Tuesday 15th September 2015
On Thursday, the US Federal Reserve will announce their decision on interest rates, and for the first time in many years, there is actually the chance of a change. It’s widely expected that the USA will be the first major western economy to start pushing interest rates up from the record lows they have been at for many years.
It’s likely that they will keep them at their record low of 0.25% for another month, however there is a 20% chance that they will raise the benchmark rate to 0.5%.
What would be the effect on exchange rates if they raise interest rates?
A hike in interest rates would make the US Dollar an attractive option for investors, due to the higher return they would get on their funds. Therefore, if the FED do indeed raise interest rates I would expect the US Dollar to gain strength and become more expensive to buy, and this would push GBP/USD exchange rates lower. The small chance of a hike will already be priced into the market, so if they leave rates on hold, then GBP/USD may rise slightly.
Looking further ahead, they are likely to raise rates at some point in the next few months, so I would not expect the GBP/USD rate to remain above the $1.50 mark for long. Most forecasts I’m reading at the moment suggest that the rate to buy Dollars will fall considerably in the medium term. Therefore if you have a requirement to buy US Dollars, click here to get in touch to discuss the ways I can help protect you against the rate moving against you.
Do you want the best exhcange rates?
If you have a currency transaction to perform there are a number of ways I can be of help. Firstly, I can source rates of exchange that are very close to the published market level, and up to 5% better than banks or other currency brokers can offer. Secondly, with over 15 years’ experience in the FX Markets, I have a very good knowledge of what can affect exchange rates, and can help you to make an informed decision on when to lock in a rate of exchange.
I would welcome the opportunity to speak to anyone that needs to get a quote on their exchange and explain how I can help you. Click here to send me your details and I will get in touch personally to discuss your requirements today.
Send me an enquiry today by clicking here.
Tampilkan postingan dengan label USD. Tampilkan semua postingan
Tampilkan postingan dengan label USD. Tampilkan semua postingan
Selasa, 15 September 2015
Jumat, 21 Agustus 2015
Why has Pound/Euro fallen into €1.38's?
Friday 21st August 2015
Since my last post on Tuesday, Sterling/Euro rates have fallen from €1.42 into the €1.38's, caused by the Euro gaining strength.
There are several factors that have caused the single currency to gain. Firstly the news that Greek Prime Minister and Syriza leader Alexis Tsipras stood down on Thursday, paving the way for new elections. This seems to have been taken as a positive move for the Euro and last night the rate starting slipping away. This continued this morning when German and European inflation numbers were better than expected, coupled with worse than expected UK Public Sector borrowing data.
As you can see from the chart below, in the last week the rate has been in steady decline. With a resolution to the Greek debt crisis, and decent EU economic data, this could well spell the end of the record 8 year high GBP/EUR exchange rates we have seen recently. It’s good news however for those selling Euros, with a typical conversion of €250,000.00 netting £4500.00 more in just a few days.
China Slow down affects currency markets
Elsewhere, the slowdown in China continues with stock markets there dropping again. This affects other global currencies because China is such a huge economy. Countries like Australia that export to China are suffering, and so the Aussie Dollar has weakened recently. The US Dollar benefits and gains strength as investors become risk averse and seek safe haven currencies.
Would you like to discuss your currency requirement and get a quote?
If you would like to discuss your foreign exchange requirements with me, then feel free to get in touch by clicking here. I provide free consultations over the phone to help you understand what is moving the exchange rate you’re interested in, and can provide you a quote for your exchange to compare with your bank or existing broker.
I can help anyone looking to convert £5000+ and I can trade nearly all the major currencies including EUR, USD, AUD, CAD, NZD, ZAR, TRY, HKD, SEK, SGD, CNH, HUF, SEK, NOK and many more.
Whether you are buying or selling property abroad, topping up a foreign account, or a business that converts currency to buy or sell overseas, chances are I can help you get a much better rate than you are currently achieving.
Since my last post on Tuesday, Sterling/Euro rates have fallen from €1.42 into the €1.38's, caused by the Euro gaining strength.
There are several factors that have caused the single currency to gain. Firstly the news that Greek Prime Minister and Syriza leader Alexis Tsipras stood down on Thursday, paving the way for new elections. This seems to have been taken as a positive move for the Euro and last night the rate starting slipping away. This continued this morning when German and European inflation numbers were better than expected, coupled with worse than expected UK Public Sector borrowing data.
As you can see from the chart below, in the last week the rate has been in steady decline. With a resolution to the Greek debt crisis, and decent EU economic data, this could well spell the end of the record 8 year high GBP/EUR exchange rates we have seen recently. It’s good news however for those selling Euros, with a typical conversion of €250,000.00 netting £4500.00 more in just a few days.
