Production data up - Sterling makes minor gains on EURO South African Rand Dollar - Australian and New Zealand

This morning Production data for the U.K came out surprisingly higher than expected, it has lead to minor gains for the Pound against a basket of major currencies.

We await the release of the Bank of England inflationary report and Mervyn King's speech at half past 10, and during the course of the day the GDP estimate from the NIESR and Trade balance figures for the U.S.

This is a brief summary of todays report for further information on the currency markets or if you have an upcoming transfer to make and want to discuss the options available to you call Daniel Wright on 01494 787462 or email me djw@currencies.co.uk

I assist thousands of clients to send money overseas or receive money from overseas involving the following currencies - Please note I do not deal with cash it is bank to bank only!! AED AUD BHD CAD CHF CZK DKK EUR GBP HKD HUF INR ILS JPY KES KWD MAD MUR MXN NOK NZD OMR PLN SAR SEK SGD THB TRY USD ZAR

Have a great day and thanks for reading!

Daniel Wright

Need a hotel overseas - Look no further, click below!!

[09:07:23] Chris Knights:

Selling GBP to Buy Euro, Dollar, Australian Dollar, New Zealand Dollar, Swiss Franc or any other major currency Or Buying GBP with foreign currency

Today is extremely thin on the ground data wise with no data releases of note for any of the major economies - this could lead to market movements being based on confidence and carry trading as opposed to moving off the back of certain data releases.

At present, confidence in the U.K and indeed the Pound is slightly higher than it has been over the second half of the year but still reasonably low compared to other major world economies.

Carry trading is also playing a major part in the markets of late as well - this Particularly effects the Australian Dollar, New Zealand Dollar and South African Rand strength.

Carry trading is where an investor will borrow funds in a currency with a low interest rate (Japanese Yen,Dollar and British Pound) And then invest them in a currency with a much higher interest rate (Australian Dollar, New Zealand Dollar and South African Rand) - The investor then gets a higher return on their funds.

When confidence in the global markets becomes shakey investors tend to unwind their carry trades and pull the funds back into perceived 'safer havens' hence these currency pairings tend to move slightly differently than others from time to time.

For an insight in to what is due out next week and how it may effect any upcoming currency transfers you may have then do feel free to get in touch with me directly on the email or contact number at the top of this page.


THIS IS A BRIEF SUMMARY OF TODAY'S REPORT - SHOULD YOU REQUIRE FURTHER INFORMATION PLEASE DO NOT HESITATE TO CONTACT ME EITHER BY EMAILING HERE Email Me - OR CLICKING ON THE BANNER BELOW TO SEE TODAY'S FULL REPORT I will ensure I get back to you as soon as possible to discuss the options available to you. Click here to read the full report on our main website

If you have the need to send money overseas or bring money into the U.K and want the best exchange rates and a great service just click on the links below to go straight to our main site and click on the register now button to open a free no obligation trading facility quoting DANIEL WRIGHT as your point of contact.

Have a great day and thanks for reading!

Daniel Wright

GBP AUD NZD Weakness continues

Sterling is still continuing to slide against the Australian Dollar and New Zealand Dollar this week hitting the lowest levels seen in a very long time.

At the time of writing this GBP - AUD was hovering above the 1.97 level and GBP - NZD just below 2.44.

It appears that Australia seem to have handled the global recession a lot better than many other economies alongside many investors continuing to partake in carry trading which always affects these currencies.

Carry trading is where an investor borrows money from an economy with a lower interest rate (USD, GBP, JPY) and invests it in an economy with a much higher interest rate (ZAR,AUD,NZD.

This is a brief summary of todays report. Click here to read the full report on our main website

If you are buying a property abroad, and want the best exchange rates, just click on the links below to go straight to our main site, or Email Me




Have a great day and thanks for reading!

Daniel Wright