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Posted October 28th, 2005 by Charles Purdy

Weekly Currency Note: 28th October 2005

Dear Charles,

Weekly currency note: 28th October 2005

Overview

No major moves in the market. Sterling lost slightly
against the Euro and gained a bit against the US$.
Waiting for some real direction. What will be the
catalyst is hard to tell but I feel as if the next
moves could be significant. Which way is impossible
to say.

Why is currency management so important?

We recently got a testimonial from a client who
stated that she had saved £5,000 from using our
services when compared to the bank. This surprised
even me. Just shows you what can be achieved if you
spend a bit of time thinking about your currency
requirements.

We have developed a short document which has helped
a number of clients to determine their requirements
more clearly. If you would like to find out more
please give me a ring on 020 7903 5275.

Open an account today by calling me on 0870 285 0364
or fill out our online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The Euro vs. the £

The Euro started the week at 1.477ish and is currently
1.470ish. Sterling had gained 2 cents in the previous
two weeks and has now given half of it back.

Talk is of increased interest rates in Euro land with
the great fear being inflation. Also some of the
economic figures coming out off Euro land have been
more encouraging.

There has been no clear trend in the Euro/sterling
exchange rate for the last few months – just a broad
trading range of 1.44 to 1.50. This range seems to have
become even more constrained in the last few weeks with
the range being limited to 1.46 to 1.485.

We need some sort of catalyst to get us out of this
malaise. What that will be is hard to guess but I
suspect when it happens the move will be both quick
and significant.

Just so you know, currencies such as the Cypriot £
and the Hungarian Forint, which are planning to move
to the Euro in due course, are closely aligned to the
Euro. Therefore they tend to “track” the Euro. Sometimes
they do have a life of their own but they do tend to
come back into line sooner rather than later.

If you need to BUY or SELL EUROS now is a good time to
discuss your options, so call me on 0870 285 0364 or
fill out our online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The US$ vs. the £

Last week it was 1.761.It is now 1.774. The period of
consolidation continues. A slight weakening in the US$
but as with the Euro no real direction.

Further interest rate increases are expected further
supporting the US$.

US$1.73ish is a key level and we wait to see if it can
breach this level and strengthen further, stabilise at
this sort of level or begin to weaken as other fundamentals
[i.e. the twin deficits] take control.

My inclination is still for further strengthening in the
US$ but I could be very wrong.

The Dirham and the US$ are closely tied. Therefore as the
US$ moves so does the Dirham.

If you need to BUY or SELL USD, call me on 0870 285 0364
to discuss your options or fill out our online quotation
form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The Aus $ vs. the £

The Aus$ has weakened slightly over the week from 2.36 to
2.365ish but overall the Aus $ is in a strengthening trend.
The Aus $ will, however, I suspect take its lead from
the US$.

The Aus$ hit a high of 2.27ish late July. Having hit 2.40
a few weeks ago it is retesting the July level. We wait to
see if it is able to strengthen even further and beat the
July high.

If you need to BUY or SELL Australian Dollars, call me on
0870 285 0364 to discuss your options or or fill out our
online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The Can$ vs. the £

The Can$ was 2.09 at the start of the week to 2.09 at the end.
Very little action.

The Can$ is very strong at the moment. Justifiably so as the
economy seems to be booming and its commodities are in much
demand [and I talk to a lot of people who are emigrating to
Canada]. Interest rates may be increased to combat inflation
lending further support to the Can$.

The current level “is very significant” and for the Can$ to
strengthen further will take some effort. However, if it does
so then we could see a very rapid appreciation.

History would still favour a return in the Can$ to 2.20 plus
but timescales are difficult if not impossible to estimate!