China Slow down affects currency markets
Elsewhere, the slowdown in China continues with stock markets there dropping again. This affects other global currencies because China is such a huge economy. Countries like Australia that export to China are suffering, and so the Aussie Dollar has weakened recently. The US Dollar benefits and gains strength as investors become risk averse and seek safe haven currencies.
Would you like to discuss your currency requirement and get a quote?
If you would like to discuss your foreign exchange requirements with me, then feel free to get in touch by clicking here. I provide free consultations over the phone to help you understand what is moving the exchange rate you’re interested in, and can provide you a quote for your exchange to compare with your bank or existing broker.
I can help anyone looking to convert £5000+ and I can trade nearly all the major currencies including EUR, USD, AUD, CAD, NZD, ZAR, TRY, HKD, SEK, SGD, CNH, HUF, SEK, NOK and many more.
Whether you are buying or selling property abroad, topping up a foreign account, or a business that converts currency to buy or sell overseas, chances are I can help you get a much better rate than you are currently achieving.
Click below to find out more – it’s free and you could save a significant sum.
Rabu, 29 April 2015
GBP/EUR drops to €1.3850 as Euro gains strength. GBP/USD rises.
Wednesday 29th April 2014
In my last post a week ago, I talked about the Sterling/Euro rate breaking through the €1.40 level. As I predicted, this spike to a near 8 year high was short lived, and today the rate has fallen from 1.40 down to €1.3850 as you can see from the chart below:
Simply put, the Eurozone economy is starting to perform well. Euro and German bond yields rose to their highest level in several weeks today, after data showed bank lending has stopped falling, and consumer inflation expectations have risen. As the European economist at RBC Capital Market has said, "Happier days are on the cards”. He added that "The continued improvement in credit supply conditions bodes well for the sustainability of the euro area recovery overall."
So it seems that the latest figures show that the European Central Bank's (ECB) Quantitative Easing programme is starting to have a good effect, much as stimulus programmes in the UK and USA have done. Also, there has been positive news on Greece. They are expected to present legislation to lenders to show it is serious in making efforts to repay it’s debts, and as a result the Euro has gained strength and become more expensive to buy.
If you need to buy or sell Euros, would like a quote or to discuss whether the Pound/Euro rate is likely to go up or down in the coming weeks or months, send me a free enquiry today by clicking here.
In contrast to the GBP/EUR rate dropping, GBP/USD has risen nicely in the last few weeks, rising from $1.46 to $1.55:
This is because today figures showed that the US Economy is growing much slower than expected. In turn this means that interest rates aren’t likely to rise as quickly as previously thought, and as a result the US Dollar has lost value and become more expensive to buy.
While it’s impossible to predict, I think that now the EU economy is looking more robust, focus will turn to the UK election, so we could well see Pound /Euro rates continue to fall. That assumes of course that Greece makes its upcoming €1bn debt repayments. If they don’t, a rise back to €1.40 could be on the cards.
Pound/Dollar rates on the other hand are likely to keep dropping. I think this spike above $1.50 will be short lived and expect the rate to be back down in the €1.40’s before long.
If you need to convert £5k+ from one currency to another, then it would be prudent to get in touch with me for a quotation. I can source exceptional rates of exchange for any major currency conversion on a bank to bank basis. If you would like a quote or to find out more about the service I offer, click below to send me a free no obligation enquiry. I regret I cannot help with cash or holiday funds, and can only assist those looking to have currency wired to a bank account.
Click here to send me a free no obligation enquiry today.
In my last post a week ago, I talked about the Sterling/Euro rate breaking through the €1.40 level. As I predicted, this spike to a near 8 year high was short lived, and today the rate has fallen from 1.40 down to €1.3850 as you can see from the chart below:
Why has the Pound/Euro rate fallen?
Simply put, the Eurozone economy is starting to perform well. Euro and German bond yields rose to their highest level in several weeks today, after data showed bank lending has stopped falling, and consumer inflation expectations have risen. As the European economist at RBC Capital Market has said, "Happier days are on the cards”. He added that "The continued improvement in credit supply conditions bodes well for the sustainability of the euro area recovery overall."
So it seems that the latest figures show that the European Central Bank's (ECB) Quantitative Easing programme is starting to have a good effect, much as stimulus programmes in the UK and USA have done. Also, there has been positive news on Greece. They are expected to present legislation to lenders to show it is serious in making efforts to repay it’s debts, and as a result the Euro has gained strength and become more expensive to buy.
