Tag Archives: exchange

U.K economic data to impact Sterling exchange rates this week (Daniel Wright)

We have had a fairly quiet start to the week so far for Sterling exchange rates, however we may see things liven up as the week continues to progress.

It is important to remember that any news on the referendum may impact the value of the Pound rapidly and out of the blue, so if you have an exchange to carry out in the near future then it is key to have a proactive and sharp currency broker on your side for it.

Here at Pound Sterling Forecast we aim to give you the very best in market information to ensure you make the right decision to suit your needs.

Tomorrow we have Public Sector Net Borrowing figures due out at 09:30am and expectations are for the figure to increase which would suggest that the Government has slightly more ‘new debt’ than last month if predictions are correct. I actually feel that we may see a slightly more positive figure with the referendum in mind so Sterling may have a good day tomorrow.

We have nothing of great note on Wednesday and then will see growth figures on Thursday morning be the next piece of economic data that we are expecting to have an impact. 0.4% is the figure that analysts are expecting to see for economic growth and any deviation from this may lead to a volatile trading morning.

If you have the need to buy or indeed sell Sterling for your business, due to a property purchase/sale or for any other reason then it is important to have a proactive broker on your side and one that can get you the very top levels of exchange – It is very easy to settle for second best in this market but it is key to realise that even the slightest improvement in a rate of exchange can save you a huge sum of money.

If you would like to have a brief discussion with me (Daniel Wright) as to how I will be able to assist you with any pending currency exchange then feel free to email me directly on djw@currencies.co.uk  and I will be more than happy to get in touch with you personally. We can cater for people inside our outside of the U.K and carry out bank to bank transfers.

Sterling exchange rates against EUR USD AUD and CAD in the near term – What impact may the referendum have? (Daniel Wright)

GBP/EUR

Sterling has gained ground against the Euro overnight as we have seen criticism of some European Central Bank policies in an interview with the head of Germany’s Bundesbank Jens Weidmann. These comments surrounding monetary and fiscal policy show a lack of togetherness which may well lead to further problems for the European Central Bank further down the line.

We must remember that although there is a lot of hype surrounding the referendum and problems for the Pound, the Euro has many problems itself with Greece apparently still struggling and fiscal policies that have been implemented so far not really having the impact that the European Central bank wanted.

I feel that there will be a lot of cat and mouse between this currency pairing in the coming weeks and plenty of buying and selling opportunities may arise, so if you are looking to purchase or sell Euros in the near future then it is key to let me know. We have rate alerts, limit orders and all sorts of tools available to help you maximise your rate of exchange so if there is a particular level you are looking to achieve then feel free to get in contact and I will explain these free market tools to you.

If you have the need to buy or indeed sell Euros for your business, due to a property purchase/sale or for any other reason then it is important to have a proactive broker on your side and one that can get you the very top levels of exchange – It is very easy to settle for second best in this market but it is key to realise that even the slightest improvement in a rate of exchange can save you a huge sum of money.

If you would like to have a brief discussion with me (Daniel Wright) as to how I will be able to assist you with any pending currency exchange then feel free to email me directly on djw@currencies.co.uk  and I will be more than happy to get in touch with you personally. We can cater for people inside our outside of the U.K and carry out bank to bank transfers.

GBP/USD

The Pound has been fairly range bound against the Dollar over the past few weeks and the political fiascos along with delaying of interest rate hikes over in the States still does not appear to have knocked the Dollar as much as we may have expected.

Later this afternoon we have inflation data out for the U.S along with the Federal Reserve meeting minutes due out tomorrow evening. These minutes may be crucial to the strength of the Dollar as they will show us just what had been discussed during the last interest rate decision, along with an indication as to whether or not we may see interest rate changes in the future.

The Dollar gained a lot of strength in the lead up to the end of last year due to the fact that the Federal Reserve had indicated that there may be four interest rate hikes this year and now it appears we may only get two at best. With an interest rate hike generally being positive for a currency and a cut negative, the mere speculation of a rate movement can lead to market volatility.

For a live quote to buy or sell Dollars and the very latest market information feel free to contact me (Daniel Wright) on djw@currencies.co.uk and I will be happy to speak with you directly.

