Tag Archives: england

Sterling exchange rates start the week on the front foot (Daniel Wright)

Sterling found rare form in trading today as we saw gains for the Pound against all major currencies.

A huge GBP/JPY transaction in early morning trading and the positive news regarding jobs at Tata steel led to Sterling starting the day off on the front foot and that trend generally continued throughout the trading day.

This bought a great opportunity for those looking to buy foreign currency after what has been a fairly dire few weeks for Sterling against pretty much every currency.

Will Sterling strength continue this week?

The main question now is will Sterling continue to gain ground this week and the answer may lie in how inflation levels come out for the U.K tomorrow morning. As I mentioned in my post on Saturday the Pound really needs a catalyst to give it some strength and if inflation has risen then this may be the catalyst we are looking for. Inflation is one of the key factors that will impact an interest rate decision and although there is no doubt we will not see rate movements anytime soon a rise inflation will still be taken as positive.

On Thursday we have the Bank of England Interest rate decision, meeting minutes and monetary policy summary. This is the sort of data release that can lead to sharp volatility as surprises can pop up in the minutes from the meeting. Investors and speculators will sift through them with a fine toothed comb looking for signs for what the next BOE move may be.

If you have the need to buy or indeed sell Sterling for your business, due to a property purchase/sale or for any other reason then it is important to have a proactive broker on your side and one that can get you the very top levels of exchange – It is very easy to settle for second best in this market but it is key to realise that even the slightest improvement in a rate of exchange can save you a huge sum of money.

If you would like to have a brief discussion with me (Daniel Wright) as to how I will be able to assist you with any pending currency exchange then feel free to email me directly on djw@currencies.co.uk and I will be more than happy to get in touch with you personally.

Chinese growth figures tonight and Inflation data for the U.K tomorrow morning are key for the next 24 hours of Sterling movements (Daniel Wright)

So tonight we will see the latest growth figures from China and expectations are for the worst figure they have released in quite some time. Should this be the case then we may have weakness for the Australian Dollar and NEw Zealand Dollar yet may see further strength for the Euro, making it even more expensive to buy.

There are just so many factors impacting the value of Sterling against other currencies at present including uncertainty surrounding the ‘brexit’ oil prices, China, poor economic data and little potential for interest rate hikes this year.

Tomorrow morning will be the first economic data of note for the week, we have a flurry of inflation data out for the U.K at 09:30am and this may really set the scene for the rest of the trading day as long as China hasn’t had too much of an impact prior to its release.

Bank of England Governor Mark Carney speaks at 11:00 and you can be sure that investors and speculators will be hanging off of his every word, especially if inflation happens to have thrown up any surprises earlier in the morning.

All in all we are set for a fairly volatile day for Sterling exchange rates and however hard to predict I actually feel the Pound may have a better day than we have seen of late and that we may see a chunk taken out of some of the recent losses.

Here at Pound Sterling Forecast we pride ourselves on not only providing regular and informative market data but we also can handle currency exchanges too. All authors on this site work for a brokerage assisting clients with large currency transactions day in day out and we would love to assist you too. If you are new to the site or have been following for a long time then feel free to contact me (Daniel Wright) directly and I will be more than happy to respond to you personally.

You can get in touch with me by email on djw@currencies.co.uk or by contact me on  01494 787 478 (0044 1494 787 478 if abroad) during our U.K trading hours (08:30am – 18:00pm).

Sterling exchange rates set for a busy morning of inflationary data tomorrow (Daniel Wright)

First and foremost I would like to offer the thoughts and prayers of all writers here at Pound Sterling Forecast to France.

I for one will be belting out the French national anthem at the England – France game tomorrow at wembley just to help prove that the world is with you and that we are all in this together. All the majority of us want is peace.

Back to currency and the Pound is indeed set for a busy morning on the markets tomorrow morning as we have the Bank of England inflation report and then a flurry of inflation data to follow later on in the morning.

Inflation has been a key concern for the BOE of late and that will no doubt be highlighted in the report, this may lead to a little Sterling weakness initially if that should happen. The report is due at 9am.

