Tag Archives: exchange

Pound Sterling Forecast – We can help you exchange your currency too! (Daniel Wright)

We now have well over 150,000 readers a month and many of them have actually contacted us over the years asking for help with their exchange.

Every writer on this site works for one of the longest serving currency brokerages in the U.K and many readers aren’t aware that not only is it more likely that we can get you a much better price than your bank or the broker you have chosen to use, but we also pride ourselves on offering an extremely personal service, where you are allocated your own broker here that will help you along every step of the way.

We have a huge turnover, so our buying power is generally greater than others which we pass on to our clients and we do not just try and get you to do the deal as soon as possible just so that we can move on to the next one, we take great care in giving you all the information out there to help you make the best possible decision for you personally.

There are a number of contract types we offer, these include forward contracts, stop losses and limit orders and these are all designed to help you avoid adverse movement in the markets and to take advantage of any spikes in the market for you should they occur.

Most writers on this site have been with the company for over ten years now, so our wealth of experience can be extremely valuable when you are trying to make a decision on when to buy currency for your business or property transactions.

I (Daniel Wright – The creator of the site) am currently taking on new clients, we deal with exchanges ranging from £5000 up to multi million pound exchanges for celebrities and high net worth individuals, all in the strictest of confidence.

If have been reading the information on our site for a long period of time and you feel that I may be of use to you on an imminent exchange, or indeed one later in the future then you can get in contact with directly by emailing djw@currencies.co.uk with a brief description of what you are looking to do so that I can prepare a summary of how we can proceed and then give you a call. Even if you are using another broker at present it would be highly unlikely that I will not be able to get you a better deal and a much more efficient level of service.

I look forward to speaking with you!

 

 

Exchanging Euros for Pounds hit it’s best level since August today, will the Pound continue to decline? (Joseph Wright)

Sterling fell pretty much across the board during today’s trading session, as the currency is coming under increasing pressure after posting some worse than expected economic figures recently.

Yesterday the Inflation figure (the consumer price index released by the Office for National Statistics) demonstrated that inflation isn’t growing at the pace expected by economists and financial analysts, and the Pound immediately weakened in the aftermath of the news release, and once again today the currency has been on the decline.

The falls are understandable as the Pound has been propped up by some very positive recent business surveys which saw the Pound climb between 4-5 cents against both the US Dollar and the Euro as well as other major currency pairs, but it’s the hard data like yesterdays figure which is bringing Sterling sellers back down to earth as the recent gains have been almost wiped out over the past couple of days.

Those with a currency requirement involving converting Pounds into another major currency, may wish to consider making that exchange sooner as opposed to later as if the current trend continues we may see all of the Pounds recent gains wiped out. The trend for GBP/EUR is currently negative and over the past couple of days we’ve witnessed the Pound trading at it’s lowest level against the Euro since August.

On the other hand, any of our clients, or potential clients looking to convert Euros/US Dollars/Aussie Dollars etc into Pounds are looking at levels close to between a 3 to 30 year high. Our brokerage offers improved rates of exchange than the high street banks do so get in touch if you would like to find out how you can make some extra money on a currency exchange you’re planning. It’s free and takes just a couple of minutes although it could end up saving you thousands of Pounds.

If you want to be kept up to date on the markets and you would also like to ensure that you are getting the very top levels of exchange for an imminent currency transfer or even a longer term one then I can help you with this.

Not only do we give clients up to date market information but we all work for one of the largest and longest serving currency brokerages in the U.K, so even if you have dealt with your current broker or bank for a long time I would be surprised if I could not show you a saving over what they are offering you – You can email me (Joseph Wright) directly on jxw@currencies.co.uk and I will be more than happy to contact you personally to discuss the various options we have available to you.

Is the brand Britain feel good factor rubbing off on the Pound? Sterling exchange rates on the up (Daniel Wright)

So it appears that the doom and gloom merchants may well have got it slightly wrong regarding how a leave vote would impact the economy… Certainly so far anyway.