GBP/AUD

The Australian Dollar is another currency having a tough time of things lately, we have seen the AUD drop by over 10 cents against the Pound in recent weeks and it looks like we may see a breach of 2 again in the near future. Like with the Euro it is important to realise that although there is a pending referendum in the U.K, we also have many problems in Australia too both in an economic and political sense… Not to mention China!

I feel that the potential to buy at a trading price of 2 may well be a stark possibility in the coming days and weeks and with this currency pairing moving 24 hours a day limit orders are well worth taking advantage of. A limit order is where you can set a particular rate of exchange you wish to achieve and should the market tick up there, even for a second then your currency will be purchased automatically for you. There is no cost to place this order and it can be cancelled or amended at any time as long as it has not gone through.

Call me (Daniel Wright) on 01494 787478 or email me on djw@currencies.co.uk for more information on this handy market tool.

GBP/CAD

With oil prices on the rise many would have felt the Canadian Dollar would be on a fight back, however recent information showed that the number of oil rigs in operation was at its lowest point in years, this is a stark reminder that the oil industry is nowhere near where it needs to be for prices to rise consistently. With the Canadian Dollar being so reliant on oil and the horrific fires that we witnessed last week the Canadian Dollar is looking a little shaky at present.

I feel that this pairing may remain fairly range bound in the next week or so, we do have the Bank of Canada Interest rate decision and rate statement next Wednesday which will be the next big Canadian release to look out for.

There is no doubt that the pending referendum will cause uncertainty for Sterling against all major currencies but the global economy as a whole also has many, many problems so this is certain to be an interesting time for the Pound and the global currency market as a whole. If you are not registered with us then it is well worth contacting me directly on djw@currencies.co.uk and I will be in touch to explain exactly how I will be able to help you.

If you have any questions or queries about this update or would like information on another currency pairing then please feel free to contact me directly.

Pound Sterling Forecast – Inflation and unemployment key for Sterling exchange rates in the next two days (Daniel Wright)

Tomorrow morning brings the release of key inflation data for the U.K at 09:30am and expectations are for a slight drop off month on month but for figures to remain steady at 0.5% year on year.

The target for the Bank of England is to keep inflation steady at 2% so any figure higher than expectations may give Sterling a welcome boost and any drop off for inflation figures could knock the Pound back after a solid enough start to the week.

On Wednesday morning, also at 09:30am we have unemployment figures for the U.K and expectations are for the level of unemployment to remain at 5.1%. Unemployment is one of the key parameters considered when the Bank of England think about interest rate changes along with average earnings. The reason average earnings are so key is that if they are not going up in line or above inflation then the public would not have any more spare money to spend so an extra lump to pay on their mortgage payments each month may make life fairly difficult.

With the referendum slowly creeping up on us I feel like the Government and Bank of England would be doing their best to make economic data appear steady so I would not be surprised to see a good few days for Sterling exchange rates and a slight boost for the Pound.

If you have the need to buy or indeed sell Sterling for your business, due to a property purchase/sale or for any other reason then it is important to have a proactive broker on your side and one that can get you the very top levels of exchange – It is very easy to settle for second best in this market but it is key to realise that even the slightest improvement in a rate of exchange can save you a huge sum of money.

If you would like to have a brief discussion with me (Daniel Wright) as to how I will be able to assist you with any pending currency exchange then feel free to email me directly on djw@currencies.co.uk  and I will be more than happy to get in touch with you personally. We can cater for people inside our outside of the U.K and carry out bank to bank transfers.

Sterling exchange rates have a quiet start to the week – Tomorrow and Thursday are sure to be different! (Daniel Wright)

So far this week we have not seen a great deal of movement for Sterling exchange rates but may that be about to change?

Tomorrow morning we have industrial and manufacturing figures out for the U.K and following poor construction figures last week, investors and speculators will be poised to see how the U.K performed in these sectors during April. Both releases are due out at 09:30am tomorrow morning so if you have an imminent exchange to make it is well worth tracking the market shortly after this time.

Thursday has the greatest potential for market volatility as we have the Bank of England interest rate decision, inflation report and the meeting minutes from the interest rate decision.

It is highly unlikely that we see any changes to interest rates however investors and speculators alike will be watching to see if any of the 9 members of the BOE have changed their stance with which way they would like interest rates to move.

