Tag Archives: pound
Flat start to the week for Sterling exchange rates but what can we expect as the week evolves? (Daniel Wright)
A fairly flat day for the pound against most major currencies so far today, with Sterling trading in a very thin range against Euro, Dollar, Australian Dollar and New Zealand Dollar exchange rates.
We have had very little economic data out of note today however there are a number of other releases that are worth noting as the week moves on.
Tomorrow we have two key speeches from both the Governor of the Bank of England (Mark Carney) at 15:30pm and Head of the European Central Bank (Mario Draghi) an hour later at 16:30pm. Both of these may lead to a volatile afternoon for Sterling and Euro exchange rates.
Many speculators and investors will be watching every word during both of these speeches for any hints to future changes in economic policy and the market will no doubt move around extremely quickly should any hint to new changes arise.
If you have an exchange to carry out and you would like to be kept up to date with the action then feel free to contact me (Daniel Wright) by emailing me personally on email@example.com and I will be happy to get in touch with you.
Late on Tuesday night we have a flurry of inflation data which will be interesting for anyone with the need to buy or sell Australian Dollars, especially with the market rate for GBP/AUD hanging around the pivotal point of 1.60. Expectations are for Australian inflation figures to remain fairly static however any result that differs from this may lead to a sharp movement overnight. There are ways to take advantage of overnight movements in your favour, most notably a limit order where you request that if a certain rate of exchange becomes achievable at any point 24 hours a day then your currency will be bought out automatically for you. This contract type is free to use with us and can be extremely handy.
The Dollar and New Zealand Dollar take centre stage on Wednesday with lots of data out from the States over the course of Wednesday afternoon and then import, export and trade balance data out for New Zealand later in the evening at 22:45pm – Again a limit order may be worth considering overnight if you are close to your target rate and do not wish to miss out should a spike occur.
Thursday will be important for Sterling exchange rates as we have GDP (Gross Domestic Product) or growth figures out at 09:30am and then later in the day Durable Goods and Jobless Claims data out for the States which will impact U.S Dollar exchange rates.
We round the week off with lots of data our from all over Europe which will impact Euro exchange rates and then U.S GDP (Growth) figures to wrap up the week which can have an impact on all major currencies as it has an effect on global attitude to risk.
On top of everything we have the U.S election which will no doubt keep the Dollar on its toes so we have a lot for the market to digest throughout the week.
if you have a currency exchange to carry out either now or in the coming weeks and months then it is well worth getting in touch with me personally. I can help you not only ensure you get a market leading rate of exchange but also that you get an extremely high and award winning level of customer service too. You are welcome to email me (Daniel Wright) directly on firstname.lastname@example.org which will take you merely two minutes to do and may save you thousands of Pounds in the future. I look forward to assisting you.
Boris Johnson hitting the headlines on Sunday isn’t expected to muddle the chatter on currency markets next week, with buying Euro and Dollar rates set to benefit from a focus on economics over politics.
There is a host of data sets coming out from both within the UK and outside of it, with the positive or negative nature of the information set to sway the value of the currency attached to that particular economy.
Whilst Boris Johnson’s comments are inflammatory they will not be deemed by markets to alter the current course of the Brexit. This has been the major guage used on how recent political news has affected the value of the Pound.
With big announcements coming recently, the deadline for Article 50 in March 2017, and the very public spat between Theresa May, Merkel and Holland about what a future agreement between the UK and the EU may look like, it seems as if most of the curveballs which could impact the Pound in the short-term politically have come and gone.
With this in mind, we may finally see some of the positive news coming out of the UK economy begin to register on the currency markets.
We’ve already seen some promising hints to show the UK economy is weathering the storm of the Leave vote relatively well.
Despite the news about ‘marmite-gate’ and the pricing pressures forced on the UK with a weak Pound, business confidence in manufacturing, construction and the financial service sectors are recovering and in some cases surpassing what was recorded last year.
