Category Archives: Economic data
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 email@example.com 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 firstname.lastname@example.org or call me directly on 01494 787 478 during U.K office hours, please ask for Daniel Wright.
After a busy week last week for Sterling this week seems as though it is going to be a lot quieter. Last week we saw UK Gross Domestic Product (GDP) figures come out at 0.3%, meaning that the UK avoided going in to another recession and providing a spike for Sterling against most major currencies. There is not a lot of data out for the UK this week, manufacturing data came out better than expected this morning and we saw a small spike for the pound but apart from this there doesn’t seem to be much going on in the UK.
In my opinion there are two data releases this week that have the potential to rock the markets. First up is the European Central Bank (ECB) Interest Rate Decision which will be released at 12:45pm tomorrow afternoon. There is a lot of speculation at present that the ECB are going to cut interest rates to improve their declining inflation. Inflation figures for the Eurozone were released yesterday showing a 0.5% decline. Generally an interest rate cut will increase public spending, in turn boosting growth and inflation. If the ECB chooses to cut their rates then I can see a strong bout of euro weakness against most major currencies, however with so much uncertainty still surrounding the Eurozone I can’t see this holding for very long.
I think that the other major data release this week could be US Non-farm payroll data out at 1:30pm on Friday. This always has the potential to change month by month and has a reputation for moving the markets significantly after its release. It is expected that the figure will be announced at 150,000 but anything other than the expected could cause some significant USD volatility.
We have a number of different contract options available that can help you make the most of spikes in the market, whether they are moving for or against you. If you would like to speak with one of our professional, friendly currency brokers then please contact me direct at email@example.com
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 firstname.lastname@example.org 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, email@example.com 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
firstname.lastname@example.org 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 email@example.com 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!
How will tomorrow pan out? Email me your prediction firstname.lastname@example.org
Sterling is finding better support against most currencies as a positive GDP figure is expected on Thursday. This is of course good news or bad news depending on what you need to do! A positive figure will not in my opinion be enough for sterling to shake the blues but, it may be enough to provide anyone hanging on for dear life with a little sweetener in their price!
The pound has been suffering this year and it is likely this pressure will remain. Economically the UK is in a mess! What has improved lately is the economic conditions in the US which will help UK businesses. Europe on the other hand is on the cusp of worse troubles and with less orders for UK businesses as a result, sustained economic growth from business in the months and years ahead will be difficult. You have been warned!
I suggest therefore if you are considering moving on a currency transaction you pay particular attention to what happens this Thursday. Earlier in the year I wrote about the three key issues to beware of on the pound this year. You can read the post here. The three issues were the EU referendum, the triple A rating and the triple dip recession. Two of those topics have come true, in two days time we will find the answer to the third. The pound is absolutely on the edge!
Expectations are swaying daily but the general consensus seems to be we have narrowly avoided the dip. Such data is notoriously difficult to predict and as such I expect the pound to be very volatile in the coming 48 hours. Do not mistake the UK avoiding the triple dip for proof of a return to the rates we saw last year or earlier this year. The outlook remains negative and this is why I feel anyone selling sterling for another currency should really take stock now!
If you have an exchange to consider in the next couple of weeks Thursday’s data is very much worth being aware of. Our proactive personal service aims to ensure our clients get the best information relevant to their requirements. We are currency specialists with many years experience assisting and guiding both private and corporate clients through their transfers. We offer an unbeatable rate of exchange and it is very rare any of us would be beaten on price by another company or the banks.
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My email address is email@example.com. uk and I look forward to hearing from you!
Thursday should be a key fixture in the diary of anyone with an upcoming currency requirement, as this is when the latest set of Gross Domestic Product (GDP) figures will be released. These will determine whether the UK economy has fallen back into official recession and whilst these figures could well be revised in the coming months, the initial market reaction will most likely mirror the result.
Personally I cannot see GBP gaining much momentum even if we do avoid recession, although there will be an element of market confidence returning to the Pound and it should stabilize. If we do in fact find ourselves back in a recession then the Pound will struggle to make any serious inroads against the major currencies and provided the Eurozone doesn’t throw up any nasty surprises (something which sounds unlikely given the recent history), then we are likely to see Sterling move back towards 1.14.
The EUR has tried to strengthen recently amid this on-going negativity but is constantly hampered by its own economic problems, which are prevalent and deep rooted throughout the Eurozone economy. It is almost a guarantee that we will hear of further unrest, whether it be in Cyprus or one of the larger nations such as Spain, France or Italy (just take note of the on-going political debacle and lack of a cohesive government). All of these nations have the ability to spark a further financial crisis should their economies collapse and unfortunately at times the Eurozone seems as if it is held together by nothing more than empty promises and increasingly harsh austerity measures.
GBP/USD rates have levelled out slightly recently although the USD continues to hold firm against the Pound, despite a small fight back from GBP recently. Despite the recent worse than expected non farms payroll data, the US economy does seem to be moving in the right direction and it is likely that we will see continued USD strength throughout Q2 of this year. I feel GBP will struggle to break back through 1.55 anytime soon, although a move back under 1.50 is now unlikely based on historical data.
The NZD continues to look strong against GBP with rates hovering around 1.80 for some time now. Many clients looking to purchase NZD will more than likely have been holding out for a move back towards 1.90, or maybe even 2 but personally I feel even 1.90 may be an unrealistic target, especially in the short to medium-term.
With the UK on the verge of a further recession and the NZD buoyed by a strong AUD and strong exports, it is likely we will see GBP/NZD range bound between 1.78-1.85 over the coming weeks.
Here at Foreign Currency Direct plc we are able to provide our clients not only with award winning rates of exchange but a bespoke service designed to give you the client, as much insight into the markets as possible. If you would like to find out the type of rates or contracts we offer, or need to be kept up to date with all the latest market movements then please call us on 0044 1494 787 478 or email me directly at firstname.lastname@example.org.
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 email@example.com
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 firstname.lastname@example.org
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 email@example.com for more information at no cost or obligation.
I look forward to hearing from you and personally assisting you, thank you