurozone as a whole. The unemployment rate is expecting to stay at 11.7% so any alterations to this could give the Euro a volatile morning tomorrow to start off the month. U.K manufacturing PMI is also due out at 08:30am and a minimal drop is expected so unless there is any major change to this I would expect to see a huge amount of movement off the back of it.

Wednesday – Australian Trade balance figures will come out overnight and then we have European GDP (Gross Domestic Product) figures are out at 10:00am which should set the scene for the day for Euro followers. Speeches from the RBA Assistant Governor Debelle and Federal Reserve’s Janet Yellen will also be of great importance for the Australian Dollar and U.S Dollar.

Late night on Wednesday/Early morning Thursday Australian Building Permits and Retail Sales, along with some services data from China could round off a busy week for the Australian Dollar with a bang. Personally I Feel we still have gains to make over the AUD however it has been holding well and truly firm over the past month or so, which is always a concern when U.K economic data has been so good.

Thursday – Thursday we have Services PMI data from just after 8:00am until 09:30am for the Eurozone and U.K with no great alterations to the previous month expected.

In my opinion the main focus for Thursday will be the ECB (European Central Bank) Interest rate decision at 12:45pm and more importantly the press conference shortly after it at 13:30pm. With rates being cut last time around I would be surprised to see the actual rate decision throw up much but the press conference held by head of the ECB (Mario Draghi) always tends lead to a great deal of market volatility.

It usually goes on for around an hour and investors/speculators will be hanging off of his every word, we have seen anything up to a 1.5% swing (£1500 on buying a €125,000 property) during this time frame so if you are in the process of buying or selling a property abroad in Euros it will be prudent to make me aware so that I can inform you of any potential opportunities that may arise.

Friday is Independence day therefore a bank holiday in the States and very thin on the ground for economic data so unless any surprises pop up the markets may be a little more range bound. Do be aware though that due to there being a bank holiday in America there will be thinner trading levels therefore smaller pieces of economic data can have a larger effect than normal.

If you have a requirement in the future but you do not yet have the full availability of funds you can book out a forward contract. This is where you can book a rate out for up to a year in advance with just a small deposit, removing the risk of the currency market making your purchase any more expensive in the future.

This is ideal if you are in the process of buying a property overseas as you can know exactly how much the property is going to cost you today and eliminate the risk of the Pound dropping away again and missing out on this great opportunity.

I look forward to speaking with you if you have any questions or queries or you would like to book out a rate of exchange.


Sterling exchange rates following inflation data – The Bank of England is stuck in a tricky position to say the least (Daniel Wright)

The Pound has risen ever so slightly this morning following inflationary data coming out slightly higher than expected.

The Bank of England would like the Pound to be weaker but the problem they face is that the lower the Pound the more imports will cost, therefore goods are more expensive which is not good for inflation.

Raising interest rates to combat inflation will lead to more expensive borrowing costs for everyone and growth being stunted due to less investment.

Not a nice position to be in – A rock and a hard place comes to mind!

For those of you that do not follow the markets the reason that this has led to the Pound gaining value is that the Bank of England do not want to have inflation getting too high and this is a sign that is is creeping up (things are getting more expensive to buy). The best way top tackle high inflation is to raise interest rates and a hike in interest rates generally is seen as positive to the currency concerned as it makes it more attractive to investors.

The currency markets do move in advance of things like this happening which is why the Pound has gained as the chance of a rate hike has increased ever so slightly.

Of course there are a lot of other factors that may affect rates in the coming days, we have the Bank of England minutes tomorrow morning which will show us how many members voted in favour of or against both Quantitative Easing and an interest rate change.

Indications that we are on the edge of further QE may be seen as negative for the Pound and the last few months this has been the more likely however any indications that members heads are moving towards a hike in rates could lead to another boost for Sterling.

Be aware we also have the budget tomorrow which in all honesty is rarely a big market mover however you always need to be cautious of a surprise popping up!

If you have a pending currency transfer to carry out from bank to bank and you want not only to maximise your exchange rates but also to receive a great level of service and assistance then feel free to contact me directly by email djw@currencies.co.uk with a brief description of your requirement and a contact number and I will be more than happy to call you straight back. We have won numerous awards both for our rates and customer service and I will be highly surprised if I cannot save you money over your current provider.

