Tag Archives: rates

Sterling exchange rates drop to start the day only to recover – Theresa May to speak tomorrow at 11:45am (Daniel Wright)

The Pound had a bad start to the week, dropping against most major currencies in the Asian market session on Sunday night.

By the time we entered the trading floor rates had started to recover a little and U.K Manufacturing data released this morning helped to push the Pound back closer to where we saw it end last week.

Sterling really is having a rough ride of things lately and we are seeing multi month and even year lows against some major currencies. The GBP/AUD rate almost hit its lowest point since 2013 on Sunday night, giving those looking to bring Australian Dollar sellers into Pounds a great opportunity to repatriate their funds.

Now that the dust has settled on an extremely busy trading day we look ahead at what to expect tomorrow.. And it certainly does not look like a quiet one.

We have a flurry of inflation data out over the course of the morning for the U.k, with inflation expected to have risen ever so slightly. This is not a great surprise with the low value of the Pound and the Bank of England to have slight concerns over this so they will be looking to avoid the rise in inflation being too sharp.

The main event of the day will be Prime Minister Theresa may speaking about all things Brexit at 11:45am. Personally I feel we will just here more of the same comments that we have had come out from recent interviews but anyone with a currency requirement involving either buying or selling the Pound should still be poised and ready for action.

Investors and speculators alike will be moving off of every word and looking for any hints on what we are to expect so the market may be extremely volatile during this period and for the rest of the day.

If you are in the position where you are buying or selling a property overseas, your business moves funds between currencies or you have a foreign currency requirement for any other reason then it is key to keep a close eye on rates in the coming days, weeks and months ahead.

We keep our clients fully up to date with market movements and also assist with large foreign exchange transfers too. I created this site over 7 years ago to help people with market information but we also welcome new clients to assist with their money transfers on top of this.

Should you be in the position where you may need our service, you are getting rates from another broker that you don’t feel are the best or you merely want to have an efficient, pro active and friendly broker on your side then feel free to contact me (Daniel Wright) directly. You can email me on djw@currencies.co.uk with a brief description of your needs and I will be more than happy to get back to you. Alternatively feel free to call our trading floor on 01494 787 478 and ask for me (Daniel Wright) anytime from 08:30am until 18:00pm GMT.

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 djw@currencies.co.uk with a brief overview of what you need to do and I will be more than happy to contact you personally.

Economic data out this week to impact your currency exchange (Daniel Wright)

First and foremost a Happy New Year to all of our regular readers along with those visiting the site for the first time!

We have had a slow start to the year for Sterling exchange rates, very much like the past few weeks where the Pound has dropped off a little against most majors but there is plenty for the market to get its teeth into this week that may turn that trend around.

Tomorrow morning we have PMI Construction data for the U.K for December, and with the weather in December being considerably better than that of last year I would not be surprised to see a slight improvement year on year.

Later tomorrow evening we also have the Federal Reserve meeting minutes from their last interest rate decision. This can impact all major currencies as any comments on future interest rate changes may lead to a great deal of money moving around the world.

on Thursday morning we have Markit services PMI for the U.K in December. With the services sector being responsible for a large part of the growth figures in the U.K this can also be extremely important and expectations are for a slight drop off from the previous month, however I would not be surprised to see something a little more favourable in what may be a good week for Sterling exchange rates.

Finally on Friday we have another fairly bit data release over in the U.S in the form of Non-Farm Payroll data. Non-Farm data is the number of people in Non-agricultural employment (due to this being seasonal) and can have a huge impact on global attitude to risk.

Predictions for this data release can be way out so the market may price in one result yet the release can be quite a bit different so if you have the requirement to move any currency anywhere in the world then it is worth keeping your eye on the market at 13:30pm on Friday afternoon.

Here at Pound Sterling Forecast we do not only pride ourselves on providing regular and non-biased market information but we all work for one of the top foreign exchange brokerages in the U.K too.

If you have a currency requirement either now or in the coming months and you would like to maximise your exchange rate then we can also help with that too.

Feel free to contact me personally with  brief description of what you are looking to do and I will be more than happy to get in touch with you. We deal with bank to bank exchanges ranging from smaller sums up to multi-million Pound transactions, unfortunately we cannot assist with travel money.

All you need to do is email me (Daniel Wright) on djw@currencies.co.uk and I will be more than happy to get in touch with you at the earliest possibility.

 

Sterling still struggles as investors seek a safer haven to bring in the new year (Daniel Wright)

The Pound is not having the greatest end to 2016, particularly against the Dollar.

It appears investors and speculators are stepping away from Sterling and taking their profits after a slight gain seen by the Pound over the past few weeks of trading.

As we ease into the final few days of the year there are no major signs that this will turn around so if you have a foreign currency to purchase with Sterling in the next few days it may be prudent to look at doing something sooner rather than later.

As we move into 2017 the main focus will be on the actions of the Supreme Court and whether or not they do decide to overturn the ruling over article 50. Sterling exchange rates may move suddenly straight after the result is released and following this I would not be surprised to see yet another bout of jawboning, speculation and issues hanging around the matter that will no doubt add to the market volatility.

