Category Archives: AUD

Sterling Consolidates Against Most Majors

After initial wobbles early this morning, sterling has consolidated its gains before the Easter break.  Most UK news of late including retail figures and unemployment, has all been exceptionally good, allowing the pound to make headway against most of the majors.  However the gains are being limited by the fact the Bank of England is still highly unlikely to adjust interest rates before the second quarter of 2015.

The UK markets will be closed tomorrow and on Monday, however many other countries will be open for business as usual so we could still see some movement although I suspect sterling will be reasonably well supported because of the recent jobs news.  We have Australian next Tuesday evening so I am hoping we can break back into the 1.80 barrier for GBP AUD, and whilst European inflation figures recently were just about passable, I am hopeful that next week’s Markit PMI could trigger further weakness for the single currency.

If you are likely to need a currency transfer in the near future and would like to discuss how best to go about it then feel free to email Colm at cmg@currencies.co.uk and I would be happy to explain how our services work.

Sterling having a better run as we head to the long Easter break (Mike Vaughan)

As we head to the long Easter weekend the pound has begun to show some signs of positivity, notably against the Euro and US dollar with rates at a near four year high against the greenback. Prior to this the pound had seen some volatile times against a host of currencies and in particular the Australian Dollar and New Zealand Dollar.

In fact earlier this week the pound was trading at its lowest level against the Australian Dollar since November last year having shifted over 7% from the highs of January. This makes a difference of 24k AUD in a little over three months on a £200k money exchange. Looking at other currencies and the market is also proving very volatile against the NZD having shifted over 5% since February and the ZAR with the pound being some 6% down on this year’s high of 18.81.

Since these lows the pound has shifted back towards 1.80 against the AUD following strong UK unemployment figures yesterday which are now below the 7% level sitting at 6.9% and the sentiment coming from the RBA minutes that maybe they are not as comfortable as originally suggested with the current value of the Australian Dollar. For me this pair is now likely to settle around the 1.80 range.

To finish off the working week the UK has little in the way of data releases with initial jobless claims from the US at 13:30 the major data of note. Should you need to get anything locked in before the Easter weekend then there is still time. Registration is free and carries no obligation and can be done on-line all in a matter of minutes. Contact the office on 01494 787478 or email Mike mgv@currencies.co.uk

Sterling receives a boost following better than expected unemployment figures (Daniel Wright)

The Pound has had a really good morning against all major currencies this morning following much better than expected unemployment figures for the U.K and also news that after six long years wage growth has now overtaken inflation.

Both of these factors have led to a spike in the market for Sterling which is great news for anyone looking to buy foreign currency in the near future.

If you are in the process of buying a property overseas then your dream home abroad has indeed just become a little cheaper for you!

We have some European inflation data out shortly and then this afternoon we have the Canadian interest rate decision and statement so keep a keen eye on exchange rates between 3-4pm this afternoon.

Personally I think the Pound has the potential now to kick on once again as long as we see this positive trend continue in terms of economic data.

If you are looking to buy or sell foreign currency in the near future then it is well worth getting in touch with me directly. Not only can I help you achieve better exchange rates than your bank or current broker but I can also help you with the timing of your transaction with years of knowledge of the currency markets. Feel free to email  me directly on djw@currencies.co.uk with a description of what your requirements are and a contact number and I will be more than happy to assist you personally.

Where Next for Sterling Exchange Rates

It’s been a quiet day for the Pound on the currency markets, with little movement against both the EUR and USD. GBP/EUR rates continue to float around 1.21 on the exchange and the markets seem to be waiting for guidance before making their next decisive move. With concerns over France’s economic health and the very real threat of deflation hanging over the region, you can make a very good case that Sterling is more likely to find further market support from its current position than the EUR.

However, there is a is a case to be argued that the EUR, when considering its recent history against GBP, has far more scope for improvement than the Pound. If the negative issues raised earlier in this post can be resolved then you do feel the EUR could go on a run and break back through 1.20 for a sustained period.

