Test your own skill and judgement against the PSF team and win yourself £1000 Great currency guessing competition!

The Pound has had a mixed day against most major currencies, losing even further ground against the Dollar yet still holding up in the high 1.21s against the Euro.

No major data has been released today and it appears that the markets are moving very much off the back of risk appetite.

Do you fancy yourself to be able to predict what the GBP/EUR rate will be on 31st August at close of play?? Our friends at Foreign Currency Direct are running a competition which is completely free to enter and takes just a minute of your time… I have guessed 1.2297 but feel free to comment on this post and see if you can get closer than me….. If anyone gets it spot on from this site then I may offer a bonus prize as it shows the high calibre of Pound Sterling Forecast readers!

Don’t delay – have a go today and feel free to tell everyone you work with and all of your friends!!!

Chinese growth figures tonight and Inflation data for the U.K tomorrow morning are key for the next 24 hours of Sterling movements (Daniel Wright)

GBP EUR Edges Higher After Recent Rates Sell-Off

So tonight we will see the latest growth figures from China and expectations are for the worst figure they have released in quite some time. Should this be the case then we may have weakness for the Australian Dollar and NEw Zealand Dollar yet may see further strength for the Euro, making it even more expensive to buy.

There are just so many factors impacting the value of Sterling against other currencies at present including uncertainty surrounding the ‘brexit’ oil prices, China, poor economic data and little potential for interest rate hikes this year.

Tomorrow morning will be the first economic data of note for the week, we have a flurry of inflation data out for the U.K at 09:30am and this may really set the scene for the rest of the trading day as long as China hasn’t had too much of an impact prior to its release.

Bank of England Governor Mark Carney speaks at 11:00 and you can be sure that investors and speculators will be hanging off of his every word, especially if inflation happens to have thrown up any surprises earlier in the morning.

All in all we are set for a fairly volatile day for Sterling exchange rates and however hard to predict I actually feel the Pound may have a better day than we have seen of late and that we may see a chunk taken out of some of the recent losses.

Here at Pound Sterling Forecast we pride ourselves on not only providing regular and informative market data but we also can handle currency exchanges too. All authors on this site work for a brokerage assisting clients with large currency transactions day in day out and we would love to assist you too. If you are new to the site or have been following for a long time then feel free to contact me (Daniel Wright) directly and I will be more than happy to respond to you personally.

You can get in touch with me by email on [email protected] or by contact me on  01494 787 478 (0044 1494 787 478 if abroad) during our U.K trading hours (08:30am – 18:00pm).

Sterling exchange rates braced for ‘Super Thursday’ (Daniel Wright)

Once again we have had a fairly flat day for the Pound as investors and speculators brace themselves for ‘Super Thursday’ tomorrow, where we will have the release of various data from the U.K.

At 09:30am we have the first release of the day which will be the release of services data for July. With the services sector making up a large portion of U.K growth figures this data release is important.

As the morning progresses we will then have the most important period of the day for anyone looking to carry out an exchange in the coming days, weeks or indeed months. We have a flurry of data out at 12:00pm as we will see the release of the Bank of England interest rate decision, meeting minutes and quarterly inflation report.

Key importance will be how the members of the MPC (Monetary Policy Committee) voted regarding interest rate movements. Last time around we had 5 votes to 3 in favour of no interest rate movement and many think this may have now changed to 6-2, due to inflation levels dropping off a little.

Should the vote remain at 5-3 then we may see a slight rise in the value of the Pound, a 6-2 result may lead to Sterling dropping off. What will also be key is any comments from Mark Carney, Governor of the Bank of England. Should he hint that we may see an interest rate rise before the end of the year then we could see an instant boost in the value of the Pound and an opportunity may arise for anyone looking to buy foreign currency.

Whatever happens this can be a particularly volatile day so it is key that you either keep a really close eye on the rate if you are able to, or that you have a proactive and efficient currency broker keep a close eye on things for you, acting as your eyes and ears on the market. We offer that service here, along with bank beating and market leading exchange rates too. If you feel that I could be of use to you either now or for an exchange that you are expecting to carry out in the future then you are welcome to call me (Daniel Wright) personally on 01494 787 478 or by emailing me on [email protected] and I will be more than happy to get in touch personally.