I look forward to hearing from you.


Sterling – Euro rates continue the decline – U.K data and weather leading to a miserable start to the year for those holding Pounds :( For anyone selling Euros to buy Pounds you currently have a late Christmas present! (Daniel Wright)

The Pound once again had a terrible week against the Euro and indeed the majority of major currencies as bad new continued to come out for the U.K in terms of economic data and indeed well known high street stores going into difficulty.

Personally, i’m not worries about the stores that have found trouble as I believe if you look at each one individually none of them have actually moved with the times quick enough  and got involved in the ever changing technology that you need to offer as a business in these times to make life easy for the consumer.

The real worry is the mountain of poor economic data we have had so far this year, everything is now pointing towards poor GDP (Gross Domestic Product) figures this week which could (although probably expected now) give us a further kick whilst we are down and will also get the media back on to the ‘Triple dip recession’ bandwagon!

The Euro however seems to be ever popular and bond auctions are surprising everyone at the moment as they are showing a great demand, i’m not sure what these high end investors know that I don’t but i’m fairly sure my money wouldn’t be going anywhere near Spanish or Italian bonds – I would rather put the money on the Grand National! Either way people are investing in the Euro and in turn it is gathering strength rapidly, with the head of the European Central Bank also seemingly confident (or at least showing confidence in his speeches) there could still be a little way to go for this trend.

Be warned however as members of the European Central Bank are starting to become concerned at the value of the Euro so I wouldn’t expect to see much more strength myself – I can only say what I would do if I had Euros to sell and I would be fairly tempted to get something booked out reasonably soon to take advantage of such a great movement in your favour.

If you have a pending currency requirement involving either buying or selling the Pound against any major currency then I can help you personally, the company I trade for has won numerous awards for exchange rates and you get to deal with me personally so not only do you get the rates but the knowledge to help you make your decision.

Feel free to contact me directly on  djw@currencies.co.uk with a brief description of your requirements and a contact number and I will call you back wherever you are in the world at a convenient time. If you find our information on this site useful and feel that you aren’t getting the very highest level of service along with the best rates of exchange from your bank or current broker then why not contact me to compare – It won’t cost you a thing and you have nothing to lose!

Enjoy the rest of your weekend, i’m off to shovel the snow off of my driveway! :(

Pound Sterling Forecast – Economic data out that may move exchange rates this week – A busy end to the week for the Pound

Good morning to my regular readers and I hope you are all back into the swing of things after the festive season.

We have a really busy week in terms of economic data this week so I thought I would outline what is due out below, as always do feel free to contact me directly by emailing me on djw@currencies.co.uk and I will personally get back to every mail i receive.

Tonight – Retail sales are released in Australia tonight which could lead to an overnight movement for the Australian Dollar – expectations are for a minor rise however personally I feel we may see a bad start to the year for Australian economic data. The problem those looking to buy Australian Dollars have is the global attitude to risk – As long as issues surrounding the Eurozone remain off the front pages and stay quiet I feel the AUD will still hold its ground fairly well.

Tomorrow – We have a busy morning for Sterling tomorrow  with our trade balance figures being released, expectations are for this figure to be a little better and personally I feel on the flip side to the Australian data this month the U.K data may be fairly positive – Ignoring the U.K service sector activity dropping last week.

Thursday has the ability to cause quite a bit of volatility especially for those of you looking to buy or sell Euros. European unemployment and inflation data is out at 10:00am followed by the U.K interest rate decision at 12:00pm – No change to interest rates is expected however do be aware any comments on future fiscal policy or any more QE may have quite an effect on the Pound.

A little later in the afternoon  at 12:45pm we have the European interest rate decision – Again no change in rates expected but the key thing will be the press conference by head of the European Central Bank Mario Draghi at 13:30pm. I’m going to stick my neck on the line and say I would not be surprised to see him come out with something fairly large as the European crisis has been very quiet for quite a period of time (like these things are during the festive season) However the problems certainly have not gone away!

Friday brings a set of Chinese data in the early hours which again will be key for Australian Dollar followers we then have Swiss inflation data at 08:15am – U.K industrial and manufacturing production data is out at 09:30 am and hopefully this will give us a slightly more positive result than that of the Services data we saw out last week.

