Pound Sterling forecast – The week ahead Sterling strength or Sterling weakness?

With Christmas rapidly approaching i’m sure the last thing many of you will want on your mind is what the exchange rate is doing and how much more (or less) money your Sterling you are sending abroad/foreign currency you are bringing back is going to achieve you.

As Aidan mentioned in the last post, a well placed limit order can remove the need to keep a close eye on the markets, you can set up automatic trading levels with us where by you choose a best and worst case scenario and even if that trading level is achievable for a split second at 4am when we are not on the trading floor the system buys or sells the currency for you automatically.

Many of my business clients are currently using this handy method.

The Pound has started off ok this week with reasonably good mortgage approvals data out this morning, and personally I feel this week will be pretty positive again for the Pound against the majority of major currencies, however as always there are surprises that pop up and can alter that opinion extremely quickly.

This week is not majorly busy for the U.K data wise, however there are a few items of note, overnight we see the releaseof consumer confidence figures for the U.K, Nationwide and Halifax house price data is out tomorrow and Thursday and we have some PMI (purchasing Managers Index) data out on Friday morning, another measure of inflation.

At some point this week I beleive George Osbourne is due to discuss the economy and how we are getting on through this economic situation.

The main focus appears to be on what is going on in Europe, and who may step up for assistance next, the main favourite is portugal however there are plenty of other economies in the running – should there be many more showing cracks then one would imagine that we will see major Euro weakness accross the board.

If you are buying or selling a property abroad, have business transactions to carry out or simply need to get money overseas for any other reason and want the best exchange rates, just fill in the form on the right hand side and one of the experienced traders that write on this blog will be in touch shortly. Alternatively, if you would like assistance in finding your dream home abroad then feel free to visit www.overseaspropertysearcher.com and let one of our property experts make the hunt much easier for you.