Pound Sterling exchange rates up against the Euro, down against the Australian Dollar and flat against the U.S Dollar

GBP USD Exchange Rate: The Week Ahead April 18th

Sterling exchange rates have had a fairly volatile 24 hours against some major currencies seeing a great shift in the right direction for those looking to buy Euros in the near future, this has main

This has mainly been down to both European unemployment coming out a little worse than expected yesterday along with European inflation data coming out extremely low. This has prompted investors to drop the Euro like a stone and given anyone needing to buy Euros for a pending property purchase or company transaction a great buying opportunity.

overnight we had better than expected manufacturing data out from China which gave the Australian Dollar strength and made it a little more expensive to buy Australian Dollars, it does however appear that this pairing is currently unsure as to whether it wants to head back down to 1.65 or to fly through 1.70. If I had to put my neck on the line then personally I feel we will be looking at 1.70 + in the next week or so.

Regarding Sterling and the U.S Dollar, news midweek from the Federal reserve gave the Dollar strength back down towards 1.60 which is proving to be a pivotal point so far today. News from the States later on this afternoon will surely set the scene for this pairing for the rest of the day but if you were looking to buy sell at above or below 1.60 then placing a limit order at your required level may be a prudent approach.

If you have a pending currency transfer to carry out involving buying or selling the Pound whether you are based within the U.K or not it will be sensible to get in touch with me directly. The company I work for has won numerous awards for both exchange rates and customer service and I would be more than happy to add you to my ever growing list of satisfied clients.

please do feel free to email me (Daniel Wright) directly on [email protected] and I will be more than happy to assist you.

Pound Sterling Forecast – This week’s economic data (Daniel Wright)

Sterling exchange rates have managed a slight lift to start the week off on a positive note for anyone looking to buy foreign currency with the Pound.

I have mentioned to many of my clients lately that this is an extremely difficult market to predict and almost impossible to guess what is coming next, mainly due to there being so much going on around the world and in the U.K regarding politics.

Usually we can look at upcoming economic data and have a fair idea as to how this may impact the Pound looking at what has also been released, but with Donald Trump’s Twitter account having a larger impact than solid U.K growth figures it really does not make life easy if you are in the process of buying a property overseas or if you are bringing foreign currency back into Sterling.

We do however have some key market data due out tomorrow morning at 09:30 am. A flurry of inflation data for the U.K is due out at this time, followed by some Gross Domestic Product (growth) figures from Europe at 10:00am.

Inflation data can have an impact on the Bank of England’s attitude towards interest rate changes and if inflation is coming up rather rapidly then this may start to turn the head of the BOE.

An interest rate hike is generally seen as positive for the currency concerned and a rate cut can be seen as negative so even the slightest hint of a rate hike can give Sterling strength.

We have a fairly quiet few days following this for U.K economic data but unless we hear any more political issues popping up then the main focus will be on Retail Sales figures on Friday.

Personally I feel that the Pound will have a good week but there are plenty of banana skins out there that you need to be cautious of. If you are looking to carry out an exchange involving buying or selling the Pound and you would like to make sure you maximise your money then it is key that you get in contact with me personally. Not only can I help you with the timing of the transaction but also the rates that the company I work for can offer are rarely beaten.

Feel free to contact me (Daniel Wright) on [email protected] with a brief description of what you are looking to do and I will be more than happy to get in contact with you personally to discuss the various options available to you.

GBP/USD Forecast: Will GBP/USD exchange rates remain over 1.30?

Pound to US Dollar Rate: High US Jobless Claims Causes USD Value to Fall

GBP/USD exchange rates have risen above 1.30 this week following renewed optimism that there will be some kind of deal agreed on Brexit soon. The expectation for the pound ahead is of course volatility but the growing expectation for more positive, or less negative news, has helped the currency to strengthen.

