Tag Archives: exchange
Many Market Movers in May! Can sterling go higher?
As we approach the halfway point of the month we see the pound holding some of the gains we have witnessed in April but still very much under pressure! Unfortunately there is very little on the horizon to indicate significant further gains this month. If you are selling pounds to buy another currency holding out for further gains could be very risky, current levels should not be easily dismissed. Here are some of the key thing to note if you are buying or selling which may affect your rate.
If you would like more information on a particular subject or on events surrounding your particular transfer please speak with me directly on jmw@currencies.co.uk
Will the UK leave the EU? Expect pressure on sterling due to political uncertainty. Markets and investors want certainty in their investments. Fears of the damage a split Tory government, the rise of UKIP and a broken coalition would do to UK business weighed on sterling yesterday. Can Cameron tackle the ghost of conservative past and deal with the question of Europe? It is doubtful I have to say and this will weigh down the pound.
UK Growth Last months data was impressive and welcome but 0.3% is not anything to get too excited about. True the latest data sets have all been positive but the marginal improvements on what were dire figures still have a long way to go. Ultimately the UK’s stagnant housing market (particularly outside London) needs invigorating – Construction is the main drag in recent years. The second revision of growth figures at the end of the month could easily be a market mover.
Depending on which currency pair you are trading there will of course be many other things to move the market. Looking in my crystal ball (which has been pretty clear lately) I cannot see significant gains for GBP against the majors. Maybe a cent or two? Once again I see more danger of things dropping as the confidence of the last few weeks wears off.
If you have a transaction to consider I would be interested to speak to you explain the market and offer our services with a view to getting you the best deal. For more information please email on jmw@currencies.co.uk
I look forward to hearing from you!
Pound Sterling exchange rates – Once again Thursday is the day that may be key (Daniel Wright)
Sterling exchange rates have been reasonably static lately against the major currencies however tomorrow has the potential to be quite a market mover.
We have Australian unemployment figures out overnight tonight followed by Industrial and manufacturing production figures for the U.K tomorrow at 09:30am. The unemployment figures have the potential to shift rates against the Australian Dollar and the production figures may affect the Pound against all majors.
Most importantly we have the Bank of England interest rate decision and any further news on more Quantitative Easing will be extremely key. For those of you that have follwed the market over the past few years it seems that every time Sterling is performing well and heading into the right direction the Government or the Bank of England step in and do something to knock it back down again so you must be aware this is the perfect time for them to do so.
Should tomorrow pass without any surprises I think the Pound may be set for another positive month now that the potential recession is out of the way and focus has turned to other troubled economies hopefully Sterling will become a currency of choice once again.
If you have an upcoming currency transfer involving buying or selling the Pound then feel free to contact me directly as I can assist you with not only getting the very best exchange rate but also a full round service of making the transaction as smooth as possible. If this sounds of interest then please email me directly djw@currencies.co.uk with a brief description of what you are looking to do and I will be more than happy to assist you.
What will happen next week on sterling exchange rates?
An excellent run of form for sterling has seen us hit a 15 week high against the euro and 11 week highs against the US dollar, Australian dollar and Canadian dollar. Is this going to get much better or has this rally run out of steam?
I think that this rally has run out of steam but that does not mean rates are going to just crash back down. Sterling has been given a boost by the improved GDP stats (0.3% growth for Q1) which removes some of the more immediate concerns regarding sterling. In order for the pound to press on we need to see more positive data and next Thursday could be a trigger with Industrial and Manufacturing data plus the NIESR (National Institute of Economic & Social Research) estimate of GDP for April.
If you are considering moving sterling in the next few weeks next week could be fairly pivotal in shaping the future direction for sterling. It is important not just for sterling but due to the releases affecting other currencies. Here is a quick run through of a couple of things to beware of on rates next week.
EURO – Mario Draghi and the ECB (European Central Bank) are giving a couple of speeches next week including the ECB Monthly Report. There was a story today that the ECB were playing down speculation yesterday rates may be cut further. If any such bold statements are made I expect the Euro to strengthen, but not by much.. The Euro is in the firing line right now. If you are considering any GBPEUR or EURGBP transfers in the future please feel free to contact me for a forecast specific to your requirements. jmw@currencies.co.uk
USD – An improved employment outlook for the US today helped the USD to strengthen against sterling but unless the pound comes under pressure I expect GBPUSD to push higher. A speech next Friday by Chairman of the Federal Reserve Bank in the US, Ben Bernanke could be crucial.
AUSTRALIAN – The Reserve Bank of Australia meet for their monthly meeting next Monday evening where they decide on economic policy. The statement after their meeting may be more indicative of policy as no change is expected. Next week we also have Australian employment data which could move rates. On the whole I expect rates to remain good for buyers, sellers of AUD to buy GBP may wish to move sooner if they don’t see improvements.
