Tag Archives: exchange

Sterling strength today following positive unemployment figures – The Pound hits over a seven year high against the Euro – Is this now the best time to buy Euros? (Daniel Wright)

The Pound shot up during morning trading and has continued to creep higher during this afternoon following much better than expected unemployment figures along with uncertainty over Greece still casting a grey cloud over the Euro.

The Greek debt agreement is now starting to feel like an old soap opera with us being left with cliffhangers over and over again without really seeing any real resolutions.

The latest I had heard earlier today was that Greece would be looking to request a six month extension on their debt deadline which will further delay a main resolution and will no doubt keep this saga continuing.

Those looking to buy a property within the Euro zone will currently have a huge smile on their face as buying €300,000 has now become £16,000 cheaper so the temptation to book something in now is hard to resist.

It is easy to forget that you do not have to book out all of your currency in one go, a mistake many people still make. If ever I have the need to make a large currency purchase I would split my requirement into two or even three chunks. The beauty of this is that you are eliminating a portion of your risk should the rate suddenly come back down yet should it creep up a little further you are still able to take advantage of it.

If you have Euros to buy or sell, or indeed any other major currency to exchange and you want the very best rates of exchange along with exceptional customer service then you can deal with me personally. All you need to do is email me (Daniel Wright) directly on djw@currencies.co.uk and I would be more than happy to contact you personally.

 

Do you find our site useful? Why not use us for award winning exchange rates as well??!! (Daniel Wright)

Just to make you aware we have now had over 5500 people contact us through the site who have managed to get better rates of exchange than their current currency provider. If you are using one of the following it may be worth you getting in touch for a direct comparison:

Moneycorp, HIFX, World First, Smart Currency, UK Forex, Oz Forex, Foremost Currency, Foreign Currency Exchange, Currency Index, Currencies Direct, XE.com, Transferz, NZ Forex, Halo, Afex, Tor FX, Hargreaves Lansdowne and Transferwise. 

Not to mention Barclays, Lloyds, Natwest, HSBC, Yorkshire Bank, Clydesdale Bank, RBS, Halifax, Nationwide and pretty much all major banks.

We don’t only pride ourselves on a great exchange rate but also a really high level of service too, which you may find you are not getting to a high enough standard at present.

If you are using an online trading platform then make sure you get straight in touch, with an online platform you do not have someone negotiating on your behalf therefore generally do not receive the best rate of exchange you can.

We deal with bank to bank transfers ranging from one thousand Pounds to multi million Pound transactions for both private clients and corporate clients… We have a regular payments facility too which is free and can assist anyone with smaller payments to Europe.

The company we work for is FCA registered and Authorised as a payments institute and all funds are kept in client transaction accounts to give you peace of mind your funds are safe and secure, we have won awards both for our exchange rates and customer service and have now 50,000 clients under our wing. Anyone that contacts us through this site will deal with one of the authors, if there is an author you find particularly informative you can use them directly.

I have to say I am really proud as to how much this site has picked up over the past three years and it is thanks to my regular readers that it is as popular as it is today – Let me return the favour with exceptional exchange rates.

If you feel we could be of assistance to you as well, feel free to get in contact with me (Daniel Wright) the creator and main editor of this site  djw@currencies.co.uk or you can indeed fill in the enquiry form on this page and one of us will call you back.

You can also join our mailing list on this page too.

We look forward to speaking with you soon!

GBPEUR Forecast for this week

The UK’s General Election and any resolution in Greece would indicate the Euro stages a recovery. However Euro sellers should not expect major improvements since the problems in the Eurozone are deeply rooted, I think that any ‘solution’ will as always be a short term fix with the problems likely to resurface down the line.

As well as Greece there is key GBP news tomorrow!