If you need to buy or sell Euros, would like a quote or to discuss whether the Pound/Euro rate is likely to go up or down in the coming weeks or months, send me a free enquiry today by clicking here.
Pound/Dollar rates rise to nearly $1.55
In contrast to the GBP/EUR rate dropping, GBP/USD has risen nicely in the last few weeks, rising from $1.46 to $1.55:
This is because today figures showed that the US Economy is growing much slower than expected. In turn this means that interest rates aren’t likely to rise as quickly as previously thought, and as a result the US Dollar has lost value and become more expensive to buy.
Which way will Pound/Euro and Pound/Dollar exchange rates move next?
While it’s impossible to predict, I think that now the EU economy is looking more robust, focus will turn to the UK election, so we could well see Pound /Euro rates continue to fall. That assumes of course that Greece makes its upcoming €1bn debt repayments. If they don’t, a rise back to €1.40 could be on the cards.
Pound/Dollar rates on the other hand are likely to keep dropping. I think this spike above $1.50 will be short lived and expect the rate to be back down in the €1.40’s before long.
Getting the best exchange rates
If you need to convert £5k+ from one currency to another, then it would be prudent to get in touch with me for a quotation. I can source exceptional rates of exchange for any major currency conversion on a bank to bank basis. If you would like a quote or to find out more about the service I offer, click below to send me a free no obligation enquiry. I regret I cannot help with cash or holiday funds, and can only assist those looking to have currency wired to a bank account.
Click here to send me a free no obligation enquiry today.
Selasa, 17 Februari 2015
Sterling/Euro exchange rate forecast
Tuesday 17th February 2015
In today’s report I’ll take a look at the Sterling/Euro exchange rate forecast, and also what data releases the rest of the week has in store and how they could affect exchange rates. Today the Pound has fallen against other currencies due to the lowest inflation figures on record.
The Pound/Euro rate has been repeating its recent trend of rising above the €1.35 mark, only to drop back away within days. This has happened again this morning, with the rate falling from €1.3550 to €1.3450 over the course of this morning. What’s been going on?
Continued uncertainty over what is happening in Greece has continued to weaken the Euro, and that’s what keeps pushing the rate higher However with very low UK inflation numbers this morning, the Pound has fallen back away which is why GBP/EUR exchange rates have dropped. To be honest I think sooner or later, the Greeks will reach an agreement with the EU regarding its debts, and when this uncertainty is removed, the Euro could gain back some of its losses and bring GBP/EUR even lower. I personally don’t expect rates to stay at the €1.35 level for long.
Supporting that view was this morning’s UK inflation figures. The rate of UK Consumer Prices Index inflation fell to 0.3% in January, its lowest level since records began in 1989.
On the one hand, this does provide a respite for consumers in the UK and increase spending power so it’s good news. On the other hand however, it means interest rates in the UK aren’t going anywhere, and so the Pound has weakened off.
(Low interest rates usually weaken a currency and it’s this fact that’s keeping the Pound in check.)
Tuesday 17th February 2015
This morning we had the latest inflation figures, and they were slightly worse than expected. This means it’s getting less and less likely that interest rates will be going up any time soon in the UK, and the Pound has fallen today by over a cent against the Euro.
Wednesday 18th February 2015
Today is an important one for Sterling, as at 09:30am we will see the latest unemployment figures, and the Bank of minutes. I expect the unemployment number to remain at 2.6%, but if it’s higher than this expect the Pound to fall and vice versa. The BoE minutes will be important as it will show if any of the Banks Monetary Policy committee voted to hike interest rates at their last meeting. I would expect this to show all members voting to keep rates on hold in light of the recent inflation numbers.
Thursday 19th February 2015
Nothing of note from the UK today, however the Eurozone has a monetary policy meeting and a consumer confidence release, that could affect GBP/EUR rates. The USA also has some important jobs and manufacturing numbers today, so we could also see changes in the Pound/Dollar rate.
Friday 20th February 2015
Today is another important one for Sterling as we have the latest UK Retail Sales numbers. I expect these to be around the 5.9% mark, and any deviation from this figure could cause the Pound to move against other currencies. Retail Sales figures are important as they are a good overall barometer of economic activity.
To discuss your currency requirement and obtain a quote to compare with your bank or existing broker, click here.
In today’s report I’ll take a look at the Sterling/Euro exchange rate forecast, and also what data releases the rest of the week has in store and how they could affect exchange rates. Today the Pound has fallen against other currencies due to the lowest inflation figures on record.
