Tag Archives: usd

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.

Sterling likely to continue to find support at its post-brexit lows, but stay vigilant (Joseph Wright)

We’ve had another week of trading with relatively thin ranges for Sterling exchange rates as economic news out of the UK has been thin, and the UK economy has remained out of the headlines for the first time in a while as issues elsewhere have dominated the headlines.

Seeing Sterling trade within a cent’s difference between the days highs and lows is currently the norm, although we are witnessing the Pound gradually decline back down to the 52 week lows which in most cases are also 3 to 5 year lows also (or 31 years in the case of the US Dollar).

Moving forward I’m expecting to see the Pound find support at these levels, with those of note being GBP/EUR (1.1456), GBP/USD (1.2777) and GBP/AUD (1.6712).

Those that have been following the currency markets will be aware that we’re currently very close to those 52 week lows, and whether they’re breached or not will offer us an indication of what’s likely to unfold in future.

It’s worth noting that economic data out of the UK hasn’t been disappointing recently, and an example of that was this mornings better than expected GDP Figures for the previous quarter. The expectation was for an increase of 0.6% whereas the figure actually came out at 0.7%. This boosted the Pound’s value briefly but that upward spike then fizzled out which can most likely be put down to profit taking by day traders.

It’s these short term patterns which lead me to believe the Pound will struggle as despite relatively good fundamentals the Pound is still gradually declining back to its lows.

If you want to be kept up to date on the markets and you would also like to ensure that you are getting the very top levels of exchange for an imminent currency transfer or even a longer term one then I can help you with this.

Not only do we give clients up to date market information but we all work for one of the largest and longest serving currency brokerages in the U.K, so even if you have dealt with your current broker or bank for a long time I would be surprised if I could not show you a saving over what they are offering you – You can email me (Joseph Wright) directly on jxw@currencies.co.uk and I will be more than happy to contact you personally to discuss the various options we have available to you.

Buy Pound Sterling now before it becomes more expensive

It’s almost like the results of the Referendum have already come to light. Investors are piling into the Pound, the bookmakers have upped their odds again of a Remain and the polls yet again, put Remain in the lead.

As it stands, these factors in my opinion, scream BUY Sterling now!

It’s been said again and again that the Pound will soar in the event of a Remain, and this is likely to ring true based on the market movements, confidence in a Remain vote is good for Sterling.

Do you have Euros to sell for Sterling? Current exchange rates of 0.76 are still attractive given that a remain vote could push the currency pair into the lower 0.70’s, rates not seen since the end of last year. The same could be said for US Dollar sellers, levels of mid 0.60’s could be tested in the event of a Remain possibly lower, given the FED’s latest reports on slower US economic growth, pushing hopes of a FED hike back further. These levels again, have not been seen since prior to the new year.

UPDATE 12:30pm
This morning we have witnessed market movements of more than half a cent in favour of GBP, USDGBP has fallen 0.7 cents in the space of 4 hours whilst EURGBP fell half a cent between 10am and 10:30am. Confidence in a Remain is still gaining momentum so in the event you have a requirement for Sterling, email rdl@currencies.co.uk sooner rather than later.

Is Sterling’s rebound coming to an end? (Joseph Wright)

It would appear that the surprisingly bullish run for Sterling exchange rates is now slowly coming to an end, as we’re beginning to experience daily falls for GBP exchange rates against some of the other major currencies.

After ending the month of April in such a strong fashion the Pound is having quite a negative start to May, having fallen as low as 1.2628 from the GBPEUR peak of 1.2900 last month which was close to a 3 month high.

I personally believe the falling GBPEUR exchange rate is currently the most reflective of Sterling’s true value, as the Pound has actually gained against the Aussie Dollar due to the Reserve Bank of Australia’s decision to cut interest rates from 2% down to the record low of 1.75%. Similarly, cable (GBPUSD) has so far managed to hold on to it’s recent gains mostly due to USD weakness, as the markets are beginning to price in the unlikelihood of an interest rate hike anytime soon. Had it not been for the weakness in USD and AUD for the reasons previously stated, I think that we could have seen GBP fall against both so far in May.

