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.

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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:

Pound Sterling strength - Gains for GBP against EUR SEK AUD NZD CAD CZK ZAR

The pound has started off the morning making gains against most major currencies and staying pretty much stable against the Dollar.

It appears confidence is slowly rising in the U.K and investors are once again willing to invest in the perceived 'Risky Pound'.

today is actually the final installment of Quantitative easing in the U.K and at present no further QE has been pencilied in - however be aware that following confirmation that the U.K is still well and truely in a recession there may be further QE announcements at next Thusday's Bank of England interest rate decision at 12:00.

The mere mention of more QE may lead to these gains dropping away, but then and again they may hold out for another month to see how things pan out with the current programme.

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

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Daniel Wright

Pound Sterling strength - forecast for today for GBP - EUR GBP - USD GBP - AUD GBP - NZD GBP - SEK GBP - CAD

Sterling has continued it's rally in early morning trading gaining ground against a basket of major currencies ahead of the retail sales data due out for the U.K at 09:30am.

Predictions are for a minor increase month on month and should we see this the Pound could gain further ground likewise worse than expected could lead to weakness.

There seems to be a 'feel good factor' with Sterling at the moment and even the usual figures that have been talking things down of late (Alistair Darling & Mervyn King) appear to have switched to the cup being half full as opposed to the half empty stance we have witnessed over the past few months - leading to the large losses we have seen.

It's a big day for the U.K tommorow as GDP (Gross Domestic Product) figures come out - This release should see the U.K officially out of a recession, which could lead to the ound capping the week off on a major high.... Obviously any release that differs from this could do quite the opposite and lead to large losses - it is certainly one to keep an eye on and comes out at 09:30am tommorow morning.

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
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Daniel Wright

Sterling hits 6 year low against a basket of currencies inclusive of EUR - Year lows against NOK and CAD

Following another rocky days trading for Sterling yesterday early morning screens today are still that depressing colour of red. A red screen generally means that the Pound has lost value against each particular currency and green screens mean a gain over the course of the day.

At the time of writing this we once again see red screens against USD, EUR, NZD, NOK, CHF and THB. Green screens in early morning trading are against the AUD and JPY.

This really has been and looks like it may continue to be a torrid time for Sterling in the short term and my personal opinion is that we are following the same pattern as last christmas... so may not see any real recovery until early next year... obviously anything can happen in a matter of hours on the markets let alone months but from someone that deals with this kind of thing day in day out things do not look too positive.

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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

Gordon Brown speaks - Pound loses further value against EUR USD AUD NZD CAD CHF

Prime minister Gordon Brown spoke today and following the usual pattern of Mr Brown, Alistair Darling or Mervyn King speaking Sterling has continued to lose value against a basket of major currencies over the course of the day.

Brown said that the Bank of England had his full support when it decides to halt the growth boosting Quantitative easing scheme however reversing this stimulus package too soon would "imperil the recovery".

The U.K is emerging from its deepest recession in decades at a snails pace as the initial scheme filters through the economy.

Any mentions of further QE or extensions of the QE program have tended to lead to Sterling weakness so Browns words may have been taken as negative for the Pound as it suggests the program may be dragged out further than originally expected, not good news for those of you with upcoming requirements to send funds overseas thats for sure.


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 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.

Have a great day and thanks for reading!

Daniel Wright

Sterling report ahead of key interest rate decision - Further quantitative easing to be announced?? Volatility expected against EUR USD AUD NZD + More

Sterling has stayed reasonably steady in early morning trading ahead of the U.K interest rate decision due out at 12:00pm. Also, we see the interest rate for the Euro Zone due at 12:45pm.

Although no rate changes are expected the Bank of England generally make annoucements on how they are to combat the current economic situation over here, and any mention of quantitative easing may have an effect on the market.

Should Mervyn King (Head of the BOE) announce that he will be pumping further money into the economy this could lead to (and has led to previously) Sterling weakness as this is seen as negative for the economy. Should Mr King say that the QE program is now over than this may lead to Sterling strength so the market today could go either way - it is really a coin toss unless you have a friend that is a member of the Monetary Policy committee!!!

This is a brief summary of todays report, should you wish to make a currency enquiry Email Me
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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
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Have a great day and thanks for reading!

Daniel Wright

Pound Sterling drops once again following poor manufacturing data - drops against EUR AUD NZD SEK DKK CHF CZK ZAR CAD JPY - Small gain on USD

This morning has seen Sterling once again start to falter against a basket of major currencies following much weaker than expected manufacturing data, however a house price release from Halifax came out slightly better than expected - so not all bad news for the U.K

Although the data released this morning was a mix of positive and negative the Pound has dropped by 0.40% against the Euro, 0.49% against the New Zealand Dollar, 0.36% against the Rand and 0.51% against the Swedish Kroner.

Sterling has also dropped against the Australian Dollar but this is mainly due to the Reserve Bank of Australia surprisingly raising interest rates by 0.25% to 3.25% overnight.

For those that aren't aware, an interest rate hike usually is seen as positive for the economy in question and a drop negative, as investors look to shift their funds into that currency for a better return.

The AUD and NZD may still strengthen off the back of this, as people may start to look at carry trading between Sterling and the currencies that are currently benefiting from higher interest rates.

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

Sterling continues minor gains following further positive data - gains on EUR USD JPY ZAR CZK losses against AUD and NZD

The Pound has continued it's minor fight back today in morning trading following another positive data release for the U.K economy.

Consumer confidence for September came out overnight and was much better than expected. A negative figure still is not great for the U.K economy and the figure came out at -16 however major analysts were actually predicting a figure of -24.

Markets move on rumour as well as fact so the -24 figure would have been initially priced into the market hence the fact when the figure came out much better Sterling gained some good ground in early morning trading.

At the time of writing this markets seem to have stabled, however over the course of the day further losses against the Australian Dollar and New Zealand Dollar have been seen.

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

Sterling weakness v eur, usd, aud, nzd, zar, dkk, sek, cad in early morning trading

Upon walking into the office this morning it is red screens accross the board for Sterling meaning the Pound has weakened against pretty much every major currency in early morning trading.

There is no major data releases of note that I can put this weakness down to at present, although German PPI (Producer Price Index) data came out a lot better than expected which may have led to Euro strength.

At the time of writing this post GBP - USD hit 1.6299 and GBP - EUR dropped to 1.1114 which is a huge drop from yesterday.

I will provide further updates once I have found out the reasons behind these losses, however should you have an upcoming transfer it may be prudent to get in touch sooner rather than later.

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

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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