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Sterling exchange rates still looking shaky as we await news on Supreme Court – On the plus side a trade deal with New Zealand may be agreed (Daniel Wright)
As most of our regular readers will be more than aware, Sterling exchange rates have had a pretty torrid time this week, with the pound dropping to its lowest point on a trade weighted basis since October.
We have seen Sterling almost drop below 1.20 on against USD, 1.13 against EUR, 1.60 against AUD, 1.70 against NZD, 1.20 against CHF and it is sat below 1.60 against the Canadian Dollar as I write this!
The uncertainty caused by comments from Prime Minister Theresa May over the weekend and during the week are still causing investors and speculators to remain shaky over the Pound, and economic data has not done anything to provide a backup like it has been over the past few weeks.
The key talking point now is just what will the Supreme Court decide to do? As previously mentioned this decision matters a huge amount not only because it will show us what the next steps will have to be for article 50 being invoked, but it will also more than likely lead to lots of MP’s having their say afterwards and every single comment has the potential to move the market considerably.
On Tuesday we also have Prime Minister Theresa May speaking about Brexit, which makes me wonder whether or not she is expecting to have a result from the Supreme Court before then, if we do then Sterling is set for an extremely busy week.
One positive for the Pound today was news that we appear to have all but agreed a trade deal with New Zealand, and it appears that this is ready to go as soon as possible after Brexit. A number of major economies are stepping forward and happy to do business with the U.K which is no great surprise to me.
More and more good news like this that comes out during this long winded process should only lead to the Pound getting stronger, we just need to get over the potential banana skin of the Supreme Court and Article 50 being invoked first.
If you are in the position where you need to carry out a large currency exchange either imminently or in the coming weeks and months then it is extremely important to have an experienced and proactive broker on your side. Most brokers out there will only try and convince you to buy or sell your currency as soon as possible but we are here to help you try and make the right decision for you.
Should you feel that I could be of assistance then I deal with both business clients and private individuals that need large currency transfers and would be more than happy to help you too. I created this site over 7 years ago and have helped thousands of clients that have contacted me save money over their bank or current broker.
All you need to do to make a simple enquiry is to email me (Daniel Wright) the creator of this site on email@example.com with a brief overview of what you need to do and I will be more than happy to contact you personally.
So another referendum is due to happen this weekend, this time over in Italy. Unlike the recent one in the U.K this is not a vote to leave the EU but a vote on constitutional reform.
This is extremely key as it may result in another heavy bout of uncertainty for Italy should the vote got the wrong way for Prime Minister Matteo Renzi, who has already warned that should the vote go against him and stop him from making certain changes that he feels he need to make then he would be looking to step down.
We already have various economic issues for Italy, most notably the banks who appear to be struggling and walking a bit of a tightrope, so should we then see huge political uncertainty added to Italian woes then the Euro may have a bad start to next week and you may potentially see GBP/EUR exchange rates go above 1.20 again in trading early next week.
Considering exchange rates against the Euro were lingering around the 1.10 mark merely a few weeks ago, anyone looking to buy Euros must be looking at the markets with a small smirk on their face as their pending purchase has got a lot cheaper recently.
Sunday night/Monday morning will be the next point of interest for anyone with a Euro interest and with so many other large decisions pending within Europe over the next few months I firmly believe the next 12 months are going to be extremely testing for the Euro.
We cannot forget there is also an election in Austria this weekend too with the far right party holding a great chance of success, causing more issues politically within the area.
All of these referendums and elections will impact all major currencies as we will see alterations in global attitude to risk, so the perceived ‘riskier’ currencies such as the AUD, NZD and ZAR may lose strength and those that are perceived as safer havens may gain ground if results cause uncertainty.
If you have any currency to exchange, no matter where you are based then we can help you out here. Should you wish to have a friendly, proactive and experienced broker on your side then we always welcome new clients to get in touch. I have personally been assisting clients moving money overseas and bringing money back for nearly 10 years so you can be confident that your transaction will be dealt with smoothly, securely and at the best rate of exchange.
Feel free to email me (Daniel Wright) on firstname.lastname@example.org should you be in this position and I will be more than happy to contact you personally. I look forward to speaking with you.
