Category Archives: USD
After an excellent rally for the last week the pound is finally hitting resistance at these higher levels. GBP EUR peaked just above 1.32 and is now sitting 1 cent lower whilst GBP USD is struggling to break 1.47. We should be coming to the end of the Remain campaign’s announcements as rules have now kicked in which prevent the government from issuing any further big publications to support their cause. The markets have now started to price in a greater chance that Britain will remain in the EU as a result of recent polls and bizarrely; looking at the odds at the bookmakers – The bookies don’t always get it right though!
As these new developments have now been priced in to the market then it means that any new developments from the Leave campaign are yet to be felt in the price of the pound. As such there is considerable more risk that the pound will see falls in the coming weeks in the run up to 23rd June. For anyone selling Euros or any other currency then my view is that there should realistically be some better opportunities approaching. The question is whether clients in this situation will be able to hold their nerve with almost another full month to go in what I feel could be one of the most volatile periods the pound will ever see.
When the Swiss National Bank removed it’s Swiss Franc peg it held with the Euro at the beginning of last year it created market movements by as much as 40% in a single day! Considering the scale of what this referendum actually means in Britain and Europe then exchange rates are open to extreme volatility. Anyone with a currency requirement would be wise to look at protecting themselves against the uncertainty by securing funds or part of funds well in advance of the referendum date.
Data after the Bank Holiday weekend includes Purchasing Managers Index data for the construction, manufacturing and services sectors as well as house price numbers. Sterling exchange rates are however more likely to be driven by referendum politics. European data is much more plentiful with inflation numbers and the European Central Bank meeting on Thursday which is likely to cause a stir.
If you have an upcoming GBP or EUR currency requirement either buying or selling and would like to be kept up to date with key market movements, or simply wish to compare our award winning exchange rates then please feel free to contact me on 0044 1494 787 478 and ask one of the team for James. Alternatively you can email me directly at email@example.com
Yesterday The pound gained strength against the majority of major currencies. This was due to impressive retail sales data, positive inflation figures and the remain camp gaining significant momentum in the polls for the EU referendum. GBP/EUR hit a twelve week high at 1.32. GBP/USD 1.47 and GBP/AUD 2.05.
A Daily Telegraph poll show that 55% of the UK population wish to stay, 42% wish to leave with the remainder undecided. What was surprising however was that the remain camp had support from the majority of over 65s. Their findings also revealed that those in the undecided camp were twice as likely to vote to remain in the EU than to leave.
The Institute of Fiscal studies also announced that if the UK were to leave the EU the UK would face an extra two years of austerity. GDP would decline and there would be additional borrowing costs which would result in losses of £20-40bn.
The polls will be a key factor as to Sterling market position up until the day of the vote 23rd June. It is important to note that Sterling crashed a few days before the Scottish referendum and the general election.
We have seen a slight decline today for Sterling against most currencies due to poor GDP figures which has been caused by businesses unwilling to trade due to the uncertainty created by a possible Brexit. GBP/CAD fell more significantly due to the increase in oil price.
If you have a currency requirement I would be happy to assist. I work for one of the top brokerages in the country and by doing so I can beat any competitors rate of exchange. I am willing to provide a free trading strategy to try and maximise your return. Fell free to drop me an e-mail at firstname.lastname@example.org. Simply let me know the currency you are trading, time scale and a ball park figure as to the size of the trade. Thank you for reading my blog.
The Pound’s recent rise came to an abrupt end this morning, following the release of the latest UK Gross Domestic Product (GDP) figures. The official reading came out at 2%, which was under market expectation and the Pound immediately lost value as a result.
GBP/EUR dropped back to 1.3131 at today’s low and despite the recent improvement, I still feel the Pound remains in a fragile state. The markets seem to be moving off rumour as much as fact and with the upcoming referendum likely to cause further uncertainty, it is very difficult to predict exactly how things will unfold. Sterling did receive a boost earlier this week following the release of the latest EU poll, which indicated the Remain camp had a healthier lead than many thought.
I did anticipate a move up to the current levels ahead of next month’s referendum and despite the rise I still feel the polls we are seeing are likely to be fabricated. There will certainly be further developments on both sides before the final votes are cast on June 23rd and for this reason I wouldn’t be gambling on another major spike for GBP. It may be that following this morning’s poor data that Sterling has hit its glass ceiling.
