Tag Archives: rates
Sterling exchange rates await key inflation data this morning – What may happen to the Pound?
Sterling exchange rates are once again still fairly flat against the majority of major currencies, as we await inflationary data due out at 09:30am this morning.
Inflation data is key at the moment for the bank of England and it appears to be a thorn in their side, should inflation creep up too high we could start to see big calls for a interest rate hike as this is a route that can be taken to tackle high inflation. An interest rate hike is generally seen as positive for the currency concerned and a rate cut is seen as negative so this could lead to a little boost for the Pound.
Tomorrow is also key, we have the Bank of England minutes from the last interest rate decision (the first since being out of recession) and any indications of rate hikes or quantitative Easing may lead to a volatile Wednesday morning for the Pound.
Do you carry out currency transfers and find our information useful? Did you know we can help with currency exchange as well? We can get award winning rates of exchange and also offer a great level of customer service for bank transfers ranging from £1000 to multi million Pound transactions. Email me today djw@currencies.co.uk with a brief description of what you are looking to do and I will be more than happy to assist you.
Pound Sterling exchange rates – Once again Thursday is the day that may be key (Daniel Wright)
Sterling exchange rates have been reasonably static lately against the major currencies however tomorrow has the potential to be quite a market mover.
We have Australian unemployment figures out overnight tonight followed by Industrial and manufacturing production figures for the U.K tomorrow at 09:30am. The unemployment figures have the potential to shift rates against the Australian Dollar and the production figures may affect the Pound against all majors.
Most importantly we have the Bank of England interest rate decision and any further news on more Quantitative Easing will be extremely key. For those of you that have follwed the market over the past few years it seems that every time Sterling is performing well and heading into the right direction the Government or the Bank of England step in and do something to knock it back down again so you must be aware this is the perfect time for them to do so.
Should tomorrow pass without any surprises I think the Pound may be set for another positive month now that the potential recession is out of the way and focus has turned to other troubled economies hopefully Sterling will become a currency of choice once again.
If you have an upcoming currency transfer involving buying or selling the Pound then feel free to contact me directly as I can assist you with not only getting the very best exchange rate but also a full round service of making the transaction as smooth as possible. If this sounds of interest then please email me directly djw@currencies.co.uk with a brief description of what you are looking to do and I will be more than happy to assist you.
Pound Sterling exchange rates against the Euro – Will we see an interest rate cut today? What effect will it have? (Daniel Wright)
Today is a big day for Europe as we may potentially see an interest rate cut which could lead to further weakness for the Euro.
Exchange rates for the pound against the Euro have remained fairly steady since the big push up following the issue in Cyprus however today has the potential to move rates onwards and upwards once more.
Of course, with so much speculation that this is going to happen there is a huge risk that if we do not see a cut in rates then we may see the Euro gain a little strength quite rapidly as the markets correct themselves – If you have a pending transfer to carry out involving buying or selling the Euro then it is key that you are ready to act fast.
If you would like me to get in touch personally following the decision then feel free to email me djw@currencies.co.uk with a brief description of what you are looking to do and a contact number for me to call you on.
We also have some construction figures for the U.K this morning which could give a nod to how the second quarter started for the U.K in 2013 -This could affect the Pound against all major currencies – We are currently at an 11 week high to buy the Australian Dollar and Canadian Dollar which does lead to a great temptation to buy these particular currencies in case we see nthe rates slip back down again.
Personally I think Sterling confidence is up and the Pound may well start to creep in the right direction as I have been saying since the start of this year, however you must also be aware that the pattern tends to be that as soon as Sterling looks like it is finally about to push on something comes out to knock it straight back down again.
If you want to achieve the very best exchange rates, or even to ask me if the rate you are being offered is good before you accept it then feel free to get in touch with me directly – You can contact me by email djw@currencies.co.uk or call me directly on 01494 787 478 during U.K office hours, please ask for Daniel Wright.
U.K GDP figures better than expected!
Wow, what a busy day on the markets and indeed on our trading floor following much better than expected GDP (Gross Domestic Product) figures released for the U.K.
The Pound has gained against all major currencies as figures released were much better than expected coming out at 0.3% growth instead of the expected 0.1%.
This has provided a great buying opportunity for anyone looking to buy foreign currency – If you have a pending currency transfer to carry out then feel free to call me immediately djw@currencies.co.uk with a brief overview of your requirement and a number for me to call you back on. We specialise in getting the very best rates of exchange for bank to bank transfers so it is worth sending a quick email over for a comparison against your bank or current provider, we may save you hundreds if not thousands.
Why not join our mailing list too, I keep clients fully up to date with market movements and offer an extremely proactive service ensuring you can get on with your busy day without having to worry about what is happening on the market – we do that for you.
