After last week’s losses against the USD and a steady rate hovering in the 1.18′s against the Euro this week could be a little more volatile for sterling exchange rates. Data is a little light for the UK in general this week bar Wednesday when things could really get interesting. The pound will more than likely be volatile though as there are numerous data releases all over Europe.
Those of you that have an interest in GBP/EUR the next couple of days could be vital for how the currency pair performs. Tomorrow morning at 7am Germany are releasing some key inflation figures followed by the ZEW survey which shows the sentiment between investors and analysts. Often this can be a market mover and I personally feel this may give the pound an opportunity to push up to the late 1.18’s possibly 1.19. If you are selling Euros you may wish to look at securing your funds today before this may occur to stop your recent losses.
On Wednesday we will see some of the major European countries release their GDP figures. GDP is a measure of how their economy is performing and over the last couple of weeks the UK has posted a healthier picture which has strengthened the pound significantly since the Cyprus event with a gain of around 4.5%
All of the countries bar from Germany is expected to show a contraction in their economic growth. So if they do post some better than expected figures then it is on Wednesday morning that we may potentially see the Euro gain against a host of majors.
Now in the UK this Wednesday the quarterly inflation report out at 10.30 may give the pound a boost. It seems that the BoE are slowing down their QE programme. If they give any hints in their report that they are happy with the rate of inflation and the slow economic recovery this could boost the pound and recover some of the losses seen against the USD.
Could we hit 1.20 against the Euro? It would be the highest level seen this year and if we do I would highly recommend securing your Euros. Let me know your thoughts by emailing me at email@example.com
Wednesday also brings a raft of unemployment figures. Unemployment is slightly falling as the slow recovery in the UK kicks into force but with 7.9% still expected to be unemployed we will need to see a fall in this figure for the pound to rise.
Please do be cautious if you have a currency transfer to make. These are two of the key releases which can cause the pound to be very volatile against a host of currencies. If you have a transfer to make in the next few weeks Wednesday’s
release may give you an indication if you should hold out a little longer before making your conversion.
If you do require exchanging funds then please do inform em of your requirement and I can explain the options available to you plus inform you how you can get a btter rate than through the banks. Just email me at firstname.lastname@example.org with your requirement and I will talk you through the options that are available to you.
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Best rates on Euros and Dollars with three big data releases out for sterling exchange rates. (Ben Amrany)
Today could end up being quite an interesting day for sterling exchange rates with an interest rate decision out at midday followed by the asset purchase facility (QE), manufacturing data out at 9.30 and then this afternoon we have a GDP estimate for the month of April.
Looking at what may occur today I feel it is safe to state that we will not see the Bank of England raise interest rates. Where all sterling buyers and sellers should be cautious is with the QE decision. Due to the fact that the UK posted better than expected growth figures to avoid a triple dip recession last month I personally feel that the Bank will hold off from initiating any further QE this month. Having said that if they do unexpectedly pump more money into the economy then you may find that the pound will be under a lot of selling pressure and make your currency purchase more expensive if you are buying Euros or Dollars.
If you are looking at buying sterling with your Euros or Dollars then you may be wise to look at your options this morning. If no QE happens then the pound may start to slightly strengthen again. At the end of last week sterling was looking like it may break through the 1.19 level but could not get through this resistance level. Could today be the day where this happens.
If you are looking at buying Euros or Dollars I would see what happens this afternoon with the release of the growth (GDP) figures. After last month’s worries of falling back into a triple dip recession which was missed you may find that this afternoons data could give the pound a further boost. Do feel free to email me at email@example.com or call me in the office on 01494 787478 and ask for Ben Amrany to discuss your requirement and the options that are available to you. If you are concerned about what lays ahead for the pound we can help you minimise your risk to exchange rate fluctuations.
An overview of the pound in general has seen the currency gain quite significantly after the dreadful start to the year. Before the Cyprus event GBP/EUR was down at 1.13 and we hit a low of around 1.48 against the USD. Now the rates are hovering around 1.1825 versus the Euro and 1.5550 versus the US Dollar. The gains are much welcomed and if you feel that the pound is spiking and you are looking at capitalising in the near future let me know what your requirement is and I will look at helping you with your conversion by making you a significant saving on the rate of exchange over your high street bank.
My contact details are below should you want some assistance.
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Sterling exchange rates set to have a busy week!! Best rates for buying your Euros and Dollars (Ben Amrany)
It turned out to be a fairly flat week for the pound in general with only a cent or so movement against the single currency. Against the USD though we witnessed a welcome boost with the pound climbing now over 4% from the lows of 1.48 recently seen. The spike saw the pound gain to 1.54 on Friday and I feel this represents a good buying opportunity. If you need to buy the USD and wish to capitalise on this current spike please do email me at firstname.lastname@example.org. Let me know what your target level is and I will keep you informed should the rate occur.