Sterling/Euro
The Pound/Euro rate has been repeating its recent trend of rising above the €1.35 mark, only to drop back away within days. This has happened again this morning, with the rate falling from €1.3550 to €1.3450 over the course of this morning. What’s been going on? Continued uncertainty over what is happening in Greece has continued to weaken the Euro, and that’s what keeps pushing the rate higher However with very low UK inflation numbers this morning, the Pound has fallen back away which is why GBP/EUR exchange rates have dropped. To be honest I think sooner or later, the Greeks will reach an agreement with the EU regarding its debts, and when this uncertainty is removed, the Euro could gain back some of its losses and bring GBP/EUR even lower. I personally don’t expect rates to stay at the €1.35 level for long.
Supporting that view was this morning’s UK inflation figures. The rate of UK Consumer Prices Index inflation fell to 0.3% in January, its lowest level since records began in 1989. On the one hand, this does provide a respite for consumers in the UK and increase spending power so it’s good news. On the other hand however, it means interest rates in the UK aren’t going anywhere, and so the Pound has weakened off.
(Low interest rates usually weaken a currency and it’s this fact that’s keeping the Pound in check.)
If you need the best GBP/EUR rates, or indeed need to convert any international currency, click here to make a free enquiry on the commercial exchange rates I can offer you.
What else could move exchange rates this week?
Tuesday 17th February 2015
This morning we had the latest inflation figures, and they were slightly worse than expected. This means it’s getting less and less likely that interest rates will be going up any time soon in the UK, and the Pound has fallen today by over a cent against the Euro. Wednesday 18th February 2015
Today is an important one for Sterling, as at 09:30am we will see the latest unemployment figures, and the Bank of minutes. I expect the unemployment number to remain at 2.6%, but if it’s higher than this expect the Pound to fall and vice versa. The BoE minutes will be important as it will show if any of the Banks Monetary Policy committee voted to hike interest rates at their last meeting. I would expect this to show all members voting to keep rates on hold in light of the recent inflation numbers.
Thursday 19th February 2015
Nothing of note from the UK today, however the Eurozone has a monetary policy meeting and a consumer confidence release, that could affect GBP/EUR rates. The USA also has some important jobs and manufacturing numbers today, so we could also see changes in the Pound/Dollar rate.
Friday 20th February 2015
Today is another important one for Sterling as we have the latest UK Retail Sales numbers. I expect these to be around the 5.9% mark, and any deviation from this figure could cause the Pound to move against other currencies. Retail Sales figures are important as they are a good overall barometer of economic activity.
To discuss your currency requirement and obtain a quote to compare with your bank or existing broker, click here.
Kamis, 12 Februari 2015
Pound surges to €1.3560 after Inflation Report
Thursday 12th February 2015
We have seen the Pound surge higher today on the back of the Bank of England’s Inflation report. Pound/Euro rates climbed from 1.3410 to a peak of 1.3560, a new 7 and half year high, before settling back down towards €1.35:
I’m actually quite surprised that the Pound moved so much this morning. In the report, the Bank of England governor stated that inflation in the UK could temporarily turn negative later this year due to the drop in the price of oil, and normally falling inflation would weaken a currency. However he went on to say that for the next few years, growth could be higher than expected at 2.9%. I think it’s this upward revision that caused the Pound to rise because of falling oil prices.
It also said it sees little need to raise interest rates this year (again, something you would normally expect to weaken a currency) and could even cut them if inflation proves weaker than expected. However it seems that the markets interpreted the report as keeping on track an expected interest rate rise in about a year, in early 2016.
Asked about concerns about Greece leaving the Eurozone, Mr Carney said that the risks were not as great as they were three years ago, but that a Greek exit would have an impact on the Bank's forecasts.
I think this is a temporary spike. We have seen the rate hit similar levels just this week; however they did not last long and the rate dropped away quite quickly. With the UK election likely to cause uncertainty and Sterling weakness, I think the Pound will struggle to go much higher this year.
We also have the situation in Greece and the EU. On the one hand, further problems could weaken the Euro and caused the rate to climb higher. On the other hand, when the EU’s QE measures start to take effect, this could cause the Euro to regain strength and bring rates down. Also, don’t automatically assume more bad news from Europe will cause GBP/EUR to keep rising. Yes it could weaken the Euro, but as our largest trading partner, this could well drag Sterling down at the same time.
There are various options available, depending on which currency you are converting and the timescales you are working to. Why not get in touch with me to discuss these options and obtain a quote for your exchange. I can usually provide exchange rates much better than banks and other brokers, and by having a detailed chat about what you need to do, you can make an informed decision on what course of action to take and when to fix your rate.
