Tag Archives: exchange
Australia leave interest rates on hold – Tension still apparent in Ukraine – A little construction data for the U.K to set the scene for the day for Sterling (Daniel Wright)
Last night Australia left their interest rates on hold at 2.5% which was expected and this has led to the Australian Dollar holding fairly steady in trading overnight and this morning.
Personally I feel any Australian Dollar movement in the coming days will be based on two factors – GDP (Gross Domestic Product) figures tonight and the ongoing situation between Russia and the Ukraine. Should things really start to get bad over there then global attitude to risk will no doubt be affected and this could lead to investors and speculators starting to drop the ‘riskier’ currencies like a stone which may lead to Australian Dollar weakness.
This morning we have the release of Construction data for the U.K which could be the first good indication as to how much the dire weather conditions have actually impacted on the economy.
The rest of the trading day is looking fairly quiet so depending on what we see from this release, this may set the scene for the rest of the day for the Pound assuming no major surprises crop up… which you can never rule out with all that is going on globally right now.
As mentioned in my post yesterday the week really starts to hot up tomorrow so if you are looking to carry out a currency transaction involving wither buying or selling the Pound then it may be prudent to contact me directly as I can help you both with timing your transfer and getting a better rate than your bank or current broker when you do decide to book out your currency.
To get in touch with me (Daniel Wright) directly then feel free to email me on firstname.lastname@example.org with a description of what you are looking to do and I will be more than happy to assist you personally.
Sterling exchange rates at fantastic levels for buying foreign currency – Will these rates last? (Daniel Wright)
GBP-EUR rates closing in on 12 month high once again
GBP-USD rates near to a 4 and a half year high
GBP-CAD rates near 5 year high
GBP-AUD Near 4 year high
Great time to buy!
Sterling exchange rates are currently at great buying levels compared to what we saw available throughout the course of 2013 as shown above!
We have an exciting year ahead with plenty going on in the market and as always I shall endeavor to keep you all full up to date with all the action.
This week has been fairly quiet on the economic data front, and exchange rates have been fairly flat.
Next week brings the start of March and what this means is that we will start to see the releases of economic data from February. One thing to really bear in mind is that throughout most of February parts of the U.K were almost at a standstill – With terrible flooding virtually shutting down entire towns and villages, not to mention seriously affecting transport links.
In my opinion this must have really weighed heavily on the economy and it could start to show in the coming weeks. Of course the U.K has been on the charge of late in terms of economic data so a slight halt in progress could easily push Sterling down a little again.
Of course you never really know just what is coming next for the Pound as many of you will be well aware, but this is certainly a potential point to take on board if you are looking to buy foreign currency in the coming weeks.
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. All you need to do is email me directly on email@example.com with a brief description of what you are looking to do and I will be more than happy to assist you.
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 firstname.lastname@example.org with a description of your requirements and a contact telephone number and I will be more than happy to give you a call.
Mark Carney and the Bank of England have raised UK growth forecasts helping sterling to gain against a number of currencies. At the same time they have underlined interest rates will be on hold for a long period of time which limits just how much higher we can expect sterling to rise in the coming weeks and months.
If you have a sterling transfer to consider in the coming weeks and months making some plans now at these levels may be a sensible move.
In other news the new Federal Reserve Chairmen Janet Yellen underlined Quantitative Easing in the US is likely to continue until there are significant improvements in the jobs market. And overnight Chinese economic data was much stronger than expected presenting what I believe is a very good opportunity for anyone selling Australian dollars or South African Rand to buy GBP.
I am available to assist in the planning and execution of any international money transfers you need to make (including bringing funds back to the UK or Europe). Unfortunately no one can tell you exactly what will happen on exchange rates but having won awards for our service and rates, we are extremely well placed to offer expertise in managing your currency exposure.
For a breakdown of strategies and options on your particular exchange please call me Jonathan in UK office hours on 01494 787 478 or if you prefer email a quick outline of your position to email@example.com
The Pound has remained fairly flat in trading today with a volatile period seen at 09:30am as GDP (Gross Domestic Product) figures were released for the U.K.
GDP came out exactly as had been expected and we in fact saw a sharp decline in the value of Sterling for a few minutes only for it to gain back value over the course of the day.
Tomorrow we have Governor of the Bank of England Mark Carney speaking and it was a speech from Mark Carney that led to Sterling weakness at the back end of last week as he once again confirmed that he is in no rush to hike interest rates even with unemployment levels dropping as they have done.
An interest rate hike can lead to strength for a currency and a cut in rates can lead to weakness, so speculation on interest rate hikes can lead to the Pound creeping up and when the possibility of a hike in the near term is dashed like we saw last week then the Pound can drop away.