Comments from the Federal Reserve have led the markets to believe that they may be starting to slow their monetary easing programme. Couple this with the uncertainty of threats from North Korea the Dollar has taken a bit of a hit this week. Looking into next week against the Greenback their is a host of inflation data out on Tuesday and the FED’s beige book (The Beige Book reports on the current US economic situation) but apart from that significant economic data is a little bleak.
Here in the UK their is also a host of inflation data out on Tuesday and the biggest release will be on Wednesday morning when the Bank of England will release their minutes from the last interest rate decision. The minutes will show how many members of the BoE voted for interest rates to change and how many voted for the dreaded QE. The last few months there has been no QE and it has given the pound a slight boost. On Wednesday though should more members show that they voted for QE it will bring up the question will it happen in May? This is one of the key releases which can cause the pound to be very volatile against a host of currencies. If you have a transfer to make in the next few weeks Wednesday’s release may give you an indication if you should hold out a little longer before making your conversion. Email me with your requirement at email@example.com and I can go over the options that are available to you to help you try and maximise your exchange. Plus the rate will be a lot better than your bank!!!!
If you do not trade next week then the next key release that the markets will be keeping a very close eye on will be the GDP figures on the 25th April. If data continues to be positive and the UK misses a triple dip recession then the pound I feel will remain stable and not nose dive. However I still cant see the rates pushing back towards the 1.20 verses the Euro. If we do hit a triple dip then I think the pound will test the 1.14 level against the Euro and the 1.50 level again against the USD. Things are certainly on a knife edge so if you do not want to take any risks with your funds their are good options that are available. Email me at firstname.lastname@example.org and I can go over all the info for you.
Not only do we offer you our expert opinion on the markets but we can help you achieve rates up to 4% better than some banks. If you have not contacted me in the past can you afford not too with the state of the pound. Even if you are buying sterling and the rates are attractive it is human nature to want to achieve as much as possible so feel free to contact me to help you try and maximise your currency exchange.
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The pound has nicely risen from lows against the USD & Euro over the last 2-3 weeks. Data here in the UK is slowing improving and the risk of a triple dip recession is slowly diminishing. This week alone factory output has increased from February and the NIESR GDP estimate showed that the UK economy grew by 0.1% in the 3 months up to March. Previously the economy in the UK had contracted by -0.1%. You may feel what is the difference between a plus 0.1% to a decline of 0.1% but it fills investors with confidence about the UK economy and hence we see sterling strength.
The main figure will be at the end of the month when we have the actual GDP estimate. This will be the release which could mean that sterling gathers momentum should we not be in a triple dip recession.
If you are looking at selling Euros to buy your sterling then you may be wise to look at converting sooner rather than later. The levels that we reached before the Cyprus event I feel are long gone. If you have a significant volume to exchange don’t get caught out trying to recover your losses as it may get worse 2-3 months down the line. I feel that their will be opportunities when sterling does weaken again but not down to levels pre- Cyprus. So you may be looking at a range bound of 2-3% one way or the other and being in a position to capitalise on a favourable movement could end up saving you thousands.
If you have a specific target level why not inform me at email@example.com so I can keep you updated should the right level occur. A limit order can be key to maximising your exchange.
I assist thousands of private and corporate clients with their money exchange and the rates can be up to 4% better than that of the high street banks. If you inform me of your timescale then we can look at all the options that are available to you to help you maximise this. With very little data out of the UK for the remainder of the week now may be a good time to look at getting things in place so if a rate occurs you can act.
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So with the pound nicely rising against a basket of currencies we learnt yesterday that the governor of the Bank of England Sir Mervyn King felt that recovery for the UK economy is with in sight and that the weakening of the pound has gone low enough.
King who himself has recently talked the pound down has made a U turn and stated that he thinks “we are moving to a properly valued exchange rate. I think we’re probably there” This assisted sterling to rise over 1% against the USD, 0.72% against the Euro and we witnessed gains against the southern hemisphere currencies. If you would like to capitalise on these gains then please feel free to contact me at firstname.lastname@example.org and I can explain the options that are available to you.
You could be reading this article thinking that King’s comments could pave the way for the pound to start to claw back the average loss of 6% across the board this year. Playing devils advocate if the governor may think that an average of 1.15 against the Euro and 1.50 against the USD is the right level for the currency pairs then surely this gives the bank scope to try and devalue the pound as soon as it starts to strengthen!! For this reason I would not get too excited.