Our service is designed to save people money on their currency exchanges. This is not just through offering better rates than the banks and other currency brokers, but by assisting with the actual timing of your exchange. Even if your transfer is just a one off we can help guide you through the process of moving money internationally at the very best rates.
Even if your transfer is not required for some time we can forward book rates for a small deposit. For more information on the services and to make a comparison or register an alert for certain trading levels, please contact me Jonathan directly on jmw@currencies.co.uk
Thank you
Pound Sterling exchange rates against the Euro – Will we see an interest rate cut today? What effect will it have? (Daniel Wright)
Today is a big day for Europe as we may potentially see an interest rate cut which could lead to further weakness for the Euro.
Exchange rates for the pound against the Euro have remained fairly steady since the big push up following the issue in Cyprus however today has the potential to move rates onwards and upwards once more.
Of course, with so much speculation that this is going to happen there is a huge risk that if we do not see a cut in rates then we may see the Euro gain a little strength quite rapidly as the markets correct themselves – If you have a pending transfer to carry out involving buying or selling the Euro then it is key that you are ready to act fast.
If you would like me to get in touch personally following the decision then feel free to email me djw@currencies.co.uk with a brief description of what you are looking to do and a contact number for me to call you on.
We also have some construction figures for the U.K this morning which could give a nod to how the second quarter started for the U.K in 2013 -This could affect the Pound against all major currencies – We are currently at an 11 week high to buy the Australian Dollar and Canadian Dollar which does lead to a great temptation to buy these particular currencies in case we see nthe rates slip back down again.
Personally I think Sterling confidence is up and the Pound may well start to creep in the right direction as I have been saying since the start of this year, however you must also be aware that the pattern tends to be that as soon as Sterling looks like it is finally about to push on something comes out to knock it straight back down again.
If you want to achieve the very best exchange rates, or even to ask me if the rate you are being offered is good before you accept it then feel free to get in touch with me directly – You can contact me by email djw@currencies.co.uk or call me directly on 01494 787 478 during U.K office hours, please ask for Daniel Wright.
U.K GDP figures better than expected!
Wow, what a busy day on the markets and indeed on our trading floor following much better than expected GDP (Gross Domestic Product) figures released for the U.K.
The Pound has gained against all major currencies as figures released were much better than expected coming out at 0.3% growth instead of the expected 0.1%.
This has provided a great buying opportunity for anyone looking to buy foreign currency – If you have a pending currency transfer to carry out then feel free to call me immediately djw@currencies.co.uk with a brief overview of your requirement and a number for me to call you back on. We specialise in getting the very best rates of exchange for bank to bank transfers so it is worth sending a quick email over for a comparison against your bank or current provider, we may save you hundreds if not thousands.
Why not join our mailing list too, I keep clients fully up to date with market movements and offer an extremely proactive service ensuring you can get on with your busy day without having to worry about what is happening on the market – we do that for you.
Once again, djw@currencies.co.uk is where you can make an enquiry – I look forward to hearing from you.
The most important issue regarding pound sterling rates at present! How to get the best exchanges rates
The pound had been one of the worst performing currencies of 2013 until a few weeks ago when it bounced back from the very worst levels. The answer to the question of is the worst really over will be evidenced next week in the form of GDP data. Gross Domestic Product is a measure of the output or growth in the economy and is a key factor in determining the strength or weakness of sterling.
What strategy should I adopt for buying or selling the pound?
If you are selling a foreign currency to buy pounds and you are keen to take a risk it may be worth waiting until next Thursday as there is an outside chance you could see much better levels by 2 or 3 cents. If you are not keen to risk then I would tee things up a bit sooner as it is probable the pound may become more expensive. Please note if you are considering any exchanges and would like to run through your options please speak to me directly on jmw@currencies.co.uk
The consensus among commentators seems to be that the UK has avoided the triple dip recession. This would mean that it is likely the pound will strengthen next Thursday. However because this expectation is quite high, if for any reason the data is bad we could see a big fall for the pound. Markets often move ahead of the event too, so it can be argued the pound is stronger lately due to this expectation. It is also true the pound is stronger due to events in Cyprus, money has moved out of Europe and despite all the economic woes for sterling, found its way to the relative safe haven of the UK.
If you are selling pounds to buy another currency then it may be wise to see how the data comes out next Thursday. This is because the pound may strengthen by a cent or so against most currencies. It is impossible to say exactly what will happen so the best way to ensure you don’t lose out unnecessarily is to register an interest with me so I can keep an eye on the movements for you. Rates can move up to one or two cents per day and on big volumes of currency this can become very costly.
If you are weighing up whether or not to sell or buy pounds and hoping for slightly more on the rate, then the outcome of this decision next week is key. You can be made aware of all your options and run through any ideas on what you feel may happen by speaking directly with me on jmw@currencies.co.uk
The authors of site are specialist currency providers who can offer much better rates than the banks and other sources. We also offer assistance with the timing of your exchanges and providing forecasts. Ultimately no one can tell you exactly what will happen, but our expert knowledge of what drives rates and guidance on the processes involved will ensure you make an informed decision.