My personal opinion is that although this may be a potential banana skin, I feel the Pound is still greatly undervalued and that Sterling exchange rates should have a good recovery to look forward to, we just need to get all of the negative press out of the way first!

If you are looking to carry out a currency exchange in the coming days, weeks, months or indeed years then it is well worth getting in touch with me personally. The company that we all work for assists clients with large currency exchanges day in, day out and we have a base of over 90,000 satisfied clients.

We pride ourselves on highly competitive rates of exchange along with the very top level of customer service, and I would be extremely surprised if we could not save you money over your bank or current broker, along with offering you a smoother service.

Feel free to contact me (Daniel Wright) by emailing djw@currencies.co.uk and I will be more than happy to get in touch with you personally to discuss the various options available to you and answer any questions or queries you may have too. I look forward to speaking with you.

Sterling not feeling the festive spirit in the lead up to Christmas (Daniel Wright)

The Pound does not appear to be too jolly in the lead up the Christmas showing slight losses against most major currencies so far this week.

We have a few key economic data releases in the next few days and with slightly thinner trading levels during this time of year you can see larger swings than normal off the back of normal economic data.

For anyone that has a currently requirement coming up in the next few weeks you must be aware that leaving a position open over the festive season can be a risky strategy, especially if you are not going to be fully available to watch the markets or transfer funds should there be a big movement in your favour or against you.

Public sector net borrowing figures have been released this morning for the U.K were a little worse than expectations and we also have Consumer Confidence figures out overnight tonight and GDP (Growth) figures on Friday morning.

This is not to forget that we also have the on-going and well publicised Brexit talks and the pending Supreme Court decision on article 50 which will no doubt lead to  a large market movement. Expectations on the result of this decision are for early in January but as 2017 has shown us surprises can pop up and things do get leaked so do not be surprised if the market starts to move on rumours well in advance of this coming out.

All in all this year has been fairly jam packed with big political and Economic information which we hope we have kept you fully up to date with. If you carry out currency exchanges through your bank or a broker at present and you find our market information useful then why not give us a try. We do not only pride ourselves on providing up to date and non-biased market information but we also offer fantastic rates of exchange and a high level of customer service at the brokerage we work for too.

Pound Sterling Forecast has been running for 7 years and the brokerage we work for has been running for 17 years so we have a wealth of experience in assisting clients with currency exchanges so will be more than happy to help.

Feel free to contact me (Daniel Wright) directly on djw@currencies.co.uk with a brief description of what you are looking to do and I will be more than happy to contact you personally.

Pound hangs around pivotal points against a number of major currencies (Daniel Wright)

Sterling exchange rates are currently sat around a number of key levels which we may see broken through over the course of trading next week.

We have the Pound sat near 1.20 against the Euro, 1.25 against the Dollar, 1.70 against the Australian Dollar and 1.80 against the New Zealand Dollar.

Economic data for the U.K still continues to be solid post referendum and although there is the potential banana skin of article 50 and the supreme court decision hanging over the head of the Pound it does appear that the Pound is creeping back into fashion.

All 9 members of the Bank of England voted in favour of no change to interest rates on Thursday and I personally feel that the only thing holding the Pound back from being a great deal stronger is the uncertainty hanging over its head over the supreme court issue. This has the potential to knock the Pound back down again so anyone looking to exchange currency in the near term may wish to protect themselves from being caught out.

In my opinion I would not be surprised to see Sterling have a good week next week, we have thinner trading levels during the festive season so markets can move a little more than normal and i cannot see anything too negative hitting the Pound in the next week or so of trading.

If you are looking to carry out a currency exchange in the coming days, weeks or months ahead then here at Pound Sterling Forecast we can help you get both better exchange rates and an exceedingly high  level of customer service too.

You are welcome to contact me (Daniel Wright) the creator of this site 7 years ago on djw@currencies.co.uk and i will be more than happy to contact you and deal with you personally.

 

Sterling exchange rates enter December in good health, but will the Pound continue to climb? (Joseph Wright)

The Pound is entering the new month in a much stronger position than it entered November, after the currency gained an impressive 4.5% against the Euro through last month as well as performing well against a number of other major currencies.

Yesterday afternoon the Pound spiked upward against the Euro, as did the US Dollar, after both UK GILT (bonds issued by the UK government) and US government issued bond yields both increased in anticipating of further quantitative easing from the European Central Bank, (ECB) and also expectations of an aggressive fiscal plan by the US President elect Donald Trump.

Whilst complicated the result was Sterling strength across the board.

People planning on converting Pounds into another major currency such as the US Dollar, the Euro or the Australian Dollar for example have been presented with a much more attractive opportunity than this time last month, due to the Pounds unexpected gains off the back of the unexpected election of Trump.

Personally, I think the Pound may gain further on the Euro as we enter December and the Italian Referendum this weekend may be the catalyst. If the Italian Prime Minister (Matteo Renzi) is unsuccessful in his plan to change the Italian constitution in order to reform the banking system in Italy, I think we could see further Euro weakness as soon as next week. Feel free to get in touch if you wish to be kept updated on this topic.