The Pound completed a hat trick of solid data this morning when the U.K services sector showed a much stronger than expected figure for July.

All in all, despite the initial drop off and the current uncertainty still holding Sterling back we are seeing the Pound start to gather momentum and investors and speculators are starting to get a little more confidence around it.

We do have a fairly busy week ahead of us for other economies around the globe so maybe it is time for others to take their turn in the headlines and the Pound to start fighting back.

Tonight we have the RBA (Reserve Bank of Australia) interest rate decision and rate statement which may give us a fairly volatile evening for AUD exchange rates. There is no imminent cut expected, but should we see a surprise cut or a nod to a cut in the near future the Pound could push higher against the Australian Dollar.

On Wednesday we have the inflation report hearings from Bank of England Governor Mark Carney, followed by a speech from MPC member Cunliffe so keep a keen eye on the markets mid morning on Wednesday in case any alterations to future predictions are made.

Thursday may well be the most important day of the week, especially for those with a Euro requirement. We have the ECB (European Central Bank) Interest rate decision and press conference and there is a chance we may see further addictions and changes to fiscal policy, this may include adding to QE (Quantitative Easing) which in turn would more than likely weaken the Euro off.

The press conference after it at 13:30pm can throw up quite a lot of volatility too as head of the ECB Mario Draghi answers questions and queries from the press. The rates can move off of his every word so ensure you are ready for action on Thursday should you need to buy or sell Euros. We have known to see swings of over 4 cents during the press conference which is a difference of £6000 on a €200,000 purchase.

If you are looking to buy or sell any major currency and you would like assistance both in terms of getting a top exchange rate along with a supremely smooth and personal service then I can help you. Not only do we write about what is going on in the market but we all work for one of the longest standing and top brokers in the country. We can help people from all over the world and deal with bank to bank exchanges from £2000 upwards with no higher limit.

If you feel that you would appreciate my personal assistance then feel free to email me (Daniel Wright) the creator of this site on djw@currencies.co.uk or fill in the form below and I will get in touch as soon as I can.

Sterling continues its recovery as UK growth estimates meet expectations, but will the recovery continue? (Joseph Wright)

It’s been quite a bullish week for the Pound this week as economic data releases have impressed and Sterling has gained a good few cents vs many other major currency pairs.

Towards the end of last week the UK’s Retail Sales Figures for July were better than expected, and this week the weak Pound has resulted in the UK’s Manufacturing Output reaching a 2 year high as people overseas are keen to pick up goods at low prices. These positive sets of data, coupled with today’s Gross Domestic Product estimates coming out as expected,  have boosted sentiment towards the Pound as this has been reflected within currency markets as the Pound has gained almost 3 cents vs the US Dollar, and almost 2 cents vs the Euro.

Those that plan to convert their Sterling into a foreign currency at a higher rate will of course be hoping that the Pound continues to climb, and whilst I think it may do, there are a number of risks to holding off so it may be an idea to make at least part of that trade at current levels with the hope of averaging up in future. This is an approach many of our clients are currently taking and we’re here to help by keeping them updated with what’s going on in the marketplace.

Those who plan to purchase Pounds, by converting their Euros,US Dollars or Aussie Dollars for example, may wish to get in contact and check whether our rates are better than your current providers/banks as whilst current levels are particularly favourable, a return to risky attitudes from investors is likely to drive up Sterling’s value, especially if economic data out of the UK continues to surprisingly impress.

Major economic announcements that could sway markets next week are Thursday’s Manufacturing Data which is expected to show an improvement, and then next Friday will be Non-Farm Payroll and Unemployment Data out of the US. If you would like to discuss these and how they can affect markets, do get in touch and I’ll be happy to explain.

If you would like to discuss an upcoming currency requirement you’re planning, in terms of the timings and getting the best rate of exchange available, feel free to contact me on jxw@currencies.co.uk  in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible. You can also call in directly to reception and ask for Joe on 01494 787 478.

