Category Archives: CAD
Sterling exchange rates drop to start the day only to recover – Theresa May to speak tomorrow at 11:45am (Daniel Wright)
The Pound had a bad start to the week, dropping against most major currencies in the Asian market session on Sunday night.
By the time we entered the trading floor rates had started to recover a little and U.K Manufacturing data released this morning helped to push the Pound back closer to where we saw it end last week.
Sterling really is having a rough ride of things lately and we are seeing multi month and even year lows against some major currencies. The GBP/AUD rate almost hit its lowest point since 2013 on Sunday night, giving those looking to bring Australian Dollar sellers into Pounds a great opportunity to repatriate their funds.
Now that the dust has settled on an extremely busy trading day we look ahead at what to expect tomorrow.. And it certainly does not look like a quiet one.
We have a flurry of inflation data out over the course of the morning for the U.k, with inflation expected to have risen ever so slightly. This is not a great surprise with the low value of the Pound and the Bank of England to have slight concerns over this so they will be looking to avoid the rise in inflation being too sharp.
The main event of the day will be Prime Minister Theresa may speaking about all things Brexit at 11:45am. Personally I feel we will just here more of the same comments that we have had come out from recent interviews but anyone with a currency requirement involving either buying or selling the Pound should still be poised and ready for action.
Investors and speculators alike will be moving off of every word and looking for any hints on what we are to expect so the market may be extremely volatile during this period and for the rest of the day.
If you are in the position where you are buying or selling a property overseas, your business moves funds between currencies or you have a foreign currency requirement for any other reason then it is key to keep a close eye on rates in the coming days, weeks and months ahead.
We keep our clients fully up to date with market movements and also assist with large foreign exchange transfers too. I created this site over 7 years ago to help people with market information but we also welcome new clients to assist with their money transfers on top of this.
Should you be in the position where you may need our service, you are getting rates from another broker that you don’t feel are the best or you merely want to have an efficient, pro active and friendly broker on your side then feel free to contact me (Daniel Wright) directly. You can email me on firstname.lastname@example.org with a brief description of your needs and I will be more than happy to get back to you. Alternatively feel free to call our trading floor on 01494 787 478 and ask for me (Daniel Wright) anytime from 08:30am until 18:00pm GMT.
Sterling exchange rates still looking shaky as we await news on Supreme Court – On the plus side a trade deal with New Zealand may be agreed (Daniel Wright)
As most of our regular readers will be more than aware, Sterling exchange rates have had a pretty torrid time this week, with the pound dropping to its lowest point on a trade weighted basis since October.
We have seen Sterling almost drop below 1.20 on against USD, 1.13 against EUR, 1.60 against AUD, 1.70 against NZD, 1.20 against CHF and it is sat below 1.60 against the Canadian Dollar as I write this!
The uncertainty caused by comments from Prime Minister Theresa May over the weekend and during the week are still causing investors and speculators to remain shaky over the Pound, and economic data has not done anything to provide a backup like it has been over the past few weeks.
The key talking point now is just what will the Supreme Court decide to do? As previously mentioned this decision matters a huge amount not only because it will show us what the next steps will have to be for article 50 being invoked, but it will also more than likely lead to lots of MP’s having their say afterwards and every single comment has the potential to move the market considerably.
On Tuesday we also have Prime Minister Theresa May speaking about Brexit, which makes me wonder whether or not she is expecting to have a result from the Supreme Court before then, if we do then Sterling is set for an extremely busy week.
One positive for the Pound today was news that we appear to have all but agreed a trade deal with New Zealand, and it appears that this is ready to go as soon as possible after Brexit. A number of major economies are stepping forward and happy to do business with the U.K which is no great surprise to me.
More and more good news like this that comes out during this long winded process should only lead to the Pound getting stronger, we just need to get over the potential banana skin of the Supreme Court and Article 50 being invoked first.
If you are in the position where you need to carry out a large currency exchange either imminently or in the coming weeks and months then it is extremely important to have an experienced and proactive broker on your side. Most brokers out there will only try and convince you to buy or sell your currency as soon as possible but we are here to help you try and make the right decision for you.
Should you feel that I could be of assistance then I deal with both business clients and private individuals that need large currency transfers and would be more than happy to help you too. I created this site over 7 years ago and have helped thousands of clients that have contacted me save money over their bank or current broker.
All you need to do to make a simple enquiry is to email me (Daniel Wright) the creator of this site on email@example.com with a brief overview of what you need to do and I will be more than happy to contact you personally.
First and foremost a Happy New Year to all of our regular readers along with those visiting the site for the first time!