If you need to BUY or SELL Canadian Dollars, call me on
0870 285 0364 to discuss your options or fill out our online
quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

If you would like to discuss a currency not mentioned in this
note, the latest movements, secure an exchange rate or discuss
your particular situation, please feel free to contact me on
0870 285 0364

Lastly, we’re always working to improve the service provided by
Smart Currency Exchange, so if I can produce information in a
better format or make it easier to understand, of if you want
me to clarify what a particular term means, please send me
your questions, suggestions
and/or comments to Charles@SmartCurrencyExchange.com

Think Smart,

Charles Purdy
Director

Phone: 0870 285 0364
Fax: 0870 285 0365
http://www.SmartCurrencyExchange.com

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
“The UK’s 1st (and Only) Currency Exchange Service Dedicated
Exclusively to Overseas Property Buyers”

To get your complimentary reports go to:
www.SmartCurrencyExchange.com/freereport.htm
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Disclaimer

As ever these are my musing as to how I see the various markets
going. They should not be taken as fact. The market does what
it wants to do. I have no crystal ball and as ever I recommend
that if an exchange rate works for your budget then don’t try
and wait for an even better exchange rate, as Murphy’s Law says
the rate will go against you and cause you maximum pain!

If you no longer wish to receive communication from us:
http://autocontactor.com/app/r.asp?ID=46056571&ARID=120377

To update your contact information:
http://autocontactor.com/app/r.asp?c=1&ID=46056571

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Posted October 21st, 2005 by Charles Purdy

Weekly Currency Note: 21st October 2005

Dear Charles,

Weekly currency note: 21st October 2005

Overview

Sterling continued to strengthen against the Euro and
consolidate against the US$. Interest rate cuts are not
a foregone conclusion here in the UK and Euro land is
still suffering poor economic growth. The US will continue
to raise interest rates as the fear is rising inflation.

Why is currency management so important?

If you had bought US$100,000 a month ago at 1.85ish it
would have cost you £54,054. If you bought it today it
would cost you nearly £3,000 more.

What else could you have done with that £3,000? It pays
for a lot of flights to the US.

And it isn’t difficult to secure the preferential exchange
rate. If you know what you require and have a reasonable
feel of the timescales in which you will need those funds,
we would be able to use a forward contract to secure the
exchange rate.

This removes all the risk, the stress and the strain. You
know exactly what amount you need in sterling. The figure
will not change. No more sleepless nights.

Open an account today by calling me on 0870 285 0364 or
fill out our online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The Euro vs. the £

The Euro started the week at 1.464ish and is currently
1.477ish. Sterling has gained 2 cents in the last two weeks.

Two factors were catalysts for last weeks gain in sterling.
The first was the announcement of poor economic performance
in Germany. The second were the minutes of the last Bank of
England meeting from which it was clear that further interest
rate cuts are not currently on the agenda.

There has been no clear trend in the Euro/sterling exchange
rate for the last few months – just a broad trading range of
1.44 to 1.50.

I would be surprised [and I have been surprised before many
times] if the current strengthening of sterling against the
Euro had much further to travel. One thing that could
undermine this thought process is if the Euro weakened
significantly against the US$.

May be a good time to buy those Euros.

Just so you know, currencies such as the Cypriot £ and the
Hungarian Forint, which are planning to move to the Euro in
due course, are closely aligned to the Euro. Therefore they
tend to “track” the Euro. Sometimes they do have a life of
their own but they do tend to come back into line sooner
rather than later.

If you need to BUY or SELL EUROS now is a good time to discuss
your options, so call me on 0870 285 0364 or fill out our online
quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The US$ vs. the £

Last week it was 1.769.It is now 1.761. The period of
consolidation continues.

Further interest rate increases are expected further supporting
the US$. We are still waiting to see what happens next.
The Euro/US$ exchange rate could have a major affect on the
sterling/US$ exchange rate.

US$1.73ish is a key level and we wait to see if it can breach
this level and strengthen further, stabilise at this sort of
level or begin to weaken as other fundamentals [i.e. the twin
deficits] take control.

My inclination is still for further strengthening in the US$ and
if the Euro weakens significantly against the US$ this could
happen very quickly.

The Dirham and the US$ are closely tied. Therefore as the US$ moves
so does the Dirham.

If you need to BUY or SELL USD, call me on 0870 285 0364 to discuss
your options or fill out our online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The Aus $ vs. the £

The Aus$ has weakened slightly over the week from 2.35 to 2.36ish
but overall the Aus $ is in a strengthening trend. The Aus $ will
I suspect take its lead from the US$.

