Tag Archives: exchange

Sterling slips to start off the week as Brexit concerns weigh on the Pound – RBA to change rates in Australia tonight? (Daniel Wright)

Sterling exchange rates have had a fairly bad day against most major currencies, while many brits have been spending their bank holiday sorting out the garden.

It appears that a few Brexit concerns are creeping back into the market and without London markets being open to defend the Pound it has dropped off against the board.

I still feel that Sterling is going to have a good May and that although it is an easy pitch for many to say that the Pound will crumble I think we may start to see the remain campaign start to edge closer to victory as those in the leave campaign still have failed to be able to offer a firm and solid answer as to what would happen if we left. The truth is of course nobody knows and they will not know until they have negotiated so voting to leave will be a gamble and I feel a lot of people are starting to realise this.

The U.S economy has started to drop off a little giving the Pound a good boost against the Dollar and overnight tonight we have a key moment for the Australian Dollar. Later on we have the RBA Interest rate decision and although it is doubtful that we will see a cut in rates you cannot rule it out. Should we see a cut for Australia then the Australian Dollar may weaken off quite a bit overnight.

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. We can cater for people inside our outside of the U.K and carry out bank to bank transfers.

All eyes on the European Central Bank this Thursday -Sterling exchange rates in form today (Daniel Wright)

Following another positive day for Sterling exchange rates against most major currencies, it does appear that the Pound is slowly coming back into fashion.

We had very little in terms of economic data out today however there does appear to be a feel good factor surrounding Sterling this week so far. With the Government hell bent on having the U.K remain in the EU I feel that this is what will end up happening and that the markets are starting to correct themselves a little accordingly.

All eyes will no doubt now be on head of the European Central Bank Mario Draghi on Thursday as we have the European Central Bank interest rate decision and press conference at 12:45pm and 13:30pm respectively.

THis release can impact all major currencies and last time we had the ECB press conference, GBP/EUR moved by over 4 cents throughout the afternoon so expect market volatility on Thursday. A 4 cent movement would mean buying €100,000 would cost you an extra £2400 or get £2400 cheaper if it goes the right way for you.

It is highly important to have a proactive and efficient currency broker on your side during releases such as this and we can help you on that front. We have a range of contract options available including a limit order where you can set a particular rate you wish to buy at, and if you do get a sudden spike then it gets bought automatically.

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. We can cater for people inside our outside of the U.K and carry out bank to bank transfers.

What can we expect this week for the pound? (Jonathan Watson)

Jonathan speaking on BBC NEWS 24 in February

Jonathan speaking on BBC NEWS 24 in February

Great British Pound (GBP)

Important news this week for sterling is  Unemployment data on Wednesday which is expected to remain stable at 5.1%, this has been one of the key strengths of the UK economy, if the predicted rise in average earnings from 2.1 – 2.3% rings true sterling could be in for a good day on Wednesday! Thursday is Retail Sales figures which are always a volatile release and can impact markets, if you don’t see the sterling move you are looking for on Wednesday then this could be the one to watch.

In summary sterling should remain in a better position this week, the pound has slipped in recent weeks but found some form last week with better than expected Inflation data and better news concerning the government. David Cameron’s dreadful previous week was recovered from the worst points and a particular damning report by the Treasury on the Brexit has reconfirmed the governments position potentially further aiding the Remain camp. I expect this report and better UK data to help give the pound a lift by the end of the week but a lift that will be rather fragile when we (and financial markets) take into consideration the Referendum only 9 weeks away!

EURO (EUR)

A fairly tame start to the week with some Construction and Current Account figures gives way to a busy end of the week as Friday sees Manufacturing and Services data for the Eurozone. Thursday is the key date for the Euro however as we have the European Central Bank decision and Monetary Policy Statement. The last meeting saw almost 4 cents movement in the afternoon and whilst I don’t expect quite the volatility this is usually a volatile time as markets digest Mario Draghi’s assessment of the Eurozone. Following the ECB bazooka of low interest rates and QE last month Inflation has risen which should give Mario Draghi cause for cheer and possibly help the Euro rise.