We also need to consider the Bank of England’s (BoE) position, which has been to continually talk down facets of our economy, which has diluted investor confidence. They are keen to control Sterling’s value in the hope this will boost exports and ultimately narrow our ever growing trade deficit.
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 on 0044 1494 787 478 and ask one of my team for Matt. Alternatively, I can be emailed directly on email@example.com
GBP/EUR and GBP/USD have seen their second consecutive day of serious gains on the currency markets, putting smiles on the faces of Dollar and Euro buyers who were biting their nails looking at rates only a few weeks ago.
The change over the past week is that gains on the markets are sticking. Short-term bumps upward had characterised the market place given the jumpy nature of investors in the run-up to the Referendum vote.
But the two-week period of almost total stability (for example when GBP/EUR barely changed between the 1.26-7 at the beginning of the month) has given greater confidence to the market-place. Normal trading patterns have re-emerged with traders at high street banks (the ones who move the volumes large enough to effect currency exchange rates) which has given the Pound a bit more life.
To summarise, relative stability has allowed investors to stay on the ship longer rather than bailing too early as the exchange rates in April proved many were prone to do.
The polls for the Referendum are still largely uncertain. The remain camp has been boosted (another factor in the increased stability), but the variation in polling results is still staggering.
Even individual polling companies are seeing stark difference simply on how polls are conducted. Ipsos-Novi found that on their recent telephone poll the remain camp were 8 points yet on their online poll the leave camp were up by 4!
Their is still quite a lot to play for, and when factoring in voter turnout rates anyone buying foreign currency using Sterling still be wary of this unprecendented period of volatility we are about to enter into when June and the heavy campaign season comes around.
As early as tomorrow morning the economic arguement is also set to eat into the recent gains made for buying Euro and Dollar rates.
Growth figures for the UK economy are to be released before lunch, and after April’s showing where the EU actually outpaced the UK, it is likely that we’ll see a similar drop in the Pound’s value. With no other releases before the start of the next month on Wednesday, this should continue to be the dominant narrative for GBP/EUR, GBP/USD, and GBP/AUD exchange rates.
I strongly recommend that anyone with a foreign currency requirement should contact me on firstname.lastname@example.org. I have never had an issue beating the rates of exchange offered elsewhere and a brief conversation could save you thousands on your transfer.
If you detail your requirements, whether immediate or over the next few months, as well as the best number to reach you on, I can contact you before UK markets open in the morning to discuss your options in using a currency exchange brokerage and offer a live quote for any of the options which peak your interest, and comply with your risk appetite.
01494 787 478 – Joshua Privett
We have had a fairly quiet start to the week so far for Sterling exchange rates, however we may see things liven up as the week continues to progress.
It is important to remember that any news on the referendum may impact the value of the Pound rapidly and out of the blue, so if you have an exchange to carry out in the near future then it is key to have a proactive and sharp currency broker on your side for it.
Here at Pound Sterling Forecast we aim to give you the very best in market information to ensure you make the right decision to suit your needs.
Tomorrow we have Public Sector Net Borrowing figures due out at 09:30am and expectations are for the figure to increase which would suggest that the Government has slightly more ‘new debt’ than last month if predictions are correct. I actually feel that we may see a slightly more positive figure with the referendum in mind so Sterling may have a good day tomorrow.
We have nothing of great note on Wednesday and then will see growth figures on Thursday morning be the next piece of economic data that we are expecting to have an impact. 0.4% is the figure that analysts are expecting to see for economic growth and any deviation from this may lead to a volatile trading morning.
If you have the need to buy or indeed sell Sterling for your business, due to a property purchase/sale or for any other reason then it is important to have a proactive broker on your side and one that can get you the very top levels of exchange – It is very easy to settle for second best in this market but it is key to realise that even the slightest improvement in a rate of exchange can save you a huge sum of money.
If you would like to have a brief discussion with me (Daniel Wright) as to how I will be able to assist you with any pending currency exchange then feel free to email me directly on email@example.com and I will be more than happy to get in touch with you personally. We can cater for people inside our outside of the U.K and carry out bank to bank transfers.
Sterling had a very productive mid-week session on international currency trading, most notably with Euro buying rates reaching above 1.30 for the first time since February.