Continued turmoil in the main political parties has also triggered volatility as investors await further news on what lies ahead. With the recent Labour and Conservative party deserters, investors are having to deal with further uncertainty ahead.

The outlook at present is weakness on the US dollar, as the market absorbs the recent backtracking in interest rate hike expectations. The US was expected to look at a further 3 interest rate hikes this year, investors are now very keen to monitor future developments. Last night in their recent Federal Reserve Minutes, the US central Bank confirmed they are not likely to be proceeding with any further hikes citing global risks.

Overall, there had been a renewed optimism for the resolution in the trade wars, which could help us to see a stronger US dollar. The ongoing uncertainty will surely only see the US dollar weaker, because of the weight it puts on the global economy.

The next stages of this will be the expectation on whether or not GBP/USD rates will remain above or below 1.30, will surely stem from the next direction on Brexit. Next week is the meaningful vote which could see some big movements as investors try to position themselves for the next direction on GBP/USD rates.

In this kind of market it is very sensible to be aware of the potential for sudden, sharp movements. Whilst I feel GBP/USD levels could now remain above 1.30, as Brexit confidence rises, there is still the possibility of a no-deal to spook the market which would see the pound lower.

To discuss US Dollar rates or anything you have read in my GBP/USD forecast please contact me using the form below:


Sterling Exchange Rates Under Huge Pressure – 12 month low vs Euro and 6 year low vs US Dollar (Tom Holian)

GBP EUR Edges Higher After Recent Rates Sell-Off

Sterling exchange rates vs the Euro have fallen by as much as 12 cents in 6 weeks and the current trend sees no signs of abating.

Sterling is due to fall even further as we start the week and I would not be surprised to see rates fall below 1.30 for GBPEUR rates.

UK GDP has been downgraded recently, Retail Sales have been affected by the warm weather, Industrial and Manufacturing data- the worst in 4 years and Chancellor George Osborne warning of a cocktail of risks for the UK economy and a difficult year ahead this is weighing heavily on Sterling exchange rates.

The possibility of a Brexit is also looming and causing investors to shy away from holding the Pound.

All this bad news for the UK is creating huge Euro strength giving Euro sellers some excellent opportunities to exchange Euros into Sterling.

Things could get even worse by Tuesday when the UK announces their latest set of Inflation figures.

Low inflation is one of the main reasons why the Bank of England has chosen not to raise interest rates and with oil prices still falling this is likely to keep inflation low and therefore discourage any signs of an interest rate hike for the UK this year.

Expectations for Sterling Dollar Exchange Rates

Sterling US Dollar exchange rates are now at their lowest level for 6 years as things look promising for the US economy. The Federal Reserve has recently increased interest rates and with potentially 3 more rate rises during 2016 the Dollar appears to be the currency of choice for global investors.

China has had a terrible start to the year with their stock market having been suspended on more than once occasion owing to the dramatic falls.

This has caused a big flight to safety and therefore huge Dollar strength vs the Pound over the last fortnight.

The US Dollar could get even stronger next week as the Chinese announce GDP data on Tuesday. Expectations are for 6.8% GDP for the world’s second largest economy but with such an awful start to the year I think the results could spell trouble and therefore this could push GBPUSD rates below 1.40 by the middle of next week. Good news for anyone looking to sell Dollars.

On Wednesday the US publishes its own set of Inflation data and if strong will add further support to future interest rate rises for the US and I think we could see Sterling USD rates drop below 1.40 next week.

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 protected]

 

 

Will Sterling Push on from these levels as Eurozone Economic Growth Slows Down? (Tom Holian)

Growth in the Eurozone grew by a paltry 0.1% in the previous quarter of July through to September which was down by 0.3% compared to the second quarter of 2013. With the European Central Bank having cut interest rates by 0.25% to try and encourage growth in the single currency area this provided some recent opportunities to buy Euros at their highest level not seen since January 2013.