Personally I feel GBP will continue to be well supported in the market, in line with the improvements we are seeing in the UK economy. Any move towards 1.25 against the EUR is likely to find market resistance but it will be difficult for the EUR to make a decisive move under 1.20, based on the current market conditions.

We have seen a positive spike during Tuesdays trading against both the AUD and NZD, following loses against both currencies last week. With China’s economy starting to show signs of improvement and their demand for Australia’s raw materials once again starting to increase, we may find the AUD can gather market support over the coming weeks and help to control Sterling’s recent gains.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly at mtv@currencies.co.uk.

Do you need to exchange foreign currency? Whether you plan to use your bank or already have a currency broker in place we can more than likely save you a great deal of money! (Daniel Wright)

I have now had thousands of new clients contact me through this site in the 4 years I have been running it and have found that I have been  able to save the vast majority a great deal of money on their foreign exchange needs.

Some were planning to just send money through their banks and others have used a broker a few times already if not for years…. I would say 99% of people that have got in touch have got a better rate through me than the other options they have available.

For the sake of taking two minutes to email me directly you may potentially save yourself thousands of Pounds so if you feel that our award winning exchange rates and level of customer service may be of use then feel free to contact me (Daniel Wright) on djw@currencies.co.uk

Benefits of you getting in touch and dealing with me are:

  • I will be your personal account manager, so you have one point of contact for all transfers
  • We have been trading for over 14 years and are one of the UK’s leading specialist foreign exchange companies with over 45,000 satisfied clients
  • We are registered with the FCA and Authorised as a Payments Institution
  • We have achieved Best Currency Deals, Best Currency Provider and Best Exchange Rates 3 years running by the Sunday Times as well as more recently by The Telegraph. I am confident I will get you the best rate.
  • We have been recently voted as a finalist in the Orange ‘National Business Awards’ for customer service
  • We are purely an execution only service and we do not speculate with your funds, or company funds

If you feel that you are not getting the very best rate of exchange that you can through your bank or current broker or feel that there is room for improvement on the service side of things then it may be prudent to get in touch.

Once again all you need to do is email me (Daniel Wright) on djw@currencies.co.uk with a contact number and a brief description of what you are looking to do and I will be more than happy to contact you personally.

Next week we have a fairly busy start with key inflation data on Tuesday morning for the U.K followed by unemployment figures on Wednesday, keep checking back here for further information on how this affects the strength of the Pound.

 

Trading Week Overview (Matthew Vassallo)

Sterling was well supported during the early part of the trading week, following the release of better than expected UK Industrial and Manufacturing Production data. These positive figures helped to push GBP/EUR levels through 1.21 on the exchange and this good feeling was reinforced by the NIESR’s prediction that UK GDP would grow at 0.9% for the first three months of this year, the fastest pace at which our economy has grown since 2010.

Thursday was also an important date in the diary as we had the latest BoE interest rate decision and monetary policy statement, both of which stayed at their current levels. A monthly report by the ECB seemed to help ease pressure on the EUR and rates have dipped back under 1.21 as we move towards the end of the trading week.

GBP/AUD rates have dipped below 1.80 on the exchange, as the AUD continues to move away from its four year low against GBP. An announcement this week that Australia and Japan have agreed a trade deal is also likely to reinforce this positive feeling. The deal between Australia and Japan has been in negotiation for seven years and is seen as key to future trade between the two economies. The agreement in place will lower tariffs on key imports and it is the first time Japan have negotiated such an agreement with another major economy.

It’s been well documented that the AUD has found life tough going due to a slowdown in China’s demand for their raw materials and the Reserve Bank of Australia (RBA) was keen to see the AUD lose value, in order to help boost exports. Following the market loses witnessed against Sterling over the past twelve months the RBA recently stated that they would not be cutting their base interest rate further and this seems to have steadied the ship.

