Tag Archives: exchange

Pound Sterling exchange rates rise along with inflation figures – Rate hike edging closer? (Daniel Wright)

Sterling exchange rates have had a good day against all major currencies during trading today following following news that inflation year on year was now sat at 0.1% which was slightly higher than market expectations of inflation remaining at 0%.

This has now led to money in the city being piled on interest rate hikes for the U.K potentially being a little sooner than had been thought 24 hours ago. We would indeed need to see average earnings and unemployment figures for the U.K show an improvement over the coming months for this to really become a reality but should this happen then Sterling may be in for a good run of form.

i think the key in a situation such as this is to hedge your bets and protect yourself from any adverse market movements, as regular readers will be more than aware when Sterling does tend to look buoyant, more often than not something seems to come out to knock it straight back down again.

If you have a pending currency exchange to carry out then I would suggest splitting your requirement into chunks rather than leaving the full sum exposed. A lot of people do fall into the trap that they have (as an example £200,000) to exchange so they need to time booking it out perfectly. By splitting into two lots of £100k or even four tranches of £50k and doing it over a period of weeks or months, depending on how long you have to wait you can eliminate some of the risk whilst still leaving a healthy sum to take advantage of it all with.

If you need to carry out a currency exchange for a personal property transaction or a corporate exchange for your company then I can help you both in terms of getting not only the very top level of exchange rates but a smooth and efficient level of service too. Feel free to email me (Daniel Wright) on djw@currencies.co.uk letting me know exactly what your requirement is and I will be more than happy to contact you personally.

Commodity currencies have been extremely volatile since the devaluation of the Yuan over three consecutive days of trading last week. The lowered value of the Yuan points to decreased confidence in an economy which represents one sixth of the world’s population. As a result this is lowering forecasts for future global demand for commodities, which has hit currencies like the CAD, and AUD hardest. For more information and examples on how these currencies are expected to perform over the next few months and predictions on how they will weather the storm click here.

 

Sterling exchange rate news against Euro, Dollar, Australian Dollar, New Zealand Dollar and Canadian Dollar (Daniel Wright)

Sterling Euro

The Pound has been fairly range bound against the Euro of late however still remains over 10% up against the single currency since the turn of the year. A difference of over €15,000 per £100,000!!

Unemployment figures due out tomorrow morning at 09:30am will be key for the performance of the Pound during trading tomorrow. Figures are expected to remain at 5.6% and any change to this may cause a volatile start to the day.

Unemployment and average earnings figures are one of the key factors that will impact the Bank of England’s decision on when to raise interest rates so this data is extremely important.

Later in the week on Friday we also have European GDP (Growth figures) and inflation which will show us how much the economy within the Eurozone has grown or shrank during a specific period of time. Expectations are for a little improvement year on year so this may give the Euro a little strength, making it more expensive to buy.

You should at least make me aware if you do need to exchange soon as I can then act as your eyes and ears on the markets to try and ensure you do not get caught out if the markets take a turn for the worse. Also feel free to check out my section on forward contracts below. You can email me on djw@currencies.co.uk or call me on 01494 787478 if you do need to carry out a transfer soon.

Sterling Dollar

Sterling has also been fairly range bound against the Dollar lately as investors and speculators continue to second guess just when an interest rate hike may be coming for the States.

Every time it looks like all signs are pointing towards an imminent hike in interest rates the economic data released appears to dampen expectations due to not quite being as solid as has been expected.

Personally I feel we may see a rate hike before the end of the year but if I had Dollars to sell I would be tempted to exchange at least half of my requirement sooner rather than later as if the hike continues to be delayed then rates may creep back towards the 1.60 level once again.

U.S Retail Sales are due out on Thursday afternoon so this is a key data release to watch out for if you are in the market to buy or sell USD in the near future.

You should at least make me aware if you do need to exchange soon as I can then act as your eyes and ears on the markets to try and ensure you do not get caught out if the markets take a turn for the worse. You can email me on djw@currencies.co.uk or call me on 01494 787478 if you do need to carry out a transfer soon.

Sterling – Australian Dollar/New Zealand Dollar

We have seen fantastic buying opportunities for both of these currencies over the past few months as China finally starts to show the cracks of growing at such a monumental rate.