We have had a slow start to the year for Sterling exchange rates, very much like the past few weeks where the Pound has dropped off a little against most majors but there is plenty for the market to get its teeth into this week that may turn that trend around.
Tomorrow morning we have PMI Construction data for the U.K for December, and with the weather in December being considerably better than that of last year I would not be surprised to see a slight improvement year on year.
Later tomorrow evening we also have the Federal Reserve meeting minutes from their last interest rate decision. This can impact all major currencies as any comments on future interest rate changes may lead to a great deal of money moving around the world.
on Thursday morning we have Markit services PMI for the U.K in December. With the services sector being responsible for a large part of the growth figures in the U.K this can also be extremely important and expectations are for a slight drop off from the previous month, however I would not be surprised to see something a little more favourable in what may be a good week for Sterling exchange rates.
Finally on Friday we have another fairly bit data release over in the U.S in the form of Non-Farm Payroll data. Non-Farm data is the number of people in Non-agricultural employment (due to this being seasonal) and can have a huge impact on global attitude to risk.
Predictions for this data release can be way out so the market may price in one result yet the release can be quite a bit different so if you have the requirement to move any currency anywhere in the world then it is worth keeping your eye on the market at 13:30pm on Friday afternoon.
Here at Pound Sterling Forecast we do not only pride ourselves on providing regular and non-biased market information but we all work for one of the top foreign exchange brokerages in the U.K too.
If you have a currency requirement either now or in the coming months and you would like to maximise your exchange rate then we can also help with that too.
Feel free to contact me personally with brief description of what you are looking to do and I will be more than happy to get in touch with you. We deal with bank to bank exchanges ranging from smaller sums up to multi-million Pound transactions, unfortunately we cannot assist with travel money.
All you need to do is email me (Daniel Wright) on firstname.lastname@example.org and I will be more than happy to get in touch with you at the earliest possibility.
The Pound does not appear to be too jolly in the lead up the Christmas showing slight losses against most major currencies so far this week.
We have a few key economic data releases in the next few days and with slightly thinner trading levels during this time of year you can see larger swings than normal off the back of normal economic data.
For anyone that has a currently requirement coming up in the next few weeks you must be aware that leaving a position open over the festive season can be a risky strategy, especially if you are not going to be fully available to watch the markets or transfer funds should there be a big movement in your favour or against you.
Public sector net borrowing figures have been released this morning for the U.K were a little worse than expectations and we also have Consumer Confidence figures out overnight tonight and GDP (Growth) figures on Friday morning.
This is not to forget that we also have the on-going and well publicised Brexit talks and the pending Supreme Court decision on article 50 which will no doubt lead to a large market movement. Expectations on the result of this decision are for early in January but as 2017 has shown us surprises can pop up and things do get leaked so do not be surprised if the market starts to move on rumours well in advance of this coming out.
All in all this year has been fairly jam packed with big political and Economic information which we hope we have kept you fully up to date with. If you carry out currency exchanges through your bank or a broker at present and you find our market information useful then why not give us a try. We do not only pride ourselves on providing up to date and non-biased market information but we also offer fantastic rates of exchange and a high level of customer service at the brokerage we work for too.
Pound Sterling Forecast has been running for 7 years and the brokerage we work for has been running for 17 years so we have a wealth of experience in assisting clients with currency exchanges so will be more than happy to help.
Feel free to contact me (Daniel Wright) directly on email@example.com with a brief description of what you are looking to do and I will be more than happy to contact you personally.
So another referendum is due to happen this weekend, this time over in Italy. Unlike the recent one in the U.K this is not a vote to leave the EU but a vote on constitutional reform.
This is extremely key as it may result in another heavy bout of uncertainty for Italy should the vote got the wrong way for Prime Minister Matteo Renzi, who has already warned that should the vote go against him and stop him from making certain changes that he feels he need to make then he would be looking to step down.
We already have various economic issues for Italy, most notably the banks who appear to be struggling and walking a bit of a tightrope, so should we then see huge political uncertainty added to Italian woes then the Euro may have a bad start to next week and you may potentially see GBP/EUR exchange rates go above 1.20 again in trading early next week.
Considering exchange rates against the Euro were lingering around the 1.10 mark merely a few weeks ago, anyone looking to buy Euros must be looking at the markets with a small smirk on their face as their pending purchase has got a lot cheaper recently.
Sunday night/Monday morning will be the next point of interest for anyone with a Euro interest and with so many other large decisions pending within Europe over the next few months I firmly believe the next 12 months are going to be extremely testing for the Euro.
