Author Archives:
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.
Our trading floor predictions for tomorrow – GDP figures and the high/low against the Euro (Daniel Wright)
I thought it may be interesting to quiz a group of traders on our trading floor regarding their thoughts on what we may see tomorrow for the U.K GDP (Gross Domestic Product) figures and where this may put rates during the day against the Euro.
The general feeling appeared to be growth for the U.K – Only just however, below below are the predictions of the traders we polled – if you fancy making your own prediction then email it to me
djw@currencies.co.uk why not see if you can beat the traders, we may even give away a prize if anyone is spot on!
Personally I feel we may see 0.1% growth as expected just about avoiding recession and that the market will creep up a little but will not absolutely rocket as many people do already expect the U.K to just about tiptoe around the R word.
If we are technically back in a recession you would imagine the Pound may drop considerably so it is key to have protection in place if you are close to budget on your overseas purchase – You can place a stop loss order (setting yourself a worst case scenario to be bought out automatically) or book some of your funds on a forward contract (booking a rate for a date in advance for a small deposit) Email me directly if you want a full explanation on these free contract types or just want assistance and the best exchange rates on any currency transfers. Catch me on djw@currencies.co.uk with a brief explanation of your requirements and a number to call you back on and I will be more than happy to help.
Our predictions – Just goes to show how close this is!
| Dealer | GDP | HIGH/LOW |
| JMW | -0.30% | 1.1684 |
| SPE | 0.40% | 1.218 |
| CAB | 0.20% | 1.195 |
| ATR | 0% | 1.1889 |
| THE | -0.10% | 1.1862 |
| MGV | 0.10% | 1.185 |
| JLL | 0.10% | 1.184 |
| CMG | 0.20% | 1.1837 |
| HJR | 0.10% | 1.1811 |
| BMA | 0.10% | 1.1786 |
| AJB | 0.10% | 1.1765 |
| MTV | 0.10% | 1.1631 |
| ASP | -0.10% | 1.1625 |
| TRH | -0.10% | 1.158 |
| PFH | -0.20% | 1.154 |
| DJW | 0.10% | 1.182 |
| HSE | 0.10% | 1.178 |
How will tomorrow pan out? Email me your prediction djw@currencies.co.uk
Pound Sterling takes a hit this morning yet fights back in the afternoon…. Why it is key to have a proactive broker on your side (Daniel Wright)
Sterling took a hit in early morning trading even though the Bank of England minutes did not lead to any surprises.
The release that shook the Pound was U.K unemployment figure which came out worse than expected and led to a sharp drop against most major currencies.
The Pound managed to fight back in the afternoon, most notably against the Euro as we saw a member of the ECB (European Central Bank) comment on the increasing potential of the ECB cutting interest rates in the near future.
An interest rate cut is generally seen as negative for the currency concerned and a hike a positive as it makes a currency more attractive to investors. Even the slightest hint of a rate cut and a currency can devalue which is why we headed back to roughly 1.17 (over a cent higher than the low of the day) before close of trading.
This highlights the need to have someone on your side monitoring rates of exchange… I saved some clients over £2000 on their €235,000 purchase today by telling them to sit tight and wait after the drop we saw in early morning trading…. The decision of course always has to be the clients but they agreed and got their Euros a lot cheaper at the end of the day.
If you have a pending currency transfer to carry out and you want the very best exchange rates to either buy or sell the Pound and you want to be kept fully up to speed with market movements that may save you £1000s then contact me directly and I will be happy to help you compare with your bank or current provider – I pride myself on not only rates but customer service too.
You can contact me directly djw@currencies.co.uk please quote PSF in the subject title and leave me a number to call you on, I look forward to speaking with you.
Pound Sterling Forecast – The week ahead (Daniel Wright)
The Pound has had a fairly good start to the week against the majority of major currencies, slipping a little against the Dollar and Yen but gaining well against the Antipodean currencies, most notably against the Rand gaining almost 2%.
The rest of the week is also fairly busy, overnight we have the RBA (Reserve Bank of Australia) meeting minutes which may give the nod to any future interest rate cuts over there. The AUD has weakened today following weaker than expected growth figures from China.
