Important week of data for the Pound - expect volatility for GBP against EUR USD SEK CHF CAD NZD AUD ZAR

Good morning all and I hope you had a great weekend.

Important week ahead on the data front for the U.K with a couple of key data releases that could set the tone for the month.

Today is generally looking rather quiet however in the first seconds of tommorow at 00:01pm with a double release starting with the BRC (British Retail Consortium) releases retail sales figures of which I personally think may be pretty badly hampered due to the weather conditions in January.

At exactly the same time we also have the RICS (Royal Institute of Chartered Surveyors) announce house price data.

Both of theses releases have the potential to cause major market movements overnight so make sure you have limit or stop orders in place should you have a trade to carry out.

U.K GDP estimate is next on Wednesday released by the NIESR (National Institute of Economic and Social research). Following last months figures annoucing we are out of a recession officially all eyes will be on this estimate and just how much the poor weather is believed to have knocked us back.

Also on Wednesday BOE governor Mervyn King speaks at 10:30am alongside presenting his BOE inflation letter - this could cause high volatility depending on what is mention for the U.K's economic plans going forward.

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.

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

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[09:07:23] Chris Knights:

Interest rate decision day for U.K and Euro Zone - Expect Sterling - Euro Volatility GBP EUR USD AUD NZD CHF CAD

A busy day ahead is expected on the currency markets for a basket of major currencies with two key interest rate decisions for both the U.K and the Euro Zone, alongside unemployment data for the U.S and a few releases of note for Canada.

The Bank Of England are first to step forward and release their interest rate decision at 12:00pm and although no change in rates are expected all eyes will be on whether or not the plan to draw a line under the Quantitative Easing plan which currently stands at £200Billion. There are a lot of major analysts and investors that believe that the plan has not worked so far so should the BOE not rule out continuing it we may see Sterling weakness.

Next is the European Central Bank at 12:45pm and once again no change in rates is expected however generally after the announcement president Jean Claude Trichet speaks about future economic policy so any mention of future rate hikes could still lead to volatility for the Euro.

Should you have a Pound to Euro transaction in either direction to make it may be prudent to get in touch with your account manager here at FCD this morning to discuss the many options available to you inclusive of forward contracts, limits and stop orders. If you do not already have an account open click here to open one right now – it’s free and carries no obligation to trade.

Following this decision at 13:30pm we see a flurry of U.S unemployment data which can cause a lot of volatility for the Dollar which has now been notably tipped to gain against the Pound in the coming months.

"Superior U.S. versus UK GDP growth differentials, UK election uncertainty and the risk of a UK ratings downgrade cast a dark cloud over the GBP/USD outlook for the next few weeks and months," said Kenneth Broux at Lloyds TSB.

With potential movements like this anyone with an upcoming USD or AED (pegged directly to the Dollar at a rate of 3.6725) transaction may want to seriously consider their options and by calling us on 0800 328 5884 you are one step ahead.
15:00pm brings PMI data for Canada which measures the general business conditions for the economy any change to what is expected could lead to medium market movements.

If you would like to discuss any of the information in this report and how it may affect your transfer do feel free to email me

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

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[09:07:23] Chris Knights:

Sterling weakness in early morning trading - losses against USD EUR JPY DKK CHF CAD small gains against SEK ZAR AUD NZD buy sell

This morning has seen Sterling lose ground against a basket of major currencies and also gained ground against the antipodean currecnies.... potentially down to carry trading which has once again become a major factor in the markets.

There is no major underlying factor I can see at present as to why the Pound has lost ground in general although the dust still may be settling from the GDP figures yesterday. Although they were not too bad and came out exactly as expected some investors may have gambled on figures coming out even better hence the losses.

Also, the news that big banks will have to declare how many of their U.K employees are earning over £1million - I personally think this is a stupid measure as it may eventually push financial institutions away from the U.K which in turn would not assist the economy at all........... We now have to rely on our financial sector and indeed the banks to make the U.K money as slowly but surely our manufacturing sector grinds to a halt and we no longer made anything!!

