FindCurrency.com

By James Matthews

The Pound saw a staggering drop yesterday when Posen stated he felt we would need more Quantative Easing. This highlights the importance of staying in close contact with your Currency broker and how immediate drops can be seen with unexpected news.

Whilst the Pound has lost ground against most currencies of late we have maintained ground against the US Dollar which seems to be losing it’s reputation as a Safe Haven currency in these uncertain times, with the Yen and the Swiss Franc showing significantly more strength.

I would expect the Pound to show weakness during the run-up to Christmas and wouldn’t be surprised to see the GBP / USD rate fall. With the rate currently pushing toward the 1.60s this is a very attractive time to buy and may not be worth risking on Annual US GDP figures – due tomorrow and could radically effect the market.

If you do want to look at protecting your rate, either with a Spot Contract today or with a Forward contract for a future requirement contact me on FREEPHONE 0800 328 5884 or email me at jfm@currencies.co.uk.

By James Matthews

The Sterling Dollar rate opened at 1.5823 today, and whilst the Pound is up against most currencies it has already lost 0.2% against the Dollar.

With UK GDP figures to be released at 9.30 the tone will be set for the day as the Pound is likely to see across the board gains or losses.

US Consumer Confidence and Home Price Indices are set to follow the UK data and could further move the market. After a relatively quiet start to the week I wouldn’t be surprised to see the market kick-started with some volatile movements today.

With poor Sterling figures out of late, a worse than expected GDP figure could be very worrying for what can only be described as a delicate Pound at present. With the global economy in a difficult position it is vital you keep in close contact with your Currency Broker in order to try and make the most out of your Currency Transfer.

By James Matthews

Today could be a fairly quiet start to what could be another volatile week with big data releases for all of the covered currencies on this site.

UK GDP figures are due out at 9.30 a.m. tomorrow morning and should be the main driver for the Pound this week. A strong GDP figure for the UK should see the Pound break through a three month high against the US Dollar and into the 1.60s.

Similarly Canadian GDP is released at 13.30 on Thursday and we can expect a similar impact to the UK figures to move the Canadian markets.

Perhaps most importantly this week, US Annualized GDP figures are due out 13.30 on Thursday and are likely to move the US Dollar market significantly. GDP is generally measured quarterly and so these figures are likely to be more accurate than the Canadian and UK figures, which are monthly. Expect a strong figure to rally the Dollar against early week losses, or a worse than expected figure to trigger a potentially very attractive buying opportunity.

If you are looking at buying any of these currencies this week keep a close eye on these Data Releases, or to cover yourself from any of these movements lock in a forward contract now. Contact me on FREEPHONE 0800 328 5884 or jfm@currencies.co.uk.

By James Matthews

US Home Sales data is released at 15.00 BST today, and could cause considerable market movement on what has so far been a fairly static day for the GBP / USD pairing.

Traditionally America has relied upon the housing market to drive them out of recessions in the past, and although that looks unlikely this time round if these figures deviate from what are expected I would think it is likely to cause considerable market movement. Figures are expected to show a large improvement, from a 12.4% decrease last month to a near 7% increase this month.

Personally I could see these figures being slightly optimistic and wouldn’t be surprised if they are released to show a lower growth than 7%. As always with the Dollar though these figures may be interpreted as a sign of the World Economy and could cause a flight to safety effect, in which case investment in the Pound is likely to grind to a sudden short term halt.

Also keep an eye on US Durable Goods Data that preceeds the House Sales figures at 13.30 BST that could incite considerable movement on any US Dollar trade.

Keep in contact with your Currency Broker to ensure you are not risking your transfer by waiting until after this Data Release, or email me at jfm@currencies.co.uk.

By James Matthews

With Britain facing it’s most severe austerity measures in recent times it is very possible that the Pound is going to fall over the short to medium term.

The budget cuts are proposed to come in on the 20th October and with Dollar rates nearly pushing in to 1.57 it may prove a very attractive time to buy Dollars, along with many of the other major currencies. Sterling has held it’s own against the Dollar and against the Loonie, compared at least to the Euro which has slipped into the 1.17s for the first time and hit a 4 month before the end of play yesterday.

I would expect Sterling to drop across the board before Christmas and whilst levels remain high against the Dollar and respectable against the majority of other currencies it seems to be a very attractive time to look at selling your Sterling.

If you have specific requirements, get in touch with a Currency Broker to discuss the best way to save you the most money. Call on our FREEPHONE number 0800 328 5884 or email me jfm@currencies.co.uk for bespoke correspondence on your requirement.