The inflation report will also be of great importance, Mark Carney (Governor of the Bank of England) will give an overview as to what he plans to do about the current level of inflation and any potential changes to forecasts or fiscal policy may also result in a volatile day for Sterling exchange rates.

With releases like this coming out all the time it is key that you have a proactive and reliable broker on your side should you be due to carry out an exchange and that is where I can step in.

If you have the need to buy or indeed sell Sterling for your business, due to a property purchase/sale or for any other reason then it is important to have a proactive broker on your side and one that can get you the very top levels of exchange – It is very easy to settle for second best in this market but it is key to realise that even the slightest improvement in a rate of exchange can save you a huge sum of money.

If you would like to have a brief discussion with me (Daniel Wright) as to how I will be able to assist you with any pending currency exchange then feel free to email me directly on djw@currencies.co.uk  and I will be more than happy to get in touch with you personally. We can cater for people inside our outside of the U.K and carry out bank to bank transfers.

Sterling slips to start off the week as Brexit concerns weigh on the Pound – RBA to change rates in Australia tonight? (Daniel Wright)

Sterling exchange rates have had a fairly bad day against most major currencies, while many brits have been spending their bank holiday sorting out the garden.

It appears that a few Brexit concerns are creeping back into the market and without London markets being open to defend the Pound it has dropped off against the board.

I still feel that Sterling is going to have a good May and that although it is an easy pitch for many to say that the Pound will crumble I think we may start to see the remain campaign start to edge closer to victory as those in the leave campaign still have failed to be able to offer a firm and solid answer as to what would happen if we left. The truth is of course nobody knows and they will not know until they have negotiated so voting to leave will be a gamble and I feel a lot of people are starting to realise this.

The U.S economy has started to drop off a little giving the Pound a good boost against the Dollar and overnight tonight we have a key moment for the Australian Dollar. Later on we have the RBA Interest rate decision and although it is doubtful that we will see a cut in rates you cannot rule it out. Should we see a cut for Australia then the Australian Dollar may weaken off quite a bit overnight.

If you have the need to buy or indeed sell Sterling for your business, due to a property purchase/sale or for any other reason then it is important to have a proactive broker on your side and one that can get you the very top levels of exchange – It is very easy to settle for second best in this market but it is key to realise that even the slightest improvement in a rate of exchange can save you a huge sum of money.

If you would like to have a brief discussion with me (Daniel Wright) as to how I will be able to assist you with any pending currency exchange then feel free to email me directly on djw@currencies.co.uk  and I will be more than happy to get in touch with you personally. We can cater for people inside our outside of the U.K and carry out bank to bank transfers.

All eyes on the European Central Bank this Thursday -Sterling exchange rates in form today (Daniel Wright)

Following another positive day for Sterling exchange rates against most major currencies, it does appear that the Pound is slowly coming back into fashion.

We had very little in terms of economic data out today however there does appear to be a feel good factor surrounding Sterling this week so far. With the Government hell bent on having the U.K remain in the EU I feel that this is what will end up happening and that the markets are starting to correct themselves a little accordingly.

All eyes will no doubt now be on head of the European Central Bank Mario Draghi on Thursday as we have the European Central Bank interest rate decision and press conference at 12:45pm and 13:30pm respectively.

THis release can impact all major currencies and last time we had the ECB press conference, GBP/EUR moved by over 4 cents throughout the afternoon so expect market volatility on Thursday. A 4 cent movement would mean buying €100,000 would cost you an extra £2400 or get £2400 cheaper if it goes the right way for you.

It is highly important to have a proactive and efficient currency broker on your side during releases such as this and we can help you on that front. We have a range of contract options available including a limit order where you can set a particular rate you wish to buy at, and if you do get a sudden spike then it gets bought automatically.

If you have the need to buy or indeed sell Sterling for your business, due to a property purchase/sale or for any other reason then it is important to have a proactive broker on your side and one that can get you the very top levels of exchange – It is very easy to settle for second best in this market but it is key to realise that even the slightest improvement in a rate of exchange can save you a huge sum of money.

If you would like to have a brief discussion with me (Daniel Wright) as to how I will be able to assist you with any pending currency exchange then feel free to email me directly on djw@currencies.co.uk  and I will be more than happy to get in touch with you personally. We can cater for people inside our outside of the U.K and carry out bank to bank transfers.