We have inflation data for Europe and the States throughout the course of the day and then later in the afternoon we have the NIESR (National Institute of Social and Economic Research) releasing their estimate of GDP for the final quarter of 2012. This estimate is usually taken fairly seriously by investors and should this be or be close to negative then we could see a big drop for the pound towards the end of the week as a potential ‘Triple dip’ recession will back on the front pages again, of course if the data is positive it could lead to a great end to the week for those looking to buy foreign currency.

If you have upcoming currency requirements either to buy or sell foreign currency involving a bank to bank transfer either as a personal transaction or a corporate transaction then I can help you with this both in terms of a fantastic all round service and award winning rates of exchange, even if you are happy with your current source for currency it is always worth comparing as the slightest increase in your rate of exchange can save you a lot of money over the course of a year.

Feel free to contact me (Daniel Wright) directly by emailing me a brief description of your requirements along with a contact number and I shall be more than happy to contact you personally to see how I can help. You can contact me on djw@currencies.co.uk

How will the pound fare against these currencies in 2013? AUD, NZD, CAD, ZAR Forecasts.

The pound has had a typically uncertain start to 2013 with declines in Services and Construction, but with improvements in Manufacturing. As always these early month releases have affected short term movements against currencies giving well prepared clients opportunities to maximise their rate. This site of course focuses on GBP but when looking at rates on your currency it is important to be aware of global events that may affect the currency you trade. I have chosen AUD, NZD, CAD and ZAR because there are many common themes affecting their movements. Sterling doesn’t see too many independent moves in the same way these currencies do and with the global economy the way it is, the moves on these currencies can be unexpected. An awareness of what drives your rate is key to understanding the market and getting a good deal. Whatever your level of interest in the markets always feel free to post a comment below or contact me Jonathan directly on jmw@currencies.co.uk for information.

I think the big movers for the pound itself this year will stem from the prospects of further QE as well as UK growth prospects. Significant independent GBP moves should only really be affected by these concerns. For the month of January we are unlikely to see QE and henceforth a big drop for the pound looks unlikely. Therefore anyone who can hold out longer before they sell the pound for a currency may find an opportunity in the future. This means that those selling a foreign currency to buy sterling may wish to position themselves to move sooner particularly since current rates are so good.

GBPAUD – Positive data from China and improved global sentiments due to the fiscal cliff are keeping the Aussie strong. 1.60 has been a target for many of my GBPAUD buyers but this rate looks unlikely to be hit anytime soon. Conversely those selling are targeting a 1.50 so we are loosely in the middle of such rates. Current market conditions indicate to me there is more chance of the rate hitting 1.50 before 1.60 due to likelihood the Australian economy will remain strong and the fact the pound looks unlikely to stage the kind of resurgence that would enable 1.60 to be hit. The general improvement in market sentiments due to eurozone stability and resolution of the fiscal cliff back up my claim here but things can change quickly. If you are a buyer or seller of Aussies you can make an enquiry directly with me on jmw@currencies.co.uk and I can keep you posted on developments.

GBPNZD – The Kiwi has strengthened lately as Asian data remains positive. A move towards 2 looks unlikely but we could easily see a change in sentiment down the line. As with the Aussie the current market conditions coupled with a weak pound indicate a move towards 1.90 is more likely than the higher rates. On both currencies sentiments can quickly change so some preparation ahead of needing to make an exchange will help you in achieving the best rate.

GBPCAD – The Canadian Dollar has been boosted from the fiscal cliff deal and improved global sentiments. Now back comfortably below 1.60, this could be a good time for sellers to enter the market. The Canadian economy relies heavily on the US and the indications from the US Federal Reserve QE will end in 2013 also helped the currency. Much like the Aussie and Kiwi I expect the Loonie to be well supported and to only be moved by sharp changes in sentiment. I would be surprised to see us above 1.60 in the short term although the debt ceiling negotiations could provide the kind of spikes we saw late December. If you missed the boat on buying at this time and are waiting for an improvement you could be in luck depending on how long you can hold out and how steady your nerves are.