Sterling had been boosted as the ‘Brexit’ polls indicated a strong ‘Remain’ lead around the time of US President Barack Obama’s recent trip to the UK. Barack Obama, Christine Largarde and Mark Carney have all recently lent their support to the ‘Remain’ campaign and warned the UK of the risks moving forward and this helped swing the polls in favor of a vote to remain within the Eurozone.

I feel that the positive sentiment surrounding Sterling is now beginning to wain, and with poor manufacturing data coming out of the UK yesterday (UK manufacturing activity fell in April for the first time since 2013) along with UK GDP falling in the first quarter of this year, I won’t be surprised to see Sterling fall once again in the lead up to the EU Referendum on the 23rd of June.

This morning will see the release of UK Construction Data at 9.30am which could provide some direction for GBP exchange rates which are currently flat so far. With a quiet week for financial data releases I’m expecting investor sentiment to continue to drive GBP exchange rates this week, and anyone with a GBPUSD currency requirement should be aware that Non Farm Payroll figures are out this Friday which could cause volatility around the time of its release. Feel free to get in contact if you would like to discuss this news release in further detail.

If you are planning to use GBP to buy a foreign currency, it may well be worth your time getting in contact with me (Joseph Wright) 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 me directly on 01494 787 478.

Brexit fears continue to cause Sterling to fall against the Euro and the US Dollar (Tom Holian)

Sterling has continued to struggle against both the Euro and the US Dollar and we have seen big falls against both currencies since the date of the EU referendum was announced for 23rd June.

A recent poll published in the Financial Times showed that the remain vote was 43%, the leave vote at 41% and the undecided vote at 16%.

Foreign investment is clearly bypassing the UK and whilst this uncertainty remains and with the UK announcing their biggest current account deficit last week the UK economy is not performing well at the moment.

With the Chancellor George Osborne recently making a u-turn following his Budget Statement and PM David Cameron facing questions about the recent Panama issues this is also causing political instability which is another recent for Sterling’s recent fall.

Turning the focus to the Eurozone with members within the European Central Bank disagreeing with president Mario Draghi about the recent intervention concerning monetary policy this has done little to effect Sterling vs Euro exchange rates highlighting the problems that Sterling is facing.

With the Eurozone due to release German Export figures this morning if these are positive expect Sterling Euro exchange rates to hit new lows.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

Alternatively call me directly on 01494-787478 and ask for Tom Holian. I look forward to hearing from you.

 

 

Sterling Exchange Rates Under Huge Pressure – 12 month low vs Euro and 6 year low vs US Dollar (Tom Holian)

Sterling exchange rates vs the Euro have fallen by as much as 12 cents in 6 weeks and the current trend sees no signs of abating.

Sterling is due to fall even further as we start the week and I would not be surprised to see rates fall below 1.30 for GBPEUR rates.

UK GDP has been downgraded recently, Retail Sales have been affected by the warm weather, Industrial and Manufacturing data- the worst in 4 years and Chancellor George Osborne warning of a cocktail of risks for the UK economy and a difficult year ahead this is weighing heavily on Sterling exchange rates.

The possibility of a Brexit is also looming and causing investors to shy away from holding the Pound.

All this bad news for the UK is creating huge Euro strength giving Euro sellers some excellent opportunities to exchange Euros into Sterling.

Things could get even worse by Tuesday when the UK announces their latest set of Inflation figures.

Low inflation is one of the main reasons why the Bank of England has chosen not to raise interest rates and with oil prices still falling this is likely to keep inflation low and therefore discourage any signs of an interest rate hike for the UK this year.

