The budget statement yesterday was pretty gloomy. With growth forecasts being revised down it looks like the UK is set for continued problems, this is highlighted quite substantially by the strikes today. Over 2m Public Sector workers will go on strike at protests against pension reforms as well as a wider protest at the lack [...]
Well it is the news story that just won’t go away.. the European Debt Crisis.. which is slowly becoming the global Debt Crisis.. The Organisation for Economic Cooperation and Development (OECD) yesterday warned of a Eurozone about to enter recession and also warned of the wider risks to the UK and the rest of the [...]
A bond auction this morning for Germany led to the Euro losing about half a cent against the pound. The bond auction was not fully subscribed which raised investors eyebrows. Germany has been seen as the rock in the sea of debt engulfing Eurozone countries. This makes clear to me that the crisis is only [...]
The GBPEUR rate has dipped by over two cents since the high of nearly 1.18 last week. This is because the immediate danger of the Euro crisis has abated as new Prime Ministers installed in Italy and Greece present the possibility of change, and because the ECB (European Central Bank) have been busy buying up [...]
When looking to make a large currency transfer the movement of exchange rates will alter the value of your exchange. With all the events in Europe you could be looking at 1-2% movement a day. Now this may not sound like much but if you are buying €300,000.00 for a property purchase, 2% movement on [...]
As a specialist currency broker for one of the UK’s leading currency brokerages I am very experienced in dealing with both private and corporate client’s currency requirements. What I am often asked is ‘what is going to happen?’ and in working with the client I am always keen to point out they should be realistic about [...]
In a not wholly suprising move the European Central Bank has cut the Eurozone Interest Rate to 1.25% from 1.5%. This 0.25% cut has given anyone still holding out for further gains from this week’s already extremely favourable movements that reason to trade. Monday morning the GBPEUR rate was at 1.1372, the high of 1.1691 touched [...]
So not even three business days from the Euro rescue deal and the Euro has weakened! Why is this and how long will it last? Well the underlying factor is investors really don’t have much faith in Eurozone leaders to really solve this crisis. The measures announced last week quite frankly don’t go far enough. [...]
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