In Summary the Euro looks set to remain strong but might lose some ground to a stronger pound on Wednesday. Thursday is the key date so if you need to buy Euros moving before Thursday might be sensible, GBPEUR buyers have received almost 3 cents improvements from the lows of April which given the uncertainty ahead should not in my opinion be dismissed too easily.

United States Dollar (USD)

This week is a range of mid tier releases in the US focusing on Housing Starts (Tuesday), Home Sales data (Wednesday) and Jobless Claims (Thursday). The dollar had weakened on the news the Fed were resigned to just the two rate hikes this year but has now found traction again. Two hikes is better than none and with the UK stagnating and the Eurozone still focused on ‘easing’ measures the dollar is still top of the class.

In summary there remains a good chance that the dollar will strengthen further against the pound longer term but this is sterling’s week. If you need to buy dollars with the pound taking advantage of any spike this week is I believe the best way forward.

Do you have a currency transaction to consider involving the pound? If so this week could see a return to favour which given the Referendum ahead is I believe something well worth taking advantage of! For more information on events to be aware of surrounding your currency transaction please contact me Jonathan Watson on jmw@currencies.co.uk

 

 

Will The Pounds Rally Continue? (Daniel Johnson)

Sterling has rallied against most major currency pairings after the release of better than expected Consumer Price Index (CPI) figures. CPI is a measure of inflation and is a key barometer as to the health of an economy, a rise is seen as positive. GBP/EUR briefly hit 1.26 and we have seen a slight drop since, currently sitting in the low 1.25s. Whether you are purchasing EUR,AUD,CAD or USD I feel it may best to take advantage of current levels. The key factor in any Sterling trade is the EU referendum, current polls show 52% of the UK population are in favour of a “Brexit”. If the UK were to leave it would be catastrophic for the UK economy, with trade relations put under sever strain which will severely decrease UK exports.

HSBC recently predicted GBP/EUR could hit parity if an exit takes place. Cameron is clearly concerned spending $9.2m on leaflets, which may not have the impact he hopes due to his credibility taking a knock after the “panama papers” release. The International Monetary Fund (IMF) have now cut the UK’s economic growth forecast from 2.2% to 1.9%. Sterling could plunge in value if there is an exit, if you are selling the Pound, procrastination could prove very costly. The safe option is to move before June 23rd.

If you have a currency requirement I will be happy to assist.  I specialise in property and commercial trades and I am in a position to undercut high street bank’s exchange rates by up to 5%. If you would like to get in touch for a free quote you can contact me at dcj@currencies.co.uk. Thank you for reading my blog and I look forward to hearing from you.

If you would like to find out more about the company I work for please why not visit our website www.currencies.co.uk.    

Sterling exchange rates crumble further as Brexit concerns still hang over the head of the Pound (Daniel Wright)

The Pound has taken yet another bashing in trading over the last 24 hours and my confidence in a recovery is starting to be seriously tested.

We even saw industrial and manufacturing data coming out as negative on Friday morning and in my view should we start to see a big push back up in the direction we need a catalyst and so far that just has not arrived.

The next big data we have out for the U.K is a flurry of inflation data due out on Tuesday morning. Further negative news may lead to yet another tumble but a positive release could finally give those that are looking to buy foreign currency the lift they are waiting for.

The issue for the Pound at present is uncertainty, both in a political and economic sense. The referendum is not only causing investors and speculators to leave the Pound alone as they do not know what our economy will be facing shortly, but it is also causing our politicians to fight between themselves and this is also bad news for a currency.

All in all I still believe that against the grain there is room for the Pound to improve in the coming weeks, however the catalyst does need to arrive and fast.

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.

Sterling exchange rates – Rounding off the week (Daniel Wright)

So after a fairly quiet week on the markets I thought I would round up what we have left to look out for that may impact Sterling exchange rates.

For anyone with an interest in Euros, tomorrow morning may be the most important remaining data of the week as we see European inflation data out at 10:00am. Expectations are for a minor drop year on year which may lead to a little Euro weakness in morning trading tomorrow.

For anyone with an interest in Sterling exchange rates against any major currency it is well worth noting that Governor of the Bank of England Mark Carney is due to speak outside of hours at 8pm and any hints on future economic policy may lead to the Pound moving around a lot overnight.

