Pound Sterling Forecast

The Pound Euro rate is a major talking point for many of my clients at the moment will it or won’t it continue to increase?? Lets look at the main factors surrounding the situation:

Economic data for the U.K has been fairly positive of late, calls for further QE (Quantitative Easing) appear to be dampened now too.

All signs are pointing towards the U.K avoiding a recession next week when GDP (Gross Domestic Product) figures are released however this is not set in stone

There have been calls for the European Central Bank to cut interest rates (An interest rate cut is generally seen as negative for the currency concerned)

Spain is having troubles and is virtually front page news at the moment, this can surely only decrease confidence in the Euro and make it weaker.

All in all i don’t think rates are going to rocket higher but i do feel they will slowly climb in the near term, unless we see the U.K dip back into a recession next week or even indeed if it is really close, if you are looking to sell Euros it would be sensible to sell at least half to protect yourself from further adverse movements. I can help you in terms of getting you the very best rate of exchange when you do look to do this, I have now helped over 550 that have contacted me through this site as if it makes the difference of winning a deal from our competition I am n ot afraid to cut my margins and make your rate much better than you are aleady getting. I work for http://www.currencies.co.uk/referral.asp?F_ID=1215 please take a look at our website we are a Public Limited Company and have been trading for over 12 years now so you can be sure to use us with confidence. If you would like further information then please email me directly djw@currencies.co.uk

The Pound saw yet further gains today against the Euro and indeed a basket of major currencies.

This is a breath of fresh air for those in the process of purchasing a foreign property or that have had to put up with poor exchange rates over the past few years.

If you are in the middle of a purchase overseas or rates at present are well over what your company has budgeted for the year then there is the option of booking out your rate on a forward contract… This is where you can lock in to a rate of exchange for anything up to two years for just a small deposit, you can then send the balance to us at any time on or before the date we have agreed at no extra cost and we will provide the Euros for you at the original agreed rate.

Of course if the rate continues to climb you do miss out but there is nothing better than having the peace of mind that you know exactly how much that property will cost and that you won’t get any nasty surprises when you come to pay your balance.

I have been saying the Pound will climb on this site for an awful long time now and those that have sat tight and ridden the wave with me will have truely benefited.

If you have a transfer either large or small (we do not deal in cash) and you would like me on your side then email me directly djw@currencies.co.uk and I will be happy to help you, you could also join our mailing list for free by filling in the form in the top right hand corner of this site… Or if you really want to hear news ‘straight from the horses mouth’ give me a call on the number just above that form.

Today sees the release of the Bank Of England Interest rate decision, no change in rates is expected and to be honest I feel it will probably be a bit of a non event, however be aware that the BOE do like to throw a spanner into the works whenever the Pound does start to perform well so anyhting could happen.

The key data for people to be aware of is U.S Non Farm Payroll data – Regular readers will be aware this can effect all major currencies and can lead to just as much market volatility as an interest rate decision. Now, the big problem is that we have a bank holiday in the U.K this means that you will find it hard to call your bank or broker to book out an exchange rate should rates either move drastically against you or indeed in your favour. There are options available to youand I can help you should your bank not offer these options. You can place a limit order and a stop loss order, this means you set yourself an ideal trading level, or a worst case scenario and should either get hit then your currency is bought out or sold automatically for you, I would then merely get in touch after the Easter break to inform you and you would be required to settle the contract with us as per normal.

I work for Froeign Currency Direct and built this site to help give people simple information on the markets without all the technical analysis that quite simply confuses people, If you find my site of use or want to get more information on how I can save you money then do feel free to email me directly djw@currencies.co.uk and I shall be happy to help.

Well we do indeed have a lot to cram in this week before a long weekend and what may even be a white Easter here in the U.K the way things are going.

After last weeks pasty and petrol combo that grabbed the headlines, this week should bring a slightly more interesting and relevant amount of news as there is a lot of economic data out accross the globe.

Today – GBP EUR AUD

Already this morning we have seen manufacturing data for Germany come out worse than expected and for the U.K data has indeed been better than expected, leading to another good start to the week for the Pound against most major curencies.

Shortly we will see the release of the European unemployment figures at 10:00am and i’m fairly sure that this won’t be news to celebrate for the Euro once again.

Overnight we see the Reserve Bank of Australia release their interest decision and it has been suspected a rate cut could be in order some time soon over there, should we see this then you may find the AUD weaken once again (an interest rate cut is generally seen as negative for the currency concerned as it makes it less attractive to investors). Should you have a transfer either buying or selling AUD then a limit or stop loss order may be sensible to protect yourself overnight, email me djw@currencies.co.uk for more details on this option.

Tuesday – GBP EUR

European GDP figures are out tomorrow morning and contraction is on the cards, this may again lead to Euro weakness in early morning trading however be aware that this is expected and the markets do move on expecatations as well as facts so if this release isn’t as bad as expected the Euro may pull some ground back.