Shortly after this at 09:30am we have all inflation data out at once, a slight move north from the -o.1% we saw last time for CPI (Consumer Price Inflation) may give Sterling a boost back in the right direction however of course if we see the opposite then the Pound may be in for a bad day.

If you are due to carry out a currency exchange involving buying currency with Sterling or bringing money back into Pounds then I can help you. The brokerage we all work for turns over half a billion Pounds worth of currency a year so we can get extremely good rates of exchange for our clients, we also pride ourselves on the very highest level of customer service too.

If you would like to enquire as to how to use our services or just to get a quote then feel free to contact me (Daniel Wright) directly by emailing Djw@currencies.co.uk with a brief description of what you are looking to do and a contact number and Iwill be more than happy to contact you personally.

Sterling flops following inflation drop off – Pound finishes the day down against all major currencies (Daniel Wright)

Sterling has been performing about as well as the England rugby team over the past few weeks and I am afraid that trend has continued today.

Inflation figures released this morning led to further Sterling weakness and it seems like the chances of any interest rate hike in the U.K have been pushed back even further once again.

Interest rate hikes or even the mere speculation of an interest rate hike can be very positive for a currency and the fact that this has effectively kicked the ball down the road has now led to Sterling dropping off considerably.

I am still of the opinion that this is a minor blip for Sterling exchange rates and that we may see a Sterling fight back in the near future however I would now suggest that any pending currency exchange you need to make is approached with caution and it may be sensible to look at exchanging a small chunk or even half of your requirement fairly soon to remove a little of the risk.

Tomorrow morning we have U.K unemployment figures and average earnings figures released at 09:30am. These are extremely important again for the U.K and will have further impact on what the Bank of England do next.

Expectations are for a small rise in average earnings which may give the Pound a little strength back, unemployment figures are expected to remain at 5.5% so any figure that differs from this may cause us another volatile morning of trading.

We assist with not only getting you the very best of market information but for those that are not aware we can actually save you money on the exchange rates when you come to booking out a transfer too. The company all of the writers of this site work for has won numerous awards for rates of exchange and customer service and we would love to add you to our book of over 50,000 clients.

If you were planning on using a bank or already have a currency brokerage lined up then it would be mad not to email me for a quote and to see how I can help you. You can contact me (Daniel Wright) the chief editor of this site on djw@currencies.co.uk with a brief description of what you are looking to do and a contact  number and I will be more than happy to get in touch with you personally.

Pound may surge in trading tomorrow morning if BOE minutes give a nod towards a rate hike (Daniel Wright)

Sterling exchange rates have the potential to creep up over the course of trading tomorrow morning as we have both the Bank of England minutes and the inflation report.

Interestingly enough the BOE are due to change the amount of meetings they have from 12 to 8 which I found out yesterday.

The key really will be how many members of the BOE voted in favour of an interest rate hike, should we have even one more member now in favour of a hike in rates then Sterling may rise off of the back of it as an interest rate hike is generally seen as extremely positive for the currency concerned.

If you have a currency exchange to carry out either now or in the future then it is well worth getting in touch with me personally. I can help you not only get a great rate of exchange but also with the timing of your transaction. Feel free to email me (Daniel Wright) directly on djw@currencies.co.uk and I will be more than happy to get in touch personally to speak to you.

Pound Sterling Forecast – The week ahead… Economic data which may affect Dollar, Euro, Australian Dollar, Canadian Dollar, New Zealand Dollar and Pound Sterling exchange rates (Daniel Wright)

We have had a reasonably quiet start to the trading week but I thought I would take a look at what the rest of the week has to offer.

This evening we have the RBA (Reserve Bank of Australia)  meeting minutes from the last Australian interest rate decision. Any indication on future interest rate cuts or a change in fiscal policy may lead to Australian Dollar movement overnight. It has been Governor Glenn Stevens that has time and time again suggested he would like a weaker Australian Dollar and he is finally now getting what he has asked for. It would not surprise me to see comments from him that may make the Australian Dollar a little weaker.

The rest of the day tomorrow is fairly quiet all round however we have another late night release for those with an interest in Australian Dollars with a flurry of inflation data for Australian and then Glenn Stevens speaking shortly after.

