Category Archives: AUD

Pound Sterling Forecast – The Week ahead for Sterling exchange rates (Daniel Wright)

There are plenty of points of interest for those following Sterling exchange rates this week so below is a summary of what lies ahead and how it may affect your rate of exchange this week. Please do remember that if you find our information useful then we do also carry out currency exchange for clients looking to buy or sell foreign property, businesses that have the need for foreign exchange and all sorts of different reasons so it is well worth getting in touch with me (Daniel Wright) by email on djw@currencies.co.uk if you would like access to award winning exchange rates and customer service.

Tomorrow is reasonably quiet for most major currencies similar to today, however for those following the Australian Dollar you should be aware that deputy Governor of the RBA (Reserve Bank of Australia) speaking this morning at 09:55am which, depending on what he says may lead to a little market volatility for AUD exchange rates throughout the course of the morning. Overnight we saw a flurry of economic data from Chinas including growth figures which came out than expected and have indeed give the AUD a little already today.

Wednesday is when the data really starts to hot up and we have data that may affect GBP, USD, CAD, AUD and NZD rates of exchange so if you are looking to trade any of these currencies in the near future you need to make us aware so we can get in touch if there is a large movement. Feel free to email me Daniel Wright directly on djw@currencies.co.uk or to call us on 01494 787 478 so that we can act as your eyes and ears on the market and highlight any buying opportunities.

U.K starts the ball rolling at 09:30am with the Bank of England minutes from their last interest rate decision. The minutes will basically let us know how the 9 members of the MPC (Monetary Policy Committee) voted at the latest decision in terms of interest rate change. Any change in favour the number of members voting in favour of an interest rate hike could give the Pound a boost and if we have fewer members opting for rates to rise, Sterling may drop substantially.

At 13:30pm we have inflation data from the States and expectations are for a slight drop from 1.7% to 1.6%. We may see a little Dollar weakness if inflation levels are any lower than this level, just like we saw a week ago for Sterling when rates plummeted following a much lower than expected CPI level.

Canada quite possibly has the most to offer in terms of economic data on Wednesday with Retail Sales, Interest rate decision, rate statement and a press conference all out between 13:30pm and 16:15pm. Retail Sales are expected to have improved slightly which may push the Canadian Dollar back down toward the 1.80 level but do be cautious that with the rate statement and during the press conference a dip may be temporary as any negative comments could knock the Canadian Dollar straight back down again.

The Antipodean currencies then take center stage with Governor of the RBA Glenn Stevens speaking at 22:00pm and inflation data coming out for New Zealand at 22:45pm. Both of these data releases are out overnight any many regular readers will remember it was only a short period of time ago that the RBA Governor commented that he felt the AUD was overvalued which led to sharp movements for the Australian Dollar overnight. If you are looking to buy or sell AUD or NZD then it may be prudent to look at one of our various contract types including a limit order or stop loss, contact me to find out how these options work.

Sterling then takes the reigns for the rest of the week with Retail Sales figures due on Thursday morning and GDP (Gross Domestic product) data due on Friday morning. Expectations are for Retail Sales to have dropped off a little and for our growth figures also to have retracted ever so slightly which may give the pound a tough end to the week.

If you would like to make the very most of your money then it is extremely important you have a proactive broker on your side with access to great rates of exchange. Feel free to contact me direct by email djw@currencies.co.uk or calling 01494 787 478 and I will be more than happy to assist you personally.

