Call Free Phone Now:0808 163 0102
Outside the UK: +(44) 207 898 0541 Request a Call Back
 
  Daily Currency News Euro US Dollar Educational Articles  
 
Posted November 30th, 2006 by Charles Purdy

Smarts Daily Currency Note – 30th November 2006

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 30th November 2006


Currency

Rate

EURO

1.482

CY£

0.850

US$

1.954

CHF

2.351

CAN$

2.229

AUS$

2.483

Comments: No respite for the US$. Very close to 14 years highs against sterling. This happened even though the Fed Chairman is still worried about inflation and US GDP grew at a rate greater than forecast in the third quarter. I still don’t expect any strenghtening in the US$ short term. Sterling and the Euro continue to hold steady against each other around the 1.48ish level. Interest rates movment for these two currencies will be key as to how the exchange rate will fluctuate but I still feel that there is more downside risk than upside potential for sterling against the Euro. The Canadian $ continues its descent pushing towards 2.23 interbank.

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.

Leave a Reply

You must be logged in to post a comment.

Posted November 29th, 2006 by Charles Purdy

Message created 11/29/2006 3:41:24 AM

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 29th November 2006

Currency

Rate

EURO

1.480

CY£

0.850

US$

1.949

CHF

2.351

CAN$

2.209

AUS$

2.493

Comments: Still the US$ suffers. The Fed Chairman made a speech in which he said that inflationary pressure still existed and that they had to remain vigilant. However the market viewed this as being inconsequential when compared with poor ecomonic data and a lack of consumer and business confidence in the US. Hence the further weakening of the US$. The US$ is at year highs [if not 18 month highs] against sterling and the US$. I don’t expect any strenghtening short term. Sterling and the Euro continue to hold steady against each other. Again we await further info on interest rates for these two countries but I still feel that there is more downside risk than upside potential. The Canadian $ continues its descent pushing towards 2.21 interbank.

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.


Posted November 27th, 2006 by Charles Purdy

Smarts Daily Currency Note – 27th November 2006

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 27th November 2006

Currency

Rate

EURO

1.477

CY£

0.849

US$

1.936

CHF

2.339

CAN$

2.196

AUS$

2.487

Comments: The US$ had a bad week. The “belief” is that the next move in US$ interest rates may be down rather than up. This coupled with the continued twin deficits of budget and trade means that the US$ continues to lose friends. However, the problem with this is that as the US$ depreciates, exports from the UK and Euro land become more expensive and hence less competitive. Short term the US$ could continue to suffer. However, we are at year highs and as we saw with sterling hitting year highs against the Euro it can be somewhat difficult to push through these levels.

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.


Posted November 26th, 2006 by Charles Purdy

Smarts Weekly Currency Note – 24th November 2006

Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers
Weekly Currency Interbank Exchange Rates `24th November 2006

Currency
Rate Last
Week
Rate This
Week
EURO
1.476
1.476
CY£
0.848
0.848
US$
1.889
1.930
CAN$
2.156
2.191
AUS$
2.459
2.482
NZD
2.840
2.878

CHF

2.369
2.369

ZAR(Rand)

13.588
13.825

Charles’s Thoughts: Sterling had a steady week against the Euro and a good week against the US$. There was no real news affecting sterling this week, it was more down to a change in sentiment towards the US$.

The US$ had a bad week. The jobless figures were worse than expected and this had led to a belief that interest rates are on the way down rather than up. There was a decisive move through 1.90. However we have to remember that we have been at these levels before and seen a dramatic bounce back. When the US$ starts to crack it makes imports from Euro land and the Far East more expensive which can be self governing as their economies suffer!

The Euro was steady against sterling. Business sentiment in Germany was more positive than expected and this has led support to the expectation of their being a number of interest rate rises in Euro land over the next few months. If sterling doesn’t keep pace we could see further weakness against the Euro

Canada has shown its first real cracks as it moves through 2.18 inter bank. We still need to be cautious given its mineral wealth but there may be further weakening against sterling.

Why is Currency Management So Important? Never assume that the market is working on perfect information and that exchange rates only move one way. Sterling spent a month hitting highs for the year of 1.49 plus inter bank against the Euro. Within a week its lost 2 cents. If you had a requirement to buy Euros 100,000 and had waited to now, you would have lost £1000. Not great!

Smart Client Testimonial: “Very pleased with the prompt, efficient service, friendly and competent suggestions – regardless of whether the amount is big or small.” Brian Macklin, Abingdon

If you haven’t opened a Smart account yet, call me on freephone 0808 153 0102 or fill out our online Account Form at: http://www.smartcurrencyexchange.com/application.htm

How much will a Property Cost? To estimate the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.


Smart Resources

Currency Strategy Worksheet
Need help creating a Currency Strategy? Download our Currency Strategy Worksheet:
http://www.smartcurrencyexchange.com/downloads/CurrencyStrategyWorksheet.pdf

Currency Report
Have your read our 10-page Currency Report that outlines the top 3 mistakes that overseas buyers make when exchanging and transferring their money overseas? Get the report here:
http://www.smartcurrencyexchange.com/downloads/ThreeMistakes.pdf

Currency Quotation
Are you interested in a currency rate for Euros, US$’s, CYP, NZD, or any other currency, please fill out our Smart quotation form at:
http://www.SmartCurrencyExchange.com/smartquotation.htm


Smart Currency Exchange Limited


Posted November 24th, 2006 by Charles Purdy

Smarts Daily Currency Note – 24th November 2006

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 24th November 2006

Currency

Rate

EURO

1.478

CY£

0.849

US$

1.915

CHF

2.344

CAN$

2.185

AUS$

2.472

Comments: Little movement in the day for sterling against the rest. The only real news in the day was that Germany’s business sentiment was better than expected which lends support to more than one 0.25% interest rise over the next few months. The US$ continues to have few friends and we could see further weakness.