Well dear readers, the pound has fallen considerably in 2016. According to Bank of England data the Pound Sterling TWI (Trade Weighted Index) has fallen by over 10% this year. Looking at all the events up ahead this trend could easily continue as other currencies find favour and investors dump the pound.
2016 was always going to be a tough year with the UK Referendum and Chinese market worries predicted to impact exchange rates. With the UK economy we have a number of worries to look out for including the lower GDP than the rest of the world and the strong likelihood of very low Inflation. This all points to a much weaker pound in 2016 than the last year!
Next week we have the latest UK Inflation and Unemployment data but there are other important releases from around the world which will impact GBP exchange rates. Notably Eurozone Inflation data on Tuesday and then the European Central Bank (ECB) Interest Rate decision and Press Conference on Thursday. If buying or selling Euros then this release will be very important to you. The Euro has improved buy over 12 cent against sterling in the last 6 weeks, this trend is causing headaches for Euro buyers and is present unbelievable opportunities for clients selling Euros for pounds. If you are selling Euros following a property sale in the Eurozone and wish for some assistance with the planning and execution of any deals please email me email@example.com for more information which I am sure you will find very useful.
GBPEUR Range for January 1.25-1.33 GBPUSD Range for January 1.36-1.45 GBPAUD Range for January 2.01-2.10 GBPNZD Range for January 2.15-2.25
The USD is now at a 6 year high against the pound which is a level which could yet improve. A 12 year low on Oil prices is worrying global investors who are buying the USD. This trade by investors is being made yet more attractive by the prospect of the US raising Interest Rates again in the future.
All of these events are construing to cause the pound to lose lots of value. If you are buying or selling the pound the market is still adjusting to the worries surrounding the UK Referendum and trying to make sense of events in China. These events are not going to just disappear overnight so making some plans and understanding your options is more important than ever. For a quick evaluation of your situation and analysis of some options that might suit you best please email me Jonathan on firstname.lastname@example.org
I have worked as a specialist currency broker for 8 years assisting private clients and businesses with their international currency exchanges. I am very sure I can offer you some useful information which will help you in any decision making plus offer a rate which will save you money over other options. Even if you have a system in place double checking your rate and getting a second opinion could be worthwhile.
I look forward to hearing from you!
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 email@example.com 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 firstname.lastname@example.org
|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 email@example.com with a brief description of your needs (minimum £20,000) and I will call you personally.
The Chinese impact on sterling exchange rates has been fairly pronounced with exceptional volatility on the stock market and also the pound. Essentially the worries in China have stoked fears that the UK will not be raising interest rates any time soon, perhaps for years! This has weakened sterling as investors seek alternative investments with their money. The volatility in the market is truly exceptional as everyone awaits China’s next move which could very easily tip the scales one way or the other. I expect the pound is going to continue to suffer and that anyone who needs to buy a foreign currency with the pound should move sooner rather than later.
What happens next will be largely determined by the Chinese who are key to making an impact on financial markets. If you wish to buy or sell the pound please get in touch with us to learn more about the latest forecast. Economic data has been quite positive for the pound in the last month increasing expectations the UK would raise interest rates. However the latest Chinese developments have really upset this balance presenting an amazing opportunity to buy the more risky currencies such as the Rand, AUD and NZD.
We are currency specialists here to assist in the planning and execution of your currency transfers. If you wish for a quote please fill in the form and we will be in touch immediately to work with you to help you get the best deal. Please contact me Jonathan on firstname.lastname@example.org to learn more.
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 email@example.com 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 firstname.lastname@example.org 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.
Greek elections show Syrizia victory – Further Euro weakness
Well we have certainly seen an extremely busy start to the year as far as the currency markets go and this weekend did not fail to add to the drama.
Yesterday Greece voted in favour of the far left group Syrizia who have been saying throughout the campaign that they would aim to re-negotiate the Greek debt package. On top of this they have also suggested even looking to leave the Eurozone which would cause even further problems in an already stumbling economy.
What this brings is yet further uncertainty to the Euro both politically and in an economic sense which can tend to weaken a currency fairly significantly.