Expectations for Sterling Dollar Exchange Rates

Sterling US Dollar exchange rates are now at their lowest level for 6 years as things look promising for the US economy. The Federal Reserve has recently increased interest rates and with potentially 3 more rate rises during 2016 the Dollar appears to be the currency of choice for global investors.

China has had a terrible start to the year with their stock market having been suspended on more than once occasion owing to the dramatic falls.

This has caused a big flight to safety and therefore huge Dollar strength vs the Pound over the last fortnight.

The US Dollar could get even stronger next week as the Chinese announce GDP data on Tuesday. Expectations are for 6.8% GDP for the world’s second largest economy but with such an awful start to the year I think the results could spell trouble and therefore this could push GBPUSD rates below 1.40 by the middle of next week. Good news for anyone looking to sell Dollars.

On Wednesday the US publishes its own set of Inflation data and if strong will add further support to future interest rate rises for the US and I think we could see Sterling USD rates drop below 1.40 next week.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

Levels to buy Euros with Sterling lowest since February 2015 (Tom Holian)

We are extremely close to the best exchange rates to sell Euros into Sterling during today’s trading session as Chancellor George Osborne has quite clearly said there a big problems coming for the British economy.

During an interview earlier today on Radio 4 Mr Osborne has said ‘we have not abolished boom and bust’ which has caused big falls for the Pound across the board.

Today we have seen GBPUSD rates drop to their lowest level for almost 6 years and an 11 month low for buying Euros with Sterling.

Osborne went on to say that ‘ the difficult times aren’t over…and we have got to on making difficult decisions.’

With the Bank of England’s governor Mark Carney having stated that interest rates will not rise until 2017 we have continued to see big negative movements for Pound Euro rates since the start of December 2015.

European data that was published this morning was, as predicted in some of my previous articles, a lot better than expected with unemployment in the single economic area falling to 10.5% from the estimate of 10.7%.

Both consumer and business surveys also showed signs of an improvement and it appears as though the tide has changed firmly in the favour of the Euro creating the best time to sell Euros since February 2015.

Tomorrow afternoon sees the release of US unemployment data and Non-Farm Payroll figures and I think with the US interest rate rise in December these figures could support the recent change in policy.

With the Chinese stock market causing even more volatility I predict that we’ll see GBPUSD rates fall even further during this month and a volatile period for Sterling Euro exchange rates as well.

If you have a currency transfer to make and want to save money on exchange rates compared to using our own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

Alternatively call me directly for a free quote. 01494-787-478

 

 

 

FOMC Minutes to set the trend for Sterling Exchange Rates (Tom Holian)

Since the US interest rate hike back on 16th December we have seen Sterling vs US Dollar exchange rates drop by as much as 5 cents.

With rumours that the US Federal Reserve may even raise interest rates another 3 times during 2016 and with the Bank of England confirming no interest rate rise this year we could see more Dollar strength coming.

The currency markets are so far relatively quiet during this morning’s session and I think we could be in for a huge amount of volatility during tonight’s release of the minutes.

I expect to see even worse rates to buy US Dollars with Sterling by the opening session tomorrow morning.

Arguably the biggest data release of the week will come on Friday as the US publishes unemployment data and Non-Farm Payroll data.

This can often have a big impact on GBPUSD rates and I think we’ll see a 6 year low to buy US Dollars with Pounds by the end of the week which is great news for anyone looking to sell Dollars to buy Euros or Sterling.

Looking at GBPEUR exchange rates we could see big moves later this week as tomorrow sees the release of Eurozone unemployment data.

With unemployment having fallen in the Eurozone over the last few months I would not be surprised to see this trend continue and therefore a strong end to the week for anyone looking to sell Euros to buy Sterling.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

Alternatively call me on my direct line 01494787478 and I look forward to hearing from you.

 

 

 

Sterling makes gains against the Euro on a reasonably quiet day for economic data (Daniel Wright)

The Pound made good ground against the Euro today even though there was little economic data for investors and speculators to trade from.