At present many of the central banks around the world are happy for their currency to remain weak as it will help their exports. I tend to call this a currency war. With political, economic and credit rating issues in the UK the pound has weakened all by itself with out the Bank of England having to re stimulate the economy with more quantitative easing (QE).
If the pound is able to gain further by the end of the month I would seriously consider securing your currency even if you do not require the funds immediately. We have different contract options like forward buying which can help you minimise your risk to volatile exchange rate fluctuations should you not have full funds available at present. This can give you the peace of mind that your funds will not weaken any more. If you would like information on this or any other contract that we offer then please do contact me with your contact details and I will explain all the options that are available to you.
If you have any specific target levels that you would like to be informed about for any of the major currencies then email me at email@example.com
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During yesterday’s trading there was a surprise jump for the pound against a basket of major currencies on a day of no economic data to note of for the UK. The biggest gain of the day was against the USD of over 1% and trading against the Euro was up around 0.70% by close of trading. This is a welcome boost for those of you looking at selling the pound. The trend has even continued this morning with the pound spiking at 1.1624 against the Euro and 1.5153 verses the US Dollar
This week alone if you were buying USD & Euros now, as opposed to the beginning of the week you would be achieving on a £200K purchase $5400 & €4400 more now.
Looking forward I feel that pressure will however remain on the UK economy and with a budget fast approaching next Wednesday, you may be wise to capitalise on the recent gain. Feel free to contact me on the trading floor and I will explain all the options available to you and the mechanics of trading through us. Just ask for Ben on +44 (0) 1494 787 478
Here at www.poundsterlingforecast.com we offer our clients a very personal service to help you try and maximise your exchange. The savings can amount up to 4% better than what your high street bank will offer you. Even if you have moved money overseas in the past and use a different currency broker please do get in contact we will always strive to beat any rate that you have been offered elsewhere.
If you have a requirement to buy or sell any major currency you can email me directly at firstname.lastname@example.org and I will look at what your exposure is to the market and help you judge the timing of your currency conversion.
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Sterling exchange rates have been through the mill this year. With losses of around 8-9% against the USD and losses of around 6.5% against the Euro things are very bleak for those looking at selling the pound. In fact the pound is the second weakest currency of 2013 only behind the Japanese Yen
Yesterday we witnessed the pound claw back some of its losses after the increasing pressure of potential further easing by the Bank of England has really weighed on sterling. The slight increase helped the pound jump back to 1.4953 against the USD and 1.1557 against the Euro. This spike that we have seen may mean that this is a good time to capitalise as the data out at the beginning of the week in the form of poor industrial and manufacturing data has meant that a triple dip recession is very real.
Looking forward there is very little data out for the UK but a member of the Bank of England will be speaking tomorrow and last time they came out with comments that a weak pound is good for the UK economy meant that the pound fell sharply after. If you are concerned that a similar scenario may occur then do not take the risk with your exchange. I personally feel that we will see the pound start to hover around the 1.50 level against the USD and 1.16 against the Euro by the weekend.
Due to no data to note of from the UK I am looking ahead at key data releases in the form of inflation data from the US this afternoon along with some employment figures. Then tomorrow in Europe they will release a batch of inflation figures so by tomorrow the pound could have once again weakened to the recent lows.
If you have a requirement and are concerned how data releases or comments from central banks can effect your currency requirement please do feel free to contact me at email@example.com and I can explain all the options that are available to you.
If you have any target levels on rates that you would like to achieve please feel free to inform me and I can place a rate alert on our system so you do not miss any opportunities.
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Interest rate decision for the UK fast approaching. This could be one of the most volatile days for the pound against the Euro and USD. (Ben Amrany)
Yesterday was a fairly positive day for the pound as it stabilised slightly over the last couple of days after the volatile times that we have witnessed over the last few weeks. In fact yesterday the pound was one of the best performing currencies out of all the majors and we saw some good gains against the USD and Euro. Although we had a good day the levels are still extremely weak for clients looking at selling the poound. If you are looking at purchasing the pound then you are currently trading at a two and a half year high for US Dollar sellers and a 15 month high for Euro sellers. While if you are one of the southern hemisphere currencies you are bordering at all time highs for selling Australian & New Zealand Dollars against the pound.
This morning the Governor of the Bank of England is speaking and I am sure you are all aware that they have made comments over the last few weeks that a weak pound is good for the UK economy so it will be interesting to see if his comments continue to weaken the once great British Pound.
Tomorrow will be the big day for the UK though. With the interest rate decision for March fast approaching we beleive that the bank of England may look at further monetary stimulus in the form of QE. If this were to occur then the losses could well continue tomorrow against a host of majors. Recently one memeber of the BoE even stated that we could have negative interest rates. If ever there are signs that the bank would like to weaken the pound those comments should frighten you. If you need to sell the pound you may be wise to look at your position before this key data release tomorrow morning. If you are buying then why not place a limit order in the market so you can try and achieve a better rate than what is currently available.