Once again, djw@currencies.co.uk is where you can make an enquiry – I look forward to hearing from you.
Will the UK avoid a recession, pound sterling forecast, euro rate forecast, selling euros, buying euros (Steve Eakins)
This week GBPEUR rates have swung by over 1.5% meaning a well-timed trade could have saved you £2,500 on a €250,000 purchase. This swing was down to a change in risk appetite and yesterday’s speculation on Quantitative Easing both in the UK and the Eurozone, read more here.
Rates of exchange today will probably be driven from news coming state side as US non-Farm Payroll is released at 13:30 BST. This provides an update on the state of employment in the USA publishing the amount of new jobs that have been created, the markets are expecting a figure around 140,000. If this is confirmed I expect GBPEUR rates to climb as money is moved from Europe to the US making the euro cheaper to buy. This will probably result in the rates going up by around 0.5% (For a full explanation on what is driving your rate of exchange today please call +44 (0) 1494 787 478, or email me, Steve Eakins at hse@currencies.co.uk)
Next week eyes will be closely fixed on the UK with data being released on Tuesday afternoon probably the most influential. This is when the first estimates are released for UK Gross Domestic Product Q1 2013. The reason why this is so key is because if the figure is negative, representing a contraction in growth, the UK will technically be in a recession once more. This would make the UK the first in the Eurozone to have fallen into a Triple Dip Recession, which as you can probably imagine will be seen as negative resulting in heavily losses for the pound. I would expect to see losses upwards of 2 cents adding perhaps as much as £2,300 on a €150,000 purchase so this is something anyone with a currency need should be very wary of.
The strategic options you have can be summarised into three options;
- Buy beforehand to avoid the risk,
- Limit your exposure by splitting your trade and buy some before and after,
- Roll the dice and trade after the release.
My view is that the UK will have probably avoided a recession but don’t assume that if that is confirmed rates will climb significantly, in that situation rates will probably stay steady or only gain by a small degree perhaps 0.5% at most. As a result the expectations on the FX market is for rates to either climb a little or drop a lot. This makes it an easy decision for Euro Sellers but for buyers of the single currency it is perhaps a more difficult decision to make. Buyers may like to be reminded that we are currently buying at a near 2 month high.
How do I get the best price?
Those who like a flutter not just on the grand national this weekend may be looking at trading over the event, if this is you will probably want to exploit our SPIKE NOTIFICATION service. We simply contact you with breaking news allowing you to make an educated decision on when to buy straight away, this can be hugely valuable as rates will often yo-yo after events with the highest point being straight after, (for more information on this service simply get in contact.)
If perhaps you have a target rate that you are trying to achieve a RATE ALERT might be best. To register for each simply email me Steve Eakins at hse@currencies.co.uk with your details.
In either case we here offer an award winning service providing a proactive service helping you time your trade while giving you access to award winning exchange rates. If you have found this blog useful feel free to contact us for a quotation on your exchange to see how much you could save. It could be very well spent 10 minutes! Please call +44 (0) 1494 787 478, or email me, Steve Eakins at hse@currencies.co.uk
Sterling exchange rates following inflation data – The Bank of England is stuck in a tricky position to say the least (Daniel Wright)
The Pound has risen ever so slightly this morning following inflationary data coming out slightly higher than expected.
The Bank of England would like the Pound to be weaker but the problem they face is that the lower the Pound the more imports will cost, therefore goods are more expensive which is not good for inflation.
Raising interest rates to combat inflation will lead to more expensive borrowing costs for everyone and growth being stunted due to less investment.
Not a nice position to be in – A rock and a hard place comes to mind!
For those of you that do not follow the markets the reason that this has led to the Pound gaining value is that the Bank of England do not want to have inflation getting too high and this is a sign that is is creeping up (things are getting more expensive to buy). The best way top tackle high inflation is to raise interest rates and a hike in interest rates generally is seen as positive to the currency concerned as it makes it more attractive to investors.
The currency markets do move in advance of things like this happening which is why the Pound has gained as the chance of a rate hike has increased ever so slightly.
Of course there are a lot of other factors that may affect rates in the coming days, we have the Bank of England minutes tomorrow morning which will show us how many members voted in favour of or against both Quantitative Easing and an interest rate change.
Indications that we are on the edge of further QE may be seen as negative for the Pound and the last few months this has been the more likely however any indications that members heads are moving towards a hike in rates could lead to another boost for Sterling.
Be aware we also have the budget tomorrow which in all honesty is rarely a big market mover however you always need to be cautious of a surprise popping up!