It now seems the markets have found a level in which GBP/AUD rates seem to be fluctuating and if GBP/AUD rates did spike above 1.80 again I would be very tempted to consider my position.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our exchange rates with your current provider, then please feel free to contact me directly at mtv@currencies.co.uk.

Sterling SPIKES – GBPEUR Trades at 1 month high

The value of the pound has shoot up this week, a majority of the gains were seen on Tuesday which was the best day for the Pound in nearly a month.  The movement there was a lot of promising UK data including a boost in productivity, GDP figures and an IMF report which increased the growth forecast for the UK.  This climb gave our traders the opportunity to buy both the euro and the USD at a 1 month high.  The IMF report was the most influential following its upwards revision of growth in the UK through 2014.  Growth is now expected to climb by 2.9% compared to 1.5% they forecasted less than 12 months ago.  This means that the UK is the best performer this year across the G7, even higher than the world’s largest economy the US.

Following the breaking news the market SPIKED up giving some of the best prices we have seen for MONTH. Here we offer a number of services including both SPIKE NOTIFICATIONS and RATE ALERTS which are designed to help our clients get the most out of the market. For more information simply get in contact with myself – STEVE EAKINS via email at hse@currencies.co.uk or by calling me on 0044 1494 787 478.

Following these gains there normally a risk that levels fall back as traders take their profits but I believe there may be another day in it yet as today we have more data due, this time from the central banks both sides of the channel. The BOE release their Interest Rate Decision which is expected to have no surprises and therefore little impact on the markets. Everyone will really be focusing on the European Monthly Report which is released at 9 am today. The Euro has also climbed in value against most currencies like the USD, which has reached a 29 month high only last month. This climb in its value is greatly hurting the single currencies competitiveness with exports and has increased the risk of deflation. The bank has made commentary suggesting that they are aware and that they plan to bring in new policies to tackle it, all of which are expected to weaken the euro.  These new policies are probably not going to happen for a month or two but any hints released today could impact the value of the GBPEUR.

My view is that current levels are at the top of GBPEUR’s range over the next 7-10 days meaning buyers may want to trade sooner rather than later. For more information simply get in contact with myself – STEVE EAKINS via email at hse@currencies.co.uk or by calling me on 0044 1494 787 478.

Two Important considerations forecasting Pound Sterling Exchange Rates

Good afternoon Readers! The pound is at some truly excellent levels currently, levels that should not be easily dismissed in the hope of much better rates. If you need to buy or sell currency there are a few pointers to note that will make your life easier and your wallet heavier!

Accept that you will not get the ‘top’ or the ‘bottom’ of the market. All too often I am managing one of my client’s currency exposure and they base all their calculations on a recent high. So for example selling Euros to buy pounds at 1.19 or buying Euros with pounds at 1.22. If you do this you are likely to be disappointed. Speak to me about what is a more realistic rate to achieve by calling 01494 787 478 or why not email me jmw@currencies.co.uk

Do your research! There can be major difference between the exchange rates offered by banks and currency brokers like us. But there can also be major differences between the rates offered by different brokers. Here at poundsterlingforecast.com we seek to undercut other brokers and on large volumes the differences can be significant.

GBPEUR is currently 1,2131, GBPUSD is 1.6751, GBPAUD is 1.7921 and GBPCAD is 1.8261

Getting the best exchange rate on a large volume currency transfer (£10,000 +) makes a big difference to the amount you receive. If you are transferring a sum of this size and want to learn the current forecast please contact me on jmw@currencies.co.uk for the very best rates and latest news on what will move your rate!

Jonathan

 

Good Week So Far For Sterling

As predicted sterling is having a good week so far after better than expected UK Industrial and Manufacturing figures yesterday, however much of the key data this week is still to be released, so there will no doubt be a few twists and turns in the value of the pound.