Tomorrow’s Inflation data is significant since lately it has presented good opportunities to buy the pound.12 separate pieces of Inflation data will be released indicating the rate of which prices are rising (or falling). I personally expect the pound might decline as the Inflation data shows a decline too, this would indicate any interest rate hike is not so urgent. Getting the best deal is achieved through a careful mix of analysing the data and being able to react quickly. For assistance with any money transfers you might wish to consider please contact me Jonathan on jmw@currencies.co.uk

 

Pound Sterling Forecast – Upcoming data that may affect your exchange rate (Daniel Wright)

The Pound has had a funny week against most majors, remaining in the 1.34-1.35 range against the Euro, (albeit with some quite volatile moments) gaining ground back against the Dollar and pushing higher against the antipodean currencies (AUD,NZD,ZAR) even seeing the Sterling/Australian Dollar rate testing the level of 2.

One important matter that could really lead to an extremely lively start to the week is the issue with Greece. Whispers are that they are close to securing a debt deal which may bring a little certainty back to the Eurozone and confidence to the Euro, which in turn may lead to Euro strength at the start of the week.

Overnight on Monday night we also have the RBA (Reserve Bank of Australia) meeting minutes from their last interest rate decision which may give indications as to what the next move is and could really give the Australian Dollar  some fairly sharp movements out of hours.

If you have been waiting to buy your Australian Dollars at a rate of 2 then a limit order may be a sensible approach. This is where you can set an order to buy automatically if the achievable rate becomes 2 or better and can be really handy as data comes out from both economies day and night so it means that any sharp movements will be taken advantage of on your behalf. If you feel that this type of order may be beneficial to you then feel free to email me directly on djw@currencies.co.uk and I will be happy to get back to you personally.

Tuesday will bring inflation data for the U.K which has been a fairly important talking point for Governor of the Bank of England Mark Carney over the past few months as the figure continues to drop steadily with major thanks to falling oil prices. An even lower figure will possibly weaken Sterling off a little as concerns of deflation will no doubt rise and although yesterday Carney said in his inflation report that rates would not rise until at least 2016 this could still just concrete that thought a little more.

An interest rate hike is generally seen as positive for the currency concerned and a drop in rates negative so whenever an interest rate hike is pushed back you can see a currency drop in value.

If you are looking to exchange the Pound into any currency or exchange any currency back into Sterling then feel free to email me directly on djw@currencies.co.uk with a brief description of what you are looking to do along with a contact number and I will be happy to get in touch.

 

 

2015 so far and what may lie ahead – Currency market update (Daniel Wright)

‘A bird in the hand is worth two in the bush’

Sometimes it is more sensible to be content with what you already have rather than chasing something which is uncertain

With such great rates on offer at present – It is worth seriously considering locking into a rate of exchange now.

As can be seen above current exchange rate levels are absolutely fantastic for a number of major currencies, especially if buying Euros, Canadian Dollars, Australian Dollars or New Zealand Dollars – Or selling U.S Dollars.

With such great prices available it is always easy to continue to hold out for the rate to keep going but it is indeed key to remember that the markets generally tend to do whatever they need to in order to prove the majority wrong.

If you are looking to purchase a property overseas this year and you want to take advantage of current buying levels then there is a great option available to you known as a forward contract. This useful contract option allows you to lock into a rate of exchange for anything up to a year in advance, paying merely a small deposit initially and then the balance on or before whichever date has been agreed, this is absolutely vita if you are working to a fairly tight budget. Feel free register for free by clicking here and using my name (Daniel Wright) as a point of contact and I will be happy to call you to explain this in more detail.

Euro

2015 has been a great year for those looking to buy Euros with Sterling, even with a slight drop off over the past week or so.

With the European Central Bank recently introducing a huge QE (Quantitative Easing) program along with serious uncertainty surrounding Greece the Euro has taken quite a bashing.

With all of this going on it is very easy to think that this trend will continue, it might but I would be exceedingly careful as over the past few years the Euro has had a lot more thrown at it and managed to stand its ground.

If you have been a follower of the market for a number of years you will recall that during the whole European debt crisis the Euro actually managed to gain significant strength and European woes can actually have an effect on the strength of Sterling too.

I would also not be too surprised to see the Government or the Bank of England step in at some point in the future to try and weaken the Pound a little as such high rates against the Euro are very damaging to our exports of goods and services.

