Tag Archives: pound
After initial wobbles early this morning, sterling has consolidated its gains before the Easter break. Most UK news of late including retail figures and unemployment, has all been exceptionally good, allowing the pound to make headway against most of the majors. However the gains are being limited by the fact the Bank of England is still highly unlikely to adjust interest rates before the second quarter of 2015.
The UK markets will be closed tomorrow and on Monday, however many other countries will be open for business as usual so we could still see some movement although I suspect sterling will be reasonably well supported because of the recent jobs news. We have Australian next Tuesday evening so I am hoping we can break back into the 1.80 barrier for GBP AUD, and whilst European inflation figures recently were just about passable, I am hopeful that next week’s Markit PMI could trigger further weakness for the single currency.
If you are likely to need a currency transfer in the near future and would like to discuss how best to go about it then feel free to email Colm at email@example.com and I would be happy to explain how our services work.
As we head to the long Easter weekend the pound has begun to show some signs of positivity, notably against the Euro and US dollar with rates at a near four year high against the greenback. Prior to this the pound had seen some volatile times against a host of currencies and in particular the Australian Dollar and New Zealand Dollar.
In fact earlier this week the pound was trading at its lowest level against the Australian Dollar since November last year having shifted over 7% from the highs of January. This makes a difference of 24k AUD in a little over three months on a £200k money exchange. Looking at other currencies and the market is also proving very volatile against the NZD having shifted over 5% since February and the ZAR with the pound being some 6% down on this year’s high of 18.81.
Since these lows the pound has shifted back towards 1.80 against the AUD following strong UK unemployment figures yesterday which are now below the 7% level sitting at 6.9% and the sentiment coming from the RBA minutes that maybe they are not as comfortable as originally suggested with the current value of the Australian Dollar. For me this pair is now likely to settle around the 1.80 range.
To finish off the working week the UK has little in the way of data releases with initial jobless claims from the US at 13:30 the major data of note. Should you need to get anything locked in before the Easter weekend then there is still time. Registration is free and carries no obligation and can be done on-line all in a matter of minutes. Contact the office on 01494 787478 or email Mike firstname.lastname@example.org
Good afternoon Readers! The pound is at some truly excellent levels currently, levels that should not be easily dismissed in the hope of much better rates. If you need to buy or sell currency there are a few pointers to note that will make your life easier and your wallet heavier!
Accept that you will not get the ‘top’ or the ‘bottom’ of the market. All too often I am managing one of my client’s currency exposure and they base all their calculations on a recent high. So for example selling Euros to buy pounds at 1.19 or buying Euros with pounds at 1.22. If you do this you are likely to be disappointed. Speak to me about what is a more realistic rate to achieve by calling 01494 787 478 or why not email me email@example.com
Do your research! There can be major difference between the exchange rates offered by banks and currency brokers like us. But there can also be major differences between the rates offered by different brokers. Here at poundsterlingforecast.com we seek to undercut other brokers and on large volumes the differences can be significant.
GBPEUR is currently 1,2131, GBPUSD is 1.6751, GBPAUD is 1.7921 and GBPCAD is 1.8261
Getting the best exchange rate on a large volume currency transfer (£10,000 +) makes a big difference to the amount you receive. If you are transferring a sum of this size and want to learn the current forecast please contact me on firstname.lastname@example.org for the very best rates and latest news on what will move your rate!
Sterling has had a strong day against a host of currencies following a strong showing this morning for UK industrial and manufacturing figures. Both were much stronger than forecast setting the tone for the day with the pound rallying to a high of 1.2145 against the Euro and 1.6755 against the US dollar. Sterling was also to find some support following this afternoons NIESR (National Institute for Economic and Social Research) latest GDP estimate which has pushed its latest estimate from 0.8% to 0.9% This bodes well for official GDP data scheduled for release later this month.
Looking ahead to the rest of the week and tomorrows FOMC minutes will be the next main area to focus on. This will give insight as to future monetary policy and what the FED may have in store relating to future tapering of QE and interest rates. This can have a big impact on risk appetite and can prove to be a volatile time during and after its release. These will be made publicly available at 19:00 tomorrow.
Looking ahead to Thursday and the ECB monthly report will be the focus as this contains a detailed analysis of the prevailing economic situation and the risks to price stability. It also provides articles on a wide range of topics related to the tasks of the ECB and hence clues can be given as to future policy. With the current deflationary pressures in Europe this will be of particular interest, any clues as to whether they may consider an interest rate cut and this could see further pressure on the Euro.
Following the ECB monthly report at 09:00 will be the Bank of England interest rate decision at 12:00. Rates are expected to remain on hold at 0.5% and I would expect little impact on the pound as a result.