 

 

Sterling news

  • October was always going to be a difficult month for the pound with economic news reflecting September’s Scottish Referendum which sapped business and consumer confidence. This week the dollar climbed to a one year high against the pound and the euro too recently hit a one month high against sterling as September’s Inflation data caused the pound to slide. This is I believe presenting a good short term opportunity to sell euros and dollars for the pound, if you have such a requirement please contact me on jmw@currencies.co.uk to discuss a strategy to help you maximise your exchange rate.
  • Ebola! The UK currently only has 28 beds for specifically treating Ebola infected patients. Were the virus to spread rapidly throughout the UK or Europe, public services would be under immense pressure and financial markets would become very volatile. The UK’s Chief Medical Officer has stated current protection for the UK is sufficient but with £125m pledged so far to fight the situation in Sierra Leone alone, the unknown cost and impact of the virus on the currency markets should not be underestimated. If you have an important transfer in the future it is always wise to consider every angle, please contact me on jmw@currencies.co.uk or call 01494 787 478 and ask to speak with me Jonathan to keep up to date.
  • If the Ebola crisis really picks up I would expect the USD to strengthen and this could be very beneficial for anyone selling USD for the pound. The Euro might weaken in such a scenario and higher yielders like the Aussie and CAD might weaken too. For the latest news and information please contact me  on jmw@currencies.co.uk.

U.K inflation data weakens Sterling in morning trading (Daniel Wright)

Inflation data released this morning for the U.K has led to a drop in the value of the Pound as figures came out much lower than expectations.

The worry was that inflation figures may have dropped off a little however the actual figure released was a lot lower than had been predicted.

Lower inflation will lead to the potential of an interest rate hike being put back a little further and an interest rate hike generally is seen as positive for the currency concerned and with the markets moving on speculation as well as firm economic releases.

We have also seen the Euro weaken off lately and the reason for this is extremely low inflation figures leading to the risk of deflation, one of the ways they are looking at to combat this is by introducing QE (Quantitative Easing) which as many regular readers will know generally is seen as very negative for the currency concerned as it is essentially printing more money and injecting it into the economy.

We still have quite a busy week ahead with a few interesting points of note including unemployment figures for the U.K tomorrow (predicted to have improved to 6.1%) and U.S Retail sales figures tomorrow afternoon. For those with an interest in the Euro you should be aware of President of the European Central Bank Mario Draghi speaking at 8:00am tomorrow morning which could move Euro exchange rates in advance of trading lines opening.

if you have a currency transfer to carry out in the coming  days, weeks or indeed months then it may be prudent to contact me directly as the company I work for has not only won awards for our exchange rates but also our customer service. You can contact me directly on  Djw@currencies.co.uk please leave a contact number and a brief description of what you are looking to do and I will be happy to get in touch.

Is Sterling Losing Its Shine? (Colm Gilhooly)

Some of the shine has come off the pound lately as UK data is still good but probably not strong enough to suggest the economy is going from strength to strength.  House price figures overnight showed an increase, and the NIESR, who produce unofficial UK GDP data, suggest the UK economy grew by 0.7% which although hardly sets the world on fire, still suggests the UK is heading in the right direction.

However behind the headline figure there are still areas of concern that have been enough to cause sterling to falter.  UK Manufacturing figures showed just a 0.1% increase with a big slow down in August in the auto sector, and there are still a lot of signs that the UK economy needs rebalancing.  Indeed, the reason Moodys downgraded the UK’s AAA status was sluggish growth forecasts and no sign the government will meet its own deficit reduction targets.  With an election next year there is bound to be some uncertainty over the economic plans for the UK.

One to watch tonight will be Aussie jobs data and the US FOMC minutes, with the former having the potential to cause big swings due to a smaller population, and the later likely to have an impact on global monetary policy and currency values in general.

With all this in mind I feel current GBP USD and GBP EUR rates represent very good value, and have partly relied on previous Dollar and Euro weakness rather than just sterling strength.  It may well be worth considering buying your currency now, or forward booking your exchange rate.  If you need to make a currency transfer, and want to get the best exchange rate, then feel free to email Colm at cmg@currencies.co.uk and I would be happy to explain how our services work.

Sterling rates are looking very tempting now….

As we get closer to the general election in 2015 the pound will become vulnerable, just look at what the uncertainty surrounding Scotland did to the pound. If you are buying an overseas property or planning business forecasts in 2015, this will pass very quickly.

Very importantly for October Business confidence and spending generally is likely to have dipped in September so the releases this month which have already shown losses for the pound are likely to continue and underlines why current levels should not be ignored.