All in all we are very close to a seven year high to buy Euros so from my point of view the current buying level is seriously tempting.

Dollar

The Dollar had been on a great run of form and we had been looking to potentially break through the l level of 1.50 however in the past 24 hours we have moved away from that with thanks to both a slight recovery in oil prices and a member of the Federal Reserve last night commenting that he felt their QE program had stopped too early.

The main Dollar surge came straight after the QE program stopped in the States so if we did see a call to start it again then I would expect to see the Dollar Decline once more.

On the flip side of this, there is so much global uncertainty out there at present we are still witnessing a flight to safety and the Dollar appears to be the main benefactor as it stands.

Australian Dollar

The Australian Dollar has lost quite a lot of ground against the Pound since the start of the year which has been fantastic for those of you that have emigrated and have been waiting on the opportunity to exchange funds at a respectable level once again.

With a surprise interest rate cut and the Governor of the RBA Glenn Stevens seemingly still looking to have the Australian Dollar weaker than it currently is there is still a chance of seeing the rate get up close to 2 but beware as we have seen many a time in the past few months the Australian Dollar can bite back and when it does it is usually a fairly rapid and large surge of strength over a few days.

Canadian Dollar

Sterling has made solid gains against the Canadian Dollar as the Canadian economy has started to drop off a little along with low oil prices and a poor economic outlook. Many major banks now are predicting a bit of a slump in the value of the Canadian Dollar as their economy has to rely on non-export based growth a lot more which will not be easy.

I personally agree at present that there may be a little further for the Canadian Dollar to fall but as always beware of potential banana skins like the election which is due in the U.K that could quite suddenly lead to Sterling weakness.

Swiss Franc

Following the move from the SNB to lift the 1.20 artificial level against the Euro the Swiss Franc has made a slight recovery over the past week or so.

At one point the rate was over 25% lower than the start of the year and now it is less than 10% which just goes to show how much movement we have seen from this currency this year.

Personally I would not be surprised to see this recovery continue now however there have been mentions that the SNB still have a few extra fiscal policies up their sleeve so be extremely cautious and ready to move quickly in case we do see another major market swing.

Here at FCD we pride ourselves on not only award winning exchange rates but also on keeping clients fully up to date with market movements so that they can get on with their busy day to day business.

If you have a currency exchange to make throughout the course of 2015 and you would like us on your side then email me on djw@currencies.co.uk and I will be more than happy to contact you personally.

If you find these alerts useful then why not register with me for a free, no obligation trading facility by clicking here if you have not already done so to get a comparison against your current provider.

More is lost through indecision than a poor decision!!! Sterling at multi-year high against the Euro and multi year low against the Dollar (Daniel Wright)

Good afternoon and what a crazy week once again on the trading floor!!!

A very quick update from me as we are currently busier than we have been in a number of years!

The Euro has fallen well and truly out of fashion this week with thanks to the QE (Quantitative Easing) program bought in yesterday.

QE is generally seen as a negative for the currency concerned as we have seen previously with the U.K and U.S so this may weigh heavily on the Euro in the coming weeks.

The Dollar managed to briefly break the pivotal 1.50 level today and is now poised just above the 1.50 mark and I would not be surprised to see it potentially break through it mand offer a trading price of 1.50 at the start of next week.

If you are looking to buy foreign currency and you want the very best exchange rates then feel free to contact me directly and I will be able to not only save you money over your current provider but also ensure you get an exceedingly high level of customer service too.

Feel free to email me (Daniel Wright) directly on djw@currencies.co.uk and I will be more than happy to assist you personally.

 

 

Sterling exchange rates – Potential drop tomorrow morning to be aware of! (Daniel Wright)

Following on from an absolutely crazy end to last week the markets are starting to settle down again for Sterling against most major currencies as all eyes now appear to focus on what the European Central Bank will do on Thursday.

Talk of what may happen next with the ECB (European Central Bank) has been constant since the turn of the year and this may be the reason that the Euro has dropped off quite a lot against most major currencies.