Firstly on Monday we have Eurozone inflation data which is expected to come in poorly as it has done quite consistently for a few years now. Conversely on Tuesday the UK has their own inflation data, which is expected to show a healthier reading closer the Bank of England’s 2% yearly target. Combined both of these data releases could see improvements on buying Euro rates in particular.
Furthermore, employment and wage data for the UK on Thursday morning could provide the additional support needed behind Sterling to see some improvement on GBP/EUR, GBP/USD, GBP/AUD.
With this hypersensitive market, opportunities can develop and evapourate quite quickly, and it is important not to be ‘last to the party’ in these situations as the flood of people buying a particular currency will suddenly make its price rise.
I offer a very proactive service to make sure my customers with an upcoming buying or selling Euro or Dollar requirement remain well informed currency purchasers.
I have never had an issue beating the rates of exchange on offer elsewhere, and if you are not a regular reader of this website I recommend noting that you can pre-book your currency for a future currency transfer using a small deposit.
You can contact me over the weekend whilst markets are closed on email@example.com or fill out the form below and I will be in contact as soon as I am able to to discuss the options open to you to safeguard your transfer and try to maximise your currency return.
Buying Euro and Dollar rates of exchange have entered Friday in a much more stable position compared to the sheer chaos caused in the early hours of last week with the flash crash in Asian markets.
That being said, the Pound is slightly down to begin the day against all major currencies, which is suggestive that speculation is still the dominant force governing the marketplace in this hypersensitive environment.
If you were not aware of the flash crash last week then your currency requirement must have only some up in the last few days. The Pound was battered by either a gigantic erroneous trade, or a severe miscalculation in automatic trading algorithms, in the early hours of Asian trading last Friday which caused a heavy deterioration on GBP/EUR, GBP/USD and GBP/AUD.
This was an artificially forced drop which the Bank of England are still investigating and markets have since recovered. However there was still a net loss, and such a crash was only possible due to the heightened anxiety surrounding the Pound since the announcement of a hard deadline from Theresa May for Article 50 by March 2017.
This anxiety has since been heightened by the likes of EU President Donald Tusk stating it’s either ‘Hard Brexit or no Brexit’ with both sides making markets nervous that no gentle exit will be able to be found.
To coincide with all of this, we are now entering another Friday and the abnormal trading patterns associated with this.
Each Friday almost like clockwork since the Referendum, the Pound has had a difficult time in the afternoon heading into the weekend due to profit-taking in the market place undercutting its value.
Whilst this was eclipsed by the added mania last week, this is still a persistent issue for Euro and Dollar buyers, likely more so with the currently panicked financial world.
Each Friday trader’s at high street institutions have to allocate their funds into a stable currency whilst they are away from their desks for the weekend in order to protect their capital. For obvious reasons the Pound is very low on this list of stable currencies which are in high demand during this period. As such the Pound is sold off during this period and its value falls off a cliff.
I strongly recommend that if you have a GBP/EUR, GBP/USD, or GBP/AUD requirement in the short-term to contact me this morning before the volatile period begins in earnest this afternoon to discuss how to protect an upcoming transfer from any adverse movements, and receive a competitive quote for your transfer.
I have never had an issue beating the rates of exchange on offer elsewhere, as such a brief conversation could save you thousands on an upcoming transfer. You can reach me directly by calling 01494 787 478 and asking the reception team for Joshua.
Euro and Dollar sellers can also get in contact to discuss the options open to you to seize any peaks which emerge in the time-frame you have to make your transfer in order to maximise your sterling return. As my argument above suggests, if I was in your position I would not be looking to move straight away.
You can also contact me via email on firstname.lastname@example.org or fill out the form below and I will be in contact as soon as I am able to:
The Pound remains on a knife edge against most major currencies at present, with sharp swings happening totally out of the blue. Today has not been so bad but as an example yesterday evening Sterling lost around 1% in value within an hour, only to gain the majority of it back by the time we came back to the trading floor this morning.