We have seen the Pound surge higher today on the back of the Bank of England’s Inflation report. Pound/Euro rates climbed from 1.3410 to a peak of 1.3560, a new 7 and half year high, before settling back down towards €1.35:
Pound/Euro rates up on Inflation report
I’m actually quite surprised that the Pound moved so much this morning. In the report, the Bank of England governor stated that inflation in the UK could temporarily turn negative later this year due to the drop in the price of oil, and normally falling inflation would weaken a currency. However he went on to say that for the next few years, growth could be higher than expected at 2.9%. I think it’s this upward revision that caused the Pound to rise because of falling oil prices. It also said it sees little need to raise interest rates this year (again, something you would normally expect to weaken a currency) and could even cut them if inflation proves weaker than expected. However it seems that the markets interpreted the report as keeping on track an expected interest rate rise in about a year, in early 2016.
Asked about concerns about Greece leaving the Eurozone, Mr Carney said that the risks were not as great as they were three years ago, but that a Greek exit would have an impact on the Bank's forecasts.
What does this mean for Sterling/Euro rates?
I think this is a temporary spike. We have seen the rate hit similar levels just this week; however they did not last long and the rate dropped away quite quickly. With the UK election likely to cause uncertainty and Sterling weakness, I think the Pound will struggle to go much higher this year. We also have the situation in Greece and the EU. On the one hand, further problems could weaken the Euro and caused the rate to climb higher. On the other hand, when the EU’s QE measures start to take effect, this could cause the Euro to regain strength and bring rates down. Also, don’t automatically assume more bad news from Europe will cause GBP/EUR to keep rising. Yes it could weaken the Euro, but as our largest trading partner, this could well drag Sterling down at the same time.
When should you fix your exchange rate?
There are various options available, depending on which currency you are converting and the timescales you are working to. Why not get in touch with me to discuss these options and obtain a quote for your exchange. I can usually provide exchange rates much better than banks and other brokers, and by having a detailed chat about what you need to do, you can make an informed decision on what course of action to take and when to fix your rate.
Selasa, 13 Januari 2015
Sterling rises by over a cent after inflation figures released
Tuesday 13th January 2015
The Pound has risen well against both the Euro and US Dollar today, pushing GBP/EUR up 1 cent to close to €1.29, and GBP/USD also rose a cent to $1.5165. The rise in exchange rates comes after figures this morning showed that inflation in the UK has fallen to 0.5%, the lowest level on record.
The low inflation means that interest rates are very likely to stay on hold for some time to come. Usually this would weaken a currency, so why have the low inflation numbers caused the Pound to rise?
It’s because the fall is seen as generally good news for the UK economy. Recent figures already indicated that interest rates are likely to stay on hold this year, so today’s figures haven’t changed that view, and that’s why the Pound didn’t fall. What the figures do mean is that spending power in the UK has increased, and this in turn should spur the economy as a whole as people have more disposable income, so things like Retail Sales should go up as people feel more confident in the UK’s economic recovery.
It should be noted however that the GBP/EUR rate in particular keeps getting to these levels, before dropping back off again. This trend has repeated itself many times over the last 12 months. Those with Euros to buy should therefore consider taking advantage of the current levels, which are after all around the best they have been in over 6 years.
Those converting Euros to Pounds however should be cautious, as any further indication of monetary stimulus in the Eurozone could well weaken the Euros buying power.
If you have a currency transaction to perform over the next 6 months, get in touch with my by completing the enquiry form here. I can provide you a very competitive quote, discuss the current state of exchange rates, and run over the various options you can consider to ensure you make the most of your currency.
Click here to send me a free no obligation enquiry today.
The Pound has risen well against both the Euro and US Dollar today, pushing GBP/EUR up 1 cent to close to €1.29, and GBP/USD also rose a cent to $1.5165. The rise in exchange rates comes after figures this morning showed that inflation in the UK has fallen to 0.5%, the lowest level on record.
Why has the Pound risen on the low inflation figures?
The low inflation means that interest rates are very likely to stay on hold for some time to come. Usually this would weaken a currency, so why have the low inflation numbers caused the Pound to rise?
It’s because the fall is seen as generally good news for the UK economy. Recent figures already indicated that interest rates are likely to stay on hold this year, so today’s figures haven’t changed that view, and that’s why the Pound didn’t fall. What the figures do mean is that spending power in the UK has increased, and this in turn should spur the economy as a whole as people have more disposable income, so things like Retail Sales should go up as people feel more confident in the UK’s economic recovery.
It should be noted however that the GBP/EUR rate in particular keeps getting to these levels, before dropping back off again. This trend has repeated itself many times over the last 12 months. Those with Euros to buy should therefore consider taking advantage of the current levels, which are after all around the best they have been in over 6 years.
