Tag Archives: transfer
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.
Find our site interesting and informative? We can help you with your currency transfer too… Get in touch today and have one of the authors of this site personally assist you on your up and coming requirements
Just to make you aware we have now had over 3400 people contact us through the site and so far we have managed to get better rates of exchange and win business from numerous companies, if you are using one of the following it may be worth you getting in touch for a direct comparison:
Moneycorp, HIFX, World First, Smart Currency, UK Forex, Oz Forex, Foremost Currency, Foreign Currency Exchange, Currency Index, Currencies Direct, XE.com, Transferz, NZ Forex, Halo, Afex, Tor FX and Hargreaves Lansdowne.
Not to mention Barclays, Lloyds, Natwest, HSBC, Yorkshire Bank, Clydesdale Bank, RBS, Halifax, Nationwide and pretty much all major banks.
We don’t only pride ourselves on a great exchange rate but also a really high level of service too, which you may find you aren’t getting to a high enough standard at present.
If you are using an online trading platform then make sure you get straight in touch, with an online platform you do not have someone negotiating on your behalf therefore generally do not receive the best rate of exchange you can.
We deal with bank to bank transfers ranging from one thousand Pounds to multi million Pound transactions for both private clients and corporate clients… We have a regular payments facility too which is free and can assist anyone with smaller payments to Europe.
The company we work for is FSA registered and Authorised as a payments institute and all funds are kept in client transaction accounts to give you peace of mind your funds are safe and secure, we have won awards both for our exchange rates and customer service and have now 48,000 clients under our wing. Anyone that contacts us through this site will deal with one of the authors, if there is an author you find particularly informative you can use them directly.
If you feel we could be of assistance to you as well, feel free to get in contact with me directly by emailing me djw@currencies.co.uk or you can indeed fill in the enquiry form on this page and one of us will call you back.
You can also join our mailing list on this page too.
We look forward to speaking with you!
What is the fiscal Cliff?
There has been much talk in the financial press over the last few weeks with regards to the US election and the upcoming “fiscal cliff”, however this has now come onto the main stage.
What does it mean and how will it affect currency markets?
The fiscal cliff relates to a time when the US deficit reaches 4% of GDP or $260 billion. When this is reached there are laws in place that will automatically raise taxes and cut spending, stemming US growth and expected to push the US economy back into a recession. Currently the estimated date for this is January 2013!
These laws were initially put in place earlier this year when the “debt ceiling” was reached, and many saw these laws as a gap filler over the election period. So now that the election is over this “fiscal cliff” will be the main talking point for some time in Washington. Basically the US economy has to stop spending as the threat is it could become bankrupt – but in reality I think we all agree that the US will not allow this to happen, but something does have to change. This is the important part as the Government is split in the US, you have probably heard over the last couple of days that the Democrats have the Senate and the Republicans have the House of Representatives. As a result the two parties will have to agree on change and compromise will have to happen, this is the sticky part.
So how will this change the currency markets?
Personally I don’t expect much of an impact until later in the year as any compromise is likely to happen at the last minute rather than 2 months before. So at the beginning of 2013 this will be at the top of the agenda and at that point will probably result in the the USD becoming more expensive. So if you have a USD need in the next 50 days this does not really affect you, but, if you are buying a property which is completing next year or have a business exposure which is on-going, this is something to plan for now!
A strategy I would suggest you consider between now and the new year is to utilise a forward contract. This allows you to lock in the rate of exchange now for a requirement in the future, a small deposit is required but it allows you to plan financially knowing what your costs are. There is always the risk rates could move slightly better for you between now and then however I always find that it is easier to accept that I could have saved a little when compared to having to raise thousands more if the rate goes against you.
If this is an option that you would like to learn more about, or you want to know more about what will affect exchange rates in the next 50 days, contact us today – hse@currencies.co.uk
The saving of a broker over a bank is normally significant, the exchange rate is traditionally somewhere between 2%-4% better. Plus with a pro-active service helping you make an educated decision on when to buy currency you can potentially save yourselves thousands.
I hope this is of use.
