Showing posts from August, 2013

How to get the best Pound/Euro exchange rates

Wednesday 21st August 2013 
Good afternoon everybody. Pound/Euro rates have steadied since my last post, and remain a little above the €1.17 level. Against the Dollar, Sterling sits just under $1.57. This is around 2 month highs in both cases. In today’s post I will look at how recent economic releases have affected exchange rates, and whether Pound/Euro rates are likely to go up or down in the coming weeks. In today’s report: 
UK Public Sector borrowing worse than expected, but Pound remains strongGreece may need another bailout, how would this affect GBP/EUR? Growth forecasts are increased for the UK, supporting Sterling US Fed minutes this evening may affect exchange rates Getting the best exchange ratesUK borrowing disappoints, but Pound remains strong

I’m going to start in the UK today. This morning we saw the latest Public Sector borrowing figures, and they were actually quite a bit worse than expected. Despite the numbers disappointing, Sterling has not weakened, and in fact has r…

Pound/Euro at 2 month high following unemployment figures

Wednesday 14th August 2013 
Good afternoon everyone. Since my last post, Sterling has continued to make gains, helped by strong unemployment figures this morning. In today’s report I’ll have a look at this which has caused the gains for the Pound, the latest news that the EU has emerged from recession after 18 months, and what the latest Bank of England minutes mean for exchange rates in the short to medium term. 

So in today’s report: 
Strong Unemployment figures cause Pound to rise Pound/Euro at 2 month high EU exits recession after 18 months, but Euro fails to strengthen Latest minutes from the Bank of England’s Monetary Policy Committee Data for the next 7 days that may affect exchange rates 
Strong Unemployment figures cause Pound to rise 

The latest UK unemployment figures were released this morning, they made good reading and the Pound has risen as a result. While unemployment held steady, which had been expected, the outlook was much brighter, as the number of people looking for w…

Sterling surges higher as Mark Carney issues Forward Guidance

Wednesday 7th August 2013 
Good afternoon. Today has been extremely volatile on the currency markets with Sterling surging higher against other currencies. The new Bank of England governor Mark Carney addressed Parliament and delivered his Quarterly inflation report. 

After months of decline for Sterling, the Pound has surged against other currencies today, so in my post this afternoon I will analyse what he said, the impact on the economy, why it caused exchange rates to rise, and what this means for exchange rates going forwards. 

‘Forward Guidance’ from the Bank of England 

The new Bank of England (BoE) governor Mark Carney today addressed parliament, giving his quarterly inflation report, his first since taking over the helm last month. It was already widely expected he would outline his new policy of ‘Forward Guidance’ and indicate that interest rates would remain low for some time. 

How did it affect exchange rates? 

As you can clearly see from the chart, when the speech started at 10…