Those converting Euros to Pounds however should be cautious, as any further indication of monetary stimulus in the Eurozone could well weaken the Euros buying power.
Getting the best possible exchange rates.
If you have a currency transaction to perform over the next 6 months, get in touch with my by completing the enquiry form here. I can provide you a very competitive quote, discuss the current state of exchange rates, and run over the various options you can consider to ensure you make the most of your currency.
Click here to send me a free no obligation enquiry today.
Senin, 03 November 2014
What could affect exchange rates this week?
Monday 3rd November 2014
We have seen Pound/Euro rates reach €1.28 today, due to slightly better than expected manufacturing numbers that gave Sterling a boost. The other reason rates have climbed up from €1.27 is a weaker Euro following last week’s decision from the USA to end their QE programme.
The end of QE in the states strengthened the US Dollar, pulling rates down below $1.60 where they remain today.
Below I have listed this week’s economic numbers that I think could affect exchange rates. I personally think that Pound/Euro will slip back away again in the coming days, as has been the general trend in the last few weeks. The high GBP/EUR rate is not good for the UK economy as it makes our goods and services more expensive.
In the last few weeks we’ve seen BoE members and even the Prime Minister stating their wish for interest rates to stay at record lows for a long time to come. This could well be an attempt to weaken the Pound to help our exports, and I believe this could hold the Pound back from making further gains.
If you need the best exchange rates, would like a quote, or to simply find our more about the foreign exchange services I can offer, click here to send me a free no obligation enquiry today.
Tuesday 4th November – There are various economic figures from Australia today, including an interest rate decision, Trade Balance figures, and the latest Retail Sales numbers, so GBP/AUD could face some volatility. In the UK the only data of note is construction numbers. Over in the USA we have Trade Balance numbers, and the Bank of Canada’s Governor gives a speech. New Zealand has its latest employment numbers which could affect GBP/NZD
Wednesday 5th November – A very quiet day for economic data releases. The only UK release is Services PMI. The Eurozone releases Retail Sales numbers in the USA we have manufacturing figures.
Thursday 6th November – Today could be interesting for the Pound. We have Industrial and Manufacturing numbers at 09:30am, followed at lunchtime by the BoE decision on Interest Rates. I expect no movement, but any accompanying statement could affect Sterling. The Eurozone also has its interest rate decision. Again rates will be left on hold in all likelihood, but any hint of stimulus in the accompanying statement could weaken the Euro, pushing up GBP/EUR. In the afternoon, a GDP estimate will also be closely watched as an indicator of how the UK economy is performing.
Friday 7th November – Today’s main UK release is Trade Balance data. This is important as if exports are down, it could mean the BoE talking the Pound down to try to help this area. In the USA we have Unemployment and Non-Farm payrolls, which are very hard to forecast. As a result, the actual figures often surprise the markets and affect GBP/USD rates.
For more information on how the above could affect your currency requirement, or to get an exchange rate quote to compare with your bank or existing broker, click below to send me a free enquiry now.
Click here to send a free no obligation enquiry.
We have seen Pound/Euro rates reach €1.28 today, due to slightly better than expected manufacturing numbers that gave Sterling a boost. The other reason rates have climbed up from €1.27 is a weaker Euro following last week’s decision from the USA to end their QE programme.
The end of QE in the states strengthened the US Dollar, pulling rates down below $1.60 where they remain today.
Below I have listed this week’s economic numbers that I think could affect exchange rates. I personally think that Pound/Euro will slip back away again in the coming days, as has been the general trend in the last few weeks. The high GBP/EUR rate is not good for the UK economy as it makes our goods and services more expensive. In the last few weeks we’ve seen BoE members and even the Prime Minister stating their wish for interest rates to stay at record lows for a long time to come. This could well be an attempt to weaken the Pound to help our exports, and I believe this could hold the Pound back from making further gains.
If you need the best exchange rates, would like a quote, or to simply find our more about the foreign exchange services I can offer, click here to send me a free no obligation enquiry today.
This week’s economic data releases
Tuesday 4th November – There are various economic figures from Australia today, including an interest rate decision, Trade Balance figures, and the latest Retail Sales numbers, so GBP/AUD could face some volatility. In the UK the only data of note is construction numbers. Over in the USA we have Trade Balance numbers, and the Bank of Canada’s Governor gives a speech. New Zealand has its latest employment numbers which could affect GBP/NZD
Wednesday 5th November – A very quiet day for economic data releases. The only UK release is Services PMI. The Eurozone releases Retail Sales numbers in the USA we have manufacturing figures.