Those in the process of buying property abroad or moving large amounts of money internationally have the chance to save thousands if we compare the Pounds value now compared with just a month ago, and with the help of a specialist currency exchange brokerage like ourselves we can help clients get even more for their money as our rates can improve on the banks offerings by between 1-4%.

If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well be worth your time getting in contact with me 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 to speak with me over the phone on 01494 787 478, just ask reception for Joe if I don’t answer myself. 

 

Sterling exchange rates surge on high court ruling and Bank of England stance on interest rates (Daniel Wright)

The Pound has performed extremely well today against all major currencies, a sentence I have rarely had the chance to write in recent months.

There were two reasons for this spike in the markets:

  1. A high court ruling that Parliament must vote on whether the U.K can start the process of leaving the EU.
  2. The Bank of England voted 9-0 for no interest rate cut

The ruling by the court will no doubt give Theresa May a sleepless few nights as now the Government cannot trigger article 50 on its own and would need the backing of Parliament for this to go ahead. According to reports they plan to appeal this and we expect a further hearing next month.

What this means is that the slim chance of Brexit not happening has increased, or if it does happen there is a higher chance of what is known as a ‘softer brexit’.

On top of this, the Bank of England made no changes to interest rates and in fact all nine members voted against any change to interest rates which also gave Sterling exchange rates a welcome boost.

An interest rate cut is generally seen as negative for the currency concerned and a hike in rates positive so the fact that a cut now appears to be some way away is why the Pound gathered some strength back.

Mark Carney spoke later in the afternoon which dampened exchange rates a little but all in all this was a good day for anyone looking to buy foreign currency.

If you are in the position where you need to transfer any sum of £10,000 overseas for your business or a foreign property purchase, or indeed you are bringing money back to the U.K for a property sale feel free to contact me (Daniel Wright) by emailing djw@currencies.co.uk and I will be more than happy to help guide you through this interesting market and assist you with your exchange at extremely competitive rates of exchange too.

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 djw@currencies.co.uk 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 djw@currencies.co.uk 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.

Pound Sterling Forecast – A busy week ahead for Sterling exchange rates with lots of data out (Daniel Wright)

Sterling exchange rates are no doubt in for a busy and volatile week this week with plenty of economic data releases due out for the market to get stuck in to.

I have listed the main key releases below and what to look out for. If you click on the links then you will get a more detailed explanation of what each release is and how it may impact the markets.

For further information, a live quote to see if you can save money over your bank or current broker then feel free to email me (Daniel Wright) on djw@currencies.co.uk and I will be more than happy to assist you personally. It still surprises me how many people contact me that felt they were getting a good rate with their broker that they had been using for years only to find out that they could be getting so much more through us, always make sure you check as it can make the difference of hundreds if not thousands of Pounds in your back pocket.

Tuesday, Oct 18
01:30 AUSTRALIA (AUD)

RBA Meeting’s Minutes Report

 
09:30 U.K (GBP)

Core Consumer Price Index (YoY) (Sep)

 
09:30 U.K (GBP)

Consumer Price Index (YoY) (Sep)

 
Wednesday, Oct 19
03:00 CHINA (AUD)

Gross Domestic Product (YoY) (Q3)

 
03:00 CHINA (AUD)

Gross Domestic Product (QoQ) (Q3)

 
15:00 CANADA (CAD)

Bank of Canada Monetary Policy Report

 
15:00 CANADA (CAD)

BOC Rate Statement

 
15:00 CANADA (CAD)

BOC Interest Rate Decision

 
Thursday, Oct 20
01:30 AUSTRALIA (AUD)

Employment Change s.a. (Sep)

 
01:30 AUSTRALIA (AUD)

Unemployment Rate s.a. (Sep)

 
12:45 EUROPE (EUR)

ECB Interest Rate Decision (Oct 20)

 
12:45 EUROPE (EUR)

ECB deposit rate decision

 
13:30 EUROPE (EUR)

ECB Monetary policy statement and press conference

On top of these releases we also have Unemployment data and Retail Sales data out for the U.K on Wednesday and Thursday morning and both of these may also have quite an impact.

How Sterling ends the week will really rely of two factors… How well U.K data comes out and what happens around the rest of the world.

Key focal point of the week is the European Central Bank and what they decide to do with their QE (Quantitative Easing). This will be released on Thursday afternoon and can lead to an extremely volatile exchange rate for GBP/EUR. The press conference shortly after by Mario Draghi (Head of the ECB) can also throw up some great opportunities for those looking to buy or sell Euros.

I personally assist clients that have the need to exchange large sums of currency either for their business, to buy/sell property or even for wages too.

My book of clients ranges from premier league footballers and large company directors Mr and Mrs Jones buying a retirement home in Spain and I always welcome new enquiries. Every individual is dealt with on a personal level and my main aim is to save you money when you do decide to book out your rate and also to try and help you time your exchange by giving you the market information you may struggle to get elsewhere, in simple terms.

Feel free to get in touch with me (Daniel Wright) directly by emailing me on djw@currencies.co.uk and I will be more than happy to contact you to discuss the various options available to you.