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Showing posts from May, 2013

Pound falls after growth forecasts revised

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Wednesday 19th May 2013 
Good afternoon, and I hope everyone enjoyed the extended bank holiday break. The markets re-opened yesterday but it was pretty flat. Today has been busier and we have seen the Pound/Euro rate drop today after a cut to UK growth forecasts. In today’s post I will take a look at this, and also the increasing threat of more Quantitative Easing in the UK that could weaken the Pound further. 

In today’s report: 
OECD cuts UK economic growth forecasts Poor UK data increases chance of more QE Central banks in currency war to devalue currencies How to protect against adverse rate movements OECD cuts UK economic growth forecasts 

Today we have seen Sterling drop sharply against the Euro, after a leading economic think tank has forecast that Britain's economy will grow at a much slower pace than expected. The reasons were given as spending cuts and a lack of consumer and business confidence restrict the recovery. 

In its 6 monthly forecast, the Organisation for Economic C…

BoE upgrade UK growth forecasts / Currency Forecast

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Thursday 16th May 2013 
Good afternoon. Sterling Exchange rates remain fairly stable, with GBP/EUR sat just above €1.18 and GBP/USD around $1.5250 at the time of writing. The Pound is being supported by robust UK data, including the upgraded economic growth forecasts for the UK. This is what I’ll be looking at in today’s report, along with an outline of the types of contract I can offer to help you get the best exchange rates. 

If you are looking for the best exchange rates, or are trying to work out whether the Pound will go up or down against the Euro or any other currency, then read on below. You can also have a free consultation on your particular requirements by clicking here.

Bank of England upgrades growth forecasts

The Bank of England yesterday upgraded its economic growth forecast, with the Governor Mervyn King saying that "a recovery is in sight". He also said that the projections are for growth to be a little stronger and inflation a little weaker than they expected t…

Decent UK data keep Sterling supported

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Friday 10th May 2013
Good morning. Sterling remains supported at relatively high levels against the Euro, close to the best in around 3 months. Against the Dollar however, the Pound has fallen due to a strengthening of the US currency.

All in all, the UK economy has posted some decent figures this week, which has helped the Pound remain buoyant against other currencies, and has also influenced the decision this week by the Bank of England to keep interest rate and QE on hold. So what do I have in store for you today?
UK industrial and manufacturing figures better than expected Bank of England leaves interest rates and QE on hold US Dollar gains strength, pushing GBP/USD rates lower. How Stop Loss orders can help you achieve the best exchange rates UK economic figures better than expected, boosting Sterling

We had several UK released this week that impressed the markets, and this has helped the Pound stay relatively strong against the Euro and other currencies. We had UK industrial and…

Interest Rates moving the currency markets

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Tuesday 7th May 2013  Good afternoon. It’s been a week since my last post which focused on the UK’s stronger than expected growth figures. Since then, the markets have been anything but quiet with an interest rate cut in the Eurozone and Australia weakening their respective currencies. In today’s report I’ll take a look at the effect of these rate cuts on exchange rates, and also what else I would be looking out for this week if I needed to convert currency. So, in Today’s report:  European Central Bank cut interest rates, pushing GBP/EUR up Australia also cuts rates, weakening Australian Dollar Bank of England to meet this week to discuss Interest rates and QE Strategies to help you achieve great exchange rates European Central Bank cut interest rates 
Last week the European Central Bank (ECB) cut its interest rate from 0.75% to 0.5%. As I pointed out in my last post, there was always the risk of a cut and my prediction of this cut weakening the Euro proved to be true. In fact, the cut i…