Sterling exchange rates suffer again this week – Where will the pound head next? (Daniel Wright)

So we have seen yet another poor week for the Pound against all major currencies, seeing Sterling exchange rates drop by over 2% against the Euro, 4% against the Australian Dollar and almost 2% against the U.S Dollar.

Those readers looking to sell foreign currency will have been watching the rate movements with a big smile on their face, the main question now is how long will the rate stick around at these levels??? Will the rate go lower or are we getting close the the Pound hitting its lowest point.

One point to note is that we have seen multi year lows against a number of currencies and at some point I would expect to see the rates bounce back ,the only issue is working out when that may happen.

August had been expected to be a fairly poor month for the Pound as we start to see the first sets of post brexit economic data. On top of this, the Bank of England also decide to throw a triple whammy of fiscal change into the market when announcing an interest rate cut, increase of QE and an addition to their funding for lending project – all last Thursday.

Since we had this announcement sterling has been slowly sinking and I do feel that it may suffer a little more before it does get better.

Next week we have inflation figures, Unemployment data and Retail Sales figures so be prepared for another interesting week ahead.

If you want to be kept up to date on the markets and you would also like to ensure that you are getting the very top levels of exchange for an imminent currency exchange or one coming up in the future then I can help you with all aspects mentioned above.

Not only do we give clients up to date market information but we all work for one of the largest and longest serving currency brokerages in the U.K – You can email me (Daniel Wright) directly on djw@currencies.co.uk or fill in the form below and I will be more than happy to contact you personally to discuss the options available to you.

 

Make sure you get the most on your foreign exchange – Take a few moments to get a free, no obligation comparison with us (Daniel Wright)

Over the past 6 years we have helped countless readers get a better rate of exchange than they are being offered elsewhere for their business transactions, property purchases/sales, car purchases, overseas weddings, wages or just simply their living expenses.

During the current economic climate it is important to make sure that you are getting the most out of your money and with currency exchange it really is no different.

We have seen an increase in clients contacting us that have been using the same broker for many years assuming that they are still getting a fantastic rate of exchange. Whilst that may be true with some, many actually found that when they compared with us we could actually get them much better and that their rate had slowly got worse year on year much the same as if they did not change their car insurance or electricity supplier.

We also have a lot of property buyers or sellers who come to us that have been referred a broker by their estate agent…. This also more often than not means that you will not be getting the most for your money and the agent generally is pushing you to use their broker because most will get paid a commission for passing over their client. If a brokerage has to pay out a commission then they cannot afford to give the client the very top rate so you end up losing out.

If you are in any of these positions it is important to realise that here at Pound Sterling Forecast we also can help with currency exchanges too, and generally at better rates than elsewhere. We all work for a huge independent brokerage based in the U.K and have been helping clients all over the world for 17 years now.

It is well worth taking two minutes out of your day to email me (Daniel Wright) directly on djw@currencies.co.uk for an honest opinion and to see if we can actually get you a better deal. even saving half a percent on a £200,000 exchange makes it £1000 cheaper for you so it is well worth getting in touch. You can also fill in the form below.

 

The pound – it will probably get worse before it gets better…

Oh brilliant in the midst of one of the UK’s worst political crisis ever the Tories are seeking to open another old wound – Grammar Schools. As a product of a Grammar School I would not be in any way against them, but surely a key priority right now is the Brexit plans? 7 and a half weeks since the vote is probably too early to start expecting a solution to an issue that will surely take years to deliver but will someone please provide some direction and leadership in this affair? Personally I would be advocating a so-called hard Brexit, wouldn’t it be a shame if the UK ended up like Norway? With a basically worse version of what we already have! Personally I would favour a reformed Free Movement of People principle but still seek access to the Single Market. Surely the politicians can see this? Some say it would lead France and Italy to seek Frexit or Italexit – (did I just coin a phrase?!) but can’t the EU leaders see they need to change tact to keep the EU together? Politics is an important factor on sterling exchange rates and any big developments here will have a big impact on the pound. Whilst having a new PM is great and I do support Theresa May in as much as I believe she is one of the best candidates to lead the UK at this time, the likelihood of further political uncertainty from the Brexit is very high. It will probably get worse before it gets better!