Thursday 6th November – Today could be interesting for the Pound. We have Industrial and Manufacturing numbers at 09:30am, followed at lunchtime by the BoE decision on Interest Rates. I expect no movement, but any accompanying statement could affect Sterling. The Eurozone also has its interest rate decision. Again rates will be left on hold in all likelihood, but any hint of stimulus in the accompanying statement could weaken the Euro, pushing up GBP/EUR. In the afternoon, a GDP estimate will also be closely watched as an indicator of how the UK economy is performing.
Friday 7th November – Today’s main UK release is Trade Balance data. This is important as if exports are down, it could mean the BoE talking the Pound down to try to help this area. In the USA we have Unemployment and Non-Farm payrolls, which are very hard to forecast. As a result, the actual figures often surprise the markets and affect GBP/USD rates.
For more information on how the above could affect your currency requirement, or to get an exchange rate quote to compare with your bank or existing broker, click below to send me a free enquiry now.
Click here to send a free no obligation enquiry.
Jumat, 14 Februari 2014
Best Exchange Rates for EUR, USD, NZD, AUD, ZAR
Friday 14th February 2014
Sterling exchange rates have held on to the gains made earlier in the week, due to the Bank of England comments that I talked about in my last post. We are now at multi-year highs against many currencies, so it's a great time to need to convert Pounds to another currency.
Today, I'm going to have a look at some of the most widely traded currencies, including charts to show how the rate has moved over the last 3 months, and the forecast for whether exchange rates will go up or down during 2014.
Sterling/Euro
Rates to buy Euros with Pounds are around the best they have been for over a year. This is due to the strong UK economy. Even data today that showed the Eurozone is growing at a faster rate than expected did little to dent the rate, and we remain around €1.22.
It's hit these levels several times over the last few months only to drop away again. Whether that will happen again, or if these levels will now be sustained remains to be seen. The BoE hinted this week that it’s not happy with rates being too high, so one danger is they will try to weaken Sterling should it rise much further.
Euro buyers should consider a Stop Loss order to protect against a downturn, but should the market keep rising you can still take advantage. Personally I expect the rate to go up further as the year goes on, but not until the summer when I expect it to be around the €1.25 level.
Click here to get a EUR quote
Sterling/US Dollar
The current rate to buy Dollars is the best in nearly 3 years. Again Sterling strength is part of the story, but the USD weakening in recent months has also had an impact.
I don’t expect rates to keep rising against the US Dollar. The US economy is slowly starting to follow the UK in building back towards sustainable growth. So at this continues, the USD will likely gather strength which would pull the rate lower. So if you need to buy USD, consider locking the rate in while it is so good.
Click here to get a USD quote
Sterling /Australian Dollar
Only last year the GBP/AUD rate was at a 20 year low, however has risen over 20% in value since then which is remarkable. Right now the rate is the best it’s been in over 4 years. Again the Pound is strong which has helped, but most of the gains have been due to the AUD weakening.
They have cut interest rates recently, may do so again, and the fact China’s economy has slowed down quite a bit has meant that there is less demand by them for Australia’s raw materials which are a huge export. Given the huge increase in the rate, I can’t see it going that much higher in the short to medium term. If China’s economy picks up again, expect the rate to drop back away.
If I needed to buy AUD any time soon, I would look at the charts and think that going from a 30 year low to a 4 year high is no bad thing, and would want to put some protection in place to make sure I don’t lose out.
Click here to get a AUD quote
Sterling/New Zealand Dollar
GBP/NZD sits around $2 to the Pound at the moment. We haven’t seen the same trends we’ve seen with the Aussie, due to the fact the NZD hasn’t weakened as much as they don’t export raw materials like Australia.
Despite this, the rate is still around the best it’s been in 18 months, and 10% higher than last year. We’ve not seen much of an increase recently, and I can’t see it going much above 2% as New Zealand has much higher interest rates than us.
Click here to get a NZD quote
Sterling/South African Rand
GBP/ZAR has risen in value by 45% in the last 4 years. That is not a typo! Back in 2011 rates were just above 10 rand to the Pound; right now it’s over 18 to the Pound. It’s only hit these sorts of levels twice in the last 13 years.
The Rand has weakened enormously in recent years due to a big drop in mining, political problems, and investors looking elsewhere to emerging markets.
If I needed rand, a 45% increase in value is all I would really need to know – of course it may go higher still, but why hold out for an inch and risk losing a mile.
Click here to get a ZAR quote
Do you need competitive exchange rates?