What can we expect this week for the pound? (Jonathan Watson)

Jonathan speaking on BBC NEWS 24 in February

Jonathan speaking on BBC NEWS 24 in February

Great British Pound (GBP)

Important news this week for sterling is  Unemployment data on Wednesday which is expected to remain stable at 5.1%, this has been one of the key strengths of the UK economy, if the predicted rise in average earnings from 2.1 – 2.3% rings true sterling could be in for a good day on Wednesday! Thursday is Retail Sales figures which are always a volatile release and can impact markets, if you don’t see the sterling move you are looking for on Wednesday then this could be the one to watch.

In summary sterling should remain in a better position this week, the pound has slipped in recent weeks but found some form last week with better than expected Inflation data and better news concerning the government. David Cameron’s dreadful previous week was recovered from the worst points and a particular damning report by the Treasury on the Brexit has reconfirmed the governments position potentially further aiding the Remain camp. I expect this report and better UK data to help give the pound a lift by the end of the week but a lift that will be rather fragile when we (and financial markets) take into consideration the Referendum only 9 weeks away!

EURO (EUR)

A fairly tame start to the week with some Construction and Current Account figures gives way to a busy end of the week as Friday sees Manufacturing and Services data for the Eurozone. Thursday is the key date for the Euro however as we have the European Central Bank decision and Monetary Policy Statement. The last meeting saw almost 4 cents movement in the afternoon and whilst I don’t expect quite the volatility this is usually a volatile time as markets digest Mario Draghi’s assessment of the Eurozone. Following the ECB bazooka of low interest rates and QE last month Inflation has risen which should give Mario Draghi cause for cheer and possibly help the Euro rise.

In Summary the Euro looks set to remain strong but might lose some ground to a stronger pound on Wednesday. Thursday is the key date so if you need to buy Euros moving before Thursday might be sensible, GBPEUR buyers have received almost 3 cents improvements from the lows of April which given the uncertainty ahead should not in my opinion be dismissed too easily.

United States Dollar (USD)

This week is a range of mid tier releases in the US focusing on Housing Starts (Tuesday), Home Sales data (Wednesday) and Jobless Claims (Thursday). The dollar had weakened on the news the Fed were resigned to just the two rate hikes this year but has now found traction again. Two hikes is better than none and with the UK stagnating and the Eurozone still focused on ‘easing’ measures the dollar is still top of the class.

In summary there remains a good chance that the dollar will strengthen further against the pound longer term but this is sterling’s week. If you need to buy dollars with the pound taking advantage of any spike this week is I believe the best way forward.

Do you have a currency transaction to consider involving the pound? If so this week could see a return to favour which given the Referendum ahead is I believe something well worth taking advantage of! For more information on events to be aware of surrounding your currency transaction please contact me Jonathan Watson on jmw@currencies.co.uk

 

 

Will The Pounds Rally Continue? (Daniel Johnson)

Sterling has rallied against most major currency pairings after the release of better than expected Consumer Price Index (CPI) figures. CPI is a measure of inflation and is a key barometer as to the health of an economy, a rise is seen as positive. GBP/EUR briefly hit 1.26 and we have seen a slight drop since, currently sitting in the low 1.25s. Whether you are purchasing EUR,AUD,CAD or USD I feel it may best to take advantage of current levels. The key factor in any Sterling trade is the EU referendum, current polls show 52% of the UK population are in favour of a “Brexit”. If the UK were to leave it would be catastrophic for the UK economy, with trade relations put under sever strain which will severely decrease UK exports.

HSBC recently predicted GBP/EUR could hit parity if an exit takes place. Cameron is clearly concerned spending $9.2m on leaflets, which may not have the impact he hopes due to his credibility taking a knock after the “panama papers” release. The International Monetary Fund (IMF) have now cut the UK’s economic growth forecast from 2.2% to 1.9%. Sterling could plunge in value if there is an exit, if you are selling the Pound, procrastination could prove very costly. The safe option is to move before June 23rd.

If you have a currency requirement I will be happy to assist.  I specialise in property and commercial trades and I am in a position to undercut high street bank’s exchange rates by up to 5%. If you would like to get in touch for a free quote you can contact me at dcj@currencies.co.uk. Thank you for reading my blog and I look forward to hearing from you.