If you are considering buying or selling the pound in the future making some careful preparations is always sensible. Contact me directly on jmw@currencies.co.uk

 

Pound Sterling Forecast – The week ahead (Daniel Wright)

This week seems much busier than in terms of economic  data with the following due out that may have an effect on exchange rates:

Overnight we have the RBA (Reserve Bank of Australia) Interest rate decision and although no major changes are expected regarding interest rates speculators and investors alike will still be focused on any comments in the RBA rate statement which may give us some insight on future economic policy over in Australia and may lead to a volatile Australian Dollar overnight.

Tomorrow morning brings Swiss inflation data at 08:15am with expectations for CPI to be at 0% this does bring in a slight risk of deflation which may then lead to the SNB having to step in and combat inflation issues a little further down the line much like the European Central bank have had to recently. This may be negative for the Swiss Franc.

Later on tomorrow morning at 09:30am we have industrial and manufacturing production figures for the U.K which can always be a good market mover. Expectations are for a slight improvement in these figures so we may have a positive morning for the Pound as long as  long as figures are released in line with analysts predictions.

Wednesday is a little quieter however later on Wednesday evening we have the FOMC minutes from their last interest rate decision over in America and with U.S data having an effect on global attitude to risk all major currencies may be in for a volatile evening. I would be surprised not to hear some sort of indication on the interest rate hikes and when they now may happen so be sure to keep an eye on exchange rates at around 18:00pm Wednesday evening.

Late night Wednesday/Early morning Thursday we have a flurry of employment data from Australia and expectations are for fairly poor figures to be released, all in all this could round off what may be a potentially poor week for the Australian Dollar.

At midday on Thursday we have the Bank of England interest rate decision and although it would be a great surprise to see an interest rate hike in the U.K it only takes another two members of the Bank of England to decide in favour of a rate hike and we may see a surprise rate hike. A rise in interest rates is genreally seen as positive for a currency and a cut negative so if this were to happen you could expect a boost in the value of the Pound. Personally, I would be surprised to see a rate hike but you can never rule it out.

If we do not see one then the Bank of England minutes from this meeting will be released in roughly two weeks time and they will no doubt attract quite a bit of attention to see how voting went.

Later in the day Mario Draghi speaks at 16:00pm and we may see further news on he plans to attack deflation in the coming months so expect Euro volatility during Draghi’s comments.

Friday is not too busy to round off the week, the two key releases will be trade balance figures for the U.K at 09:30am where we expect to see a small improvement and later on in the afternoon we have Canadian employment figures with little change expected.

All in all I expect a busy week  and hope to have plenty to write about as the week goes on. If you have a currency exchange requirement either soon or in the future and you want to make sure you not only get an award winning rate of exchange but also customer service to match then feel free to contact me (Daniel Wright) the creator of this site personally.

You can email me with a brief explanation of what you are looking to do and a contact number and I will be more than happy to give you a call.

I am contactable on djw@currencies.co.uk and I look forward to speaking with you.

 

 

USD at year highs against the pound following strong employment numbers (Mike Vaughan)

Sterling has fallen to its lowest level against the greenback following strong non-farm payroll figures this afternoon. This has now taken the dollars rally to over 12 cents since the high of 1.72 in July. For me this run could continue should the FED end its tapering of QE this month (as expected) and the focus will then shift towards when the FED may raise interest rates. Should the market begin to price in an interest rate hike then I can see GBP/USD testing 1.55 and below.

Looking at the single currency and since the 1st January the overriding trend has been in the pounds favour. On January the 1st levels sat at 1.2045 peaking at 1.28 last week (a 5.9% shift and fresh two year high). Average trade levels sit at approximately 1.2450 so with current levels sitting at 1.2750 Euro buyers are ahead of the game. If I was buying Euros I would view the current levels as an opportunity.