Wednesday will no doubt be interesting and volatile for Sterling exchange rates with the Bank of England minutes coming out from the last interest rate decision in the U.K. Most important will be how many members of the BOE have voted in favour of an interest rate hike. Recent comments by Governor of the BOE Mark Carney have led to Sterling strength so another nod towards a potential hike may give the Pound a boost.

Shortly after this we have the inflation report and this can also lead to a volatile period for Sterling. This is released at 10:30am and I would expect a jumpy market during this period.

An interest rate decision is then the main focus later on which comes from New Zealand and then Thursday only really has Canadian retail sales figures to offer in the latter part of the afternoon.

Finally on Friday we have some manufacturing data for Europe throughout the course of early morning trading  rounded off with New home sales over in the states in the afternoon.

If you have a currency exchange to carry out either now or in the future then it is well worth getting in touch with me personally. I can help you not only get a great rate of exchange but also with the timing of your transaction. Feel free to email me (Daniel Wright) directly on djw@currencies.co.uk and I will be more than happy to get in touch personally to speak to you.

Sterling exchange rate movements today – Quiet week for economic data this week (Daniel Wright)

First and foremost our sincere condolences to anyone involved in the air crash today, always deeply saddening to hear such news.

Regarding currency, we have seen another fairly stable day for Sterling against the Euro and Dollar yet with fairly sharp drops against the Swiss Franc, Australian Dollar, Canadian Dollar, New Zealand Dollar and South African Rand.

We saw inflation figures out earlier this morning which immediately knocked the Pound as inflation dropped to a rather concerning 0% against market expectations of dropping down to 0.1%.

The inflation issue remains a concern for the Bank of England, along with the fact that Manufacturing figures at the start of the week showing the U.k manufacturing levels are really down.

This may be partially down to the fact that Sterling has been so strong against the Euro of late which has possibly led to European clients of U.K businesses seeking to buy their goods and services from elsewhere in Europe instead of from the U.K as Sterling is just so expensive for them.

With this in mind it is no surprise that the 1.40 level for GBP/EUR did not stick around for long and although there are many problems still within Europe I personally still do not see Sterling gaining significant ground against the Euro in the coming weeks, so if you have a pending requirement to buy Euros for your business or to purchase a property overseas then it may be prudent to look at making a purchase soon rather than potentially seeing another boat of opportunity sail away.

If you have the need to exchange any currency in the coming days, weeks or months then it is key to have a proactive and efficient currency broker on your side for it. The company we work for has won awards both for our exchange rates and customer service so even if you are already set up with a broker it may be well worth you getting in touch with me directly and should save you money.

You can email me (Daniel Wright) on djw@currencies.co.uk with a brief description of what you are looking to do and I will be more than happy to contact you personally. I look forward to hearing from you.

 

Sterling exchange rates may be in for a volatile few days to end off the week? (Daniel Wright)

Important Economic data still to come out this week

Following a very quiet start to the week for the Pound here are a few key pieces of economic data due out over the coming few days that may affect the value of Sterling against these major currencies.

The two key days for me may be the Bank of England meeting minutes tomorrow morning at 09:30am followed by BOE Governor Mark Carney speaking in the early afternoon and U.K GDP (Gross Domestic Product) data due on Friday, also at 09:30am.

We are currently still very close to a two year high against the Euro and a nearly at a six year high against the Dollar so trading levels are still extremely attractive for anyone looking to buy either of these two currencies.

Last night we had Governor of the RBA Glenn Stevens speak and he has now once again spoken and confirmed that he is happy with the current monetary policy in Australia, seemingly changing his view that the AUD is too strong and giving the Australian Dollar some early morning strength.

Today – Reasonably quiet for economic data today with the main focus being on U.S inflation data which is due out at 13:30pm this afternoon. As with most U.S data this can have an effect on all major currencies as it does affect global attitude to risk.

Wednesday – Inflation data also starts the day off tomorrow with Australian having their turn this time. Australian inflation data is due out at 02:30am so could be an overnight market mover so if you have a requirement to buy or sell Australian Dollars in the near future it may be prudent to place a limit order or stop loss to either take advantage of a short spike or protect yourself from adverse market movement. Contact me for more details on how these options work.