In the Euro zone there will also be an interest rate decision. If the ECB decide to cut rates (although unlikely) then this could counter act the potential QE in the UK. If the UK do QE and the Eurozone do not cut rates then I would exect the pound to weaken. If there is no QE in the UK and the eurozone cut rates then I would expect to see some sterling strength. So overall tomorrow could be very volatile. I do however feel the Euro will continue to gain as confidence is slowly moving back into the single currency.
If you have a requirement to buy or sell any major currency then please do conatct me with your currency requirement at firstname.lastname@example.org or call the trading floor and ask for Ben Amrany. I will strive to make sure that you receive a better rate than your bank or current provider plus we will make sure that you receive a very personal service to try and help you maximise your conversion by giving you the information to decide when may be a good time to do your currency conversion.
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The pound had stabilised slightly over the last couple of days after the volatile times that we have witnessed over the last few weeks. I am sure that all of you have heard the negative press in the Sunday papers on the state of the UK economy which has meant that when we have opened for trading on Monday mornings the pound has normally dipped. Hopefully things won’t be so sever this weekend but the talk of what the Bank of England may do going forward could knock the pound.
Next week could be a big week for the pound as we have the interest rate decision for March. At the last rate decision certain members of the Bank of England had voted for more monetary easing (QE) and this went some way to weakening the pound recently. I think the markets will be fairly volatile again next week as we approach the decision. If the Bank of England do step up their monetary easing programme I would expect to see the pound weaken once more. Recent comments from members of the Bank of England have made it clear that they are happy for a weak pound as it is supposed to be helping our exports which may just help the economy in the long run!!!
This morning we have seen the pound weaken against all the major currencies. This is on the back of our manufacturing data weakening much more than anticipated. This is not a good sign for our economy and could be the start of further losses. At present sterling exchange rates have lost 7.3% this year against the USD and 6.5% versus the Euro. While we are reaching all-time lows against the Australian & New Zealand Dollar.
If you do have a requirement to make over the coming days or weeks then I would potentially look at things before the decision next Thursday. If you are planning on buying a property or importing for your business and your completion is fast approaching then I would consider your option of a forward contract. (buying your currency without paying up front for it) Please do contact me at email@example.com if you would like more information on this contract option as it gives you the peace of mind to know exactly how far your funds will go and takes away exchange rate fluctuations.
If you are selling any major currency to buy the pound and are looking for greater returns than what is currently available next week may just provide it for you. I would recommend being in a position to capitalise on any further gains by keeping in contact with me. If you inform me what your requirement is by calling the trading floor please ask for me directly Ben Amrany or email me firstname.lastname@example.org I can keep you up to date on the market movements and explain all the options that are available to you.
If you do not currently have an account set up with me but would like one so you can benefit from our exchange rates you can do so by contacting me and I will talk you through everything.
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Do you import goods for your business? GBP/USD is down at a two and a half year low. Let us help you minimise your risk with your currency transfer. (Ben Amrany)
We have recently had a big increaseAs volatile exchange rate fluctuations continue to hamper the pound against a host of currencies, we have recently seen the pound dip down to a two and a half year low against the USD. We have though witnessed a slight rebound against the Euro. If this is a concern for your business or general currency requirement please do feel free to contact me to discuss the situation at email@example.com
The lows against the USD can be a real concern for those of you that are importing goods from the US, Far East or looking at buying a property in US Dollars. The losses against the Dollar are around 6.8% this year. If you have not looked at the situation to minimise your risk to exchange rate flutuations you should do as this can help your profit line. We are able to look at what your monthly, quarterly or even yearly exposure is to the markets and help you budget on a rate of exchange so that you can work out your exact profit without continuing to worry about the rates weakening.
With low interest rates and negative growth to persist for most of this year we expect pressure to remain on the pound. If you would like me to look at your exposure we may just help you save a significant amount on your exchange over your bank. Just email me with your contact details at firstname.lastname@example.org and I will call you to discuss the options that are available to you.
In Other news the UK posted their GDP figures for Q4 of last year. The contraction came out as expected of -0.3% so we did not really see any major movements for the pound as this was expected. It does though go on to cement the negative press the UK economy has been receiving. With the downgrade of our credit rating the pressure is sure to remain and I would recommend trying to capitialise on any spikes that may occur on the currency markets in the coming weeks or months.
The next potential blip for the pound could come when we have our next interest rate decision a week tomorrow. With the Bank of England potentially looking at further monetary easing and happy with a weak pound the losses in March could be big.
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