Category Archives: CAD
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.
What will happen next week on sterling exchange rates?
An excellent run of form for sterling has seen us hit a 15 week high against the euro and 11 week highs against the US dollar, Australian dollar and Canadian dollar. Is this going to get much better or has this rally run out of steam?
I think that this rally has run out of steam but that does not mean rates are going to just crash back down. Sterling has been given a boost by the improved GDP stats (0.3% growth for Q1) which removes some of the more immediate concerns regarding sterling. In order for the pound to press on we need to see more positive data and next Thursday could be a trigger with Industrial and Manufacturing data plus the NIESR (National Institute of Economic & Social Research) estimate of GDP for April.
If you are considering moving sterling in the next few weeks next week could be fairly pivotal in shaping the future direction for sterling. It is important not just for sterling but due to the releases affecting other currencies. Here is a quick run through of a couple of things to beware of on rates next week.
EURO – Mario Draghi and the ECB (European Central Bank) are giving a couple of speeches next week including the ECB Monthly Report. There was a story today that the ECB were playing down speculation yesterday rates may be cut further. If any such bold statements are made I expect the Euro to strengthen, but not by much.. The Euro is in the firing line right now. If you are considering any GBPEUR or EURGBP transfers in the future please feel free to contact me for a forecast specific to your requirements. jmw@currencies.co.uk
USD – An improved employment outlook for the US today helped the USD to strengthen against sterling but unless the pound comes under pressure I expect GBPUSD to push higher. A speech next Friday by Chairman of the Federal Reserve Bank in the US, Ben Bernanke could be crucial.
AUSTRALIAN – The Reserve Bank of Australia meet for their monthly meeting next Monday evening where they decide on economic policy. The statement after their meeting may be more indicative of policy as no change is expected. Next week we also have Australian employment data which could move rates. On the whole I expect rates to remain good for buyers, sellers of AUD to buy GBP may wish to move sooner if they don’t see improvements.
Our service is designed to save people money on their currency exchanges. This is not just through offering better rates than the banks and other currency brokers, but by assisting with the actual timing of your exchange. Even if your transfer is just a one off we can help guide you through the process of moving money internationally at the very best rates.
Even if your transfer is not required for some time we can forward book rates for a small deposit. For more information on the services and to make a comparison or register an alert for certain trading levels, please contact me Jonathan directly on jmw@currencies.co.uk
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Sterling at a three month high against the Euro, Aussie and US dollar (Mike Vaughan)
As expected the European Central Bank cut its base rate to a record low of 0.5% from 0.75% earlier today pushing GBP/EUR close to 1.19 for the first time in nearly three months, as Mario Dragji (head of the ECB) indicated he would consider cutting rates further and could not rule out negative interest rates. The move for sterling has been a welcome relief for many and showing little sign of slowing, in fact the pound has now gained 4.3% against the single currency since its low in mid March and a very similar trend has been experienced against a number of major currencies.
Moves against the greenback and Aussie have been even more substantial seeing a shift of 4.5% since mid March against the US dollar and 5.2% against the Australian Dollar in the last month. This makes a significant difference on your money exchange and may represent a strong buy opportunity for some, however I guess the question for many is will this last?
For me I believe this could be the start of a correction for the pound, certainly against the Euro and Australian Dollar but I feel the US dollar is less clear and will remain range bound between 1.53-1.55. Those buying Euros and AUD may get more from the market and I would look for levels to head towards 1.20 for GBP/EUR and possibly 1.55 for GBP/AUD. AUD buyers should watch out for the next RBA meeting (Reserve Bank of Australia) scheduled for Tuesday next week, should the RBA Australia cut interest rates (as some analysts are predicting) we could see a further shift for GBP/AUD, I feel the RBA may also be considering further rate cuts later this year and would expect to see more value for AUD buyers in the coming weeks, particularly should China show further signs of an economic slowdown.
For those looking to buy the US dollar I would certainly consider 1.55 to be viewed as good value and feel this has the potential to move back towards 1.50, although data of late from the US has been weaker than many expected which has pushed cable close to 1.56. Tomorrow watch out of US non-farm payroll figures that are expected to show a strong increase from last month, something again that could lend support to the dollar in tomorrows afternoon session. Much of the dollars moves will come down to perceived appetite for risk and I think with the market still so jittery losses for the dollar will slow and would expect levels to shift back in the dollars favour, I would expect US dollar sellers to get more value in the coming weeks.
Should you have an upcoming trade to arrange and you would like to discuss the market in more detail and how we can help you achieve a competitive commercial rate of exchange then please get in touch. We are here to help. Please email with your particular currency requirement and I will happily get in contact to discuss your options to help you maximise your trade. Email mgv@currencies.co.uk
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
The most important issue regarding pound sterling rates at present! How to get the best exchanges rates
The pound had been one of the worst performing currencies of 2013 until a few weeks ago when it bounced back from the very worst levels. The answer to the question of is the worst really over will be evidenced next week in the form of GDP data. Gross Domestic Product is a measure of the output or growth in the economy and is a key factor in determining the strength or weakness of sterling.
What strategy should I adopt for buying or selling the pound?
If you are selling a foreign currency to buy pounds and you are keen to take a risk it may be worth waiting until next Thursday as there is an outside chance you could see much better levels by 2 or 3 cents. If you are not keen to risk then I would tee things up a bit sooner as it is probable the pound may become more expensive. Please note if you are considering any exchanges and would like to run through your options please speak to me directly on jmw@currencies.co.uk
The consensus among commentators seems to be that the UK has avoided the triple dip recession. This would mean that it is likely the pound will strengthen next Thursday. However because this expectation is quite high, if for any reason the data is bad we could see a big fall for the pound. Markets often move ahead of the event too, so it can be argued the pound is stronger lately due to this expectation. It is also true the pound is stronger due to events in Cyprus, money has moved out of Europe and despite all the economic woes for sterling, found its way to the relative safe haven of the UK.
If you are selling pounds to buy another currency then it may be wise to see how the data comes out next Thursday. This is because the pound may strengthen by a cent or so against most currencies. It is impossible to say exactly what will happen so the best way to ensure you don’t lose out unnecessarily is to register an interest with me so I can keep an eye on the movements for you. Rates can move up to one or two cents per day and on big volumes of currency this can become very costly.
If you are weighing up whether or not to sell or buy pounds and hoping for slightly more on the rate, then the outcome of this decision next week is key. You can be made aware of all your options and run through any ideas on what you feel may happen by speaking directly with me on jmw@currencies.co.uk
The authors of site are specialist currency providers who can offer much better rates than the banks and other sources. We also offer assistance with the timing of your exchanges and providing forecasts. Ultimately no one can tell you exactly what will happen, but our expert knowledge of what drives rates and guidance on the processes involved will ensure you make an informed decision.
Please contact me Jonathan Watson personally on jmw@currencies.co.uk for more information at no cost or obligation.
I look forward to hearing from you and personally assisting you, thank you
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.