For me the pound is currently representing some good value trading at a one month high against the Euro and a near four year high against the greenback. To take advantage and find out more about the currency service we provide then please contact the office on 01494 787478 or email Mike at email@example.com
Sterling has pushed through 1.21 this morning continuing on from yesterday afternoons post interest rate decision from the ECB. Yesterday there was a outside chance that Draghi may have cut interest rates to counteract the deflationary pressures within the Euro Zone, however he refrained from this but commented action would have to be taken should deflationary pressures continue. He was a little unclear as to what policies would be used with him suggesting ‘extra measures’ would be used. What these would be is a little unclear but he did not rule out printing of money and an interest cut still has to be a real option. This is likely to keep pressure on the Euro and could result in some good buy opportunities for those that are on the ball. Anyone selling may wish to act sooner rather than later.
Today there is little data of note from the UK and Europe today and focus for the pound will be industrial and manufacturing figures on Tuesday morning released at 09:30.
Looking at the US dollar and this afternoons non-farm payroll will be the focus. Data will be released at 13:30 and can cause some significant shifts on the market across the board as it is a clear indication as to how the US economy is performing and can have an impact on global risk appetite. This can cause shifts for the riskier currencies such as the AUD, NZD and ZAR. Should you have a trade to arrange with any of these currencies non-farms could be one to avoid.
Should you have an upcoming fx transfer to arrange and you would like assistance getting the best deal on the market then contact the office on 01494 787478. As a specialist foreign exchange provider we have multiple contracts available to help maximise your exchange or protect yourself against adverse market movement. To discuss the current market and the service we provide then please email Mike at firstname.lastname@example.org
The pound has been range bound against many of the majors so far this week with rates hovering around 1.2050 against the Euro, 1.6650 against the USD & 1.80 against the AUD. With very little data out during the early part pf the week for the UK eyes have been firmly set on data from Europe and the US to drive global markets. Having said this the UK did post some fairly poor manufacturing data yesterday and if we see the same trend for the construction sector today the pound could be in for another day of losses.
We are also expecting the GDP figures for the Euro zone out at 10.00 am this morning. We are not expecting any significant change in the number so GBP/EUR may be flat on the day. Tomorrow though the ECB will announce their latest interest rate decision for April. With the rate of inflation still falling within the single currency many analysts are calling for the central bank to cut interest rates to combat the fall in inflation. It has been a similar theme over the last 2-3 months and the ECB have stated in the past that they are not overly worried about the inflation rate and that things will settle down on its own accord over time. These comments in the past have gone to strengthen the Euro and if the same happens tomorrow we could see further EURO strength. Also keep an eye out for the retail figures which will be released before the interest rate decision tomorrow morning. This could bring a window of opportunity between the two releases.
I hope you enjoy our informative posts to help you judge when you should be looking at converting your funds. There is no set rule as to when is the best time but if you do have a requirement to buy or sell the pound then I will be delighted to help you try and judge when to look at your conversion. If you are reading the info here and were planning on using your bank why not let us give you a quote to show you what the savings can be over the high street banks. The savings can be significant as this is a volume driven business and due to the volumes we exchange we can normally beat the banks time and time again.
If you are in the situation needing to move money internationally and looking for the best price – please feel free to contact the author – Ben Amrany – via the telephone number at the top of the page or via email at email@example.com
A busy start to the week for economic data brings us quite an interesting Monday for those looking to buy or sell Australian Dollars, Euros, Canadian Dollars or U.S Dollars.
Firstly overnight tonight we have Australian New Home Sales data which may lead to the Australian Dollar moving swiftly before we get onto the trading floor so if you are looking to buy or indeed sell Australian Dollars this may kick start your week if it falls the right way for you. We are currently hovering around what I feel is a pivotal point at 1.80 and with this pairing being extremely volatile day and night it may be prudent to set up a limit order or stop loss to take advantage of any spikes in your favour or to protect you from adverse market movements while you are asleep. Email me directly on firstname.lastname@example.org for a more detailed explanation of how these handy and free contract types work.
First thing in the morning we have U.K mortgage approvals data, which with thanks to the help to buy scheme here in the U.K have been fairly healthy lately and could put the Pound in favour right at the start of the day should this continue.
A little later at 9am we have some key European inflation data where we may see a minor drop, I feel this could be Euro negative but it is certainly one to watch.
At lunchtime we have Canadian GDP (Gross Domestic Product) figures which will show Canadian growth- After seeing a negative figure last time around they will hope that growth in January what this is for has improved otherwise it could give the Canadian Dollar a tricky week and it may weaken again.
Later in the day we have Janet Yellen speaking along with a flurry of data throughout the afternoon. With Yellen’s recent comments being fairly positive and leading to Dollar strength I feel they may be reiterated and the Dollar could have a strong end to the day.
All in all tomorrow is certainly one to watch and could finish off the month with quite a bit of movement, we also have month end flows which could lead to sharp currency movements without any prior warning so make sure you keep one keen eye on the markets.
If you are looking to buy or sell foreign currency for a bank to bank transfer then I can help you both in terms of getting award winning exchanges rates and a high level of customer service. The company I work for specialises in saving clients money over the banks or other brokerages and I would be happy to add you to my list of satisfied clients. I help with transfers ranging from just a thousand Pounds to multi million Pound transactions. Feel free to email me directly if this is of interest to you and I will be happy to get back to you personally. You can email me on email@example.com - I look forward to hearing from you.