Chinese data out overnight weakened both of these currencies after they had staged a minor fight back.Governor of the RBA Glenn Stevens still appears content to see a weaker Australian Dollar and data out from New Zealand has not been particularly promising so I feel both these currencies have the potential to still drop further. If you are looking to buy either currency however then it is key to remain vigilant as both currencies have the potential to turn around their  trends extremely quickly and with great force.

Sterling – Canadian Dollar

After finally breaking 2 those looking to buy Canadian Dollars are also seeing a great opportunity compared to where this currency pairing has been sat for the past few years.

With oil prices seriously adding to the grey cloud currently hovering over the Canadian economy the outlook is fairly gloomy for the Canadian Dollar as it stands.

Once again though we do need to remember that it would not take much to see the GBP/CAD rate drop back below 2 should oil prices start to gather traction again so it is imperative that you keep a close eye on this pairing if you have an exchange to carry out.

Forward contracts

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.

IF YOU ARE READING THESE REPORTS AND FIND THEM OF USE THEN WHY NOT CLICK HERE TO REGISTER FOR A FREE, NO OBLIGATION TRADING FACILITY TO SEE JUST HOW MUCH YOU CAN SAVE OVER YOUR BANK AND CURRENT BROKER. IT TAKES JUST TWO MINUTES TO COMPLETE AND MAY SAVE YOU £1000s!

Pound Sterling exchange rate forecast – Unemployment is key for exchange rates this week (Daniel Wright)

We have a reasonably quiet week ahead for U.K economic data with in my view the most important being on Wednesday morning at 09:30am where we see the release of the U.K unemployment rate, expected to remain at 5.6%.

Unemployment and average earnings figures are one of the key components in the Bank of England’s decision as to when they may hike interest rates and with news on Thursday that still only one member had voted in favour of a rate hike those looking for Sterling strength will need to see an improvement in these figures to give the Pound a boost back in the right direction.

Later in the week we have U.S Retails sales figures (Thursday) and European GDP (Growth figures) due out on Friday which I would expect to have an impact on the value of the Dollar and Euro.

All in all a fairly quiet week on the markets but as regular followers will know, it is fairly rare that surprises do not pop up so it is important that if you have a currency transfer to carry out in the near future that you keep in close contact with a proactive and efficient currency broker.

If you would like me on your side for your future currency exchange then I would be more than happy to help you personally, I deal with clients exchanging anything from £2000 to multi million Pound transactions and will be happy to add you to my list of clients.

All you need  to do is email me (Daniel Wright) on djw@currencies.co.uk and I will be more than happy to give you a call to explain the various options we have available to you.

Do you want to get the most for your money when exchanging currency? Contact us today!!

Here at Pound Sterling Forecast we pride ourselves on keeping you up to date with the latest market movements but in case you didn’t know we all work for an award winning currency brokerage too.

Feel free to get in touch with us today by filling in our rate quote form and get yourself a free, no obligation quote on your currency.

For the sake of less than a minute filling in a form it may save you hundreds or even thousands of Pounds – Especially if you have used a broker for years or have an online platform you buy from (essentially a robot that will not negotiate your rate like we will), you should always compare with us as we would be confident that we will save you money.

We look forward to hearing from you soon.

What can you do on pound sterling exchange rates this week?

Sterling is performing well as UK GDP pointed to further improvements in the UK economy and we get back to pre-crisis levels. The unbalanced recovery is a concern and it appears unlikely the pound will just keep rising!

With the uncertainty surrounding Greece now removed from the market attention has shifted to wider concerns on interest rates and economic recovery. Personally I cannot see the UK raising interest rates any time soon but the pound appears likely to reach to the data as it has done in the last week.

I think it is really important to understand your options when buying currency with us so here is the information!

1 – Store currency safely in a client account. You don’t need a foreign bank account to buy foreign exchange with us! You can buy Euros and we can keep them here until you need them sending out perfect for business or overseas property investors who don’t yet have a foreign bank account. You can split payments too. eg buy 200k euros and send out 20k euros for deposit leaving remainder here until a foreign bank is open or you need sending out. This means you can buy whilst rates are good not just when you need the currency or have opened a foreign bank account.

