Tag Archives: exchange

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 Euro creeps down from 1.40 – Market poised on Federal Reserve decision tomorrow and RBA minutes confirm future interest rate cut is probable (Daniel Wright)

An interesting day on the currency markets for Sterling, seeing the rate come down from 1.40 against the Euro, finished the day in the mid 1.47s against the Dollar and ended close to 1.94 against the Australian Dollar.

Earlier this morning European inflation figures were one of the main drivers for a little Euro strength which has been an extremely rare occurrence over the past few weeks. This gave those looking to sell Euros a brief opportunity to achieve a slightly better price and showed again just how important it is to buy on spikes when they occur and not to get greedy and miss out.

There is every chance we may see the rate push back through 1.40 but it is key to remember that if you are buying Euros then you are almost already a whopping 10% up on the rate at the turn of the year so if you are in the process of buying a property overseas with Euros it may be prudent to at least lock in a portion of your funds as there are still plenty of issues that could bring the rate back down… One being the election.

If you are looking to buy or indeed sell Euros in the near future and you would like my assistance and to get not only award winning exchange rates but a high level of customer service then feel free to email me (Daniel Wright) directly on djw@currencies.co.uk and I will be more than happy to contact you personally.

Anyone in the position of selling Dollars will be pleased with the last few weeks movements as we saw the rate burst through the 1.50 mark for the first time in a few years. Tomorrow we have the Federal Reserve interest rate decision and monetary policy statement which will be a key indicator as to when the Fed may look to raise interest rates and could lead to quite a volatile evening for the Dollar.

For Australian Dollar followers the RBA commented last night in their latest meeting minutes that they would cut interest rates if they needed to in the future which suggests there is every chance of an interest rate cut and the Australian Dollar to weaken again in the coming months.

An interest rate cut is generally seen as negative for a currency and a hike in rates is generally positive and with exchange rates moving on speculation as well as fact even the slightest hint of a cut or hike can lead to quite a lot of market movement.

Tomorrow is an extremely busy day for those with Sterling to exchange to or from any other currency. We have the Bank of England minutes from their last interest rate decision at 09:30am and the budget at 12:30pm so be sure to keep a keen eye on the rates on and shortly after these times.

Once again if you have an exchange to carry out then I welcome all new clients and can generally get better exchange rates than any other company out there so even if you are already set up with a broker there is a good chance you can still save money. All you need to do to get in touch is email me (Daniel Wright) directly on djw@currencies.co.uk with a number and an explanation of what you are looking to do and I will make sure I get in touch.

Sterling Euro rate at best in nearly 8 years!

The Pound has spiked to levels that we have not seen since I started working here on this trading floor nearly 7 and a half years ago, creating a fantastic opportunity for those looking to send money overseas.

Anyone in the process of buying a property over in Europe has had a fantastic year so far and we are almost being surprised on a daily basis with the movements we are seeing.

If you are looking to make a purchase of Euros either now or in the near future then it may be sensible to get in touch with me directly to take advantage of movements we have not seen in years and years.

The mere fact that the U.K is considering and still discussing raising interest rates whilst we only just have the European Central Bank starting a QE (Quantitative Easing) plan just shows how far behind us in terms of recovery the Eurozone is and this has been well and truly shown in the rate swing.

With the election soon to gather pace in the media which will more than likely create political uncertainty this opportunity may not hang around for long.

If you are looking to purchase a property overseas this year and you want to take advantage of current buying levels then there is a great option available to you known as a forward contract. This useful contract option allows you to lock into a rate of exchange for anything up to a year in advance, paying merely a small deposit initially and then the balance on or before whichever date has been agreed, this is absolutely vita if you are working to a fairly tight budget.

Feel free to email me (Daniel Wright) on djw@currencies.co.uk and I will be more than happy to contact you personally to help with any currency transaction you need to carry out.

Sterling strength today following positive unemployment figures – The Pound hits over a seven year high against the Euro – Is this now the best time to buy Euros? (Daniel Wright)

The Pound shot up during morning trading and has continued to creep higher during this afternoon following much better than expected unemployment figures along with uncertainty over Greece still casting a grey cloud over the Euro.

The Greek debt agreement is now starting to feel like an old soap opera with us being left with cliffhangers over and over again without really seeing any real resolutions.

The latest I had heard earlier today was that Greece would be looking to request a six month extension on their debt deadline which will further delay a main resolution and will no doubt keep this saga continuing.

Those looking to buy a property within the Euro zone will currently have a huge smile on their face as buying €300,000 has now become £16,000 cheaper so the temptation to book something in now is hard to resist.

It is easy to forget that you do not have to book out all of your currency in one go, a mistake many people still make. If ever I have the need to make a large currency purchase I would split my requirement into two or even three chunks. The beauty of this is that you are eliminating a portion of your risk should the rate suddenly come back down yet should it creep up a little further you are still able to take advantage of it.

If you have Euros to buy or sell, or indeed any other major currency to exchange and you want the very best rates of exchange along with exceptional customer service then you can deal with me personally. All you need to do is email me (Daniel Wright) directly on djw@currencies.co.uk and I would be more than happy to contact you personally.