Many countries in the southern part of the Eurozone have been stabilized by bailouts over the last 18 months including Greece & Cyprus but there are still fears that things could get worse for the Eurozone going into 2014. Yesterday Bank of England Governor Mark Carney commented that the UK growth forecast has been raised up both for this year and next which has sent the Pound in an upwards direction.

The next test for Sterling Euro exchange rates is whether we’ll see 1.20 on the Interbank level again this week. My personal feeling is that we’ll see this by the end of tomorrow’s trading session. My reasoning behind this is that we’ve seen Sterling challenge this figure a number of times over the last two months and for me with all the positive data out recently for the UK I think it’s only a matter of time.

However, as the old saying goes what goes up must come down so even if we see the markets hit 1.20 it’s unlikely that it’ll stay there for very long as lots of Limit Orders will be triggered at a fraction above and with all the buying of Euros this often sends the price back down again.

France’s GDP actually shrank by 0.1% in the third quarter of 2013 and Germany’s growth also slowed to 0.3% from 0.7% during the previous quarter. With things slowing down in the Eurozone’s leading economy and the recent interest rate cut to 0.25% which is below the UK’s base rate investors are looking to Sterling as the safe haven currency of choice.

If your’e looking to buy Euros over the next few days feel free to contact me directly Tom Holian [email protected]

A good retail number for the UK may help the pound strengthen tomorrow but pressure will be on sterling throughout today. (Ben Amrany)

GBP EUR Edges Higher After Recent Rates Sell-Off
Ben Amrany
Ben Amrany

Data is thin on the ground today in the UK but there are still key releases  that can have an impact on buying Euros and US Dollars. This morning we have already seen inflation data out of Germany which showed no change and was as expected. At 10 am we have the same release but for the whole of the Euro zone. This could easily cause more volatility and we have already seen GBP/EUR dip below 1.20.

It seems that every time the pound tries and cement itself above 1.20 something occurs and pushes it sightly lower. What may dent the pounds rise is the ECB monthly report. This may give an insight into future policy by the ECB and if they talk up the Euro like they have in the past it may cause the Euro to strengthen further. My recommendation is that while the pound is over 1.20 capitalise on buying your currency before the decline may start.

Over in the US this afternoon they release all of their inflation figures followed by a speech by the FED chairman Ben Bernanke This could lead to a volatile end to the days trading as it may give an insight into future fiscal policies by the central bank.

Going forward while the USD is above the 1.60 level it is still attractive to but. If the FED step up their Tapering then we would expect the Dollar to strengthen significantly. All food for thought and the next 2-3 months will be an interesting one on the market.

For the pound in general tomorrow we are eagerly awaiting the key retail figures from the busy Christmas period. We are expecting a good number after many retailers stated that they had a good Christmas. YOY we are expecting the number to have risen by 0.6% up to 2.6% and any number above this may assist sterling strengthening.

If you are in the situation needing to move money internationally and looking for the best price – please feel free to contact the author – Ben Amrany – via the telephone number at the top of the page or via email at [email protected]

 

UK Unemployment Boosts Sterling (Colm Gilhooly)

GBP USD Exchange Rate Bounces Off Yet Another Two-Year Low

UK unemployment has dropped again this morning helping sterling recover some of the ground it lost after yesterday’s weak inflation figure.  However it is unlikely to affect the longer term interest rate forecasts with most analysts predicting it will happen in Summer 2015 rather than Spring.  Sterling has had a bad couple of weeks but that is coming from a significant peak on the Euro, and a US Dollar that is finally beginning to find its feet as predicted a few months back.

We have US retail sales figures this afternoon which will have a big impact on the Dollar so Cable buyers should watch this closely.  A speech by Mario Draghi tonight may also have a big impact on the Euro- it looks increasingly likely that the ECB have to embark on a much wider asset purchase program to combat very low inflation which could spark more Euro weakness.  To this end anyone buying euro may want to hold on as sterling still has a chance to take advantage of this despite the negative trend of late.

If you need to make a currency transfer and want to get the best exchange rate, then feel free to email Colm at [email protected] and I would be happy to explain how our services work.

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