The big economic news this week is the NIESR (National Institute of Economic and Social Research) has an estimate on GDP (Gross Domestic Product) tomorrow. The NIESR estimate is a rolling 3 month estimate that reviews the last 3 calendar months which will include July’s data. Since we won’t get any views on July’s GDP from the official supplier of GDP data – the ONS (Office National Statistics) until October, tomorrow’s news is key to understanding the impact of post Brexit vote Britain on UK GDP, the holy grail of economics. We also have a raft of other data including Trade Balance data plus Industrial and Manufacturing data tomorrow but as this data is for June it won’t provide as much insight on the economy as the NIESR data. With the PMI survey’s showing big falls and all the fresh data showing less hiring, less growth and less confidence you would have to say it will probably get worse before it gets better.

There isn’t much else to celebrate this week economically for the pound and with the Bank of England confirming another rate cut is likely in the next month it seems likely the pound will fall further. We have a statement from the Reserve Bank of Australia Governor Stevens speech on Tuesday night, then the New Zealand Interest Rate decision Wednesday night and Eurozone GDP on Friday. So there you have it folks a fairly busy week, I think the UK GDP is the highlight and something I will be closely watching. Have you ever wondered if there was a better way of doing something? if it would be possible to get a slightly better exchange rate than you are currently achieving? Or wished you could talk to someone knowledgeable who treats you like a human being and explain the foreign exchange market clearly and concisely? My name is Jonathan Watson and I am the author of this post and have worked as a foreign exchange broker for close to ten years helping literally thousands of clients both private and business to make informed choices at the very best exchange rates. I have been quoted in national newspapers and even appeared on the BBC discussing the EU Referendum earlier this year. If you have a transfer to consider I would be most interested to hear from you and offer further information to help you get a better deal, please email jmw@currencies.co.uk or call 01494 787 478 and ask to speak to me Jonathan Watson. Please note I can only help with bank to bank transfers from £10,000 to the multi millions and do not deal in holiday cash. You can also fill in the form below.

Key day for Sterling exchange rates today – Bank of England interest rate decision (Daniel Wright)

We have a key day for Sterling exchange rates today as we have the Bank of England interest rate decision, meeting minutes and Governor Mark Carney also speaks shortly afterwards.

There are a number of possible scenarios which I will outline below.

  1. Interest rate cut and a nod to further QE (Quantitative Easing). This will more than likely lead to Sterling weakness this afternoon as although the rate cut is expected and almost priced into the market, more QE would be seen as a negative for the Pound and could cause the rate to drop off.
  2. Interest rate cut and no QE. I actually think this would give the Pound a boost, again the cut is pretty much priced in but no movement on QE for the foreseeable would be likely to boos the Pound.
  3. No interest rate cut. I still think this is a possibility however a small one but this would give Sterling strength.
  4. A cut and then an aggressive stance in the speech on economic policy. We may see a rate cut and then Mark Carney could come up with an aggressive stance on where we head next which would more than likely lead to weakness for Sterling this afternoon.

All in all, I would say there is more chance of Sterling dropping than going up today but I wouldn’t fall off my chair if we finished the day higher than where we are now. The rate cut will not make a huge difference but what is carried out or spoken about around the rate cut will be the most important part to follow is what we see in the minutes from the meeting and what Mark Carney says in his speech shortly after.