The Aus$ hit a high of 2.27ish late July. Having hit 2.40 a few
weeks ago it is retesting the July level. We wait to see if it is
able to strengthen even further and beat the July high.

If you need to BUY or SELL Australian Dollars, call me
on 0870 285 0364 to discuss your options or or fill out
our online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The Can$ vs. the £

The Can$ moved from 2.10 at the start of the week to 2.09 at the end.

The Can$ is very strong at the moment. Justifiably so as the economy
seems to be booming and its commodities are in much demand [and I talk
to a lot of people who are emigrating to Canada]. Interest rates may be
increased to combat inflation lending further support to the Can$.

The current level “is very significant” and for the Can$ to strengthen
further will take some effort. However, if it does so then we could
see a very rapid appreciation.

History would still favour a return in the Can$ to 2.20 plus but
timescales are difficult if not impossible to estimate!

If you need to BUY or SELL Canadian Dollars, call me on 0870 285 0364
to discuss your options or fill out our online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

If you would like to discuss a currency not mentioned in this note,
the latest movements, secure an exchange rate or discuss your
particular situation, please feel free to contact me on 0870 285 0364

Lastly, we’re always working to improve the service provided by Smart
Currency Exchange, so if I can produce information in a better format
or make it easier to understand, of if you want me to clarify what a
particular term means, please send me your questions, suggestions
and/or comments to Charles@SmartCurrencyExchange.com

Think Smart,

Charles Purdy
Director

Phone: 0870 285 0364
Fax: 0870 285 0365
http://www.SmartCurrencyExchange.com

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
“The UK’s 1st (and Only) Currency Exchange Service Dedicated
Exclusively to Overseas Property Buyers”

To get your complimentary reports go to:
www.SmartCurrencyExchange.com/freereport.htm
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Disclaimer

As ever these are my musing as to how I see the various markets going.

Posted October 14th, 2005 by Charles Purdy

Weekly Currency Note: 14th October 2005

Dear Charles,

Weekly currency note: 14th October 2005

Overview

A period of consolidation with sterling making slight
gains during the week. We wait to see if sterling can
make further advances. Inflation versus economic downturn
is the conundrum that policy makers in different countries
are trying to deal with. Which is the greater danger? As
ever, time will tell.

Why is currency management so important?

Another horror story from a new client. He got taken to the
cleaners by his high street bank. He was purchasing in local
currency the equivalent of £50,000 and effectively paid 5%
more than he needed to. In simple terms he “lost” £2,500
which probably made a nice commission for the bank manager.

Open an account today by calling me on 0870 285 0364 or fill
out our online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The Euro vs. the £

The Euro started the week at 1.453ish and is currently 1.464ish.
A slight rebound in Sterling although it did spend a lot of
time under 1.46.

Even more poor UK economic data was announced during the week.
However, the Bank of England is still circumspect when talking
about possible interest rate cuts given the spectre of
increasing inflation.

Inflation is also increasing in Euro land which raises the
very real possibility of higher interest rates from the current
2% bank rate.

There has been no clear trend in the Euro/sterling exchange rate
for the last few months – just a broad trading range of 1.44 to
1.50. We are currently in the bottom half of this trading range
with the Euro having the upper hand. If time allows you, you
should try and secure an exchange rate if buying Euros in the
top half and if selling Euros in the bottom half.

Just so you know, currencies such as the Cypriot £ and the
Hungarian Forint, which are planning to move to the Euro in
due course, are closely aligned to the Euro. Therefore they
tend to “track” the Euro. Sometimes they do have a life of
their own but they do tend to come back into line sooner
rather than later.

If you need to BUY or SELL EUROS now is a good time to discuss
your options, so call me on 0870 285 0364 or fill out our online
quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The US$ vs. the £

Last week it was 1.761.It is now 1.769. A period of consolidation.

The US economy does not seem to have been unduly affected by
Hurricane Katrina and inflation seems to be the major concern.
Further interest rate increases are expected further supporting
the US$.