Tomorrow morning we see key inflation releases for both the U.K and Eurozone – No major changes are expected for the U.K however anything different to market expectations could lead to a volatile morning for the Pound.
In the afternoon head of the European Central Bank Mario Draghi speaks at 2pm so for those of you with the need to buy or sell Euros in the near future you need to be extremely wary of any mention of fiscal approach surrounding Cyprus or any of the other economies in the Eurozone finding life difficult at present.
Wednesday morning is of key importance for anyone looking to buy or sell Pounds in the near future as we have the Bank of England minutes from the last U.K interest rate decision and the unemployment levels, the minutes will show us how the members of the Monetary Policy Committee voted in favour of matters such as further QE (Quantitative Easing) and Interest rates. Any indication that the stance on policy may change in the near future may lead to a highly volatile morning for the Pound so if you have a pending transaction to make involving either buying or selling Sterling then it may be worthwhile letting me know so i can be the eyes and ears on the market for you. You can email me directly djw@currencies.co.uk if you feel I may be able to help.
Thursday we have Retail Sales figures for the U.K which could be a key indicator as to whether or not the U.K has dipped back into a recession so be very wary of a figure worse than expected as it could lead to Sterling weakness.
Personally I think that as long as the Bank of England do not come out with any surprises the pound could have a good week this week but of course anything can happen in this strange market that we have today.
If you have a pending transaction to make involving buying or selling Sterling against any other major currency then it is key that you make me aware, I can then inform you of any opportunities that arise in a market that literally moves every two seconds.
Feel free to reply to email me directly on djw@currencies.co.uk
I have thousands of satisfied clients that I have personally dealt with and quite simply I am here to save you money over your bank or current choice of broker along with helping you get a smooth and efficient service.
Sterling starts the week off with a little weakness – What may the rest of the week bring for the Pound? (Daniel Wright)
Sterling started the week off in a rather somber mood today, losing ground against almost all major currencies apart from the ever weakening Japanese Yen.
Tomorrow morning sees the release of Industrial and Manufacturing productions figures along with the Trade balance level for the U.K – Yet again these may help to again indicate whether or not the U.K has avoided the dreaded recession and however they do come out you can almost guarantee it will lead to lots of major analysts jumping in to make their fresh predicitons on the matter which could lead to a bit of early morning volatility – The releases come out at 09:30am.
In a reasonably quiet week for U.K economic data heads will then turn stateside on Wednesday evening as we see the FOMC meeting minutes from the last interest rate decision over in the U.S. These minutes may easily affect global attitude to risk, just like we saw with the sharp movements on Friday after the U.S jobs data, so if you have a pending transaction to carry out involving the Australian Dollar, New Zealand Dollar or any of the perceived ‘riskier’ currencies then it may be prudent to have a limit order or stop loss in place to take advantage of market movements or indeed protect yourself from adverse market movements. If you would like more information on these handy and free market tools then feel free to ask me directly djw@currencies.co.uk and I will be happy to explain them.
If you are looking to make a currency transfer either imminently or in the future then feel free to get in touch, not only do we pride ourselves on providing great market information on this site but we can get much better rates of exchange than the banks, along with beating other brokerages on both rates and service. Why not get in touch and get a comparison, it takes just two minutes to email me and I will get back to you swiftly during U.K office hours – Contact me (Daniel Wright) the owner and main author of this site and I will be happy to assist you personally. djw@currencies.co.uk
Pound Sterling Forecast – What has happened and what may happen to the pound going forward? Sterling exchange rate news against the Euro, Dollar, Australian Dollar, New Zealand Dollar, Swiss Franc and South African Rand
Good afternoon – Please find the latest news surrounding the Pound and what may happen going forward:
Sterling – Euro
The Pound has had a fairly stable week against the Euro.
Today could have created a great deal of volatility and there were some fairly swift exchange rate movements however head of the European Central Bank Mario Draghi did not announce anything of any great significance during his press conference this afternoon and the bank of England kept everything as normal regarding interest rates and Quantitative Easing.
Tomorrow morning we have European Retail Sales figures out which you would imagine will not be great so we may see a small Euro buying opportunity in the morning.
