Tag Archives: gbp

A tough week for sterling (Dayle Littlejohn)

UK Prime Minister told Sky last week that she didnt want to keep bots of the EU which confirmed she plans to remove the UK from the single market. The pound has been in a steep decline since. The PM has blamed the press for the pounds demise however I believe if she continues with her tone exchange rates will fall.

She is set to hold another press conference Tuesday, with the agenda simply Brexit. Many leading economists and CEOs of businesses within the UK have warned the PM that she needs to give clear direction in the upcoming weeks.  HSBC leading officials have gone one step further and warned the PM that her actions could push the bank to move their headquarters to Paris, which means many jobs would be lost for the UK.

As for UK economic data since the turn of the year, figures have been strong however the pound has declined. It just shows that politics/ Brexit is outweighing economic data releases.

If you have a foreign currency to buy this month I would recommend getting in touch to discuss your options as I expect the pound will fall in value once more after the PMs press conference Tuesday.

When buying or selling the pound you also need to understand the factors that will be impacting the other currency. Feel free to email me the currency pair you are converting (GBPUSD, GBPAUD, GBPCHF etc) the reason for your conversion (company invoice, buying a property) and I will email you with my forecast for the currency pair and the process of using our company drl@currencies.co.uk.

For the readers reference the company I work for on a daily basis save clients money on currency transfers. If you are planning a transfer and are using your bank or another brokerage, I would reccomend getting in touch for a forecast and at the same time compare of exchange rates. This is free of charge and will take you a few minutes.

 

Sterling gains on positive UK trade data, will the bullish trend continue? (Joseph Wright)

The latest set of UK economic data surprised investors today and as a result, the Pound has received a welcome boost across the board.

After a very good November the Pound fell off it’s highs against both the Euro and the US Dollar earlier this week, but the currency is regaining some of it’s lost value and approaching those highs once again which the GBP/EUR pair approaching 1.20 once again.

The Pound has recovered particularly well versus the Euro after the European Central Bank (ECB) announced yesterday that it will be extending its bond purchasing program as a form of quantitative easing.

The Pound gained off the back of this news mostly due to Euro weakness but today those gains have been boosted further. UK Trade is looking a lot healthier after data released today showed October’s visible trade balance dropped to -£9.7bn when many had expected to see it drop from -£13.8bn down to -£11.8bn.

This reduction is of course good news for the UK, and trade balance figures are often discussed in financial media after earlier this year it was announced that the pound had the highest deficit within the developed world.

Now that GBP/USD is trading above 1.25 and GBP/EUR is closing in on 1.20 once again it appears that the Pound is looking healthy around these levels after gaining a lot of ground in a short period of time.

If you’re planning on taking advantage of the recent gains by Sterling by converting the currency into another major currency, feel free to get in contact to discuss  exchange rates and timings.

You can contact me directly 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.

Sterling makes a minor recover but what next? (Dayle Littlejohn)

This week UK economic data has stopped the pound falling against most of the major currencies. Early in the week UK inflation showed an improvement and I put this down to oil prices rising which means the price at the petrol pump has gone up therefore the public are spending more. Later in the week unemployment and retail sales numbers also exceeded expectation which is a surprise as many economists believed the ‘Brexit’ would have weighed down on the figures.

Late Friday afternoon the pound took a nose dive and this has been a common occurrence since the referendum. Speculators do not want to leave their assets in the pound over the weekend due to unexpected events that could occur over the weekend when they are not in the office and markets continue to stay active.

It seems the pound is in a similar position to where it started at the beginning of the week and many client lats Friday asked has the pound levelled out. Personally I still believe there is further falls to come therefore if you are buying foreign currency trading sooner rather than later may be wise.

Looking ahead the major data release this week is UK inflation hearings Tuesday morning. At the hearings Governor of the Bank of England Mark Carney, will give his inflation predictions. Now the BoE have cut interest rates and are injecting a substantial amount of quantitative easing into the economy you would expect inflation to rise. Theres an argument to suggest Mr Carney will state he believes inflation will rise but at the same time I can’t see him taken a bullish tone when many believe the UK are close to a recession.

It’s important when purchasing currency to analyse both currencies.Feel free to email me the currency pair you are trading (GBPUSD, GBPEUR, GBPCHF etc) the reason for your trade (company invoice, buying a property) and I will email you with my forecast for the currency pair drl@currencies.co.uk.

My area of expertise is property purchases and sales. Therefore if you need to purchase a foreign currency or you are about to complete on a sale, today is the day to get in touch to discuss your options and how we can save you as much money as possible.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you

The pound makes a minor recovery (Dayle Littlejohn)

For the first time in weeks the pound has had a positive day against all of the major currencies. Below is an outline of gains made across the board against a few of the major currencies and the difference on a £200,000 purchase compared to this morning.

GBPEUR +0.42% – additional €980

GBPUSD +1.19%, – additional $3,120

GBPAUD +0.95%, – additional AUD 3,220

GBPNZD +0.45%. – additional NZD 1,940

The reason for the shift Consumer Price Index also known as inflation exceeded expectation and was released at 0.6%, up 0.1%. Many analysts predicted a fall as investor confidence has fallen in the UK and if investors are not spending inflations numbers could therefore suffer.