Please contact me Jonathan Watson personally on jmw@currencies.co.uk for more information at no cost or obligation.
I look forward to hearing from you and personally assisting you, thank you
Sterling exchange rates – What has Cyprus meant for the Pound against the Euro, Dollar and other major currencies?
The trading floor here is absolutely manic today as it has been for the past week or so mainly thanks the the on-going tale of events over in Cyprus.
Quite simply how can you be comfortable now holding more than €100,000 in an account in a bank withing one of the more troubled economies – realistically you can’t!
The Sterling – Euro exchange rate has been up and down like a yo-yo of late and with news of a potential credit rating downgrade for the U.K by Fitch on Friday evening it did look like the week may start off on the back foot for Sterling unless something major came from Cyprus.
Sterling has indeed lost ground against a number of major currencies but has also gained against those linked to the Euro after events unfolding today.
The Cypriot issue has no doubt created a huge problem for banks all over Europe and in my view is absolutely ridiculous and personally I feel it will now hold the Euro back from gaining too much strength in the near term. For those of you looking to buy Euros in the near future there should be some great buying opportunities coming up however do not make the classic mistake of getting too greedy, in my experience it is always the clients that hold out for that little that seem to end up actually losing out.
If you would like to be informed of any spike in the market then feel free to email me directly for a spike alert djw@currencies.co.uk - just last week a client got in touch with me requesting this, I emailed and called him when the market shot up and then got him a much better rate than he was being offered by his current broker – We don’t only pride ourselves on a highly efficient service but also our rates of exchange too! You have absolutely nothing to lose by contacting me for a comparison just to make sure you are getting the best price around.
Now, what does the rest of the week bring? Personally I feel there will be an extremely volatile market throughout these next few days and it is very hard to put together a decent argument as to how the Euro will strengthen back so I feel (and this is merely an opinion) that the Pound may gain a little more ground against the Euro, especially with rumours that we may see an imminent Italian credit rating downgrade.
Against the Dollar and riskier currencies I see a much flatter market however if things really do kick off in Europe you may see a little Dollar strength as investors seek a safer haven to run to.
If you would like an up to date forecast regarding any currency pairing then feel free to email me directly or to fill in the enquiry form on this website and one of our highly knowledgeable traders will give you a call back to discuss your requirements. We deal with bank to bank transfers ranging from £1000 to help pay bills overseas to multi-million Pound corporate transactions – Just leave a brief description of what you are looking to do and we will make sure the right person gets straight in touch. Contact me (Daniel Wright) the main author and owner of this site by emailing me at djw@currencies.co.uk I look forward to speaking with you.
Pound Sterling exchange rate update – The week so far – Cyprus, Bank of England minutes, The Budget and what may happen going forward this week?
Good afternoon,
Wow, what a choppy week so far for Sterling especially against the Euro!
News on Friday night that Cyprus were planning to essentially tax money from savings accounts sent the Euro into a plunge and made buying Euros a lot cheaper over the weekend, following this there has been constant speculation as to what may happen next leading to exchange rates for GBP/EUR going up and down like a yo-yo.
This volatile market has led to some great buying opportunities over the course of the week and I have made many people that have informed me of upcoming transfers aware of these spikes in the market.
This morning the Bank of England minutes from their previous interest rate decision actually helped the Pound a little against all major currencies as they showed there had been no extra votes in favour of any further Quantitative Easing.
The budget this lunchtime led to exchange rates moving by over a cent from high to low during its announcement – a difference of £735.00 on a €100,000 purchase. Luckily nothing too terrible has been announced so the Pound has indeed held its ground so far.
The Pound has indeed had a terribly rocky start to 2013 and unless we start to see potential that the U.K may avoid a triple dip recession then we may see these minor gains drop back again.
The on-going situation in Cyprus will however hold the most force this week in my personal opinion, purely by mentioning the plans to tax savings accounts we may see panic in Cyprus and possibly other troubled economies once the Cypriot banks re-open and the longer that they don’t the more chance of trouble erupting too.
Tonight we have the Federal Reserve Interest rate decision over in the States and GDP (Gross Domestic Product) details from the States.
No change in interest rates is expected in the USA but do be aware they may bring in or comment on new fiscal policies. Over in New Zealand GDP figures are expected to show growth of 0.9% which will be fairly solid for the NZD if they do come out as expected, any change to this however may lead to a sharp correction for GBP/NZD overnight.
If you have a pending transaction to make involving buying or selling Sterling against any other major currency then it is key that you make me aware, I can then inform you of any opportunities that arise in a market that literally moves every two seconds.
Feel free to reply to email me directly on djw@currencies.co.uk
I have thousands of satisfied clients that I have personally dealt with and quite simply I am here to save you money over your bank or current choice of broker along with helping you get a smooth and efficient service.