US$1.73ish is a key level and we wait to see if it can breach
this level and strengthen further, stabilise at this sort of
level or begin to weaken as other fundamentals [i.e. the twin
deficits take control].

The Dirham and the US$ are closely tied. Therefore as the US$
moves so does the Dirham.

If you need to BUY or SELL USD, call me on 0870 285 0364 to
discuss your options or fill out our online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The Aus $ vs. the £

The Aus$ has weakened slightly over the week from 2.32 to 2.35ish
but overall the Aus $ is in a strengthening trend.

The Aus$ hit a high of 2.27ish late July. Having hit 2.40 a few
weeks ago it is retesting the July level. We wait to see if it
is able to strengthen even further and beat the July high.

If you need to BUY or SELL Australian Dollars, call me on
0870 285 0364 to discuss your options or or fill out our online
quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The Can$ vs. the £

The Can$ moved from 2.065 at the start of the week to 2.10 at the
end. The Can$ is very strong at the moment. Justifiably so as the
economy seems to be booming and its commodities are in much demand
[and I talk to a lot of people who are emigrating to Canada].

Over the last few months the Can$ has strengthened by 10% plus.
At the end of April it was 2.35ish. The current level “is very
significant” and for the Can$ to strengthen further will take some
effort. However, if it does so then we could see a very rapid
appreciation.

History would still favour a return in the Can$ to 2.20 plus but
timescales are difficult if not impossible to estimate!

If you need to BUY or SELL Canadian Dollars, call me on
0870 285 0364 to discuss your options or fill out our online
quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

If you would like to discuss a currency not mentioned in this note,
the latest movements, secure an exchange rate or discuss your
particular situation, please feel free to contact me on 0870 285 0364

Lastly, we’re always working to improve the service provided by
Smart Currency Exchange, so if I can produce information in a
better format or make it easier to understand, of if you want
me to clarify what a particular term means, please send me your
questions, suggestions and/or
comments to Charles@SmartCurrencyExchange.com

Think Smart,

Charles Purdy
Director

Phone: 0870 285 0364
Fax: 0870 285 0365
http://www.SmartCurrencyExchange.com

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
“The UK’s 1st (and Only) Currency Exchange Service Dedicated
Exclusively to Overseas Property Buyers”

To get your complimentary reports go to:
www.SmartCurrencyExchange.com/freereport.htm
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Disclaimer

As ever these are my musing as to how I see the various
markets going. They should not be taken as fact. The market
does what it wants to do. I have no crystal ball and as ever
I recommend that if an exchange rate works for your budget
then don’t try and wait for an even better exchange rate,
as Murphy’s Law says the rate will go against you and cause
you maximum pain!

If you no longer wish to receive communication from us:
http://autocontactor.com/app/r.asp?ID=46056571&ARID=120377

To update your contact information:
http://autocontactor.com/app/r.asp?c=1&ID=46056571

Posted October 7th, 2005 by Charles Purdy

Weekly Currency Update: 10th October 2005

Dear Charles,

Weekly currency note: 7th October 2005

Overview

The Euro has continued to strengthen against sterling
while the US$ has seen minimal movement especially
when compared to the major moves in the US$ over the
last month. The Bank of England minutes painted a poor
outlook for the UK whereas Euro land and the US fear
inflation.

Why is currency management so important?

If you had bought 200,000 euros three weeks ago at 1.48ish
it would have cost you £135,135. If you bought it today it
would cost you nearly £3,500 more.

What else could you have done with that £3,500?

As always I think the key is to work to a realistic budget
price and when this budget rate presents itself secure it
either through an immediate purchase of the currency or
through a forward contract [please call to discuss this
option if you are unclear as to what this means].

This removes all the risk, the stress and the strain.
You know exactly what amount you need in sterling. The
figure will not change. No more sleepless nights.

Open an account today by calling me on 0870 285 0364 or
fill out our online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The Euro vs. the £

The Euro started the week at 1.467ish and is currently
1.453ish. The Euro has strengthened 2.5 cents in the
last two weeks.