Unfortunately I don’t believe this spike will last for long as UK Retail Sales figures released Thursday morning are set to decline. Therefore if you are buying a foreign currency taking advantage of the spike may be wise!

My area of expertise is property purchases and sales. Therefore if you need to purchase a foreign currency or you are about to complete on a sale, today is the day to get in touch to discuss your options and how we can save you as much money as possible. Feel free to email me the currency pair you are trading (GBPUSD, GBPEUR, GBPCHF etc) the reason for your trade (company invoice, buying a property) and I will email you with my forecast for the currency pair drl@currencies.co.uk.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **

Is the pound likely to recover? (Dayle Littlejohn)

Many economists pre referendum predicted if the UK were to leave the European Union the pounds exchange rates would plummet and economic data would deteriorate. One month later it seems the majority of economists were right.

Last week UK Prime Minister Theresa May started her talks with German Chancellor Angela Merkel and French President Francois Hollande. Talks seemed to ok with the German Chancellor however the French President made it clear, for the UK to trade for free in the single market, they would have to accept the free movement of people. This was the main reason the UK decided to leave the EU therefore one leader is going to have to back down and I believe it will be Theresa May.

The latest release of Markit’s purchasing Managers index has fallen to the lowest levels since April 2009. Manufacturing PMI fell to 49.1 from 52.1 and Markit’s Services PMI plummeted to 47.4 from 52.3. The data release suggests the UK are heading for another recession and therefore an interest rate cut and further stimulus (quantitative easing) is inevitable.

Looking ahead the UK have their next interest rate decision on the 4th August. With the PMI data release this week and the Monetary Policy Committee statement that they would loosen monetary policy if required, the pounds future for the remainder of the year is looking bleak. I expect sharp falls after August 4th.

Very simply if I were trading GBP into a foreign currency in the next 6 months and I had the sterling available there’s a good chance I would trade before August 4th. However the other currency you are buying might change my opinion.

If you have a currency exchange to make involving the pound it makes sense to explore all of your options. Here at Pound Sterling Forecast we understand every client’s situation is different, therefore we devise a strategy that meets your needs and requirements. As for exchange rates we can beat any UK brokerage or bank and I look forward to proving this to you. The clients I deal with are high net individuals, businesses and property buyers and sellers that are trading £10,000 to the multi millions.

Feel free to email me with the currency pair you are trading (GBPEUR. GBPUSD, GBPAUD) and the reason for the transfer (transfer of wages, property purchase) and I will respond with my forecast and the process of using our company. drl@currencies.co.uk

Enjoy the rest of your weekend and I look forward to speaking with you Monday morning.

GBPEUR Biggest SPIKE OF 2016

Sterling exchange rates have started to climb once more at the end of this week. Some good news at last for the euro buyers who have seen a terrible start to 2016 with losses of over 8% since the beginning of December.  These losses have been down to a number of reasons including the pushing back of any interest rate hike in the UK until 20017, the fall in commodity prices and indeed the continually improving economic picture in the single Currency.  We are now trading buying euros almost 3 cents higher in comparison to only yesterday morning.

If you want to take advantage of what will probably be a short term opportunity rather than a change in trend please contact myself STEVE EAKINS at hse@currencies.co.uk or on 01494-787-478

The reason for this climb has been down to a turn in speculators and in commodity prices. Generally what we have seen is the traders who have been speculating on the markets falling, who have mad e a lot of money doing so are selling their positions to recognise their profits. This change in demand as we see inflated sell positions have pushed rates up, however this is probably short term I think 1.40’s are long gone for maybe the rest of 2016 to be honest, certainly for the next 6 months.

Moving forward into next week there is a mixed view but what I am certain of is that in the next 7 days we are unlikely to see the kind of large swings we have seen in the markets through December already. There are a lot less data releases over next week which is why I can predict that with some comfort.

The next data release of interest is next Thursday, this is the first prediction of the UK GDP figures for Q4 of 2016.  This will be very interesting as up until December the economy was doing rather well. We will get the latest market predictions for this on Monday so if you want this information first, register your interest by sending an email to hse@currencies.co.uk

Moving forward I expect GBPEUR rates to stay range bound within 1.28-1.31, if you want some assistance in timing your trade, or access to our award winning exchange rates please contact myself, STEVE EAKINS via email at hse@currencies.co.uk or on 01494-787-478

Economic data coming up that may impact your currency exchange – Data for those with GBP,EUR,USD, CAD,CHF,NZD and AUD interest

Tomorrow morning to start the ball rolling we have U.K unemployment data which is expected to remain at 5.6% – Any change to this will lead to a volatile start to the morning for Sterling exchange rates.

I have outlined other important data of interest but I would say the main talking point of the week has to be the Federal Reserve Interest rate decision, monetary policy statement and press conference att released on Thursday evening at 19:00pm.

Speculators and investors around the world will be watching to see if there will be any movements in interest rates either imminently or in the coming months for the States.