The next key piece of economic for anyone either buying or selling the Pound in the coming days is the Bank of England minutes and U.K unemployment data, both due out tomorrow morning at 09:30am. Unemployment is expected to come out at  5.9% so any change to this may lead to volatility for the Pound. The minutes may be of greater interest as they will show what was discussed at the last interest rate decision and also how many members of the Bank of England voted in favour of or against an interest rate hike.

For a long period of time we have seen two members of the bank of England voting in favour of a hike and seven members against, and now that it is hard to see interest rates go up in the U.k this year you do start to wonder if one of the two members that were in favour of a hike now may have changed their mind?!

With an interest rate hike (or the mere speculation of it) generally being positive for the currency concerned if one less member is in favour of one then we may see the Pound drop in value against all major currencies.

If you are looking to carry out a currency transfer in the near future then I would be surprised if I could not get you a better rate of exchange than you are currently being offered along with a smooth and efficient service. If you feel that the site has been of use to you then feel free to email me (Daniel Wright) djw@currencies.co.uk directly with a brief description of what you are looking to do and a contact number and I will be more than happy to contact you personally.

 

 

Exchange rate update and forecast (Daniel Wright)

Sterling Euro

The Pound has been fairly range bound against the Euro of late following a reasonably good gain towards the start of the year. The main talking points surrounding the Euro at present appear to be  both the potential introduction of QE (Quantitative Easing) and the upcoming elections in Greece.

As regular followers will be aware QE general tends to weaken a currency (like we saw for both Sterling and the Dollar when the U.K and U.S have introduced this previously) however do also be aware that the markets do move on speculation as well as fact so the majority of this movement may have already been priced into the market.

We do appear to keep hitting a glass ceiling not too far above where the market is now and we will need to see some fairly substantial news to push us through this level of resistance so unless we see that I would not be surprised to see us remain within this range (which we are close to the top of) for the next week or two.

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 787462 if you do need to carry out a transfer soon.

Sterling Dollar

After an almighty charge from the Dollar towards the end of December/start of January the mid-market price looked like it may well test the 1.50 marker but Sterling managed to hold off the pressure and I currently nestled just above that. The key now is whether the Dollar has a second wind and if it can actually break through a key resistance level.

In times of global uncertainty you general tend to see the Dollar come into favour as a perceived ‘safe haven’ currency and on top of this at present the U.S look almost nailed on to raise interest rates before the U.K.

An interest rate hike generally tends to strengthen a currency and a cut in rates can weaken it and at present the bank of England appear to be constantly pushing back their rate hike expectations which is not doing the Pound any good.

Sterling – Australian Dollar

Following on from Sterling hitting multi year highs the Australian Dollar has also managed to gain back ground moving back against the pound by almost 4% since the start of the year.

We have had comments from RBA Governor Stevens towards the back end of the year that his preference would be to see a weaker Australian Dollar since it is damaging the Australian economy. Personally I would not be surprised to see further comments or some sort of action to push the rate back up however this must be approached with caution as the Australian Dollar can move rapidly and substantially when it is in a particular trend.

With the rate also moving overnight, if you are looking to achieve a particular level of exchange there is the option of a limit order r stop loss contract to ensure that if your rate becomes available overnight it will be taken advantage of, or the stop loss can protect you from adverse market movements if you want no lower than a particular rate of exchange.

Thursday morning will bring unemployment figures from Australia which are currently expected to not be too great which may weaken the Australian Dollar a little.

Sterling – New Zealand Dollar

The New Zealand Dollar had also made great progress at the start of the year against the pound however a drop in dairy prices yesterday caused it to weaken away again, seeing it drop by almost 1.5%. Personally I feel the NZD may well try to head back towards 1.90 again unless we see any major news as demand for the currency is still fairly high.

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. Please feel free to email me on djw@currencies.co.uk and I will be more than happy to contact you personally.