Thank you,
Steve Eakins
Pound Sterling to continue gains against the Dollar and to drop against the Euro – What about the Rand? Lots going on at present!
The Pound has had a mixed bag in terms of performance against other majors of late and many clients I speak to are wondering just where the markets may head next… It is such a hard one to call at present as we have so much gonig on worldwide.
The intro of QE3 for the States and the mention of no rise in interest rates until at least mid 2015 coupled with the Euro gaining a huge amount of confidence has led to a huge amount of weakness for the Dollar – Last week in fact was the worst the Dollar has performed in one single week for 8 months!
The riskier currencies have also made a fight back thanks to global confidence being higher, apart from the South African Rand that is, which due to interest rate cuts and the major mining and political problems over there have led to a battering for the strength of ZAR in recent weeks.
Personally I think at some point once again confidence in European problems will drop like a stone and we will see a big reversal, the problem is this may be weeks or it may be months so if you have a pending property purchase to make in Europe it may be prudent to look at getting serious with booking your rate of exchange by either hedging your bets and securing half of the currency you need or by locking in to a forward contract.
We have the Bank Of England minutes due out on Wednesday morning which could be the kick start to further Sterling losses so that is one release to be extremely wary of.
If you have an upcoming currency transfer involving any major currency and would like to discus your options with me personally I will be more than happy to speak with you directly, just feel free to email me djw@currencies.co.uk with some details and a contact number and I shall get in touch, with years of market knowledge, awards for our exchange rates and indeed our customer service it could be an email that saves you thousands of Pounds.
Sterlings worrying forecast
Generally sterling has been gaining this week against most currencies, as regular readers will be aware, this is due to investors using the Pound as a safe haven for their cash. However GDP estimates fell yet again his week, June’s NIESR GDP forecasts fell back to -0.2% from +0.1% in May. This is now the fifth month this year, (out of six readings,) that has shown that the UK economy has contracted.
The Bank of England is well aware of the struggle which is why additional Quantitative Easing (QE) was announced last week, increasing the total target to £375 billion! Still, loose monetary policy seems to have proven ineffective around the globe and as a result I personally would not be surprised to see further QE being announced in the future. (QE is the printing of money, the theory is it makes banks lend more which increases growth, however as more money is created it value falls, normally QE weakens a currency.)
This is more of a long term worry for clients, in the shorter term I personally would not be surprsied to see GBPEUR climb further. So good news for buyer, but why?
Well this week has already been a busy week for the Euro as Financial ministers meet in Brussells for a 2 days meeting. The big news was that covered in yesterdays blog that Spain is receiving a “banking bailout,” but in my optition they are joinging the majority now that have had a bailout; Greece, Ireland, Portugal and Cyrpus. That is why we are where we are at a near 4 year high. The reason why I think there is more to come is due to comments make from italy. Their prime minister said that he would be open to also receive a support package to lower the countries borrowing. If this was confirmed I would think GBPEUR rates could push up to 1.30!!!!!!!
If you are in a position reading these blogs looking for the time to trade, I think it is very close! Now is the time to contact us if you need assistance…. Contact me personally by emailing me at hse@currencies.co.uk I look forward to hearing from you.
Best exchange rates for your currency transfers.. Are you happy with your bank or current brokers exchange rates?
When needing to transfer large amounts of funds overseas the value of currency you receive will be determined by the exchange rate you get. Sounds obvious? Well everyday tens of thousands of people (if not significantly more) literally throw money down the drain and use a bank for their currency exchange.
Even though the bank seems the ‘best’ place to go since that is where you keep your money it is in a very high majority of cases the worst. When needing to transfer large sums of money you should speak to a currency broker. We offer commercial rateas of exchange and can beat the banks by up to 4%, sometimes more. Does 4% not sound like much? Well if you were buying £500,000 worth of Euros, a 4% difference is £20,000. Sounds like much yet?
So how do we do it? We buy and sell huge volumes of currency and we source commercial rates of exchange. We can then pass those savings on to the client. It is literally that simple. We don’t do Pet Insurance, we don’t do Mortgage Finance. We do 100% currency brokering pure and simple!