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.



Posted November 23rd, 2006 by Charles Purdy

Smarts Daily Currency Note – 23rd November 2006

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 23rd November 2006

Currency

Rate

EURO

1.480

CY£

0.849

US$

1.915

CHF

2.349

CAN$

2.185

AUS$

2.473

Comments: Sterling drifted slightly higher against the US$ maintaining its position above 1.90 inter bank. Jobless figures in the US were up which lends support to no further increases in US interest rates short term. Sterling, on the back of no real news here or in Euro land, is steady against the Euro hovering around 1.48 interbank. Still looks like a good time to buy Euros and the US$

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.

Posted November 22nd, 2006 by Charles Purdy

Smarts Daily Currency Note – 22nd November 2006

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 22nd November 2006

Currency

Rate

EURO

1.480

CY£

0.849

US$

1.904

CHF

2.357

CAN$

2.181

AUS$

2.463

Comments: Sterling continues to drift higher against the US$ passing through 1.90 interbank. It is steady against the Euro hovering around 1.48 interbank. There is no real news affecting it against either of these currencies. We are really waiting for further clarity on inflation and the likely short/medium term direction for interest rates here and in the US. Given the lack of volatility and lack of hard information it still seems like a good time to buy Euros and the US$

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.


Posted November 21st, 2006 by Charles Purdy

Smarts Daily Currency Note – 21st November 2006

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 21st November 2006

Currency

Rate

EURO

1.480

CY£

0.849

US$

1.898

CHF

2.359

CAN$

2.174

AUS$

2.467

Comments: Sterling had a better Monday gaining against the Euro and the US$. Apparently house prices increased by the highest rate for two years here in the UK. Euro land is still nervous about too strong an exchange rate for the Euro affecting their economies/exports [especially the French]. Very good rates to buy both the Euro and the US$ when compared with this and last year.

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.

Posted November 20th, 2006 by Charles Purdy

Smarts Daily Currency Note – 20th November 2006

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 20th November 2006

Currency

Rate

EURO

1.476

CY£

0.847

US$

1.895

CHF

2.356

CAN$

2.171

AUS$

2.466

Comments: Sterling has been stable against the Euro for the last few days following a bad week during which it lost 2 cents. Also gained against the US$ where the debate on future US$ interest rates seems to oscillate between increase and reductions. Still may see 1.90 again.

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.

Posted November 17th, 2006 by Charles Purdy

Smarts Weekly Currency Note – 17th November 2006

Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers
Weekly Currency Interbank Exchange Rates `17th November 2006

Currency
Rate Last
Week
Rate This
Week
EURO
1.487
1.476
CY£
0.855
0.848
US$
1.913
1.889
CAN$
2.164
2.156
AUS$
2.492
2.459
NZD
2.873
2.840

CHF

2.369
2.369

ZAR(Rand)

13.832
13.588

Charles’s Thoughts: Sterling had a baddish week. Strange that a 0.25% increase in UK interest rates has resulted in a 2 cent loss against the Euro and the US$. Just shows how rumours affect the rate. The belief was that inflation was higher than planned and therefore interest rates would continue to be increased on a regular basis. However the Bank of England believes inflation is under control and is therefore unlikely to increase interest rates short term.

The US$ is still suffering. Great uncertainty about the economy leading to difficulty in assessing future interest rate movements have undermined it. Also China is considering diversifying its reserves out of US$’s. Given this we may well see the exchange rate push back up to 1.90 inter bank.

The Euro has benefited from uncertainty about sterling and improving business confidence in Germany and the need to raise interest rates. 0.25% increase in the Euro rate is expected in December. Sterling has significant downside risk as a lot of the year was spent closer to 1.44 rather than 1.49 inter bank.

The rand continues to strengthen on the back of the increasing gold price. The Australian dollar is pushing hard against 2.45. The Canadian dollar is beginning to look susceptible given its dependence on the US economy but its commodity base should mean that any weakening is not going to be quick.

Why is Currency Management So Important? Never assume that the market is working on perfect information and that exchange rates only move one way. Sterling spent a month hitting highs for the year of 1.49 plus inter bank against the Euro. Within a week its lost 2 cents. If you had a requirement to buy Euros 100,000 and had waited to now, you would have lost £1000. Not great!

Smart Client Testimonial: “Very good service. Trustworthy, helpful friendly staff. Give good personal service. Best currency service I’ve ever used and would be happy to recommend to friends and family.” V. Storey, Tyne on Wear

If you haven’t opened a Smart account yet, call me on freephone 0808 153 0102 or fill out our online Account Form at: http://www.smartcurrencyexchange.com/application.htm

How much will a Property Cost? To estimate the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.


Smart Resources

Currency Strategy Worksheet
Need help creating a Currency Strategy? Download our Currency Strategy Worksheet:
http://www.smartcurrencyexchange.com/downloads/CurrencyStrategyWorksheet.pdf

Currency Report
Have your read our 10-page Currency Report that outlines the top 3 mistakes that overseas buyers make when exchanging and transferring their money overseas? Get the report here:
http://www.smartcurrencyexchange.com/downloads/ThreeMistakes.pdf

Currency Quotation
Are you interested in a currency rate for Euros, US$’s, CYP, NZD, or any other currency, please fill out our Smart quotation form at:
http://www.SmartCurrencyExchange.com/smartquotation.htm


Smart Currency Exchange Limited

© Copyright 2010 Smart Currency Exchange. All Rights Reserved.
Site by Iniquus