The above is a quick snapshot of my view of some main currencies I can offer. I trade nearly all major currencies such as EUR, USD, JPY, CHF, CAD, NZD, AUD, ZAR, HUF, DKK, SEK, AED, SGD, THB, CNY, PLN to name just a few.
If you are looking for the best exchange rates, you can get in touch with me for a free quote. Usually the rates I can offer you are up to 5% better than the banks can offer.
So contact me today to have a brief chat regarding the currency pair you are interested in, and I can explain how my service works and the rates I can offer. Even if you currently use a broker elsewhere, taking a few minutes to compare the rates on offer can save you a significant sum.
Click here to send me a free no obligation enquiry.
Have a great weekend.
Alastair Archbold
Sterling exchange rates have held on to the gains made earlier in the week, due to the Bank of England comments that I talked about in my last post. We are now at multi-year highs against many currencies, so it's a great time to need to convert Pounds to another currency.
Today, I'm going to have a look at some of the most widely traded currencies, including charts to show how the rate has moved over the last 3 months, and the forecast for whether exchange rates will go up or down during 2014.
Sterling/Euro
Rates to buy Euros with Pounds are around the best they have been for over a year. This is due to the strong UK economy. Even data today that showed the Eurozone is growing at a faster rate than expected did little to dent the rate, and we remain around €1.22.
It's hit these levels several times over the last few months only to drop away again. Whether that will happen again, or if these levels will now be sustained remains to be seen. The BoE hinted this week that it’s not happy with rates being too high, so one danger is they will try to weaken Sterling should it rise much further.
Euro buyers should consider a Stop Loss order to protect against a downturn, but should the market keep rising you can still take advantage. Personally I expect the rate to go up further as the year goes on, but not until the summer when I expect it to be around the €1.25 level.
Click here to get a EUR quote
Sterling/US Dollar
The current rate to buy Dollars is the best in nearly 3 years. Again Sterling strength is part of the story, but the USD weakening in recent months has also had an impact.
I don’t expect rates to keep rising against the US Dollar. The US economy is slowly starting to follow the UK in building back towards sustainable growth. So at this continues, the USD will likely gather strength which would pull the rate lower. So if you need to buy USD, consider locking the rate in while it is so good.
Click here to get a USD quote
Sterling /Australian Dollar
Only last year the GBP/AUD rate was at a 20 year low, however has risen over 20% in value since then which is remarkable. Right now the rate is the best it’s been in over 4 years. Again the Pound is strong which has helped, but most of the gains have been due to the AUD weakening.
They have cut interest rates recently, may do so again, and the fact China’s economy has slowed down quite a bit has meant that there is less demand by them for Australia’s raw materials which are a huge export. Given the huge increase in the rate, I can’t see it going that much higher in the short to medium term. If China’s economy picks up again, expect the rate to drop back away.
If I needed to buy AUD any time soon, I would look at the charts and think that going from a 30 year low to a 4 year high is no bad thing, and would want to put some protection in place to make sure I don’t lose out.
Click here to get a AUD quote
Sterling/New Zealand Dollar
GBP/NZD sits around $2 to the Pound at the moment. We haven’t seen the same trends we’ve seen with the Aussie, due to the fact the NZD hasn’t weakened as much as they don’t export raw materials like Australia.
Click here to get a NZD quote
Sterling/South African Rand
GBP/ZAR has risen in value by 45% in the last 4 years. That is not a typo! Back in 2011 rates were just above 10 rand to the Pound; right now it’s over 18 to the Pound. It’s only hit these sorts of levels twice in the last 13 years.
The Rand has weakened enormously in recent years due to a big drop in mining, political problems, and investors looking elsewhere to emerging markets.
If I needed rand, a 45% increase in value is all I would really need to know – of course it may go higher still, but why hold out for an inch and risk losing a mile.
Click here to get a ZAR quote
Do you need competitive exchange rates?
The above is a quick snapshot of my view of some main currencies I can offer. I trade nearly all major currencies such as EUR, USD, JPY, CHF, CAD, NZD, AUD, ZAR, HUF, DKK, SEK, AED, SGD, THB, CNY, PLN to name just a few.
If you are looking for the best exchange rates, you can get in touch with me for a free quote. Usually the rates I can offer you are up to 5% better than the banks can offer.
So contact me today to have a brief chat regarding the currency pair you are interested in, and I can explain how my service works and the rates I can offer. Even if you currently use a broker elsewhere, taking a few minutes to compare the rates on offer can save you a significant sum.
Click here to send me a free no obligation enquiry.
Have a great weekend.
Alastair Archbold
Langganan:
Postingan (Atom)