Also overnight for anyone that is looking to exchange Australian Dollars you should be aware that we have Chinese manufacturing data out late at night which will no doubt impact where the Australian Dollar kick starts the day on Friday morning.

When there are big overnight releases such as these it is important to know there is a contract option available known as a limit order. A limit order is a market tool which is completely free and means that you can set a target rate that remains in place 24 hours a day unless you say otherwise and if it becomes achievable then our smart computer systems will buy the position for you. These orders can be canceled or amended at any time should they have been triggered and are really handy if there is a rate you are looking for that is within reach but not quite there yet. For more information on these handy market orders or to get a quote on a currency exchange please do feel free to contact me(Daniel Wright) by emailing djw@currencies.co.uk and I will be happy to contact you personally.

Finally on Friday we have Non-Farm Payroll data at 13:30pm 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 are using a broker or your bank and you aren’t getting the attention you feel you should be surrounding your currency transfer, or you feel you may be able to get a better rate of exchange than you are currently receiving then please do feel free to get in touch with us for a direct comparison.  You can email me (Daniel Wright) the creator and owner of this site directly and I will deal with you personally if you so wish djw@currencies.co.uk or fill in the enquiry form on this page and one of our experienced currency brokers will call you straight back.

Sterling exchange rates steady ahead of key inflation data tomorrow (Daniel Wright)

The Pound has been fairly range bound against most major currencies today, with economic data being fairly thin on the ground for the market to feed off of.

Overnight tonight we have the RBA (Reserve Bank of Australia) governor Glenn Stevens speaking about the Australian economy which may lead to a big impact on the Australian Dollar by the time we come in for trading first thing tomorrow morning.

We will no doubt hear about plans for the Australian economy and any mention of a change in interest rates will lead to volatility tonight.

Tomorrow we only really have one main talking point on the cards for the U.K and for Sterling and that is inflation data. At 09:30am we will have a flurry of inflation data  which will be the key talking point for the rest of the day. Expectations are for Core inflation to remain at 0.3% and should this remain the same we may be in for another quiet day.

The key really will be if we see any changes to the predicted 0.3%. Should inflation have climbed then we may see a vast boost for the value of the Pound however should it have dropped to 0.2% then Sterling may struggle for the rest of the week.

Inflation is one of the key factors that are considered for an interest rate change and should this be a little higher it should heighten the chance of a rate hike for the U.K which is seen as a positive for the Pound.

If you are looking to carry out a large currency exchange in the coming days, weeks or months then it is well worth getting in touch with me personally. I can help you get a better rate than other brokerages and on top of this ensure that you get a smooth and efficient service too. Feel free to email me (Daniel Wright) on djw@currencies.co.uk with a description of what you need to do and I will be more than happy to get in touch with you personally.

Federal Reserve lower their previously positive tones – Budget leads to minimal movement (Daniel Wright)

So the budget was virtually a non event in currency terms, just as I had previously predicted which is usually the case unless any large surprises pop up that have not been leaked already.

The bigger market mover today was the Federal Reserve interest rate decision over in America which has led to Dollar weakness and a little strength for the Euro.

The Federal reserve dampened down their previously positive outlook. The main reasons behind their more slightly dovish tones was due to market developments and the global outlook still posing a risk.

An interest rate hike is generally seen as positive for the currency concerned and a cut in rates negative, so now that it appears that we may not be seeing such a series of hikes for America we have seen the Dollar weaken off, making it more expensive to buy.

On top of this, for anyone with an interest in Euro, with Euro/Dollar being the most traded currency pairing in the world if we see either of these currencies weakening then the other tends the gain strength, this is why GBP/EUR dropped back into the 1.26s this evening.

If you have a currency exchange coming up involving buying or selling GBP, USD, EUR or indeed any other major currency then it is well worth getting in contact with me directly so that I can help you both try and time your exchange and also to ensure that you are getting the most on your exchange rate when you do decide to book your currency out.