GBPZAR – The ZAR suffered massively due to uncertainty last year. Political uncertainty is a major turn off for investors and the much lower than expected growth in South Africa due to the uncertainty dented confidence. Nevertheless the South African economy has lots going for it with many mineral resources of interest to the West and East. As with those above it looks more likely the currency has recovered somewhat and a settling of tensions globally has helped the Rand. I think this is the currency the pound is most likely to enjoy strength against simply because it is the weakest overall. Sentiments on the Rand are frayed and it will take time to restore confidence. I would not be surprised to see a move above 14 again but unless there is major uncertainty presented to markets, cannot see it moving significantly higher.

Unfortunately no one has a crystal ball to tell you exactly what will happen in the future. But an awareness of all of the fundamental issues surrounding your currency deal will help you make a decision. We aim to make things as easy and simple for our clients so even if your requirement is just a one off speaking to us could save you thousands. This site and the people behind it have won various awards for our straightforward approach to information for those considering currency transfers. It would be impossible to run trough all the details in one post so if you would like more information on anything to do with an international money transfer (even if it is a one off) please feel free to make contact and we can guide you through the process. We handle bank to bank transfers from 1000 GBP to multi million pound transactions and assure you of the very best rate and service. All the best for 2013, jmw@currencies.co.uk

Spain update what is happening with the EURO (Steve Eakins)

In what has been a fairly quiet few days for the Eurozone all changed yesterday when new data showed the fortunes of Spain and the very important story of whether an official bailout will be requested.  We have discussed this a lot on this blog as it is a huge factor in the strength of the euro moving forward. (Feel free to read down this page for a full breakdown of the bond buying program.)

In summary any data that shows the economy in Spain is weakening, makes it more probable that they will need a bailout, and this bailout, I would expect would weaken the euro and help euro buyers. Yesterday they reported on their debt to GDP or debt ratio and last time this was published it showed a ration of 4.9%. Yesterday the data showed that it had dropped to 4.3% due to additional tax revenues and as a result the euro strengthen.

Other news yesterday showed that Economic Confidence across Europe fell for the eighth month in a row, it now stands at the lowest point we have seen for more than three years. It was expected to fall due to the austerity measures across the Eurozone undermining consumer and business confidence, but when it was published a worse than expected figure was released.

Eurozone Services and Manufacturing Output has also been contracted and with Eurozone Unemployment at the highest since 1995, most analysts now expect the slump in Europe to continue into the fourth quarter. This was also shown as expectations for growth this year and next where recently cut by both the European Central Bank and the International Monetary Fund. You can understand why as five members of the single state are in a recession and a quite a few others are not that far from following them.

So what can we expect from the markets today? 

Later today we have Eurozone Consumer Confidence which is released at 10 am, this is expected to show a contraction and I expect to see GBPEUR fall as a result.

Something else to be aware of today is to highlight that we are at the end of the month. Traditionally this is when bills are paid between the UK Government and the Europeans so we traditionally do see a run on rates in afternoon trading. This I think will be bigger than most months as the US is open again after 2 days closed due to hurricane Sandy.

If you have any exposure to the single currency, the euro, our service is here to help! We provide a pro-active service keeping you up to date with
market movement helping you trade wisely. Highlighting peaks in the market and what times on which days to watch for a positive movement. Simply put if we could not save you money compared to your current provider we would not be in business! So please make contact and experience for yourself why we have received several awards for both our service and our rates of exchange.

You can call us on the normal number or by emailing me directly at hse@currencies.co.uk

Thank you,

Steve Eakins


Pound Sterling Forecast – Data tomorrow to be aware of

Sterling data tomorrow to be aware of:

Tomorrow we have the release of industrial and manufacturing data for the U.K along with Trade balance figures in what is an extremely quiet week for the U.K regarding economic data.

These figures will no doubt be key to the performence of the Pound against all major currencies in trading tomrorow and the only other data of note is the NIESR (National Institute of Social and Economic Research) estimate for U.K GDP figures. This data can cause a shift on the market as the NIESR are not always too far away with their predictions and with the market moving on predictions as well as fact should the number be better or worse than we have generally been seeing the market may move accordingly.