Of course the news from Greece as covered in the post below does bring the Greek issue back to the headlines and the fact that we did have a member of the Federal Reserve today campaigning for a rate hike has seen quite a flow from Euros back into Dollars, leading to less demand for the Euro and in turn it becoming cheaper to buy.

We cannot ignore the migrant crisis either as it stands, this is indeed a horrific situation for all involved but on top of this it is start to weigh heavily on European coffers.

With such great uncertainty on what we may see next from this I feel that this is another factor holding back the Euro and pushing the GBP/EUR rate back towards 1.40.

Tomorrow the main set of data for Sterling will be public sector net borrowing figures, released at 09:30am for the U.K. Expectations are for a slight improvement so this may give Sterling an early morning boost.

If you are looking to make an exchange involving Sterling and any other currency and you want to get a lot more for your money then feel free to contact me directly with a brief overview of exactly what you are looking to do and the timescales you are working to.  You can contact me (Daniel Wright) by email on djw@currencies.co.uk and I will be more than happy to call you personally.

 

Economic data coming up that may impact your currency exchange – Data for those with GBP,EUR,USD, CAD,CHF,NZD and AUD interest

Tomorrow morning to start the ball rolling we have U.K unemployment data which is expected to remain at 5.6% – Any change to this will lead to a volatile start to the morning for Sterling exchange rates.

I have outlined other important data of interest but I would say the main talking point of the week has to be the Federal Reserve Interest rate decision, monetary policy statement and press conference att released on Thursday evening at 19:00pm.

Speculators and investors around the world will be watching to see if there will be any movements in interest rates either imminently or in the coming months for the States.

Personally I feel this is a week where limit orders come into play for anyone looking to buy or sell currency during the course of the week. A limit order is where you can set a specific rate you wish to achieve with us and should it become available even for a matter of seconds then your currency will be bought out automatically for you and we will contact you to let you know.

The order can be canceled or amended at any time as long as it has not been achieved and a lot of my clients are using this handy market tool at present to try and squeeze that little bit more out of a volatile market.

If you are buying an overseas property or you have large business invoices to pay then it is well worth contacting me for more information on this free market tool.

We pride ourselves on not only giving our readers and clients regular market information but also helping them achieve the best possible exchange rates for their transfers. You can email me (Daniel Wright) on djw@currencies.co.uk and I will be more than happy to contact you personally to tailor a plan for your specific situation.

Other releases of note are below, likewise if you need further information on how these may affect you then email me on djw@currencies.co.uk

WEDNESDAY, SEP 16
10:00 EMU EUR Consumer Price Index (YoY) (Aug)
10:00 EMU EUR Consumer Price Index – Core (YoY) (Aug)
10:00 EMU EUR Consumer Price Index (MoM) (Aug)
14:30 US USD Consumer Price Index Ex Food & Energy (YoY) (Aug)
14:30 US USD Consumer Price Index (YoY) (Aug)
THURSDAY, SEP 17
07:35 JP JPY Bank of Japan Governor Kuroda Speech
08:30 CH CHF SNB press conference
08:30 CH CHF SNB Interest Rate Decision
19:00 US USD Fed Interest Rate Decision
19:30 US USD Fed’s Monetary Policy Statement and press conference
23:30 AU AUD RBA’s Governor Glenn Stevens Speech
FRIDAY, SEP 18
13:30 CA CAD Bank of Canada Consumer Price Index Core (YoY) (Aug)
13:30 CA CAD Consumer Price Index (YoY) (Aug)

I hope if you fine our market information interesting and useful you will give us a shot at getting you a better exchange rate than your current currency provider. We have helped over 5000 clients that have contacted us through this site and we would love to add you to that list of satisfied customers. Contact me (Daniel Wright) on djw@currencies.co.uk with a brief description of your needs (minimum £20,000) and I will call you personally.