Poor UK economic data has further highlighted the
uncertain state of the UK economy. This has raised
[and substantiated to some extent by the Bank of
England minutes from their last meeting] in the mind
of the market the possibility of reduced interest rates
here in the UK.

Inflation is increasing in Euro land which raises the
very real spectre of higher interest rates from the
current 2% bank rate.

Inflation is still a major problem here in the UK and
I believe there is an equal chance of the BOE raising
interest rates in the medium term as we do of them
reducing interest rates.

There has been no clear trend in the Euro/sterling exchange
rate for the last few months – just a broad trading range
of 1.44 to 1.50. We are currently in the bottom half of
this trading range with the Euro having the upper hand.
If time allows you, you should try and secure an exchange
rate if buying Euros in the top half and if selling Euros
in the bottom half.

Just so you know, currencies such as the Cypriot £ and
the Hungarian Forint, which are planning to move to the
Euro in due course, are closely aligned to the Euro.
Therefore they tend to “track” the Euro. Sometimes they
do have a life of their own but they do tend to come back
into line sooner rather than later.

If you need to BUY or SELL EUROS now is a good time to
discuss your options, so call me on 0870 285 0364 or fill
out our online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The US$ vs. the £

Last week it was 1.766. It is now 1.761. Movement has
been minimal when compared to the rest of the period
post Hurricane Katrina.

The US economy does not seem to have been unduly affected
by Hurricane Katrina and inflation seems to be the major
concern. Further interest rate increases are expected
further supporting the US$.

US$1.73ish is a key level and we wait to see if it can
breach this level and strengthen further, stabilise at
this sort of level or begin to weaken as other fundamentals
[i.e. the twin deficits take control].

The Dirham and the US$ are closely tied. Therefore as the
US$ moves so does the Dirham.

If you need to BUY or SELL USD, call me on 0870 285 0364
to discuss your options or fill out our online quotation
form at: http://www.smartcurrencyexchange.com/smartquotation.htm

The Aus $ vs. the £

The Aus$ has weakened slightly over the week from 2.31 to
2.32 but overall the Aus $ is in a strengthening trend.

The Aus$ hit a high of 2.27ish late July. Having hit 2.40
a few weeks ago it is retesting the July level. We wait to
see if it is able to strengthen even further and beat
the July high.

If you need to BUY or SELL Australian Dollars, call me on
0870 285 0364 to discuss your options or or fill out our
online quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

The Can$ vs. the £

The Can$ moved from 2.05 at the start of the week to 2.065
at the end. The Can$ is very strong at the moment.
Justifiably so as the economy seems to be booming and its
commodities are in much demand [and I talk to a lot of
people who are emigrating to Canada].

Over the last few months the Can$ has strengthened by 10%
plus. At the end of April it was 2.35ish. The current level
“is very significant” and for the Can$ to strengthen further
will take some effort. However, if it does so then we could
see a very rapid appreciation.

History would still favour a return in the Can$ to 2.20 plus
but timescales are difficult if not impossible to estimate!

If you need to BUY or SELL Canadian Dollars, call me on
0870 285 0364 to discuss your options or fill out our online
quotation form
at: http://www.smartcurrencyexchange.com/smartquotation.htm

If you would like to discuss a currency not mentioned in this
note, the latest movements, secure an exchange rate or discuss
your particular situation, please feel free to contact me
on 0870 285 0364

Lastly, we’re always working to improve the service provided
by Smart Currency Exchange, so if I can produce information
in a better format or make it easier to understand, of if you
want me to clarify what a particular term means, please send
me your questions, suggestions and/or comments to
Charles@SmartCurrencyExchange.com

Think Smart,

Charles Purdy
Director

Phone: 0870 285 0364
Fax: 0870 285 0365
http://www.SmartCurrencyExchange.com

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
“The UK’s 1st (and Only) Currency Exchange Service Dedicated
Exclusively to Overseas Property Buyers”

To get your complimentary reports go to:
www.SmartCurrencyExchange.com/freereport.htm
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Disclaimer

As ever these are my musing as to how I see the various markets
going.

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