Our award winning site is not only a great source of information but we can save you money and make your life easier too! Contact us today! (Daniel Wright)

Just to make you aware we have now had over 5500 people contact us through the site who have managed to get better rates of exchange than their current currency provider. If you are using one of the following it may be worth you getting in touch for a direct comparison:

Moneycorp, HIFX, World First, Smart Currency, UK Forex, Oz Forex, Foremost Currency, Foreign Currency Exchange, Currency Index, Currencies Direct, XE.com, Transferz, NZ Forex, Halo, Afex, Tor FX and Hargreaves Lansdowne.

Not to mention Barclays, Lloyds, Natwest, HSBC, Yorkshire Bank, Clydesdale Bank, RBS, Halifax, Nationwide and pretty much all major banks.

We don’t only pride ourselves on a great exchange rate but also a really high level of service too, which you may find you are not getting to a high enough standard at present.

If you are using an online trading platform then make sure you get straight in touch, with an online platform you do not have someone negotiating on your behalf therefore generally do not receive the best rate of exchange you can.

We deal with bank to bank transfers ranging from one thousand Pounds to multi million Pound transactions for both private clients and corporate clients… We have a regular payments facility too which is free and can assist anyone with smaller payments to Europe.

The company we work for is FCA registered and Authorised as a payments institute and all funds are kept in client transaction accounts to give you peace of mind your funds are safe and secure, we have won awards both for our exchange rates and customer service and have now 50,000 clients under our wing. Anyone that contacts us through this site will deal with one of the authors, if there is an author you find particularly informative you can use them directly.

I have to say I am really proud as to how much this site has picked up over the past three years and it is thanks to my regular readers that it is as popular as it is today – Let me return the favour with exceptional exchange rates.

If you feel we could be of assistance to you as well, feel free to get in contact with me (Daniel Wright) the creator and main editor of this site  djw@currencies.co.uk or you can indeed fill in the enquiry form on this page and one of us will call you back.

You can also join our mailing list on this page too.

We look forward to speaking with you soon!

Sterling exchange rates drop off a little as the Pound falls back out of fashion (Daniel Wright)

The Pound has slightly fallen out of favour once again this week seeing a drop against most major currencies over the past few days.

We have seen fairly poor economic data to start off the year for Sterling however I don’t feel this is enough to have seen such a drop on a trade weighted basis. personally this all appears to be down to the fact that an interest rate hike seems to be getting pushed further and further back by the Bank of England and the current drop in oil prices to the lowest level since May 2009 (under $50) per barrel which is leading to inflation dropping significantly and adding to the problems that are currently faced by the Bank of England.

An interest rate hike is generally seen as positive for the currency concerned and a cut in rates usually negative and even the mere speculation of a hike in interest rates can lead to quite a change in the value of a currency.

Many major analysts have been thinking that the Euro is in for a tough few weeks as well and I am of the same opinion, we have the potential of QE (Quantitative Easing) from the European Central Bank and also a pending Greek election which may lead to Greece starting the process of leaving the Eurozone. QE when introduced generally tends to weaken a currency so this could put pressure on the Euro, however much of this may have already been priced into the market.

The Euro is a funny old character as no matter what seems to be thrown at it, it just never seems to lie down so do not expect extreme weakness just yet.

I feel the Dollar charge will more than likely find resistance at the 1.50 level but unless we get some positive news for the U.K and quickly it could potentially break through it.

Regarding Australian Dollars, although there is a minor fightback going on at the moment the RBA Governor Glenn Stevens still keeps on commenting that he would like to see a weaker Australian Dollar so I feel this could head back to the 1.90 level in the near term.

If you have a pending currency transfer to carry out and you would like to get a commercial level of exchange rate for it then we can assist you. We deal with bank to bank transfers ranging from £5000 to multi-million Pound transfers and welcome any new enquiries for business or personal exchanges. We deal with a huge amount of overseas property transactions too so if you would like assistance with any of this and you find this site of use then feel free to email me (Daniel Wright) directly on djw@currencies.co.uk with a brief description of what you are looking to do and a contact number and I will be more than happy to call you personally.

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