Wednesday GBP EUR AUD

Australia release trade balance figures very early on Wednesday morning, this is a measure of imports and exports and should show us just how well Australia is still riding the Chinese wave.

For Euro followers the ECB (European Central Bank) interest rate decision is out followed by a press conference in mid afternoon. Quite often the rate decision doesn’t throw too much into the mix however the press conference follwing it genrerally leads to Euro volatility depending on what head of the ECB Mario Draghi  has to say about how he plans to tackle the current crisis.

Thursday - GBP CHF CAD USD

Before trading lines open those with an interest in the Swiss Franc may see some movement as CPI (Consumer Price Index) is released, this is inflationary data however I highly doubt it is going to move the marjkets too much, the GBP-CHF rate has been fairly static to say the least of late as investors wait and see just what the Swiss National Bank will pull out of their locker next.

Industrial and Manufacturing production is next on Thursday morning for the U.K and following a fairly positive release this morning I would not be surprised to see this lead to a minor spike again for the Pound.

Heads turn to Canada at 11:00am as the Canadian unemployment rate is released, expectations are for it to stay at 7.4%  (much better than the 23% in Spain however) any change to expectations could lead to a volatile end to the week for the Pound.

The USD finally gets a go on Thursday lunchtime at the end of what is quite a quiet week for the Dollar as jobless Claims data is out (similar to unemployment and may give an indication to how Non Farm Payrolls will come out next)

Finally to round off the week the NIESR (National Institute of Economic and Social Research) release their GDP estimate for the U.K – GDP is in no doubt in my mind going to be the big talking point this month (If figures from quarter 1 for the U.K are negative we are back in a recession officially) and they are expected to predict a growth of 0.1% – Any change to this could lead to a mad end to the week and the it is going to be so tight as to whether the official figure at the end of the month is positive or negative that the Pound will no doubt be extremely jittery this month.

I personally feel the Pound may have another positive week, if you have an upcoming transaction to make either this week or in the coming months then feel free to contact me directly by emailing me djw@currencies.co.uk – The company I work for have won numerous awards for both exchange rates and customer service and if you find my site here a valuable read then having me as your personal broker should come in extremely handy too. I look forward to speaking with you.

Sterling has indeed crept up over the course of the week against the majority of majors as I had mentioned in my earlier post this week http://www.poundsterlingforecast.com/2012/03/25/u-s-gdp-figures-this-week-may-lead-to-sterling-spike/ - Once again staying reasonably stable against the Euro in what is now a considerably boring currency pair to be keeping an eye on.

This morning we saw a flurry of announcements from the Bank of England inclusive of credit conditions and money supply which

Later this afternoon the U.S is the main talking point, we see U.S GDP figures that could lead to quite a bit of volatility for most majors and also some unemployment figures for the States later on in the afternoon. Head of the Federal Reserve Ben Bernanke speaks at 16:45pm which as always may throw absolutely anything into the mix, however he spoke earlier in the week and I wouldn’t imagine any major changes from there.

Overnight, Consumer Confidence figures are released for the U.K at 00:01pm and with the pending petrol strikes and the added tax on pasties in the U.K i’m sure the general consumer isn’t in the best frame of mind at the moment, so we may see a little weakness overnight for the Pound.

If you have a pending currency transfer to carry out then I will be more than happy to help you both in terms of getting a better rate and a much better service, please feel free to contact me directly djw@currencies.co.uk with a contact number and I shall be happy to give you a call.

Sterling had a great day against the USD in trading yesterday and stayed fairly stable against the majority of majors.

We are around a five month high against the USD, however be aware we are now possibly going to find ourselves in limbo much like we have been against the Euro over the past few weeks stuck hovering just below and just above the 1.20 barrier. GBP-USD is now just below 1.60 and I fear we could see a similar pattern forming until we get a nudge one way or the other by means of an important data release.

Earlier this month 800 Eurozone banks brought €530bn from the ECB in the  “largest investment of its kind”. On the same day Mario Drahgi  the head of the ECB said the Eurozone had avoided a “major, major credit crisis” since this announcement the Euro zone has shown signs of stabilising and the Euro has strengthened by roughly 1% against the GBP.

The GBP/EUR exchange rate is one to watch as Europe  continues to show positive signs of stabilising, in recent years the Euro has  bounced back faster and stronger than expected against the GBP.

• November 2008 rate 1.21, 1 month later GBP fell 15.7% to
  1.02
• June 2010 rate 1.2251, 1month later GBP fell 4.3% to 1.1721
• August 2010 rate 1.2250 3 months later GBP fell 8.7% to
  1.1184
• Jan 2011 rate 1.2069 4 months later GBP fell 8.3% to 1.1057

The GBP hit an 18month high of 1.2157 high at the start the year and has  remained above the 12month average for more than 2months. Ask yourself how much  this type of movement would affect your business or  upcoming property purchase? If you have a currency transfer to carry out in the coming weeks or months either for yourself or your company then please do feel free to email me directly djw@currencies.co.uk with a brief explanation and a contact number and I will be happy to get in touch to assist you with both an explanation of the options available to you and my thoughts ahead of what is sure to be an extremely volatile market.