Sterling – Dollar
The Dollar is seemingly making a little fight back once again against the Pound however four factors could affect this in the short term. Firstly the BOE interest rate decision today, secondly the issue with North Korea…. Hopefully this will calm down before any major action happens however be wary that you could see swift movements for the USD should the current threats start to gain some traction.
Thirdly, we have chairman of the Federal Reserve Ben Bernanke speaking this evening on the U.S economy so be aware of potential sharp swings for the Dollar overnight depending on what he says regarding future economic policy.
Finally, we have Non-Farm Payroll data out tomorrow for the States which can actually affect all major currencies. NFP data is essentially the number of people in non agricultural employment within the U.S and the reason it can lead to market volatility is it can effect global attitude to risk – Keep your eyes peeled for this data at 13:30pm tomorrow.
Sterling – Australian Dollar/New Zealand Dollar
The Pound is still finding these two as tough opposition and with news that commodity prices had risen by over 7% recently and that the Reserve Bank of Australia have once again kept rates on hold. The strange thing with these pairings is that both Governments appear to be disappointed with how strong their currencies are however neither seems to be doing much about it.
The general outlook is that the trend may continue unless someone steps in to do something about it however if global attitude to risk suddenly decreases then there is a good chance we may see a sharp spike and a potential buying opportunity – contact me today if you want to be made aware should this situation occur.
Sterling – South African Rand
This pairing has been fairly stable of late however once again attitude to risk falling globally may lead to the ZAR weakening again along with any further troubles over in South Africa that we saw a few months back.
Sterling – Swiss Franc
Again, no major movements of late for the pound against the Swiss Franc since the huge charge the Swissy made against Sterling a few months ago – Gaining around 8 cents in a week or so. This pairing is a strange one as the Swiss Government are still not particularly happy with the strength of their currency at present so at any point we could see them bring in a new fiscal policy like we saw quite some time ago where the Swiss Franc lost 10 cents in an hour!
All in all I think the strength of the Pound will be reliant on what happens with the bank of England today and also any rumours or predictions surrounding whether or not the U.K will fall back into recession on the 25th April.
If you have an upcoming currency transfer to make and you already have a trading facility then feel free to get in touch and I will be more than happy to assist you or monitor the market on your behalf. If you do not have a trading facility yet think I would be able to help you both in terms of a great rate of exchange and level of customer service then click here to register with us which is completely free and carries no obligation but will allow you to get a comparison against your current provider to see if I can help you.
I look forward to speaking with you!
New from Pound Sterling Forecast – Email rate checker get in touch today!
Well, I did predict something fairly big was due to happen a few weeks ago and so far Cyprus has certainly had quite an impact on the markets. I am sure there is still more to come from all of this and that this year is going to be interesting yet a little worrying, my previous post surrounding this can be seen by clicking here.
Are you carrying out a currency exchange today? Do you want to make sure you get the very best rate of exchange?
No matter who your current provider if you are carrying out a currency exchange today either on a standard or forward contract basis I am sure I can save you money.
If you are a regular reader you will be aware that this site has been around for years and all the authors on here including myself work for a specialist foreign exchange brokerage based in the U.K that has been trading for nearly 14 years. We are FSA regulated and authorised as a payments institute and have also won numerous awards for our rates of exchange including best exchange rates in the Sunday Times and Daily Telegraph, on top of this we also have won a National business award for our customer service.
So far I have personally helped thousands of clients save money from contacting me through this site. As a trial I welcome anyone today who is due to exchange currency (minimum £5000) to email me with the price they have been quoted by their broker plus any associated costs. Within 5 minutes I will email straight back with the price I can offer along with costs, I will also add a link to register if the rate is of interest and if it is then it takes just two minutes to get set up and I can have your rate booked and your money saved within a matter of minutes. If the rate is not of interest then you do not have to reply to me.
Even if you think you are currently getting a good rate you may not be, like with buying anything it is always good to compare and I am willing to cut our company margin for clients if it means winning new business.
Please feel free to email me directly (Daniel Wright) with your quote and costs on djw@currencies.co.uk and I will get back to you within five minutes today until 6pm.