Tomorrow morning does has the potential to be a big market mover although it has not been led to too much market volatility over the last few months. We have the Bank of England minutes out for the U.K which are from the last interest rate decision. The key will be if any members of the Bank of England have started voting in favour of an interest rate hike, for a long time now the vote has been all nine members of the monetary policy committee in favour of no change but with all the talk of interest rate changes coming closer will anyone have changed their mind?

In early afternoon Governor of the Bank of England Mark Carney speaks at 12:24pm so be very aware that investors will be hanging off of his every word so Wednesday for me has real potential to be the most volatile of the week.

For those tracking the New Zealand Dollar we have the RBNZ Interest rate decision out at 22:00pm and a small hike in interest rates is expected, if this happens be cautious of a little NZD strength overnight, if they do not hike as expected then we could see the Pound gain a little back. Again a stop loss or limit order overnight may be a sensible approach.

Thursday  Thursday morning is fairly busy once again with a flurry of services and manufacturing data out for Europe throughout the morning from 8:00am until 9:00am followed by U.K Retail Sales data at 09:30am. Expectations are for a small rise in Retail Sales but as you are all aware these releases don’t always come out as expected.

Friday Once again 09:30am is the key for those following Sterling exchange rates as we have GDP (Gross Domestic Product) data out for the U.K at this time. GDP measures the amount the economy has grown or shrunk within a specific period of time. This can be one of the most important releases of the month an again expectations are for a minor increase year on year but no revision to quarter 2.

All in all a fairly busy few days, so if you have a currency transfer to carry out involving any major currency it is well worth making me aware of it or giving me a call so I can notify you of any large market movements or so that you can secure these fantastic exchange rates so that the market does not have a chance to drop back away again if data is not too great.

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. You can email me directly on djw@currencies.co.uk and I will be more than happy to assist you.

 

 

Tomorrow to be key for Sterling exchange rates – Unemployment data and bank of England minutes

Daniel Wright

Daniel Wright

Tomorrow for me has real potential to be a big day for the U.K and indeed Sterling as we have the release of both unemployment levels and the bank of England minutes from their last interest rate decision.

Unemployment figures are not quite as important as they have been in recent months as the Governor of the bank of England Mark Carney has bought in numerous other parameters that may impact on an interest rate change however any alterations on the 7.1% figure will still have an impact on Sterling’s value.

At exactly the same time we will have the Bank of England minutes which will show what was discussed and how members voted at the last interest rate decision so be aware any surprises that come from this could also make for an interesting morning for the Pound.

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. You can get in touch with me directly by emailing me on djw@currencies.co.uk and i will ensure I get back to you personally. We pride ourselves on saving clients money over banks and other brokerages so for five minutes of your time it could save you an awful lot of money.

Pound Sterling exchange rates at brilliant levels once again!

Daniel Wright

Daniel Wright

Sterling exchange rates rose against all major currencies yesterday following Governor of the Bank of England Mark Carney speaking shortly after the quarterly inflation report for the U.K.

Carney, who is now getting a reputation for talking the Pound up compared to Sir Mervyn King who seemed to have an ability of making the Pound drop like a stone increased growth forecasts and spoke about the possibility of interest rate hikes and what would need to be met in order for him to start seriously considering hiking rates. In fairness to King he was in a much more dire economic situation than Carney, however for anyone looking to buy foreign currency with Sterling Mr Carney should be added to your Christmas card list at the moment!

As mentioned in my previous post I feel there is still a little risk of the flooding starting to weigh on the U.K economy which is one to be a little wary of if you are looking to buy foreign currency in the near future, however news yesterday can only be seen as good for the time being.

If you have a requirement either now or in the future to buy or sell foreign currency then is would be sensible to get in touch with me directly so that I can assist you both with the timing of the transaction and get you a great rate of exchange when you come to carry it out. I cannot ever directly advise you however with years and years of experience in the currency markets having me on your side should help to save you money.

Feel free to email me (Daniel Wright) directly on djw@currencies.co.uk with a description of your requirements and a contact telephone number and I will be more than happy to give you a call.