Tag Archives: pound

Buying Euros and Dollars near four month high (Joshua Privett)

GBP/EUR and GBP/USD have seen their second consecutive day of serious gains on the currency markets, putting smiles on the faces of Dollar and Euro buyers who were biting their nails looking at rates only a few weeks ago.

The change over the past week is that gains on the markets are sticking. Short-term bumps upward had characterised the market place given the jumpy nature of investors in the run-up to the Referendum vote.

But the two-week period of almost total stability (for example when GBP/EUR barely changed between the 1.26-7 at the beginning of the month) has given greater confidence to the market-place. Normal trading patterns have re-emerged with traders at high street banks (the ones who move the volumes large enough to effect currency exchange rates) which has given the Pound a bit more life.

To summarise, relative stability has allowed investors to stay on the ship longer rather than bailing too early as the exchange rates in April proved many were prone to do.

The polls for the Referendum are still largely uncertain. The remain camp has been boosted (another factor in the increased stability), but the variation in polling results is still staggering.

Even individual polling companies are seeing stark difference simply on how polls are conducted. Ipsos-Novi found that on their recent telephone poll the remain camp were 8 points yet on their online poll the leave camp were up by 4!

Their is still quite a lot to play for, and when factoring in voter turnout rates anyone buying foreign currency using Sterling still be wary of this unprecendented period of volatility we are about to enter into when June and the heavy campaign season comes around.

As early as tomorrow morning the economic arguement is also set to eat into the recent gains made for buying Euro and Dollar rates.

Growth figures for the UK economy are to be released before lunch, and after April’s showing where the EU actually outpaced the UK, it is likely that we’ll see a similar drop in the Pound’s value. With no other releases before the start of the next month on Wednesday, this should continue to be the dominant narrative for GBP/EUR, GBP/USD, and GBP/AUD exchange rates.

I strongly recommend that anyone with a foreign currency requirement should contact me on jjp@currencies.co.uk. I have never had an issue beating the rates of exchange offered elsewhere and a brief conversation could save you thousands on your transfer.

If you detail your requirements, whether immediate or over the next few months, as well as the best number to reach you on, I can contact you before UK markets open in the morning to discuss your options in using a currency exchange brokerage and offer a live quote for any of the options which peak your interest, and comply with your risk appetite.

01494 787 478 – Joshua Privett

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.

Positive narrative for Sterling boosts Euro and Dollar buying rates (Joshua Privett)

Sterling had a very productive mid-week session on international currency trading, most notably with Euro buying rates  reaching above 1.30 for the first time since February.

Two consecutive days of positive economic sentiment were the driving force for this breath of fresh air for the Pound, which had been in a period of relative stability preceding the previous week. Again this was seen most evidently on GBP/EUR exchange rates, where average changes since the beginning of the year of 1.5 Cents daily gave way to almost two consecutive weeks of buying Euro rates trading within 1.26-1.27.

Certainly this was a relief at our office to see some stability given back to the market place, but we empathize with the multitude at that time who were faced with a difficult decision – where are the rates going to go from here?

This was partially answered mid-week by the gifted movements for anyone holding Sterling and who are considering purchasing a foreign currency. Positive retail sales, wage and employment figures produced a brighter view towards the UK economy and the Pound, a surprising phenomenon this close to the Referendum.

Yet the overwhelming consensus on the marketplace is that this is not the beginning of a new trend. Most of the positive data has been attributed to an un-seasonally hot April (albeit patchy) which allowed industries normally dormant until late May or June to wake early and start contributing to UK performance. This explains why a sudden rise in retail sales coincided with a rise in employment.

This positive narrative on the Pound is set to change next week, when markets are reminded of the stagnant growth figures currently being posted by the UK economy.

Last month was the first time in nearly three years that UK growth was outperformed by the Eurozone, growing 0.4% in the first three months of 2016 compared to that of the Eurozone who enjoyed 0.6% according to the Office of National Statistics. Another look at these figures from an independent body is set to confirm this on Tuesday and Thursday for the UK and Eurozone respectively.

Growth is key. Growth shows an investment is worthwhile, and without this vote of confidence the slide on buying Euro and Dollar rates which occurred on Friday after the two big days on Wednesday and Thursday are set to continue.

No-one thought that buying rates would see this resurgence ahead of the Referendum, particularly whilst vote splits are still close enough to be counted as in the margin of error. There was a net gain of 2 cents on GBP/EUR last week, 1.3 cents on GBP/USD, and 4.5 cents on GBP/AUD, which should not be sniffed at in this current market.