Euro data to be aware of tomorrow:

Tomorrow morning may set the tone for the week regarding the Pound and the Euro as we have head of the European Central Bank Mario Draghi speaking at 08:30am along with a flurry of early morning European data including budget, trade balance and general imports and exports. Comments from the head of the ECB on Thursday confirming once agains that he felt the Euro was irreversable are still keeping confidence in the Euro high and therefore helping it gain strength.

To top off the morning of European volatility we finish off with inflationary data for Europe at 10:00am.

Australian Consumer Confidence

The final piece of the currency jigsaw t will be Australian Consumer Confidence which actually is out at 00:30 on Wednesday morning but I thought it would be worth you knowing about if you have an interest in Australian Dollars, I would imagine given the latest drop in interest ratess and the performance levels of the AUD dropping ever so slightly we may see a small drop in confidence however be prepared for anything on this one as the Australians have liked to surprise us of late!

Regarding forecasting it is hard to know what the week may bring until after we have seen the majority of results out tomorrow morning as there are so many variables it is hard to predict without a few of the facts from Europe laid out in black and white.

Keep coming back to the site for our predictions and to hear twhat effect the result of tomrorow’s data has had on your currency transfer.

Ultimately no one can say exactly what will happen on exchange rates which is why a bit of forward planning is essential.

For more information on getting the very best exchange rates plus a forecast unique to your particular requirements please feel free to make contact directly with me Daniel Wright djw@curencies.co.uk  or call 01494 787 478. I welcome any enquiries for  clients looking for assistance on their transfers. I look forward to hearing from you and hopefully enlightening you! Thank you.

Pound Sterling Forecast – Will the UK cut interest rates? What will the pound do next? GBPEUR, GBPUSD, GBPAUD, GBPNZD Forecast

Well as I predicetd earlier this week the pound did find some support following indications that all was not quite as bad as expected for the UK. The lack of any support for further QE or an interest rate cut kept the pound bouyant on Wednesday and yesterday’s Retail Sales were strong enough to provide the pound with a lift against most currencies.

To cut or not to cut?

I do not expect an interest rate cut for the UK. Mervyn King made clear he felt it would do more harm than good to the UK economy to cut rates and the Bank of England Monetary Policy Committee confirmed no members had voted for a rate cut. Ever since Christine Lagarde, Managing Director of the IMF (International Monetary Fund) suggested a rate cut, there has been more speculation of this occurring. Particularly with the UK entering the dreaded double dip and the prospect of things deteriorating further in the future. For the time being there appears to be no danger of this hurting the value of sterling, although more QE does look likely.

Zig Zag Economy

The pound and the economy is continuing to zig zag proving a real headache for policymakers and forecasters, as well as anyone needing to buy or sell the currency. Let us look at some of the more favoured pairs and see what we can expect in the future:

GBPEUR – ‘Still at close to a 4 year high’ – This is easily forgotten and should not be overlooked. As the saying goes a bird in the hand is worth two in the bush. Whilst it is tempting to hold out for further improvement on the exchange rate to the recent highs or even 1.30, there is a danger you could miss out on what are absolutely fantastic rates that if available only a few months ago would have been snapped up in seconds.

I personally cannot see a break for the 1.30 mark anytime soon. The German Constitutional Court rules next month on the legality of using taxpayer money for European bailout funds. This is an important challenge and until this is resolved there are a number of issues on which we will have to wait. Because of this I cannot see any room for immediate Euro weakness, but indeed there is little room for it to strengthen significantly out of the current range. If you are considering any GBPEUR or EURGBP currency transfers (including bringing Euros from overseas from say a property sale), we can help you with a safe, secure method of transferring your currency at a commercial exchange rate. If you have such a requirement please feel free to call me Jonathan on 01494 787 478 or email jmw@currencies.co.uk

GBPUSD – With all of the current indicators leaning towards more Quantitative Easing it looks like the dollar will lean closer towards 1.60. One of the biggest drivers on USD rates are attitudes to risk. When there is fear over the global economic outlook, the Dollar can gain in value as investors put their money somewhere reliable and unlikely to fluctuate too much. Consequently when fears subside, investors are confident to invest in other areas and the dollar weakens. Lately sentiments have improved as we start to feel that something will be done for Europe. As implied above we are unlikely to see any headline grabbing announcements that will affect confidence relating to the Euro until Germany makes a decision next month. This event could be the trigger for a break out of the current ranges, but with more QE expected as early as the start of September, there are many other triggers that could move GBPUSD.