Two consecutive days of positive economic sentiment were the driving force for this breath of fresh air for the Pound, which had been in a period of relative stability preceding the previous week. Again this was seen most evidently on GBP/EUR exchange rates, where average changes since the beginning of the year of 1.5 Cents daily gave way to almost two consecutive weeks of buying Euro rates trading within 1.26-1.27.
Certainly this was a relief at our office to see some stability given back to the market place, but we empathize with the multitude at that time who were faced with a difficult decision – where are the rates going to go from here?
This was partially answered mid-week by the gifted movements for anyone holding Sterling and who are considering purchasing a foreign currency. Positive retail sales, wage and employment figures produced a brighter view towards the UK economy and the Pound, a surprising phenomenon this close to the Referendum.
Yet the overwhelming consensus on the marketplace is that this is not the beginning of a new trend. Most of the positive data has been attributed to an un-seasonally hot April (albeit patchy) which allowed industries normally dormant until late May or June to wake early and start contributing to UK performance. This explains why a sudden rise in retail sales coincided with a rise in employment.
This positive narrative on the Pound is set to change next week, when markets are reminded of the stagnant growth figures currently being posted by the UK economy.
Last month was the first time in nearly three years that UK growth was outperformed by the Eurozone, growing 0.4% in the first three months of 2016 compared to that of the Eurozone who enjoyed 0.6% according to the Office of National Statistics. Another look at these figures from an independent body is set to confirm this on Tuesday and Thursday for the UK and Eurozone respectively.
Growth is key. Growth shows an investment is worthwhile, and without this vote of confidence the slide on buying Euro and Dollar rates which occurred on Friday after the two big days on Wednesday and Thursday are set to continue.
No-one thought that buying rates would see this resurgence ahead of the Referendum, particularly whilst vote splits are still close enough to be counted as in the margin of error. There was a net gain of 2 cents on GBP/EUR last week, 1.3 cents on GBP/USD, and 4.5 cents on GBP/AUD, which should not be sniffed at in this current market.
I strongly recommend that anyone with a buying Euro or Dollar requirements should contact me on firstname.lastname@example.org.
If you outline your requirement and the time span within which you plan to, or need to, conduct this, then we can begin a discussion to determine the most suitable option open to you through a currency exchange specialist which suits you with a view to maximizing your currency return.
I have never had an issue beating the rates of exchange offered elsewhere, and a brief conversation could save you thousands on your transfer.
Euro and Dollar sellers can also get in contact to have a similar discussion, though my thoughts will sway towards waiting for the news next week to re-coup the losses incurred to you over the last week of trading. Certainly, with the near two cent losses on Friday’s trading for GBP/EUR in particular, the momentum is in your favour.
Sterling vs the Euro hit a 3 month high this week and the best level to buy Euros since mid February after a recent opinion poll put the Remain camp in the lead in the EU referendum vote.
With just 5 weeks to go before the UK goes to the polls we could see some big swings on Sterling Euro and Sterling vs Dollar exchange rates owing to the uncertain period ahead.
I personally think the UK will remain in the European Union owing to the various individuals and institutions that are backing the decision.
The UK government, Bank of England, European Union and International Monetary Fund have all spoken out in favour of staying in the EU and with such strong backing it is difficult to see how this won’t happen.
However, as the vote is ultimately decided by the British public it is impossible to know for sure and this is why I think we’ll see lots of volatility for Sterling exchange rates in the weeks to come.
This week we saw a bit of a positive shift in recent economic data which has been rather mixed recently. UK Retail Sales revealed a jump year on year to 4.3% from the expectation of 2.5% and this provides evidence that maybe the UK economy is recovering much quickly that previously estimated.
However, earlier this month we saw both UK manufacturing and industrial production data come out at 3 year lows so it is not all good news for the UK at the moment.
When Sterling Euro rates hit resistance levels of 1.30 the opportunity does not often last for too long as demonstrated again this week and it will take something special to see Sterling break through and push past this level.
Tuesday could be the biggest day for currency movement next week when the Eurogroup meet. The main topic on the agenda will be Greece which is due to make its next repayment in the next few weeks.
The International Monetary Fund has suggested that Greece be given until 2040 to start making repayments but this is unlikely to go down too well with the various European finance ministers that will be attending the meeting.
In fighting during the meeting could cause Euro weakness and this may be the chance for GBPEUR rates to hit 1.30 again.
However, further Brexit talks could negate any gains if we see a fightback from the Leave campaign.