The rest of this week we have a fairly minimal amount of economic data out for the U.K but overnight there are plenty of releases from China which may impact the AUD and NZD along with a flurry of data from the States, not to forget the on-going U.S election which is really starting to heat up.
Next week we will see the U.K release of inflation, unemployment and retail sales data and those waiting for the Pound to get stronger will be hoping that these are positive and act as the catalyst they have been waiting for to pick the Pound back up off of the floor.
With so many violent and unpredictable swings happening it is more vital than ever that you have not only a currency broker helping you with your exchange, but a proactive and well experienced one as booking your rate of exchange at the right time or taking advantage of a spike in your favour can make the difference of thousands of Pounds.
This is where we can step in, there are many currency brokers out there that will say they offer the best rates but the majority are beatable and do not necessarily give you the best level of service. We like to think we do both and with over 100 years of experience between myself and all other writers on this site you would be mad not to give us a try.
Even a quick email to ask for a quote will take you just two minute to do and may make a healthy difference to the cost of your upcoming transaction. We deal with clients that need to buy or sell the Pound all day every day and help with exchanges from £5000 to mulit million transactions. Feel free to email me (Daniel Wright) on email@example.com with a description of your needs and I will be happy to contact you personally.
It was a terrible week for sterling exchange rates. GBPEUR dropped 4 cents and GBPUSD dropped 5 cents.
UK Prime Minister Theresa May announced that the UK will be invoking Article50 in March 2017 which started the initial drop.
Later in the week (Thursday night) the pound temporarily plummeted by 6% in a flash crash. Its been reported that automated trading caused the fall.
UK Chancellor Philip Hammond has exclaimed he believes the currency market will continue to remain volatile however has urged for people to remain calm.
Looking ahead I expect the pound to lose further value however I do not expect to see falls like we have seen this week.
Data releases which will have a major impact on exchange rates this week are UK Consumer Price Index Tuesday morning, Average earning Wednesday morning and Retail Sales Thursday morning.
If you are reading this website in order to find out information in regards to buying or selling the pound I can help you achieve the best exchange rates on the market whilst keeping you up to date with economic information.
Its important to analyse both currencies that you will be trading therefore I would recommend emailing me with the currency pair (GBPUSD, GBPAUD, GBPCHF etc) the reason for your trade (company invoice, buying a property) and I will email you with my forecast and the process of using our company firstname.lastname@example.org.
** IF YOU ARE ALREADY USING A BROKERAGE TO BUY YOUR CURRENCY IT WILL TAKE TWO MINUTES TO EMAIL FOR A COMPARISON AND I AM CONFIDENT I WILL BEAT ANY PRICE YOU ARE CURRENTLY RECEIVING **
This week UK Prime Minister Theresa May has been in the spotlight for many reasons. Earlier in the week she announced that the UK will be invoking Article50 and therefore starting the official process of leaving the EU. This caused the markets to get the jitters and the pound crashed against its counterparts.
In the last 24 hours it seems that she may have disagreed with Former Chancellor George Osborne economic plan of ‘balancing the books’ as she has exclaimed the UK need a fresh approach to economic management.
George Osborne’s approach was to make cuts to spending where he could and cut interest rates, which the PM has stated people with assets have got richer from where as people without have suffered. In my opinion this is a major change in sentiment which is a surprise. It feels like she completely disagreed with the Former PM and Chancellor however before she became PM she was happy to sit in the houses of parliament cheering on her former colleagues.
So if May’s new approach is to not worry about the deficit and to spend to improve the economy, the UK will have a larger debt and this could be another argument to why sterling exchange rates have plummeted again this afternoon.
All in all its not looking good for any clients holding onto sterling!
If you are reading this website in order to find out information in regards to buying or selling the pound I can help you achieve the best exchange rates on the market whilst keeping you up to date with economic information. Its important to analyse both currencies that you will be trading therefore I would recommend emailing me with the currency pair (GBPUSD, GBPAUD, GBPCHF etc) the reason for your trade (company invoice, buying a property) and I will email you with my forecast and the process of using our company email@example.com.