The States seems to be the talking point this week with Federal Reserve Chairman Ben Bernanke Speaking on Tuesday evening about the economy which of course can throw up absolutely anything as we have seen over the past year or so.

Most importantly we see the release of U.S GDP (Gross Domestic Product) figures On Thursday at lunchtime if you are in the U.K. THis release can effect a host of major currencies and with the old saying on the markets of when the U.S sneezes the U.K catches a cold a positive release for the U.S may indeed benefit the Pound.

With China seemingly slowing down we have seen the Australian Dollar struggle over the past week or so and it wouldn’t surprise me for the AUD to have a volatile week once again. If you have a transfer involving either buying or selling the Australian Dollar I suggest you inform an experienced broker if you already use one, if you don’t and you have been just buying or selling when you see a good rate then maybe it is time you got some help on your side.

Feel free to email me directly djw@currencies.co.uk if you have a pending transfer to make and I will be happy to explain the various options available to you to either protect yourself from adverse market movements or to make sure you take advantage of a spike in your favour no matter what time of day or night.

As the week goes personally I feel that confidence is slowly creeping back into the Pound so we could have a fairly poitive week however as you are all aware, anything can happen these days!

Once again the headlines are all about how much the British public will be poorer than ever over the coming year or tw, but as the Pound goes although I don’t feel it will rapidly strenghen in the coming weeks I do feel that the Pound will gather strength towards the back end of the year should things go to plan.

Of course this is by no means set in stone as all of you will know, predictions can go out of the window within a few days should we see a shock announcement to the markets globally(and there are indeed plenty of those around these days!)

People will no doubt be hit in certain matters with the budget and may gain through others, but the positive thing I am taking from it is that it does appear to support growth in the economy which in essence can only be good for those of you waiting for the Pound to strengthen before you shift your savings overseas to buy that dream second home.

I constantly speak with clients who have now emigrated to New Zealand or Australia and have spent the last year or two dripping over the proceeds of a house sale until the rates they saw when they were applying for their visas a few years ago come back.

Hopefully with the slowdown in China and numerous other factors we may see improvement for people in this positon soon…By no means do I think we will be back at 2 to the AUD or 3 to the NZD but I would not be surprised to see an improvement.

If you have transfers to make involving either buying or selling the Pound I can help you when it comes to getting the best exchange rates both in terms of having a knowledgable input and getting you the highest rate when you do decide to book your currency. Please feel free to email me if you would like me to help and you find my site useful. djw@currencies.co.uk

I have been dealing with private and corporate clients with the need to transfer currency for years now, and without showing off know the market and the process like the back of my hand.

Whether it be buying a dream home in France, buying tractor parts from Poland or sending home wages from Switzerland I can personally help.

I work for Foreign Currency Direct PLC and we are a specialist foreign exchange brokerage, we pride ourselves on not only the best exchange rates but also a very high level of customer service too…. If you have found my site useful over the past few years (I now get nearly 30,000 hits a month so someone must like it ) do feel free to contact me directly djw@currencies.co.uk – I have outlined the simple process below… Even if you have a current broker there is no harm in comparing, people often find that by making a quick enquiry with me I can actually save them quite a lot of money.

Trading with me at Foreign Currency Direct is simple and easy – All you need to
do to set up a trading facility is click on the link to Foreign Currency Direct
below and fill in the online registration form which takes approximately 2-3
minutes.

Opening a trading facility incurs no costs and carries no
obligation to trade through us, it simply puts you in a position to book out a
rate should you wish to.

www.currencies.co.uk/referral.asp?F_ID=1215
(click here)

Once the registration is completed I will personally get in touch with you to
discuss your requirements.

Foreign Currency Direct have been awarded ‘best exchange rates’ for three years
running by the Sunday Times – A great credit to the company and it also goes to
show that we can save you a great deal of money at a time where everyone is
trying to tighten their budgets.

Once the facility is open and I has achieved you a rate that you are happy with
it is again a very simple process from there forward which I will outline
below:

1) You go through a brief verbal agreement over the phone in order to book out
your rate.

2) Within 5 minutes I will forward across a contract note to you which can be
emailed, posted or faxed which will contain all the details of the transaction,
our bank account details for you to transfer to and a section for you to fill
in with the details of where you would like the funds to be sent.

3) Once a rate is booked FCD generally ask for settlement within 2 working
days, and once funds are received and everything in place we send your funds
out as a ‘swift’ international transfer – they should arrive in your designated
account within 1-3 working days.

4) Upon funds being sent out we can provide an internationally
recognised proof of transfer which will detail where funds have been sent and
when they are due to be credited, extremely helpful when transferring funds
overseas!

I would be happy to help you in any circumstance so I await to hear from you.