Finally looking at the Australian dollar and recently the GBP/AUD pairing has seen one of the biggest swings with the pound having rallied 12 cents since the 8th September. Current levels are now very much more in line with January’s price of 1.86. It peaked at 1.90 late January before slumping to the year low of 1.72 earlier this month (10.5% high/low range). Yearly averages sit roughly at 1.81 so again current prices are still looking good for AUD buyers.

As you can see the pound is currently seeing some good value against a number of currencies sitting at a near 6 month high against the AUD and over a two year high against the Euro. To take advantage or get more information on the currency service we provide then please call the office on 01494 787478 or email Mike mgv@currencies.co.uk

Exchange rate super saver – Last day of the month/quarter and we are feeling generous so contact us today! (Daniel Wright)

Having helped thousands of new clients that have contacted me through this site I thought I may put an offer out there for anyone that has not already got in touch yet reads our updates on a regular basis.

If this relates to you  then I welcome you to contact me directly with how much you are looking to exchange, what rate you have been offered and your contact number and I am confident I will be able to beat anything with our one day currency sale.

Any small improvement on an exchange rate can make your currency much cheaper to buy so this really is a great opportunity if you know you have a pending currency transfer to make.

Please note we do not deal in cash/ travel money.

All you need to do is email me (Daniel Wright) the editor and owner of this site on djw@currencies.co.uk with your details and I will get in touch personally.

We now have almost 60,000 regular readers each month and we would like to thank all of you for supporting our site over the years.

 

Sterling on the up, will the trend continue? (Mike Vaughan)

This afternoon the pound rallied against a host of currencies following a speech from Bank of England governor Mark Carney indicating that households should be prepared for higher borrowing costs as he suggested the point at which the bank will consider raising rates is getting closer. As a result the pound has surged to fresh highs during a week that has been relatively quiet data wise.

Due to it being relatively quiet I thought I would be an opportune time to highlight the movements we have seen for sterling throughout the course of this year. This will give you an insight as to current market trends and may influence your decision regarding your own individual money transfer.

Sterling against the green back (US dollar) has seen a high/low this year ranging from 1.7160-1.6094 a 6.6% shift (majority of this having been seen in the past three weeks). The year average sits in the region of 1.65 so the current buy levels of 1.64 is about par for the course this year.

Looking at the single currency and since the 1st January the overriding trend has been in the pounds favour. On January the 1st levels sat at 1.2045 peaking at 1.28 last week (a 5.9% shift and fresh two year high). Average trade levels sit at approximately 1.2450 so with current levels sitting at 1.2750 Euro buyers are ahead of the game. If I was buying Euros I would view the current levels as an opportunity.

Finally looking at the Australian dollar and recently the GBP/AUD pairing has seen one of the biggest swings with the pound having rallied 12 cents since the 8th September. Current levels are now very much more in line with January’s price of 1.86. It peaked at 1.90 late January before slumping to the year low of 1.72 earlier this month (10.5% high/low range). Yearly averages sit roughly at 1.81 so again current prices are looking good for AUD buyers.

As you can see the pound is currently seeing some good value against a number of currencies sitting at a near 6 month high against the AUD and over a two year high against the Euro. To take advantage or get more information on the currency service we provide then please call the office on 01494 787478 or email Mike mgv@currencies.co.uk

Will sterling continue to rise

The pound remains at elevated levels and it would appear it shall continue to do so. Expectations of Quantitative Easing in the Eurozone next month are keeping the Euro weak and following the dollar’s recent surge investor appetite for favourite the safe haven looks set to remain cooled for the time being.

The pound was looking in serious danger on the back of a possible Yes vote in the referendum but these fears have now cooled with the No vote. There are however significant reasons for concern for GBP weakness down the line with the UK election and the possibility of the EU referendum to follow. These topics could make the Scottish referendum look like a Parish Councillors meeting by comparison…

All in all the news is generally very positive for the pound at present but further gains in the absence of something ‘new’ to impress investors look limited. If you need to buy a foreign currency with sterling capitalising on these extremely impressive levels might be the best course of action. To be notified of any impressive spikes please contact me Jonathan on jmw@currencies.co.uk

 

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