 

Do you find our site useful? Why not use us for award winning exchange rates as well??!! (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, Hargreaves Lansdowne and Transferwise. 

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

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

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

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

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

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

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

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

We look forward to speaking with you soon!

GBPEUR Forecast for this week

The UK’s General Election and any resolution in Greece would indicate the Euro stages a recovery. However Euro sellers should not expect major improvements since the problems in the Eurozone are deeply rooted, I think that any ‘solution’ will as always be a short term fix with the problems likely to resurface down the line.

As well as Greece there is key GBP news tomorrow!

Tomorrow’s Inflation data is significant since lately it has presented good opportunities to buy the pound.12 separate pieces of Inflation data will be released indicating the rate of which prices are rising (or falling). I personally expect the pound might decline as the Inflation data shows a decline too, this would indicate any interest rate hike is not so urgent. Getting the best deal is achieved through a careful mix of analysing the data and being able to react quickly. For assistance with any money transfers you might wish to consider please contact me Jonathan on jmw@currencies.co.uk

 

Pound Sterling Forecast – Upcoming data that may affect your exchange rate (Daniel Wright)

The Pound has had a funny week against most majors, remaining in the 1.34-1.35 range against the Euro, (albeit with some quite volatile moments) gaining ground back against the Dollar and pushing higher against the antipodean currencies (AUD,NZD,ZAR) even seeing the Sterling/Australian Dollar rate testing the level of 2.

One important matter that could really lead to an extremely lively start to the week is the issue with Greece. Whispers are that they are close to securing a debt deal which may bring a little certainty back to the Eurozone and confidence to the Euro, which in turn may lead to Euro strength at the start of the week.

Overnight on Monday night we also have the RBA (Reserve Bank of Australia) meeting minutes from their last interest rate decision which may give indications as to what the next move is and could really give the Australian Dollar  some fairly sharp movements out of hours.

If you have been waiting to buy your Australian Dollars at a rate of 2 then a limit order may be a sensible approach. This is where you can set an order to buy automatically if the achievable rate becomes 2 or better and can be really handy as data comes out from both economies day and night so it means that any sharp movements will be taken advantage of on your behalf. If you feel that this type of order may be beneficial to you then feel free to email me directly on djw@currencies.co.uk and I will be happy to get back to you personally.

Tuesday will bring inflation data for the U.K which has been a fairly important talking point for Governor of the Bank of England Mark Carney over the past few months as the figure continues to drop steadily with major thanks to falling oil prices. An even lower figure will possibly weaken Sterling off a little as concerns of deflation will no doubt rise and although yesterday Carney said in his inflation report that rates would not rise until at least 2016 this could still just concrete that thought a little more.

An interest rate hike is generally seen as positive for the currency concerned and a drop in rates negative so whenever an interest rate hike is pushed back you can see a currency drop in value.

If you are looking to exchange the Pound into any currency or exchange any currency back into Sterling then feel free to email me directly on djw@currencies.co.uk with a brief description of what you are looking to do along with a contact number and I will be happy to get in touch.

 

 

2015 so far and what may lie ahead – Currency market update (Daniel Wright)

‘A bird in the hand is worth two in the bush’

Sometimes it is more sensible to be content with what you already have rather than chasing something which is uncertain

With such great rates on offer at present – It is worth seriously considering locking into a rate of exchange now.

As can be seen above current exchange rate levels are absolutely fantastic for a number of major currencies, especially if buying Euros, Canadian Dollars, Australian Dollars or New Zealand Dollars – Or selling U.S Dollars.

With such great prices available it is always easy to continue to hold out for the rate to keep going but it is indeed key to remember that the markets generally tend to do whatever they need to in order to prove the majority wrong.

If you are looking to purchase a property overseas this year and you want to take advantage of current buying levels then there is a great option available to you known as a forward contract. This useful contract option allows you to lock into a rate of exchange for anything up to a year in advance, paying merely a small deposit initially and then the balance on or before whichever date has been agreed, this is absolutely vita if you are working to a fairly tight budget. Feel free register for free by clicking here and using my name (Daniel Wright) as a point of contact and I will be happy to call you to explain this in more detail.

Euro

2015 has been a great year for those looking to buy Euros with Sterling, even with a slight drop off over the past week or so.

With the European Central Bank recently introducing a huge QE (Quantitative Easing) program along with serious uncertainty surrounding Greece the Euro has taken quite a bashing.

With all of this going on it is very easy to think that this trend will continue, it might but I would be exceedingly careful as over the past few years the Euro has had a lot more thrown at it and managed to stand its ground.

If you have been a follower of the market for a number of years you will recall that during the whole European debt crisis the Euro actually managed to gain significant strength and European woes can actually have an effect on the strength of Sterling too.

I would also not be too surprised to see the Government or the Bank of England step in at some point in the future to try and weaken the Pound a little as such high rates against the Euro are very damaging to our exports of goods and services.

All in all we are very close to a seven year high to buy Euros so from my point of view the current buying level is seriously tempting.