Investors will be listening eagerly so be aware we could see some great buying or indeed selling opportunities during the lunchtime period tomorrow.
If you have a currency requirement involving wither buying or selling the Pound and you want to get the very best rate of exchange for it then feel free to contact me (Daniel Wright) directly by emailing me on firstname.lastname@example.org with a brief description of your requirements and a contact number and I will be more than happy to get in touch personally.
As predicted this morning it turns out Retail Sales were better than expected at 2.6% versus the 0.4% expectation. I would not have foreseen such a large improvement but this is obviously welcome for the UK economy although not the best news if you are selling a currency to buy GBP today.
I did hear back from the ONS (who were very fast and efficient I may add) who were not able to comment on which companies they sample for the Retail Sales figures for confidentiality issues. What they did say is that ‘if they have a UK registered address then they could potentially be included in the sample’.
The true impact of more shopping online with overseas businesses and the impact on the UK high street and Retail figures remains to be seen from this particular data therefore. It may be that one of the better retailers like John Lewis was included whilst poor performers like M&S were not. In any event it is a sample of companies and we have to go with what we have. It is certainly what other investors and economists will be using!
Looking ahead Q4 2013 GDP figures Tuesday 28th January is now very interesting. Will these Retail figures be reflected in the GDP data? With Retail accounting for 60-70% of the UK economy you could soon be looking at further improvements for the pound. As I have been saying for many weeks if you have a foreign currency to sell for sterling moving sooner really may be the best option.
For the latest news and more information on what is moving the market, as well as how to get the best rates of exchange please contact us or me directly using email@example.com or call 01494 787 478 and ask to speak with me Jonathan.
Enjoy the weekend
A good retail number for the UK may help the pound strengthen tomorrow but pressure will be on sterling throughout today. (Ben Amrany)
Data is thin on the ground today in the UK but there are still key releases that can have an impact on buying Euros and US Dollars. This morning we have already seen inflation data out of Germany which showed no change and was as expected. At 10 am we have the same release but for the whole of the Euro zone. This could easily cause more volatility and we have already seen GBP/EUR dip below 1.20.
It seems that every time the pound tries and cement itself above 1.20 something occurs and pushes it sightly lower. What may dent the pounds rise is the ECB monthly report. This may give an insight into future policy by the ECB and if they talk up the Euro like they have in the past it may cause the Euro to strengthen further. My recommendation is that while the pound is over 1.20 capitalise on buying your currency before the decline may start.
Over in the US this afternoon they release all of their inflation figures followed by a speech by the FED chairman Ben Bernanke This could lead to a volatile end to the days trading as it may give an insight into future fiscal policies by the central bank.
Going forward while the USD is above the 1.60 level it is still attractive to but. If the FED step up their Tapering then we would expect the Dollar to strengthen significantly. All food for thought and the next 2-3 months will be an interesting one on the market.
For the pound in general tomorrow we are eagerly awaiting the key retail figures from the busy Christmas period. We are expecting a good number after many retailers stated that they had a good Christmas. YOY we are expecting the number to have risen by 0.6% up to 2.6% and any number above this may assist sterling strengthening.
If you are in the situation needing to move money internationally and looking for the best price – please feel free to contact the author – Ben Amrany – via the telephone number at the top of the page or via email at firstname.lastname@example.org
U.K inflation levels hit 1.7% and now step below the Government target level – Sterling exchange rates see a little improvement (Daniel Wright)
The Pound has had a fairly solid morning this morning against most major currencies showing minor gains across the board.
Inflation levels came out a little lower than expected and initially we saw a little drop in the value of the Pound which soon turned around as investors fully digested the data.
Sterling exchange rates have had a rough few days after U.S Non-Farm payroll data came out a little better than expected on Friday afternoon which actually led to investors dropping the Pound like a stone and pumping their funds back into USD and the other riskier currencies.
Personally I am still of the opinion that the Pound is in for a good solid year providing nothing comes out of the blue to halt the current level of economic recovery. If I had a foreign currency to sell then personally I would seek to do this sooner rather than later and if I were looking to buy a foreign currency with the Pound I would probably either secure half of it now to half the risk of the market dropping away or just sit tight with the lot, reviewing this situation once a week.
If you have a currency transfer to carry out involving either buying or selling the Pound should you live in the U.K or not then I can help you.
The company I work for has won numerous awards for exchange rates and we pride ourselves on excellent customer service and market knowledge.
Feel free to contact me (Daniel Wright) by email on email@example.com with a brief description of your requirements and I will be more than happy to get in touch.