If you have a pending currency transfer to carry out from bank to bank and you want not only to maximise your exchange rates but also to receive a great level of service and assistance then feel free to contact me directly by email djw@currencies.co.uk with a brief description of your requirement and a contact number and I will be more than happy to call you straight back. We have won numerous awards both for our rates and customer service and I will be highly surprised if I cannot save you money over your current provider.
I look forward to hearing from you.
Poor economic data starts the day on the wrong foot for Sterling but a modest NIESR GDP figure gives the Pound a mid afternoon boost (Daniel Wright)
Sterling yet again started the week off with a less than impressive economic data release this time involving weak factory output figures released this morning. Yet again within minutes fears of a triple dip recession led to Sterling weakness against most major currencies and for those of you looking to buy foreign currency in the near future rates of exchange headed down to new 2013 lows.
However, we actually for once saw a slight turnaround later on in the day as the NIESR (National Institute of Social and Economic Research) released their estimate for GDP figure for the first three months of 2013. Although not great, the NIESR actually predicted that the U.K economy only shrank by 0.1% which although would place us back into a recession does mean that if the NIESR have got it slightly wrong and we see 0% or even positive growth then we may have avoided it.
It appears that many analysts were expecting the figure to be a lot more negative and the Pound shot up by nearly three quarters of a cent over the afternoon getting clients buying Euros over €750 more on a £100,000 purchase.
As soon as we saw the markets creep up being proactive currency brokers we were straight on the phone to our clients informing them of the potential opportunity and some snapped up the chance. If you feel being made aware of spikes in the market in the coming days and weeks may be of use to you then why not register your interest with me directly my emailing me djw@currencies.co.uk with a brief explanation of your exact requirements and timescales.
Tomorrow morning is fairly quiet on the economic data front however in the afternoon we have U.S Retail sales and tomorrow late at night the RBNZ ( Reserve Bank of New Zealand) interest rate decision and Monetary policy statement. It is clear the New Zealand Government are not happy with such a strong New Zealand Dollar so will they step in or say something that leads to NZD weakness to counter it? Keep cheicking here for more information on what happens.
With the Dow Jones at extremely high levels, the Dollar rapidly gaining strength and European problems being extremely quiet I cannot help but feel that something fairly major is just around the corner for world markets – What it is i’m afraid I do not know but as someone working in the industry for numerous years I just have the feel that there will be reasonably big news in the coming months. With this in mind you need to ensure that you do protect yourself in case we do see a huge drop in value for a particular currency and if you have a pending transfer to make it is usually a safer option to hedge a little and maybe split your transfer into smaller chunks, thus eliminating the full risk.
If you want assistance with any upcoming bank to bank transfer involving any of the major currencies then contact me today and I will be more than happy to help you not only better your current exchange rate but I will be proactive whilst trying to help you get your timing right too. Contact me today djw@currencies.co.uk I look forward to speaking with you.
Pound Sterling exchange rates set for a busy morning tomorrow as Mervyn king speaks following a fairly solid day today
After a positive day for the Pound will King boot exchange rates straight back down?
The Pound actually had a fairly positive day on the currency markets today actually ending up being one of the best performing of the 16 most actively traded currencies even with a slight drop at the end of the days trading.
Retail sales figures released by the British Retail Consortium and our PMI services sector survey both came out positive which provided a welcome boost to the Pound for those of you looking to buy foreign currency in the near future.
If you are in this position though you must beware, well known in recent years for his outstanding ability to devalue the Pound at the drop of a sentence, Governor of the Bank of England Sir Mervyn King speaks tomorrow morning at 09:45am.
Any hint of further QE (Quantitative Easing) for the U.K could cause a rapid slide back down for Sterling, and King’s comments will be monitored closely by investors as we have the Bank of England interest rate decision tomorrow at midday. If we avoid any further bombshells from King tomorrow I expect us to remain in the 1.16s potentially at the higher end, if we do have yet another speech of doom and gloom then be prepared for 1.15 and possibly below by the end of the day.
Key data: European GDP figures also due tomorrow morning
Another factor which may have an effect on Sterling/Euro exchange rates may be European GDP figures due out at 10:00am tomorrow morning. The figure will be the final revision of how the Eurozone performed in Q4 last year and expectations are for figures to be revised down from -0.1% to -0.6% – Quite a contrast to the original level.
Should this be the case it will confirm once again that the Eurozone is indeed in a great deal of trouble as anyone without their head in the sand should already know. Personally as this is already predicted I don’t see it weakening the Euro too much, however this news will not help the performance of the Euro and may start to push the Pound back towards being the best of a bad bunch.
Australian GDP figures released overnight
Overnight we seethe release of GDP figure from Australia and they are expected to confirm once again that Australia is still performing extremely well throughout this global recession.