Personally I feel this is a week where limit orders come into play for anyone looking to buy or sell currency during the course of the week. A limit order is where you can set a specific rate you wish to achieve with us and should it become available even for a matter of seconds then your currency will be bought out automatically for you and we will contact you to let you know.

The order can be canceled or amended at any time as long as it has not been achieved and a lot of my clients are using this handy market tool at present to try and squeeze that little bit more out of a volatile market.

If you are buying an overseas property or you have large business invoices to pay then it is well worth contacting me for more information on this free market tool.

We pride ourselves on not only giving our readers and clients regular market information but also helping them achieve the best possible exchange rates for their transfers. You can email me (Daniel Wright) on djw@currencies.co.uk and I will be more than happy to contact you personally to tailor a plan for your specific situation.

Other releases of note are below, likewise if you need further information on how these may affect you then email me on djw@currencies.co.uk

WEDNESDAY, SEP 16
10:00 EMU EUR Consumer Price Index (YoY) (Aug)
10:00 EMU EUR Consumer Price Index – Core (YoY) (Aug)
10:00 EMU EUR Consumer Price Index (MoM) (Aug)
14:30 US USD Consumer Price Index Ex Food & Energy (YoY) (Aug)
14:30 US USD Consumer Price Index (YoY) (Aug)
THURSDAY, SEP 17
07:35 JP JPY Bank of Japan Governor Kuroda Speech
08:30 CH CHF SNB press conference
08:30 CH CHF SNB Interest Rate Decision
19:00 US USD Fed Interest Rate Decision
19:30 US USD Fed’s Monetary Policy Statement and press conference
23:30 AU AUD RBA’s Governor Glenn Stevens Speech
FRIDAY, SEP 18
13:30 CA CAD Bank of Canada Consumer Price Index Core (YoY) (Aug)
13:30 CA CAD Consumer Price Index (YoY) (Aug)

I hope if you fine our market information interesting and useful you will give us a shot at getting you a better exchange rate than your current currency provider. We have helped over 5000 clients that have contacted us through this site and we would love to add you to that list of satisfied customers. Contact me (Daniel Wright) on djw@currencies.co.uk with a brief description of your needs (minimum £20,000) and I will call you personally.

 

Greek Banks have little Resources Left, A Deal is sure to be on the Cards (Daniel Johnson)

The  referendum “no” vote was meant to be used as a bargaining chip to be used against Greece’s creditors, however the strength of this bargaining chip is questionable. With Greece’s Finance Minister Varoufakis’s resignation a deal may be on the cards. The new Finance Minister Tsakalotos has a far more agreeable stance on coming to an agreement.

Greece’s banks are now down to less than €500m, emergency funds are needed sooner rather than later. A deal for a bail out could be coming very soon. If that is the case expect the Euro to strengthen over Sterling. If you have a Euro requirement it would be the safe option to get your trade done.

Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me at dcj@currencies.co.uk or call on 01494 787 478 and ask for Daniel Johnson.

Euro gains back a little strength as Greece may now accept terms – GBP/CAD spikes following poor growth figures (Daniel Wright)

We have seen a little Euro strength this morning as the Greek situation took one step closer to being resolved…. Well for the time being anyway!

Personally I feel all we are going to see is some papering over of cracks at best and this whole situation will no doubt be back in the headlines before we know it.

The only thing that is certain over the next week or two is that there will be some great buying opportunities and some fantastic selling opportunities for the Euro so if you are in the process of buying or selling a property overseas then it may be prudent to get in touch with us here. We have a number of free contract types than can help you to secure a rate should there be a spike or protect yourself again a drop in exchange rates should it happen suddenly. You can email me directly on djw@currencies.co.uk and I will be more than happy to contact you personally to explain how these work.

We have seen a great spike for those looking to buy the Canadian Dollar of late thanks to growth figures in Canada coming out a little worse than expectations and indeed dropping into negative territory at -0.1%.

Rates for Sterling against the Canadian Dollar are creeping towards the 2 mark and I feel this may now be a distinct possibility in the coming weeks.

if you are looking to exchange any major currency then I can assist you both in terms of assistance with timing and getting you a great rate when you do book it out. As above just feel free to contact me (Daniel Wright) by emailing on djw@currencies.co.uk with a brief description of your requirements and a contact number and I shall be more than happy to contact you personally to explain how I can help you.

 

Important economic data out tomorrow for those with an interest in Euros and Dollars (Daniel Wright)

Although quiet for the U.K tomorrow brings us two fairly important pieces of economic data from both Europe and the U.S with European growth figures and U.S Non-Farm payroll data due out at 10:00am and 13:30pm respectively.

The final revision for growth figures during quarter 4 of 2014 is due out at 10am and expectations are for the figure to have been revised up a little which may lead to a little Euro strength to end off what has been a torrid week for Euro exchange rates.

Later on in the day we have U.S Non-Farm Payroll data 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 have an upcoming transfer to carry out and want to get the best exchange rates along with great customer service and knowledge of the markets then email me (Daniel Wright) directly djw@currencies.co.uk I welcome all enquiries for bank to bank transfers however i’m afraid I cannot help with cash transactions or speculation.