I strongly recommend that anyone with a buying Euro or Dollar requirements should contact me on jjp@currencies.co.uk.

If you outline your requirement and the time span within which you plan to, or need to, conduct this, then we can begin a discussion to determine the most suitable option open to you through a currency exchange specialist which suits you with a view to maximizing your currency return.

I have never had an issue beating the rates of exchange offered elsewhere, and a brief conversation could save you thousands on your transfer.

Euro and Dollar sellers can also get in contact to have a similar discussion, though my thoughts will sway towards waiting for the news next week to re-coup the losses incurred to you over the last week of trading. Certainly, with the near two cent losses on Friday’s trading for GBP/EUR in particular, the momentum is in your favour.

 

Boost to buying Euro and Dollar rates for second consecutive day (Joshua Privett)

The Pound has now broken through several benchmarks on most major currencies, with buying Euro rates breaching 1.30, and GBP/AUD now well above 2.0 for the first time since February.

The Pound’s recovery has caught the eye of many potential buyers. GBP/EUR was almost 9 cents lower only a month ago, GBP/USD has now established itself north of 1.45, and GBP/AUD has gained near on 20 cents in a single month.

A combination of political and economic factors are the root cause for this sudden turnaround.

Economically speaking the UK has had a fantastic few days with all of the good news of the month seeming to come out within a relatively short period. Wages, unemployment, and most recently this morning retail sales figures have seen positive news eclipse some of the UK’s questionable growth data released at the start of the month.

Furthermore, some confident strides ahead for the remain camp have made some investors a little more confident about the outcome of the looming Referendum. But the mistakes in the polls during the May election haven’t been forgotten, and with the traditional margin of error being plus or minus 3%, there’s still not enough conviction for Sterling to breach much higher for the moment, which explains why the Pound’s rally tailed off this afternoon.

With no economic news of note out tomorrow and no releases on the polls until next week, this very gradual negative loss on buying rates for anyone holding Sterling will likely continue as profit taking after the big movements this week governs changes in buying rates for Euros and Dollars.

Unless the Remain camp gains a hefty lead the Pound is likely to be coming under further pressure as we edge closer to the vote itself. With debates and speeches lined up for the beginning of the month, it’s fair to say that the heavy campaign season hasn’t even begun. Anyone waiting to buy foreign currency, particularly after the opportunities gifted to many buyers over the last 7 trading days, has to have a very strong economic argument if they are expecting many further gains on the marketplace in the short-term.

I strongly recommend that anyone with a Euro or Dollar buying requirement between now and Referendum should contact me on jjp@currencies.co.uk to start a dialogue around a strategy for your transfer in order to maximise your foreign currency return.

I have never had an issue beating the rates of exchange offered elsewhere, and a brief discussion could save you thousands on your transfer. These current levels available today can also be fixed in place for any planned transfers in the future to completely avoid the risk of waiting for the exchange rates available to you later in the year when you wish to conduct your transfer.

Anyone considering buying Sterling with a foreign currency can also do the same, and I will explain how best to approach the coming weeks to ride the expected movements in your favour to their completion.

Boost to Euro and Dollar buying rates from Sterling side (Joshua Privett)

With the Referendum looming, today may be one of the few occasions each month where we see rates move up from positive news on the Sterling side rather than poor news overseas to make buying Euros and Dollars alike a cheaper prospect.

Average earnings and a second look at the unemployment rate for the first three months of this year will be the main news from the UK early on this morning, which is likely why the Pound is already marginally up against most of its major currency pairings.

As this is a second look, essentially a revision now that more data has arrived, markets are not expecting heavy movements from this. But average earnings will likely be the main focus for the markets.

The data has been collated from April, and due to the emergence of sunny spells the retail and tourist sectors will likely have seen a bump. This is one of the more seasonal increases for the performance of the UK economy and thus a bit more certain than what currency markets are used to dealing with – explaining why markets are already beginning to move ahead of the event.

Euro buyers however will not be the clear winners today. Later on the Dollar will likely be coming under heavy pressure following the release of the most recent minutes from the FED’S meeting this month.

This is the meeting where they already chose not to raise interest rates once more, and markets are becoming increasingly disillusioned as none of the planned four interest rate hikes this year have yet to take place.  