If you would like to find out more about the company I work for please why not visit our website www.currencies.co.uk.    

Sterling exchange rates crumble further as Brexit concerns still hang over the head of the Pound (Daniel Wright)

The Pound has taken yet another bashing in trading over the last 24 hours and my confidence in a recovery is starting to be seriously tested.

We even saw industrial and manufacturing data coming out as negative on Friday morning and in my view should we start to see a big push back up in the direction we need a catalyst and so far that just has not arrived.

The next big data we have out for the U.K is a flurry of inflation data due out on Tuesday morning. Further negative news may lead to yet another tumble but a positive release could finally give those that are looking to buy foreign currency the lift they are waiting for.

The issue for the Pound at present is uncertainty, both in a political and economic sense. The referendum is not only causing investors and speculators to leave the Pound alone as they do not know what our economy will be facing shortly, but it is also causing our politicians to fight between themselves and this is also bad news for a currency.

All in all I still believe that against the grain there is room for the Pound to improve in the coming weeks, however the catalyst does need to arrive and fast.

If you have the need to buy or indeed sell Sterling for your business, due to a property purchase/sale or for any other reason then it is important to have a proactive broker on your side and one that can get you the very top levels of exchange – It is very easy to settle for second best in this market but it is key to realise that even the slightest improvement in a rate of exchange can save you a huge sum of money.

If you would like to have a brief discussion with me (Daniel Wright) as to how I will be able to assist you with any pending currency exchange then feel free to email me directly on djw@currencies.co.uk and I will be more than happy to get in touch with you personally.

Sterling exchange rates – Rounding off the week (Daniel Wright)

So after a fairly quiet week on the markets I thought I would round up what we have left to look out for that may impact Sterling exchange rates.

For anyone with an interest in Euros, tomorrow morning may be the most important remaining data of the week as we see European inflation data out at 10:00am. Expectations are for a minor drop year on year which may lead to a little Euro weakness in morning trading tomorrow.

For anyone with an interest in Sterling exchange rates against any major currency it is well worth noting that Governor of the Bank of England Mark Carney is due to speak outside of hours at 8pm and any hints on future economic policy may lead to the Pound moving around a lot overnight.

Also overnight for anyone that is looking to exchange Australian Dollars you should be aware that we have Chinese manufacturing data out late at night which will no doubt impact where the Australian Dollar kick starts the day on Friday morning.

When there are big overnight releases such as these it is important to know there is a contract option available known as a limit order. A limit order is a market tool which is completely free and means that you can set a target rate that remains in place 24 hours a day unless you say otherwise and if it becomes achievable then our smart computer systems will buy the position for you. These orders can be canceled or amended at any time should they have been triggered and are really handy if there is a rate you are looking for that is within reach but not quite there yet. For more information on these handy market orders or to get a quote on a currency exchange please do feel free to contact me(Daniel Wright) by emailing djw@currencies.co.uk and I will be happy to contact you personally.

Finally on Friday we have Non-Farm Payroll data at 13:30pm which is a data release important for those with a Dollar interest and indeed interest in the ‘riskier’ currencies such as the AUD, NZD and ZAR. Non-Farm Payroll data is essentially the number of people in Non-agricultural employment over in the States and is a key indication as to how their economy is performing.

This release can cause quite a lot of volatility because predictions are made in advance and these can be wildly out. The market moves on rumours and predictions as well as fact, and should the figure come out quite a way from initial predictions the market does correct itself rather swiftly.The reason this effects the AUD, NZD and ZAR and pretty much most majors is because as I am sure you can imagine it will affect attitude to risk and will lead to rapid movements of large amounts of money globally in what generally presents an interesting week to say the least without any surprises popping up during the course of it.

If you are using a broker or your bank and you aren’t getting the attention you feel you should be surrounding your currency transfer, or you feel you may be able to get a better rate of exchange than you are currently receiving then please do feel free to get in touch with us for a direct comparison.  You can email me (Daniel Wright) the creator and owner of this site directly and I will deal with you personally if you so wish djw@currencies.co.uk or fill in the enquiry form on this page and one of our experienced currency brokers will call you straight back.