Dollar

The Dollar had been on a great run of form and we had been looking to potentially break through the l level of 1.50 however in the past 24 hours we have moved away from that with thanks to both a slight recovery in oil prices and a member of the Federal Reserve last night commenting that he felt their QE program had stopped too early.

The main Dollar surge came straight after the QE program stopped in the States so if we did see a call to start it again then I would expect to see the Dollar Decline once more.

On the flip side of this, there is so much global uncertainty out there at present we are still witnessing a flight to safety and the Dollar appears to be the main benefactor as it stands.

Australian Dollar

The Australian Dollar has lost quite a lot of ground against the Pound since the start of the year which has been fantastic for those of you that have emigrated and have been waiting on the opportunity to exchange funds at a respectable level once again.

With a surprise interest rate cut and the Governor of the RBA Glenn Stevens seemingly still looking to have the Australian Dollar weaker than it currently is there is still a chance of seeing the rate get up close to 2 but beware as we have seen many a time in the past few months the Australian Dollar can bite back and when it does it is usually a fairly rapid and large surge of strength over a few days.

Canadian Dollar

Sterling has made solid gains against the Canadian Dollar as the Canadian economy has started to drop off a little along with low oil prices and a poor economic outlook. Many major banks now are predicting a bit of a slump in the value of the Canadian Dollar as their economy has to rely on non-export based growth a lot more which will not be easy.

I personally agree at present that there may be a little further for the Canadian Dollar to fall but as always beware of potential banana skins like the election which is due in the U.K that could quite suddenly lead to Sterling weakness.

Swiss Franc

Following the move from the SNB to lift the 1.20 artificial level against the Euro the Swiss Franc has made a slight recovery over the past week or so.

At one point the rate was over 25% lower than the start of the year and now it is less than 10% which just goes to show how much movement we have seen from this currency this year.

Personally I would not be surprised to see this recovery continue now however there have been mentions that the SNB still have a few extra fiscal policies up their sleeve so be extremely cautious and ready to move quickly in case we do see another major market swing.

Here at FCD we pride ourselves on not only award winning exchange rates but also on keeping clients fully up to date with market movements so that they can get on with their busy day to day business.

If you have a currency exchange to make throughout the course of 2015 and you would like us on your side then email me on djw@currencies.co.uk and I will be more than happy to contact you personally.

If you find these alerts useful then why not register with me for a free, no obligation trading facility by clicking here if you have not already done so to get a comparison against your current provider.

More is lost through indecision than a poor decision!!! Sterling at multi-year high against the Euro and multi year low against the Dollar (Daniel Wright)

Good afternoon and what a crazy week once again on the trading floor!!!

A very quick update from me as we are currently busier than we have been in a number of years!

The Euro has fallen well and truly out of fashion this week with thanks to the QE (Quantitative Easing) program bought in yesterday.

QE is generally seen as a negative for the currency concerned as we have seen previously with the U.K and U.S so this may weigh heavily on the Euro in the coming weeks.

The Dollar managed to briefly break the pivotal 1.50 level today and is now poised just above the 1.50 mark and I would not be surprised to see it potentially break through it mand offer a trading price of 1.50 at the start of next week.

If you are looking to buy foreign currency and you want the very best exchange rates then feel free to contact me directly and I will be able to not only save you money over your current provider but also ensure you get an exceedingly high level of customer service too.

Feel free to email me (Daniel Wright) directly on djw@currencies.co.uk and I will be more than happy to assist you personally.

 

 

Sterling exchange rates – Potential drop tomorrow morning to be aware of! (Daniel Wright)

Following on from an absolutely crazy end to last week the markets are starting to settle down again for Sterling against most major currencies as all eyes now appear to focus on what the European Central Bank will do on Thursday.

Talk of what may happen next with the ECB (European Central Bank) has been constant since the turn of the year and this may be the reason that the Euro has dropped off quite a lot against most major currencies.

The next key piece of economic for anyone either buying or selling the Pound in the coming days is the Bank of England minutes and U.K unemployment data, both due out tomorrow morning at 09:30am. Unemployment is expected to come out at  5.9% so any change to this may lead to volatility for the Pound. The minutes may be of greater interest as they will show what was discussed at the last interest rate decision and also how many members of the Bank of England voted in favour of or against an interest rate hike.

For a long period of time we have seen two members of the bank of England voting in favour of a hike and seven members against, and now that it is hard to see interest rates go up in the U.k this year you do start to wonder if one of the two members that were in favour of a hike now may have changed their mind?!

With an interest rate hike (or the mere speculation of it) generally being positive for the currency concerned if one less member is in favour of one then we may see the Pound drop in value against all major currencies.

If you are looking to carry out a currency transfer in the near future then I would be surprised if I could not get you a better rate of exchange than you are currently being offered along with a smooth and efficient service. If you feel that the site has been of use to you then feel free to email me (Daniel Wright) djw@currencies.co.uk directly with a brief description of what you are looking to do and a contact number and I will be more than happy to contact you personally.

 

 

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