Surely you would think there may come a point where the downward trend for GBP/AUD exchange rates will stop and I agree, however I feel that we will need to see a hike interest rates in the U.K start to start to really see this trend turning around and unfortunately we are potentially quite a way away from seeing this happen.
Interest rate decisions key this week
Be aware there are indeed a number of interest rate decisions out for Canada, Japan, U.K and Europe – not to mention bank stress test results and Non-Farm payroll data for the states this week.
These may not only affect their specific currencies but any other fiscal comments may affect global attitude to risk. If you have a pending currency transfer to make you should ensure you have a proactive currency broker on your side to keep you up to date with the very latest market movements.
You can email me directly on djw@currencies.co.uk with a brief description of your requirements and a contact number and I will be more than happy to assist you.
Wow – We have a very buy week ahead for Sterling exchange rates – Interest rate decisions galore rounded off with Non-farm payroll data from the States to round things off
Following an extremely busy start to the year this week shouldn’t fail to keep the market volatility going…. We have interest rate decisions from Australia, Japan, Canada, UK and Europe not to mention Non-Farm payroll data from the U.S on Friday afternoon.
We do not expect any changes to Interest rates around the globe however comments and voting regarding economic may well be key for where we se exchange rate head throughout the week.
There are many other data releases inclusive of Australian GDP and European inflation data that can also lead to big swings in exchange rates so if you have a pending currency transfer to make it is key you have an experienced and proactive currency broker on your side.
This is where we can come in and help you, not only has the company we work for won numerous awards for exchange rates in national newspapers but we have also won a National business award for out customer service.
When you call us you get straight through to a real trader and you deal with that trader throughout the entire process, we don’t do call centers and we pride ourselves on just one point of contact, meaning the person you deal with knows your situation inside out.
If you are using a broker or your bank and you aren’t getting the attention you feel you should be surrounding your currency transfer, or you feel you may be able to get a better rate of exchange than you are currently receiving then please do feel free to get in touch with us for a direct comparison. You can email me (Daniel Wright) the creator and owner of this site directly and I will deal with you personally if you so wish djw@currencies.co.uk or fill in the enquiry form on this page and one of our experienced currency brokers will call you straight back.
Personally I feel unless the Bank of England throw a spanner into the works the Pound may have a week of recovery however in this current market and with the releases due out this week it is extremely hard to know exactly what may happen next, if you want to be kept fully up to date either keep checking back on this site or email me with your contact number and a brief description of your requirements as above.
Sterling Exchange rates – What has happened this week? What may early 2013 bring for the Pound against the Euro, Dollar, Australian Dollar, South African Rand, New Zealand Dollar and Swiss Franc? (Daniel Wright)
Wow, what a volatile week we have seen this week especially for Sterling/Euro exchange rates.
The Pound started off the week on the back foot following Moody’s credit rating agency downgrading the U.K AAA credit rating for the first time since 1978. Exchange rates dropped away against all major currencies over the weekend which is rare , and Monday morning by the time we arrived on the trading floor those with a need to sell Sterling and buy a foreign currency were stuck with a much worse exchange rate than they originally expected.
The Pound has stayed low against most major currencies, and the general outlook is that this may well continue for the coming weeks and months – Not helped by analysts in the Sunday Times commenting that they feel we may see parity against the Euro and 1.40 against the USD!
Sterling Euro exchange rates have however made a slight recovery over the week following the Italian elections which have been nothing short of a little comical to say the least, they have managed to make investors a little edgy about the European debt crisis and hence we have seen the Euro weaken a little, making it cheaper to buy at present.
If you have a pending Sterling Euro transfer to carry out however, you must be extremely wary as the Government and Bank of England seem intent on seeing the Pound stay weak where as on the flip side Head of the European Central Bank Mario Draghi was once again extremely positive in his comments during the week regarding the Euro Zone.
We have even seen reports on the BOE considering negative interest rates which one would imagine would certainly not do the Pound any good. On top of this, with the credit rating downgrade and the prospect of a triple dip recession on the cards it makes it extremely hard to put together an argument as to why the Pound is going to strengthen too much in the coming weeks and indeed months.
Transfer to carry out?
If you are one of my regular clients then do feel free to get in touch with me directly and I shall be more than happy to monitor the market for you or book out an exchange rate on a forward contract.
If you have not used me before yet have a currency transfer to carry out it may be prudent to consider your options and ensure that you have a proactive currency broker on your side. If you currently do not use a currency broker or you feel you could get a better price or level of service than you are currently getting then by all means feel free to email me directly and I will be happy to personally help you for any currency transfer. You can contact me on djw@currencies.co.uk or by calling me on 01494 787 478 asking for Daniel Wright. I look forward to hearing from you.