GBPAUD – Expectations the Aussie would break the all time high against sterling have not been met and the rate has actually danced with the 1.50 mark as the pound found some favour this week. More talk over wobbles in China helped compound losses on the Aussie too. Nevetheless I think the currency has everything going for it and can only get stronger against sterling. If looking to buy this currency I would be very tempted to move currently as it may soon return to the levels of last week.

GBPNZD – The Kiwi has suffered some losses too presenting a good buy opportunity. I do not foresee the rate improving much since the underlying factors keeping the Kiwi strong remain. That is a fairly bouyant economy benefitting from Chinese and Australian demand, as well as having a much higher interest rate than most other currencies, which again keeps up investor demand. If I was buying the Kiwi or thinking about it in the future I would be worries the Kwiw would strengthen and perhaps the pound would fall too.

Making currency forecasts and providing unbeatable exchange rates is what we do! Every day myself and the other bloggers here are asked by our clients what to expect for the future. We then assist as required with a commercial rate when they want to exchange, simple! Even if you don’t need to move for some time, making careful enquiries now could well save yourself money in the long run.

I have never been beaten on an exchange rate and encourage you to make a comparison between us and whoever you currently use to see just how much you can save. Please contact me, Jonathan Watson via email jmw@currencies.co.uk or phone on 01494 787 478.

I look forward to hearing from you and assisting you with the very best deal.

Thank you,




The week ahead for the Pound – A lot to cram in this week before a well deserved break! Economic data out this week and what may happen

Well we do indeed have a lot to cram in this week before a long weekend and what may even be a white Easter here in the U.K the way things are going.

After last weeks pasty and petrol combo that grabbed the headlines, this week should bring a slightly more interesting and relevant amount of news as there is a lot of economic data out accross the globe.


Already this morning we have seen manufacturing data for Germany come out worse than expected and for the U.K data has indeed been better than expected, leading to another good start to the week for the Pound against most major curencies.

Shortly we will see the release of the European unemployment figures at 10:00am and i’m fairly sure that this won’t be news to celebrate for the Euro once again.

Overnight we see the Reserve Bank of Australia release their interest decision and it has been suspected a rate cut could be in order some time soon over there, should we see this then you may find the AUD weaken once again (an interest rate cut is generally seen as negative for the currency concerned as it makes it less attractive to investors). Should you have a transfer either buying or selling AUD then a limit or stop loss order may be sensible to protect yourself overnight, email me djw@currencies.co.uk for more details on this option.

Tuesday – GBP EUR

European GDP figures are out tomorrow morning and contraction is on the cards, this may again lead to Euro weakness in early morning trading however be aware that this is expected and the markets do move on expecatations as well as facts so if this release isn’t as bad as expected the Euro may pull some ground back.

Wednesday GBP EUR AUD

Australia release trade balance figures very early on Wednesday morning, this is a measure of imports and exports and should show us just how well Australia is still riding the Chinese wave.

For Euro followers the ECB (European Central Bank) interest rate decision is out followed by a press conference in mid afternoon. Quite often the rate decision doesn’t throw too much into the mix however the press conference follwing it genrerally leads to Euro volatility depending on what head of the ECB Mario Draghi  has to say about how he plans to tackle the current crisis.

Thursday - GBP CHF CAD USD

Before trading lines open those with an interest in the Swiss Franc may see some movement as CPI (Consumer Price Index) is released, this is inflationary data however I highly doubt it is going to move the marjkets too much, the GBP-CHF rate has been fairly static to say the least of late as investors wait and see just what the Swiss National Bank will pull out of their locker next.

Industrial and Manufacturing production is next on Thursday morning for the U.K and following a fairly positive release this morning I would not be surprised to see this lead to a minor spike again for the Pound.

Heads turn to Canada at 11:00am as the Canadian unemployment rate is released, expectations are for it to stay at 7.4%  (much better than the 23% in Spain however) any change to expectations could lead to a volatile end to the week for the Pound.