** IF YOU ARE ALREADY USING A BROKERAGE TO BUY YOUR CURRENCY IT WILL TAKE TWO MINUTES TO EMAIL FOR A COMPARISON AND I AM CONFIDENT I WILL BEAT ANY PRICE YOU ARE CURRENTLY RECEIVING **
Sterling exchange rates make a small recovery towards the end of the day – Light at the end of the tunnel or profit taking? (Daniel Wright)
The Pound had a slightly better end to trading today as we saw Sterling exchange rates rise across the board in the afternoon.
The question we now need to ask is was this movement down to the Pound starting to come back into fashion or was it down to a bout of profit taking from those who had made money from the recent Sterling weakness we have seen.
The next 24/48 hours will more than likely give us the answer in my opinion, if Sterling starts to make a recovery in the next few days then it may well be showing some resilience at last and this could be a sign that the Pound is indeed fighting back. Should Sterling drop away again in the next day or so then this may be a sign that movement this afternoon had been mainly attributed to profit taking and that the Pound may be in for another drop.
I personally feel that the Pound is currently undervalued, however it may still get a little worse before it gets better as the uncertainty hangs over the head of the U.K as we wait to see if we do find out any plans for how we will approach Brexit.
Friday we have an extremely important day for U.K economic data where we have manufacturing and industrial production, along with Trade Balance figures which will be key as to how the Pound performs during Friday morning trading.
Over in the States we have Non-Farm Payroll data which can impact all major currencies as it impacts global attitude to risk. The data measures the number of people in Non-Agricultural employment (due to the seasonal impact on agricultural employment) in America and predictions can be fairly wrong. Because the markets price in expectations in advance, when they are widely wrong the currency markets do start to correct themselves swiftly which can lead to sharp markets straight away.
If you are looking to make a currency exchange either now or in the future then it is well worth getting in contact with me directly. I can help you both with achieving an extremely favorable rate of exchange when you do buy along with helping you time when you buy which can be even more important. Just over the course of this week buying €400,000 has fluctuated in cost by over £10,000!
Feel free to email me (Daniel Wright) on firstname.lastname@example.org with a description of what you need to do and I will be more than happy to get in contact with you personally to discuss the options available to you.
Sterling has a bad day against all major currencies – Article 50 announcement leads to sell off (Daniel Wright)
The Pound started off the week on the back foot against all majors today following the announcement over the weekend from number 10 that we the U.K would have invoked article 50 by the end of March 2017.
It does appear that Britain may be heading for a ‘hard brexit’ which may be more focused on controlling immigration and law over being involved in the single market.
This news has been taken badly by investors and speculators and this has indeed led to the Pound dropping away and well and truly falling out of fashion.
On top of this we also have an increased probability that we may see further stimulus from the Bank of England which also is seen as a negative for the Pound too.
A lot now really hangs on how economic data comes out in the next week or so as we start to see the release of data from September.
U.K Construction data is released tomorrow morning followed by data from the services sector on Wednesday, both have quite an impact on the overall growth figures for the U.K economy so may set the scene for the coming weeks.
I actually still feel that the result of the referendum has not hit as hard as many had thought it would so I would be surprised to see anything dramatically terrible but it would still be sensible to keep a keen eye on the markets at 09:30am over the next two days.
On top of this we have the RBA interest rate decision overnight tonight and the Deutsche Bank issue which is sure to remain ongoing.
If you have a large currency exchange to carry out either imminently or in the coming weeks then it is essential that you use an experienced currency broker that will help you every step of the way. I have helped thousands of people in your position and even those that thought they were getting an unbeatable rate elsewhere were surprised that they could actually make a saving by speaking with me.
Feel free to get in touch with me (Daniel Wright) by emailing me on email@example.com and I will be more than happy to get in touch with you personally.