Euro remains stable as markets await Coalition news – Reserve Bank of Australia minutes show rate decision finely balanced and Bank of England minutes tomorrow are key for the Pound

Pound to Dollar forecast: Sterling continues to decline against the US Dollar

As I had predicted in my post on Friday the Greek elections, although built up to be a huge thing for the currency markets actually didn’t lead to much change at all, it will still be indeed the coming days and weeks that will be the important part and will decide where the Euro is the head next… Once again it seems like the market is now range bound awaiting the next big push.

Assuming we still have no further news from the Greeks then the big news for Sterling Euro will be the Bank of England minutes out tomorrow morning at 09:30am. CPI data this morning is the pick of the data for the U.K today at 09:30am which may give the Pound a short term boost if it comes out that little bit higher than expected but I doubt it will be making too much of an impact on a market which just appears to have all traders eyes on our Greek friends. The Bank of England minutes will be an overview of what was said at the last BOE interest rate decision and any nod to Quantitative Easing may lead to the Pound weakining, however we did see a new stimulus package put in place last week so I don’t expect major fireworks.

The RBA overnight released their meeting minutes and it suggested that it was a close decision to cut interest rates in Australia last month which suggests the RBA may hold fire on another cut at the next rate decision. Intrerest rate cuts are usually seen as negative for the currency concerned and a hike in rates seen as positive, so the fact they may hold off may lead to the AUD gaining back some strength in the short term. The fact that the Greek scenario is now looking slightly more positive (however nowhere near fixed) may also strangthen currencies such as the AUD, NZD, ZAR and CAD.

If you have a pending currency transfer and you want a better rate than your current broker is offering you, along with an extremely high level of customer service and efficiency from people with years of experience then feel free to contact me personally by emailing me on [email protected]

What next for the pound? EU Summit will unsettle nerves!

Pound to Dollar Forecast: GBPUSD Continues Upward Trend but for How Long?

The pound is likely to be in for a very tough few weeks as investors try to second guess the future direction for the UK economy and predict the impact on sterling exchange rates. The  The pound is not performing well in such an uncertain environment although there will be opportunities. Let me be very clear, the next 6 months will present some very favourable opportunities to buy the pound. Arguably we are already in the midst of those opportunities, Euro sellers for pounds are achieving 10% more than in November. USD sellers for the pound are achieving 8% more. These movements in such a short space of time should not be taken too lightly but yet of course it could get better.

Markets move ahead of events so right now the institutional investors who move markets are thinking hmmm, I don’t know is next for the pound and the UK. I am selling my pounds. They are planning for the worst in anticipation of a possible Brexit and worse news up ahead. Often on markets events are not as bad as everyone predicts which means that we may well see the pound spike up as the new is essentially ‘not so bad’.

All in all if you are buying the pound in the future things could easily improve but I am sure you don’t want to miss out if as is so often the case on exchange rates and markets, things aren’t as bad as everyone expected. If you have a transfer to consider then please get in touch, I can keep you up to date with the latest trends and themes and help plan and manage your transfers. Please email [email protected] to learn more about all the services and options we can provide.

Pound Sterling exchange rates post brexit – Where do rates head next? (Daniel Wright)

Pound to Dollar Rate Sinks Following Fed Meeting

So we have had a fairly dramatic few weeks since the result of the referendum and I would be pretty surprised if we don’t end up with an extremely volatile market for the next few months.

For anyone with a currency exchange to carry out in the coming days, weeks or months volatility brings you both, excitement, fear and opportunity as the Pound is currently at a 31 year low on a trade weighted basis.

The next big release of interest (assuming there are no more surprises) will be the Bank of England interest rate decision, meeting minutes and summary of QE due out on Thursday 14th July. Investors and speculators alike will be watching to see what move we will be seeing from Mark Carney to try and tackle the potential economic turbulence we have ahead for the U.K.

Carney has hinted at a potential interest rate cut, this may lead to further weakness for the Pound, on top of this the minutes showing what was discussed and how the plans were put in place will be of great interest and will no doubt lead to some extremely choppy trading conditions once again.

I personally feel that the plane has well and truly overshot the runway at the moment, if you look at the cold hard facts then apart from Governmental problems which will eventually resolve themselves, nothing else has actually officially changed. There is still a long way to go before we have pulled the trigger on the starting pistol to leave the EU by acting on article 50.

Banks, funds and many others are acting in advance of potential issues and the newspapers are hyping up the potential doom and gloom ahead but there is still a chance that nothing will actually change.

If you are in the process of bringing money back from overseas or you have an upcoming currency exchange requirement then these are the times that you really need to make sure you have an experienced and proactive currency broker helping you every step of the way. We have seen these kind of markets before, I worked during the European debt crisis and during Fanny May/Freddie Mac so know what may be lying next and how to tailor a game plan to try and help our clients get the most for their money.

If you are in this position then feel free to email me (Daniel Wright) the creator of this site on [email protected] with a brief overview of what you are looking to do and a contact number. Please note we do not deal in holiday money or cash.

Tomorrow we see the release of Non-Farm payroll data which can impact all major currencies, including the Australian and New Zealand Dollar. The reason this happens is because Non-Farm payroll data measures the number of people in Non-Agricultural employment in the U.S and they quite often get the prediction fairly wrong. Due to the markets moving on rumour as well as fact you can see rates move based on predictions and then swiftly correct themselves once the data is actually released.