The USD finally gets a go on Thursday lunchtime at the end of what is quite a quiet week for the Dollar as jobless Claims data is out (similar to unemployment and may give an indication to how Non Farm Payrolls will come out next)

Finally to round off the week the NIESR (National Institute of Economic and Social Research) release their GDP estimate for the U.K – GDP is in no doubt in my mind going to be the big talking point this month (If figures from quarter 1 for the U.K are negative we are back in a recession officially) and they are expected to predict a growth of 0.1% – Any change to this could lead to a mad end to the week and the it is going to be so tight as to whether the official figure at the end of the month is positive or negative that the Pound will no doubt be extremely jittery this month.

I personally feel the Pound may have another positive week, if you have an upcoming transaction to make either this week or in the coming months then feel free to contact me directly by emailing me djw@currencies.co.uk – The company I work for have won numerous awards for both exchange rates and customer service and if you find my site here a valuable read then having me as your personal broker should come in extremely handy too. I look forward to speaking with you.

What may happen to the Pound today? Interest Rate Decisions and Press conferences to be key – U.S Dollar data tomorrow with Non Farm Payroll Data

Interest Rate Decisions – What may happen today?

Today sees the release of interest rate decisions for both the Bank of
England and the European Central Bank at 12:00 and 12:45pm respectively.
Although no change in interest rates is expected, the key for the two will be
as follows:

Further QE for the U.K? All eyes will be on Quantitative Easing when the Bank
of England release data at 12:00pm. For those that have followed the markets
over the past few years you will be aware that even the mere mention of QE
(essentially printing and injecting more money into the economy) tends to weaken the Pound. Last Wednesday the
Pound saw great losses as the BOE mentioned in the minutes of their last
interest rate decision, that more QE had been discussed and indeed two members
of the Monetary Policy Committee had voted for more QE than we actually did
receive, suggesting more may be just around the corner.

ECB Mario Draghi Press Conference – Following the ECB rate decision this afternoon the
markets will no doubt be dominated by the ECB press conference and what plans
‘super Mario’ has to tackle the various problems Europe has to deal with. We
can see quite wild swings during this, the mention of another cut in rates may
be Euro negative and a confident stance surrounding Greece may be seen as Euro
positive. If you have an upcoming transfer to carry out involving buying or
selling the Euro, you should contact me on djw@currencies.co.uk so I can make you
aware of any changes to exchange rates either positive or negative for you.

U.S Dollar Forecast and Non-Farm Payroll Data due tomorrow

The Sterling Dollar rate of late has been
a bit of a rollercoaster for those with a Dollar interest be it buying or
selling, and to be honest with the ongoing European debt problems and investors
not knowing what may be going on behind closed doors this rocky ride is sure to
continue. In times of uncertainty investors tend to look for a safer haven, one of which is the USD.

Tomorrow we also see the release of U.S
Non-Farm payroll data at 13:30pm and this release can be just as important as
an interest rate decision as predictions by analysts in advance can be wildly
incorrect, and with the market moving in advance on rumour as well as fact, a
stiff market correction can happen fairly rapidly, affecting all major
currencies. My personal opinion is that the Dollar will continue to strengthen
in the short term whilst problems in Europe are still rife, and we will be
closer to 1.55 than 1.60 by the end of the week.

If you have a transfer to carry out before
then end of the week email me directly here djw@currencies.co.uk and I will call you back. We have a series of different contract types to
assist you ranging from forward time options, to stop loss and limit orders,
feel free to get in touch for a full and straight forward explanation as to how
these options work.

New Zealand Interest Rate Decision

Last night the RBNZ kept interest rates on hold as
expected, however due to a positive outlook on the economy over in New Zealand
due to an increase in Private sector Consumption and an uptick in wage growth
has indeed opened the door for a potential interest rate hike in the next few
months. A hike in interest rates is generally seen as positive for the currency
concerned and merely speculation of this could continue to strengthen the NZD
in trading this morning.

Selling property overseas?

If you are one of the thousands of Brits looking to sell your overseas property
then you will be well aware that the European property market isn’t an ideal
playground to be in at the moment. Here at PSF we try and assist our clients in
every way we can and we have recently re launched our property website www.propertyline.co.uk . For more
information on how to advertise on this site for free please contact your account manager or if you do
not have an account then email me djw@currencies.co.uk
for further information.

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