If you also consider the fact that it was only last week that the Eurozone introduced a huge QE (Quantitative Easing) plan then it is absolutely no surprise at all that the Euro has found itself well and truly out of fashion and has weakened significantly this year against Sterling and the Dollar.
As it stands it would cost almost £8,500 less to buy €200,000 today than it would have cost at the turn of the year which is certainly nothing to be sniffed at.
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 to email me (Daniel Wright) directly on email@example.com with a contact number and I will be more than happy to call you personally.
Dollar breaks 1.50 – Antipodean weakness
Trading on Friday also saw Sterling drop through the 1.50 mark against the Dollar and I personally would not be surprised to see this run continue. In times of global uncertainty the Dollar can quite often become the main benefactor and it appears that this is happening again. On top of this the antipodean and perceived ‘riskier’ currencies (AUD, NZD and ZAR) are starting to weaken off again.
With Europe finally showing huge cracks appearing and more uncertainty than England’s batsmen in the cricket, along with terribly sad news over the weekend that Islamic state have now potentially killed a Japanese hostage there is a huge shift in global attitude to risk so a flight to safety to the Dollar is well and truly underway.
GDP figure for the U.K due out on Tuesday
Apart from the fallout from one of the most important weeks in the history of the Euro one key piece of data for the U.K is due out on Tuesday morning at 09:30am. The release is our GDP (Gross Domestic Product) figure for the last quarter of 2015. GDP basically measures how much an economy grew or shrank during a specific period and expectations are for the quarter to have shown a slight drop from 0.7% to 0.6% so any change to this may lead to an extremely volatile day for the Pound to add to what is lined up to be an exceptionally busy week.
GBP EUR The Pound has still remained fairly range bound against the Euro over the past week of trading even with the vastly expected interest rate cut from the European Central bank yesterday afternoon. I would imagine this cut would have already been priced into the market. Sterling Euro exchange rates are still very close to a 16 month high so if you are looking to send money overseas for a property purchase or any other reason, then now is still a great time to buy.
GBP USD Again fairly static, the Pound has failed to make any major movements against the Dollar throughout the week, making minor gains yesterday following the ECB announcement.
We do have U.S Non-Farm payroll data due out today at 13:30pm which can actually be quite a large market mover. Non-Farm Payroll data measures the number of people in Non-agricultural employment over in the States and can actually have an effect on all major currencies as it affects global attitude to risk so this is one to watch out for.
GBP CHF The Swiss Franc took a bit of a hit during the course of trading yesterday afternoon due to the ECB announcement and moved by over 1% creating a small buying opportunity. Indeed the rate has already come all the way back down which still suggests that the Swiss Franc is well in favour so may come back a little in the coming weeks.
GBP AUD Seemingly at a pivotal point of 1.80 at present, the Pound and Australian Dollar are having a battle which is much less one sided than the Ashes. Personally I still think the Pound has gains to make in the coming months however this is one to approach with a little caution as calls for AUD weakness by the RBA and Government do not quite seem as rife as a few months back.
GBP NZD Sterling has made good gains against the New Zealand Dollar recently edging closer to the psychological level of 2 NZD to the Pound. Personally I would be tempted at placing a limit order at this level if I had any currency exchange to carry out involving buying New Zealand Dollars. A limit order is where you can set a particular level that you wish to achieve and should this level become available at any point 24 hours a day then the currency is bought out automatically for you, very handy with a currency pairing that can make sharp moves overnight!
GBP ZAR The Pound has edged closer to 18 in the last week or so, this currency pairing really is moving around a lot on a day to day basis though so you must be wary that within the matter of a few days the exchange rate has been moving by quite a few per cent.
Data out next week to watch out for:
Industrial and Manufacturing figures for the U.K @9.30am
NIESR GDP Estimate @ 3pm
U.K Unemployment figures @ 09:30am
New Zealand Interest Rate Decision @ 10:00pm
Australian Unemployment figures @ 02:30am
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.
If you feel I could be of use to you for any upcoming currency exchanges then feel free to email me directly on firstname.lastname@example.org and I will be more than happy to call you personally. The company I work for can better exchange rates of others and I pride myself on an efficient personal service.