In my years of working on the markets I have never known so much volatility on exchange rates. I personally feel for anyone making large currency transfers at present because the markets are all over the place. Understanding what is driving the markets is the key to understanding what may happen and for each of my clients I, where necessary make sure they understand all the ins and outs of how to transfer funds safely, securely and at commercial rates of exchange.
If you have any currency transfers why not find out for free at 100% no obligation how we work and how we can achieve all of the above for you by filling in the enquiry form on the right hand side of this page.
All of the authors on this site are senior currency brokers with years and years of experience underneath them, working for a FSA regulated company authorised as a payments institute so you can have the peace of mind that you are dealing with the best, we also pride ourselves on customer service so not only do you get a great rate of exchange but fantastic levels of service as well.
Contact me directly djw@currencies.co.uk and I will be more than happy to assist you.
Best exchange rates for your property purchase or indeed any currency transfer from bank to bank
When needing to transfer large amounts of funds overseas the value of currency you receive will be determined by the exchange rate you get. Sounds obvious? Well everyday tens of thousands of people (if not significantly more) literally throw money down the drain and use a bank for their currency exchange.
Even though the bank seems the ‘best’ place to go since that is where you keep your money it is in a very high majority of cases the worst. When needing to transfer large sums of money you should speak to a currency broker. We offer commercial rateas of exchange and can beat the banks by up to 4%, sometimes more. Does 4% not sound like much? Well if you were buying £500,000 worth of Euros, a 4% difference is £20,000. Sounds like much yet?
So how do we do it? We buy and sell huge volumes of currency and we source commercial rates of exchange. We can then pass those savings on to the client. It is literally that simple. We don’t do Pet Insurance, we don’t do Mortgage Finance. We do 100% currency brokering pure and simple!
In my years of working on the markets I have never known so much volatility on exchange rates. I personally feel for anyone making large currency transfers at present because the markets are all over the place. Understanding what is driving the markets is the key to understanding what may happen and for each of my clients I, where necessary make sure they understand all the ins and outs of how to transfer funds safely, securely and at commercial rates of exchange.
If you have any currency transfers why not find out for free at 100% no obligation how we work and how we can achieve all of the above for you by filling in the enquiry form on the right hand side of this page.
All of the authors on this site are senior currency brokers with years and years of experience underneath them, working for a FSA regulated company authorised as a payments institute so you can have the peace of mind that you are dealing with the best, we also pride ourselves on customer service so not only do you get a great rate of exchange but fantastic levels of service as well.
Contact me directly djw@currencies.co.uk and I will be more than happy to assist you.
Bank of England Minutes – Members vote 9-0 in favour of no change at all to interest rates – No sign of an interest rate hike for a long time – What does this mean to your transfer?
This morning saw the Bank of England minutes released, and as predicted led to Sterling weakness, not great news at all for those of you looking to send money overseas. The members of the MPC (Monetary Policy Commitee) voted 9-0 in favour of no interest rate movement at all. Markets move on rumour as well as fact and have already moved down slightly following this release. An interest rate hike is usually seen as positive for the currency concerned as it makes it much more attractive to investors (would you rather put you money in the U.K earning little to no interest or in Australia getting up to 7%???)
Now that all members are in full agreement it does really push the chances of a hike back condsiderably and some analysts are even questioning the chance of it happening at all in 2012, this may now hamper any serious Sterling strength in the short term against all major currencies. I am still in the belief that we may see Euro weakness at some point as there are just so many problems within Europe however when and how much is hard to work out, as the Euro has still managed to stand fuirm over the past year or so even though it is taking plenty of hits.
Should you have a pending currency transfer and want to achieve the very best rates of exchange we can save you anything up to 4% over using your bank – I work for Foreign Currency Direct and we are an FSA regulated company authorised as a payments institute so you can be sure you know you are dealing with a highly professional and safe company that has now been trading for over 11 years and currently has over 40,000 happy clients. Email me directly djw@currencies.co.uk or call my direct line 01494 787 462 during U.k office hours and I will be happy to explain exactly how I can help, I deal with Personal or Corporate transactions from any amount of £1000 to multi millions.
I look forward to speaking with you soon.