Their most recent excuse has been due to the economic backlash of a potential British exit from the EU which is worth waiting to react to. After this, excuses about the looming election seem likely to follow. If very dovish tones are confirmed during the meeting then it’s likely GBP/USD will be recovering some of 4 cent losses recorded this month.

I strongly recommend that anyone with Euro or Dollar buying requirement should contact me today on 01494 787 478. Simply ask the reception team to be put through to Joshua and we can discuss a strategy for your transfer in order to maximise your currency return.

I have never had an issue beating the rates of exchange offered elsewhere, and current levels on exchange rates ahead of the Referendum can actually be fixed ahead of time, in order to avoid the expected falls on the currency markets as the vote looms closer.

Euro and Dollar sellers can also reach out to discuss how to buy at more favourable levels as June 23rd approaches. Dollar sellers in particular may be wise to reach out sooner rather than later, as the above describes that your situation is less clear cut. jjp@currencies.co.uk

 

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.

Where next for the Pound? (Dayle Littlejohn)

With the UK referendum campaign close to full swing expect sterling exchange rates to be up and down like a yo-yo.

Every time the ‘In’ campaign are well received by the British public expect sterling exchange rates to increase and on the flip side if the out campaign take the upper hand expect sterling exchange rates to fall.

However the general consensus is overtime sterling exchange rates will progressively fall up until June 23rd when the British public will decide the fate of the UK. If the UK remain part of the EU I expect the Pound to increase in value however if the UK were to leave I expect the Pound to plummet.

This week Governor of the Bank of England Mark Carney announced the UK could fall into another recession if the UK were to leave the European Union.

If you are buying or selling the Pound this year, (especially before June 23rd) feel free to get in touch to discuss your strategy which will maximise your returns. 

The currency company I work for enables me to achieve clients up to 5% better exchange rates than the high street banks and other brokerages. I specialise in property purchases and sales. Therefore if you are buying or selling a property this year and want to save money by achieving the best possible exchange rates but also want help in timing your transfer, get in touch by emailing me on drl@currencies.co.uk.

The more information you provide me, the more information I can provide you. Below is a list of what I require: your name, currency pair, brief description of requirement, amount, budget, timescales, telephone number and convenient time to call.

Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

 

 

 

 

 

Major headwinds likely for Sterling moving forward (Joseph Wright)

From this point onward its likely that ‘Brexit’ talks will dominate the headlines and really begin to drive the value of Sterling exchange rates as we approach the EU Referendum on the 23rd of June.

Yesterday there were some important news releases out of the UK, and despite there being no change to the voting patterns of the 9 Monetary Policy Committee (MPC) members with regards to Interest Rate changes, the subsequent news conference offered some insight into the concerns of the Bank of England should the public vote to leave the Eurozone next month.

Despite the use of numerous bearish terms and language within the speech afterwards such as ‘recession, deflation, rate cuts and rising unemployment’, Sterling actually gained on most major currency pairs as the markets welcomed the bearishness from Mark Carney and the MPC regarding a Post Brexit Britain.

Market reactions like this just highlight the importance of next months vote, and I think anyone with a currency requirement involving Sterling should be well aware how the markets are affected by Brexit based announcements and changes within the polls.

Personally, I’m expecting GBP to fall in the lead up to the 23rd of June and I consider the current levels to be quite favourable for those looking to convert GBP into the likes of the USD or the EUR as I expect levels in the lower 1.20’s for GBPEUR and in the lower 1.40’s for GBPUSD around the middle of next month.

If you are planning to use GBP to buy a foreign currency it may well be worth your time getting in contact with me (Joseph Wright) on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible. You can also call in and ask to speak with me on 01494 787 478.

Today is the day!

The outlook for the pound is not very good and today will be further news about just what to expect for the UK and the pound in the coming months and weeks. Uncertainty over the Referendum and worries surrounding recent economic data will become more apparent in the coming weeks and any acknowledgement of the trends by the Bank of England should see sterling slide. The Quarterly Inflation Report is likely to carry the most weight but there is an outside chance of a call for an interest rate cut which would likely cause the pound to lose value.

If you need to buy or sell sterling in the next year the Referendum will have an impact on the pound well beyond the 23rd June. Expectations are for a Remain vote but only just. It is far too close to call and the current levels should not be easily dismissed as we might have a whole different ballgame in 7 weeks time. The best way to predict the future is to create it and we do offer a range of options to help you capitalise on any big swings that we might see.

For more information on getting the best exchange rates and keeping up to date with the latest trends please email me Jonathan on jmw@currencies.co.uk

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.