You can contact me (Daniel Wright) the creator of this site directly on djw@currencies.co.uk with a brief description of your needs and I will be more than happy to call you or email back personally. Please note that we deal in bank to bank transfers only and cannot assist with holiday money.

Sterling exchange rates – A volatile day to say the least (Daniel Wright)

Well I had mentioned at the start of the week that today would be the day to watch out for and it certainly did not let us down.

I started the day with a full order book of clients wanting particular rates of exchange and a large majority of them managed to achieve just what they were looking for.

The GBP/EUR rate had a high/low range of over three cents, GBP/USD 2 cents, GBP/AUD and GBP/NZD almost 4 centsand GBP/CAD almost four and a half cents.

The European Central Bank was the main focus and from the interest  rate decision at 12:45pm onwards the market went completely bonkers.

The ECB actually made a cut to deposit rates and added the their QE program, this led to Euro weakness for a short period of time, in all honesty it did then look like this may be the trend for the rest of the day…. then head of the European Central Bank Mario Draghi started to speak at his press conference.

Draghi came out with extreme confidence in how things are going and shocked the markets by confirming that he did not feel that anything further would be needed after this latest move. These comments led to a huge turnaround for Euro exchange rates and the Euro managed to claw back three cents in a could of hours which is a huge disappointment for those looking to buy an overseas property or businesses looking to purchase goods from Europe in the coming weeks or months.

Because of the huge surge for the Euro, a lot of money came out of the Dollar so the Dollar weakened quite significantly as EUR/USD is the most traded currency pair in the world.

On top of this, we saw a huge impact for the commodity currencies as global attitude to risk altered and the AUD, NZD and CAD all weakened off, creating a great opportunity for anyone looking to send money over to these countries in the near future.

Tomorrow should be a little quieter on the markets as there is a lot less out in terms of economic data but you must be aware that the market is always open to a surprise or two popping up.

Here at Pound Sterling Forecast we do not only help clients with market information but all of us work for one of the largest currency brokerages in the U.K. We like to work on behalf of our clients and generally act as their eyes and ears on the markets, whilst ensuring that we get them access to the highest level of exchange rates hat we can. It is extremely rare for us not to significantly better a banks exchange rate or to beat any other brokers exchange rate and we like to think our customer service is second to none.

We have a range of contract types inclusive of a forward contract, limit order and stop loss contract to suit your needs, all of which at no extra cost to you.

If you have a currency exchange to carry out in the near future involving buying or selling the Pound, no matter if you are in the U.k or not then it is well worth getting in touch with me (Daniel Wright) personally. You can call me during our trading hours of 08:30am – 18:00pm or email me directly on djw@currencies.co.uk with a description of your needs and i will be happy to get back to you as soon as possible.

 

Pound Sterling claws back ground against the Dollar, remains steady against Euro and drops off against New Zealand Dollar and Australian Dollar (Daniel Wright)

Sterling exchange rates have had a mixed day on the markets during a week where in general things have been fairly positive.

I wrote an article last Friday on why I feel we may see Sterling Strength in the coming weeks and so far, asides from having a struggle against the AUD and NZD my thoughts have been correct.

There will no doubt be drop offs along the way with the potential of a brexit hanging over the head of the Pound however the economy is in a much better position now than it has been when we have seen large bouts of weakness in recent years.

We need to remember that although the U.S economy is in a fairly strong position they also have their uncertainty however in a political sense with the media hype surrounding the election over there.

Tomorrow we have Non Farm Payroll data for the States which can have a large impact on all major currencies as it can have an effect on global attitude to risk. The data release measures the number of people in Non-agricultural employment and predictions for it can be quite a way out so be prepared for a bout of volatility at around 13:30pm Friday lunchtime.

if you are looking to exchange foreign currency in the near future and you would like to have an experienced, proactive and helpful broker on your side that can not only access the very top exchange rates but also ensures you get a smooth and efficient service then feel free to get in touch with me directly.

I created this site 6 years ago to help clients keep a track of the markets but also welcome new clients getting in touch to see if I can assist with foreign exchange for their business or for buying or selling a property overseas. You can email me directly on djw@currencies.co.uk with a description of your needs and a contact number and I will ensure I get in touch with you to discuss your requirements.