The Dollar has struggled against the pound in the last few days, but the big driver is likely to be the US Fed Minutes out this evening, so I would expect some serious Dollar volatility in the next 24 hours.  Whilst the pound has remained pretty robust against the Dollar this year, I still feel that ultimately there will be some form of correction once US growth really kicks in to interest rate forecasts, and the pace at which the Fed taper their QE program.  Whether this will be triggered tonight seems unlikely but is a risk, so if you are buying Dollars it may be worth taking a look.  Should you wish to find out more about how to transfer Dollars at better exchange rates than the banks then email Colm at cmg@currencies.co.uk and I would be happy to explain.

Sterling Euro rates are on the way back up due to good UK data and more signs of wobbles in Europe.  German exports were down this morning, and whilst overall unemployment figures for the EU have dropped recently, the rate has gone up in Italy, and we have Greek figures out on Thursday, so is the divide between Nordic states and the southern continent increasing?  German CPI data could be hugely important on Friday as if this is weak we could see another round of Euro weakness, given inflation in Europe is becoming a concern.  Low figures have already been mentioned by Draghi as problematic, and the longer they remain low, the harder they will likely be to combat, so markets may start pricing in some kind of intervention by the ECB.  Euro sellers beware, whereas this could be a great opportunity for anyone looking to buy Euro with pounds.  If you would like help to get the best rate to sell Euro, then why not try our currency transfer service?  Email Colm at cmg@currencies.co.uk to find out more.

The Aussie Dollar has continued to push the pound after the signing of a Japanese Australian trade deal the other day, raising growth prospects and opportunities for the economy Down Under.  Given the RBA halt to rate cuts the AUD seems to be going from strength to strength against the pound, USD, and Euro, so it will be interesting to see what the Fed Minutes do here.  We also have Aussie jobs data out overnight so this could be a watershed moment- either reinforcing the Aussie’s position, or causing it to retrace its steps if the data is weak.  Chinese CPI comes out on Friday so expect a turbulent few days for the Aussie Dollar and sellers may be ready to move quickly just in case.  If you are transferring Aussie Dollars into Euro, pounds or UD Dollars, and would like some assistance then feel free to email me, Colm, at cmg@currencies.co.uk and I would be happy to help you get the best exchange rate.

GBP/EUR through 1.21 and GBP/USD close to 1.68 (Mike Vaughan)

Sterling has had a strong day against a host of currencies following a strong showing this morning for UK industrial and manufacturing figures. Both were much stronger than forecast setting the tone for the day with the pound rallying to a high of 1.2145 against the Euro and  1.6755 against the US dollar. Sterling was also to find some support following this afternoons NIESR (National Institute for Economic and Social Research) latest GDP estimate which has pushed its latest estimate from 0.8% to 0.9% This bodes well for official GDP data scheduled for release later this month.

Looking ahead to the rest of the week and tomorrows FOMC minutes will be the next main area to focus on. This will give insight as to future monetary policy and what the FED may have in store relating to future tapering of QE and interest rates. This can have a big impact on risk appetite and can prove to be a volatile time during and after its release. These will be made publicly available at 19:00 tomorrow.

Looking ahead to Thursday and the ECB monthly report will be the focus as this contains a detailed analysis of the prevailing economic situation and the risks to price stability. It also provides articles on a wide range of topics related to the tasks of the ECB and hence clues can be given as to future policy. With the current deflationary pressures in Europe this will be of particular interest, any clues as to whether they may consider an interest rate cut and this could see further pressure on the Euro.

Following the ECB monthly report at 09:00 will be the Bank of England interest rate decision at 12:00. Rates are expected to remain on hold at 0.5% and I would expect little impact on the pound as a result.

For me the pound is currently representing some good value trading at a one month high against the Euro and a near four year high against the greenback. To take advantage and find out more about the currency service we provide then please contact the office on 01494 787478 or email Mike at mgv@currencies.co.uk

 

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