2 – We can offer a forward contract to fix today’s rates for up to one year in advance useful for business and anyone buying a large volume of currency. You pay a deposit and choose how far forward. Eg you could fix 300k euros for 3 months and draw it down after 8 weeks if you needed them earlier. Again you don’t need a foreign bank account open to buy with us and can buy or lock in to a price whilst rates are good.

3 – Limit Order’s target a rate you wish to buy currency at in the future. eg 1.60 on GBPUSD. You give us a firm order and we place it into the market. Once the rate is achievable we buy at your desired rate.

If you need to buy or sell the pound understanding all of your options and what is going on in the market is the best way to minimise your exposure. For more information at no cost or obligation please speak to me Jonathan on jmw@currencies.co.uk. Just email a quick outline of your position and your situation and I can hopefully offer some useful information to help you get a better deal.

I look forward to hearing from you!

 

Pound makes gains following growth figures this morning (Daniel Wright)

Sterling has had a fairly solid day against most major currencies after growth figures released this morning confirming that the economy had grown a little more than expected during the second quarter of 2015.

The U.K has indeed now seen 10 consecutive quarters of economic growth and chancellor George Osbourne has also commented that the economy is indeed ‘motoring ahead’.

This is great news for those looking to buy foreign currency in the coming weeks and months but also a little worrying for anyone with currency to exchange back into Sterling at some point soon.

Tomorrow is the next big point of note for the markets as we have the Federal Reserve interest rate decision due out in America at 7pm BST and this can have an impact on all major currencies as it has an affect on global attitude to risk. Should we even see the hint of an interest rate change coming up for the States the Dollar may gain strength and markets may well move around quite a lot overnight.

There are contracts that we offer that can help protect you from adverse market movements or to take advantage of a spike in your favour without needing to be available 24 hours a day. Feel free to email me (Daniel Wright) on djw@currencies.co.uk and I will be more than happy to have a no obligation and confidential discussion to explain how I may be able to help you.

Do you enjoy our market information? Just in case you were not aware then we can actually help you with currency exchange too! (Daniel Wright)

It has now been over 5 years that we have been consistently updated this site with market information and non biased forecasts on how we feel the Pound may perform against most major currencies in the future.

We now have over 100,000 unique visitors to the site and I thought it would make sense for me to remind you all that we can indeed assist you with currency exchange too.

All of the writers on this site including myself work for an award winning currency brokerage with a turnover of half a billion pounds worth of currency a year. So far we have had thousands of new clients contact us looking for a better deal than their bank or current broker and we have been only too happy to offer them both a better rate of exchange than than they have been offered elsewhere but also a much more efficient and proactive service.

If you transfer currency on a regular basis or you have a one off larger transaction to carry out either for your business or to buy an overseas property then it is well worth contacting us.

Feel free to fill in the form on the right hand side of this page and one of our friendly and helpful brokers will call you personally to discuss the various options available to you. We deal with transfers ranging from a few thousand pounds to multi million pound deals, we have tens of thousands of regular clients ranging from pensioners that live in France to Premier League footballers so can cater for anyone.

If you would like to speak to me (Daniel Wright) the creator of the site about a specific requirement then feel free to email me on djw@currencies.co.uk and I will be happy to get in touch.

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.

GBP/EUR Rates hit highs of 1.435 (Joshua Privett)

While Greece has agreed to the current terms of the bailout, we are still waiting for the treaty to be ratified by other European governments before it can be confirmed, which is why the rates are currently still climbing. People are nervous about Britain’s current objections towards providing loans, and many in Germany are still advocating that Greece temporarily leave the Euro zone until they recover. So the potential Grexit, and by association the Euro, are not out of the woods yet.

This is an issue that will continue over the weekend and into next week. There is potential for even greater rates to be made available before the inevitable correction once the bailout passes through the various levels of the European parliament.

To take advantage of a specific economic event, you can put a limit order into the market which will buy your currency when it hits a particular rate, even for a few moments. Or a stop loss order to buy your currency if it drops a cent following a solid ‘agreekment’ and you want to buy before it drops any more. Email me on jjp@currencies.co.uk to discuss how to implement this overnight, and make sure you buy at the absolute top of the markets. 01494 787 478

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