Today is thin on the ground data wise with nothing out for the U.K - although surprises do pop up all the time so it is always imperative you have someone watching the market so that you don't have to.

If you do have an upcoming transfer then feel free to contact me to discuss your options inclusive of forward contracts, stop and limit orders.

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.

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

U.K still in recession - Pound Sterling weakness against USD EUR SEK AUD NZD DKK - Pound Sterling GBP Forecast for the week ahead

The Pound had a terrible day on Friday following the unexpected official figures confirming that the U.K is well and truely still in a recession.

Most analysts had predicted that we would see growth of 0.20% over the last quarter however figures released actually confirmed that the economy contracted by 0.4% - a massive difference and as the markets move on rumour as well as fact Sterling instantly started to make losses against a basket of major currencies.

The markets would have previously factored in positive news and as soon as the information came out it once again led to the two steps forward then three steps back pattern the Pound has adopted this year.

I have previously in this report said and I will say again that I believe Sterling is currently undervalued however it will probably not be until at least the turn of the year before we see any marked improvement...

The Days ahead -

Monday

Today appears to be extremely quiet data wise however be aware of any unexpected announcements. German consumer confidence data came out first thing and was a little worse than expected which may lead to early Euro weakness.

Tuesday

Consumer confidence for the U.S is released in the afternoon & Washington in the evening alongside a minor bit of data out for the U.K first thing in the morning, expect volatility should either release be different than expected.

Wednesday

An inflation release in the first few minutes of Wednesday for Australia by means of CPI data, New home sales data in the afternoon for the U.S and a big one for the New Zealand Dollar late at night as they release their interest rate decision - will they go down the same route as Australia and hike rates?

For those of you that aren't aware an interest rate rise generally leads to positive movement for the currency concerned and a rate cut is generally negative as investors look to move their funds somewhere where they will achieve a higher return for their money.

Thursday

Half past one brings out some important information for the U.S as they release their GDP data confirming whether or not they are still stuck in a recession.

This data should lead to volatility on the markets for the Dollar and may well have a minor affect on Sterling as a well known saying on the markets is that when the U.S sneezes the U.K catches a cold so it may well indicate what is to come over here.

In short, yet another volatile week ahead and reasonably quiet data wise for the U.K however anything may pop up over the course of the week and investors will more than likely still have the R word for the U.K ringing in their head which could lead to further weakness.

This is a brief summary of todays report, should you wish to know more email me directly or click below to read the latest update on our website. Email Me
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

Pound sterling weakness in early morning trading after GBP - USD hit 4 week high - losses against EUR USD AUD CAD CHF SEK

Sterling has made small losses in early morning trading and indeed started to lose the ground gained at the back end of last week in late trading yesterday.

The Bank of England seem to have mixed views on how the current Quantitative easing programme is working out... as was well publicised and led to big gains last week BOE member Paul Fisher believes things are working it we may be set to draw a line under the QE programme however yesterday fellow member Adam Posen also a BOE policy maker told the Sunday Times in an interview that he believes the central bank should continue the QE because the financial system is yet to recover.

Any mention of further QE over the past 6 months has generally led to Sterling weakness so be vigilant for any announcements before the BOE minutes tommoror which could lead to large market movements dependant on comments.

This is a brief summary of todays report, should you wish to know more email me directly or click bolw to read the latest update on our website. Email Me
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

Mixed news for Sterling overnight Pound holding steady against most major currencies EUR, AUD, USD, NZD, SEK, JPY, ZAR, CAD, MAD, CHF

Upcoming transfers - Do you want the good news or the bad news????

Overnight saw two important releases for the U.K by means of the consumer confidence figures and the revised GDP estimate for the U.K by the NIESR.

Consumer confidence came out positively rising to 71 from a predicted figure of 68. The data is measured on a level of 50 and any release higher than 50 is seen as good for the U.K and lower than 50 shows a negative on confidence so this release was good news for once in this miserable market we find ourselves in.

The bad news is that the NIESR (National Institute for Economic and Social Research) have now predicted there will be no change in GDP figures due to come out on 23/10/09 which suggests that the economy has shown no growth in the last quarter, analysts had been predicting a minor improvement.