We cannot forget there is also an election in Austria this weekend too with the far right party holding a great chance of success, causing more issues politically within the area.
All of these referendums and elections will impact all major currencies as we will see alterations in global attitude to risk, so the perceived ‘riskier’ currencies such as the AUD, NZD and ZAR may lose strength and those that are perceived as safer havens may gain ground if results cause uncertainty.
If you have any currency to exchange, no matter where you are based then we can help you out here. Should you wish to have a friendly, proactive and experienced broker on your side then we always welcome new clients to get in touch. I have personally been assisting clients moving money overseas and bringing money back for nearly 10 years so you can be confident that your transaction will be dealt with smoothly, securely and at the best rate of exchange.
Feel free to email me (Daniel Wright) on firstname.lastname@example.org should you be in this position and I will be more than happy to contact you personally. I look forward to speaking with you.
It was another volatile day for Sterling yesterday, with the Pound spiking up to a high of 1.1956, before retracting back towards 1.18 by close of European trading.
The Pound received another welcome boost following apparent comments made by Boris Johnson, regarding the free movement of people within the UK following our upcoming Brexit. This immediately gave the Pound market support, with GBP/EUR rates spiking off the back of it. Johnson was quick to speak out against this and claimed he had in fact never made the statement and the Pound lost value as quickly as it had gained it.
There were further comments made by Brexit secretary who clarified the government’s stance to some extent, by claiming the UK would consider contributing to the EU budget in order to guarantee the best possible access for goods and services to Europe. This more official statement is likely to help support the Pound over the coming days but whether it is enough to push GBP/EUR rates back towards the 1.20 mark is unclear.
Yesterday’s rates were the best in over three months for those clients holding GBP and I’m still of the opinion that clients should be looking at these short-term improvements as a window of opportunity. I’m still not convinced that any further Sterling strength will be sustainable under current market conditions, with so much uncertainty still engulfing the UK economy. We still have no clear picture of how we will facilitate our Brexit and with the high court ruling in regards to the triggering of Article 50 still to be ratified by the Supreme Court, who knows what the state of play will be, come the start of 2017.
Sterling has gained over 4 cents in the past few weeks, which on a £100,000 GBP/EUR exchange would be the equivalent of an additional 4000 EUR and considering how fragile the UK economy remains in the eyes of investors, this could the opportunity clients have been waiting for.
For the more risk adverse this month’s Italian referendum could put additional pressure of the Eurozone economy. If the Italian public vote NO to the reforms then current Italian Prime Minister Matteo Renzi is likely to step down, which could pave the way for the far right party to gain support. This would increase the likelihood of a another referendum on Italy’s future participation in the EU and the EUR could come under pressure as a result.
If you have an upcoming GBP currency exchange to make and you are concerned by the increased market volatility of late, it may be wise to look at protecting the gains you’ve made, or limiting your losses with one of our forward contracts, rather than gamble on what has become an increasingly volatile and unpredictable market.
If you would like to be kept up to date with all the latest market movements ahead of your currency exchange, or simply wish to compare our award-winning exchange rates with your current provider, then please feel free to contact me on 0044 1494 787 478 and ask one of the team for Matt. Alternatively, I can be emailed directly on email@example.com
Over the past seven years we have had many clients contact us to see if we can assist them both with the timing of their currency exchange, but also with saving money over their bank or other currency brokerages.
All of the writers here work for one of the largest brokerages in the U.K and between us we have over 70 years experience of helping people send money overseas or bring money back for property purchases, property sales, business transactions or any other reason that involves a currency exchange.
We do not deal with holiday money or cash transactions unfortunately but we do pride ourselves on the very highest level of customer service along with seriously good rates of exchange.
Most of our traders have been doing this longer than our competitors have existed, so by contacting us here at Pound Sterling Forecast you can have the peace of mind that not only will you get a great rate, but your transaction will be handled smoothly and efficiently by a team that know exactly what they are doing.
We love providing our regular readers with up to date and important market information on this site and welcome all new enquiries with a personal response as soon as we possibly can.
Looking at the economic calendar we are fairly thin on the ground for data over the next few days as the month ends but do be wary as you can see fairly large swings for currencies as you near the end of the month as larger corporations net off positions and we start to see month end flows.
If you would like to be kept fully up to date with market movements or you would like to save money on any pending currency exchange you have then feel free to get in touch with me (Daniel Wright) personally on firstname.lastname@example.org and I will be more than happy to give you a call or reply to you email and answer any questions or queries that you may have. I look forward to speaking with you.