Once again we are more than happy to add to our 60,000+ clients so if you have a currency exchange to carry out involving any of the major currencies and you would like to speak with me personally then feel free to email me (Daniel Wright) on [email protected] – I deal with clients buying and selling properties overseas, business transactions, high-net-worth individuals and premier league footballers on a daily basis so would be happy to assist you too in the strictest of confidence.

Best Rates of Exchange – Buying EUR / USD

Pound to Dollar Rate Buoyed by UK Employment Data

We have seen a strong move for Sterling this morning, as at 09:30 came an announcement of a reduction of people unemployed in the UK. The figure has reduced by 32,600 against an expected reduction of 22,000. This is further good news for the UK economy and has seen GBP move through 1.19 against EUR and through 1.58 against USD. The unemployment figure is heavily linked to the UK Quantitative Easing programme, and as the figure has reduced, it may be a good indicator that Mark Carney at the Bank of England will look to increase interest rates sooner than expected.  An interest rate increase would be good news for the UK Economy and although Carney doesn’t want to discuss a rate hike until September 2016, he may find that he is in a position to do so sooner rather than later!

USD Update

The US Federal Reserve meet on 15th of the month and I would not be surprised if we saw USD reclaiming some of its lost ground against most currencies. The Fed have been waiting for the right moment to start reducing their own Quantitative Easing Programme, and although the US unemployment figures released on Friday weren’t as good as hoped (Non Farm Payroll), the FED indicated September / Quarter three as the time to commence. Could we see GBP USD back at 1.50 next week? I think that there is a distinct possibility!

If you have a transaction to book or thinking of, please feel free to drop me a line to discuss your options. There are various options that you can take advantage of when using ourselves, including stop loss contracts (a safety net) and limit orders (automatic currency purchase orders). We have won ‘Best Rate of Exchange’ on several occasions, so I am confident that we can provide you the very best price!

I look forward to being of assistance

Andrew Bromley

[email protected]

01494 787 478

Sterling exchange rates at fantastic levels for buying foreign currency – Will these rates last? (Daniel Wright)

The pound set to make it a hattrick of daily gains versus the dominant dollar

GBP-EUR rates closing in on 12 month high once again

GBP-USD rates near to a 4 and a half year high

GBP-CAD rates near 5 year high

GBP-AUD Near 4 year high

Great time to buy!

Sterling exchange rates are currently at great buying levels compared to what we saw available throughout the course of 2013 as shown above!

We have an exciting year ahead with plenty going on in the market and as always I shall endeavor to keep you all full up to date with all the action.

This week has been fairly quiet on the economic data front, and exchange rates have been fairly flat.

Next week brings the start of March and what this means is that we will start to see the releases of economic data from February. One thing to really bear in mind is that throughout most of February parts of the U.K were almost at a standstill – With terrible flooding virtually shutting down entire towns and villages, not to mention seriously affecting transport links.

In my opinion this must have really weighed heavily on the economy and it could start to show in the coming weeks. Of course the U.K has been on the charge of late in terms of economic data so a slight halt in progress could easily push Sterling down a little again.

Of course you never really know just what is coming next for the Pound as many of you will be well aware, but this is certainly a potential point to take on board if you are looking to buy foreign currency in the coming weeks.

If you have a requirement in the future but you do not yet have the full availability of funds you can book out a forward contract. This is where you can book a rate out for up to a year in advance with just a small deposit, removing the risk of the currency market making your purchase any more expensive in the future.

This is ideal if you are in the process of buying a property overseas as you can know exactly how much the property is going to cost you today and eliminate the risk of the Pound dropping away again and missing out on this great opportunity.

I look forward to speaking with you if you have any questions or queries or you would like to book out a rate of exchange. All you need to do is email me directly on [email protected] with a brief description of what you are looking to do and I will be more than happy to assist you.

Best Rates of Exchange – Exchange Rate Forecast (Andrew Bromley)

Pound to Dollar Rate Buoyed by UK Employment Data

When to Buy or Sell Euros?

Sterling Euro exchange rates are looking favourable for those buying the Single Currency, as several large factors loom over Europe. The first major factor is the Greek Election scheduled for 25th January – political analysts are expecting the Euro Sceptic ‘Syriza’ to potentially gain control. Syriza are keen to re-negotiate the bailout terms imposed by both the ECB (Eurozone Central Bank) and the IMF (International Monetary Fund), to try and remove the oppressive feeling of overwhelming austerity. If Syriza were to gain control of Greece, you could potentially see Euro weakness, as it could pave the way for other struggling Eurozone Economies (Ireland, Portugal etc) to consider attempting to re-negotiate their own bailouts.

With all this going on, Mario Draghi (Chair of the ECB) also has to prepare his staff for the impending Quantitative Easing programme due. The process of pumping money in to the economy has been used in primarily The US, Japan and The UK. Implementing QE tends to weaken the associated currency, so even a tenuous ‘QE’ statement can see a rate drop. Tomorrow the ECB release their CPI data (inflation) and analysts expect that the rate at which goods and services to have raised in value to be 0%! If this is the case then we could see the Euro drop significantly in readiness of a QE announcement / commencement on 21st January (the next ECB meeting).

US Dollar Forecast

Cable exchange rates are at their lowest since August 2013, with expectations of rates pushing below 1.50 very real! They key mover this week will be Nonfarm Payrolls data on Friday (13:30) which is a notoriously hard release to predict. If you are selling Dollars, I’d be inclined to get exchanged prior to this release as with such favourable rates at the moment it wouldn’t take much to move out of this favourable range!

If you have an exchange requirement, please feel free to contact the trading floor directly on 01494 787 478 to discuss. I am also contactable directly on [email protected]

I look forward to hearing from you…

Andrew Bromley

 

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