Should you need to exchange currency either now or in the near future then it is highly important to have an experienced and proactive broker on your side, and of course someone that will get you a top exchange rate. I have so many new clients come to me through this site that have used the same broker for years and become comfortable with them to the point where they do not check prices any more. Pretty much every one of these people ended up using us as they found that their loyalty had led to their rates being nowhere near as good as they were when they first starting using their current broker.

Here at Pound Sterling Forecast we do not only offer market information but we also work for a huge currency brokerage in the U.K with a big buying power, meaning we can get our clients extremely good rates of exchange. If you would like to get a quote, speak about a pending currency exchange or just to get some more information on our service then feel free to email me (Daniel Wright) the creator of this site and I will be more than happy to get back to you personally. You can email me on djw@currencies.co.uk and I will aim to get in touch as soon as I can.

Will an Interest Rate cut weaken Sterling exchange rates this week? (Joseph Wright)

It’s looking highly likely that the Bank of England’s Monetary Policy Committee will cut the UK base rate this Thursday. The likely outcome will be a cut of 25 basis points down from 0.5% to 0.25% and I think that currency markets have already begun pricing in this drop as we’ve seen the Pound soften over the past few trading sessions with GBP/EUR dropping down into the 1.17’s yesterday for the first time in almost 3 weeks.

Mark Carney, the governor of the Bank of England did allude to a rate cut in the immediate aftermath of the ‘Brexit’ in order to mitigate the negative effects to the UK economy created by leaving the European Union, and then yesterday weak Manufacturing Data out of the UK added further fuel to the fire for a base rate cut this week.

Interest Rate cuts usually weaken the underlying currency so it’s important that anyone either buying or selling the Pound at the moment is aware of this likely move.

In terms of the Pound and its likely future movements, I’m not expecting a massive drop if the rate is cut because it’s expected, but I am expecting the Pound to weaken slightly in the lead up to Thursday and I think as the year goes on we could see the Pound fall further as economic news released paints a gloomy view of the UK’s economy now that the UK has left the EU, and uncertainty surrounds the UK economy.

Those with a currency requirement whereby they need to convert Pounds into another foreign currency may wish to consider making their conversion sooner as opposed to later, as should the UK economy continue to disappoint post ‘Brexit’ I think we could see the Pound soften quite a lot further.

If you would like to discuss the timing of an upcoming currency requirement you have, feel free to get in contact with me (Joe) on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible. You can also call on 01494 787 478 and ask reception for Joe. 

European bank stress tests out tonight…. Watch this space!! (Daniel Wright)

Tonight we have a fairly important night for all banks in Europe as the latest banking stress tests are released.

What I find a little concerning is that the results of these stress tests are not being released until outside of trading hours at 9pm, this may be because this is when they are ready or more like that we may hear some fairly interesting news from them.

It is very rare that an economic data release from Europe comes out late on a Friday night and I feel that the reason they are doing this may be that they have some bad news to bring to the market and they do not want investors and speculators to react on it straight away.

By releasing data late at night on a Friday this gives ample time for statements to be released afterwards to settle the markets and two days for investors and speculators to calm down before the market sees large knee jerk reactions.

It is fairly common knowledge that banks in a number of areas are in quite a lot of trouble, most notably the Italian banks at present. Should the stress tests back this theory up then the Euro may find trouble and be down on Monday morning.

If you are in the position where you have a large Euro transaction to carry out then it may be prudent to keep an eye on the rates when the Asian markets open on Sunday night.

To be honest, these results may impact global attitude to risk so all major currencies may see volatility so it is key that you are on the ball and ready to react as your currency exchange may become thousands of Pounds cheaper or more expensive very quickly.

Here at Pound Sterling Forecast we do not only write up to date and important market information for you but we all work for one of the largest currency brokerages in the U.K so can also help you with your currency transfer. If you have a transaction to carry out involving buying or selling the Pound then feel free to get in touch with me (Daniel Wright) the owner and creator of this site and I will be more than happy to contact you personally to discuss your requirements. You can email me directly on djw@currencies.co.uk and I look forward to speaking with you.