GDP figures are a measure of whether or not the economy as a whole has grown in each quarter, two negative releases in a row means the economy is officially in a recession and then it requires a figure of 0% or positive growth to officially come out of one.

Hopefully this will mean the U.K may officailly be out of the recession come the end of the month, however looking at recent data we still have a long long way to go before things become rosy again, and with Australia and other economies seemingly strong the Pound may well still get worse before it gets any better.



This is a brief summary of todays report, should you wish to make a currency enquiry Email Me
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

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Have a great day and thanks for reading!

Daniel Wright

Sterling Report and Forecast October 2009 against EUR AUD NZD ZAR CAD DKK CHF THB CZK DKK SEK Is Sterling - Euro Parity possible??

Folowing a poor month for Sterling on a trade weighted basis many clients with upcoming requirements to send money overseas may be hoping for better news throughout the month of October.

The first data release of the month suggests we could be potentially looking at quite the opposite as PMI (Purchasing Managers Index) for the U.K came out worse than expected - in fact although analysts had predicted an increase it actually contracted further from last months release.

The same data was also released for the Euro Zone and typically theirs came out better than expected, although this has not had a major effect on the markets it does not get the month off to a great start.

Many analysts are talking about the possibility of parity against the Euro within this quarter, and with the Bank of England and the media seemingly happy to talk the pound down, alongside the Government looking shaky at present.

There are four factors that effect the value of a currency being economic stability, political certainty, acts of terror and acts of god. Obviously there isn't a huge amount we can do about the second two, but looking at our current economic and political situations it is quite clear that Sterling may be in for a rocky ride in the short term.

Obviously a lot can change in the currency markets in a matter of hours let alone weeks or months, so quite clearly this current view may change so be sure to keep a close eye on updates on my blog should you have transactions to make.

This is a brief summary of todays report, should you wish to make a currency enquiry Email Me
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 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

Sterling strength against most major currencies - EUR AUD USD DKK NZD CHF CAD ZAR THB

Today has certainly been a lot more refreshing for my clients that have upcoming transfer from Sterling to other currencies, as today Sterling has actually gained ground against a basket of major currencies.

This appears to be down to a CBI (Confederation of British Industry) Distributive Trades Survey. The CBI is an indicator of short term trends within the U.K retail and wholesale distributive sector. A high reading is seen as positive and a low reading negative for the Pound, and although predicted ato come out as -15 the level actually came out at 3 - Much better than expected!!

This may only be a short term spike as mentioned in previous posts it appears that our Government, Central bank and media all seem set on pushing the Pound back down to lower levels, however there are many surprises on the markets these days so further positive news like this and one would imagine Sterling will be making a solo fightback.

This is a brief summary of todays report, should you wish to make a currency enquiry Email Me
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 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

GBP EUR GBP USD GBP AUD GBP ZAR Sterling to make small recovery this week as confidence among business professionals grows???

Overnight has seen a release from the Institute of Chartered Accountants confirming that business confidence had risen to 4.8 for the end of June, compared to -28.2 at the end of March... A marked improvement to say the least and potentialy siogns that the U.K is creeping out and may indeed already be out of the recession - although not officially.

Although this news may be seen as extremely positive to the naked eye Chief Executive Michael Izza warned against "underestimating" the challenges ahead for businesses.

Still, overall I personally believe this is yet again a better release for the Pound and further proof that we are slightly undervalued at present, although it may be the case that we get a little worse before we get better, it's just a case of when the turnaround begins.

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

Pound sterling weakness against Dollar and gains minor ground on Euro

Sterling finished off Friday's trading down by 0.6% against the Dollar following the release of non farm payrolls data in the states.

The figures actually came out better than expected which led to Dollar strength throughout the rest of the days trading.

The Non Farm Payrolls data covers the movement in the amount of people employed in non agricultural jobs over there and although it had dropped by 247,000 this was actually the lowest drop since August last year and as mentioned a lot better than most analysts had predicted.

Sterling saw a swing against the Euro on Friday as well starting the day off dropping away yet ending the days trading up by 0.4%.

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