If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian email@example.com
Sterling exchange rates cool off after a very bullish week, will this trend continue? (Joseph Wright)
After the week we’ve just had I’m expecting next week’s trading session to be very interesting for Sterling exchange rates, and hopefully by this time next week we’ll have more clarity as to which direction the Pound is moving.
In the meantime I believe those looking to sell GBP in order to purchase other major currencies such as US Dollars, Euro’s or Australian Dollars for example, have been presented with some surprisingly good entry levels, especially when we consider that the EU Referendum is just around the corner and that event is what’s been weighing on Sterling’s value for most of this year.
This week Sterling hit it’s strongest level against the Euro for 3 months, and this was mostly due to the UK bookies now claiming that there is a 70% likelihood of the UK remaining within the Eurozone.
This news has been well received by the marketplace as historically speaking, political uncertainty weighs on the value of the underlying currency, therefore the bookies and polls suggesting that the UK public has already made its decision has resulted in a strong Pound as investors and speculators become less tentative when buying Pounds (or buying financial asset’s denominated in Pounds).
Today, Sterling has weakening across the board as many would have expected. Having gained so much ground on it’s peer’s this week I felt that it was inevitable that Sterling exchange rates would cool off today, particularly this afternoon, as day traders and speculators alike take their profits which would then drive down the value of Sterling somewhat.
Next week I’m expecting Sterling to continue to ease off as I struggle to justify the likes of GBPEUR trading above 1.30 with such a historic vote around the corner, and I think anyone with a currency requirement involving selling Pounds should consider making that transfer sooner as opposed to later.
If you would like to discuss an upcoming currency exchange you have to make, feel free to contact me on 01494 787478, just ask reception for Joseph. I work for one of the UK’s longest standing specialist currency brokers. We can save clients thousands when compared with the high street banks and also offer a lot more than just award winning exchange rates and high levels of security. Next week see’s the release of some key data which could swing exchange rates so we can also discuss how these events could effect your exchange if you like. You can also contact me by email on firstname.lastname@example.org
The Pound has now broken through several benchmarks on most major currencies, with buying Euro rates breaching 1.30, and GBP/AUD now well above 2.0 for the first time since February.
The Pound’s recovery has caught the eye of many potential buyers. GBP/EUR was almost 9 cents lower only a month ago, GBP/USD has now established itself north of 1.45, and GBP/AUD has gained near on 20 cents in a single month.
A combination of political and economic factors are the root cause for this sudden turnaround.
Economically speaking the UK has had a fantastic few days with all of the good news of the month seeming to come out within a relatively short period. Wages, unemployment, and most recently this morning retail sales figures have seen positive news eclipse some of the UK’s questionable growth data released at the start of the month.
Furthermore, some confident strides ahead for the remain camp have made some investors a little more confident about the outcome of the looming Referendum. But the mistakes in the polls during the May election haven’t been forgotten, and with the traditional margin of error being plus or minus 3%, there’s still not enough conviction for Sterling to breach much higher for the moment, which explains why the Pound’s rally tailed off this afternoon.
With no economic news of note out tomorrow and no releases on the polls until next week, this very gradual negative loss on buying rates for anyone holding Sterling will likely continue as profit taking after the big movements this week governs changes in buying rates for Euros and Dollars.
Unless the Remain camp gains a hefty lead the Pound is likely to be coming under further pressure as we edge closer to the vote itself. With debates and speeches lined up for the beginning of the month, it’s fair to say that the heavy campaign season hasn’t even begun. Anyone waiting to buy foreign currency, particularly after the opportunities gifted to many buyers over the last 7 trading days, has to have a very strong economic argument if they are expecting many further gains on the marketplace in the short-term.
I strongly recommend that anyone with a Euro or Dollar buying requirement between now and Referendum should contact me on email@example.com to start a dialogue around a strategy for your transfer in order to maximise your foreign currency return.
I have never had an issue beating the rates of exchange offered elsewhere, and a brief discussion could save you thousands on your transfer. These current levels available today can also be fixed in place for any planned transfers in the future to completely avoid the risk of waiting for the exchange rates available to you later in the year when you wish to conduct your transfer.
Anyone considering buying Sterling with a foreign currency can also do the same, and I will explain how best to approach the coming weeks to ride the expected movements in your favour to their completion.