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By Alex Ellis

Today sees little data due to be released for the Euro, and therefore this should mean that the pound will begin to show some potential for those looking to buy Euros and sell pounds.

Today may well see the USD continue it gains against other major currencies as it is currently viewed as a safer bet than the other major economies. Today sees the release of US Trade Balance data for November, this data shows the overall value of imports and exports, and is seen as a good indicator of the health of the economy. Obviously if these figures come out worse than expected then the currency market should be affected buy this and for those looking to either purchase or sell US Dollars it is worth contacting a currency broker in order to further understand how this may affect you.

Meanwhile in other news Sterling is still experiencing a dire situation in terms of the Australian Dollar, during the course of last week Sterling hit a 25 year low and is still floating around similar levels.

By Alex Ellis

Sterling remains a weak currency clearly showing a significant lack of confidence across the currency market. This follows news that Iceland may not be able to repay the £3.6 Billion that it owes to the U.K. government following the collapse of the Icelandic banks back in 2008. The consequences of this are that the pound has seen no short term confidence as there seems to be now initial reduction in the growing national debt.

 Although last week did see the Product Price Index data released for the U.K. with data coming out much better than expected, this caused Sterling to gain some lost ground in early morning trading. However as is often the case this spike was short lived and therefore if you didn’t take advantage of these rates you may regret this.

For those looking to buy Canadian Dollars last week showed some significant losses and therefore there was a refreshing relief when the Canadian unemployment figures were released and showed that unemployment levels remained at 8.5%. The prediction was that this figure would decrease and therefore this caused the CAD to stutter its growth against the pound.

For anyone looking to purchase currency the market remains volatile and clearly you would want to maximise your savings and minimise your risk when sending money overseas, contact a currency broker in order to keep on top of the currency market.

By Alex Ellis

The Bank of England announced yesterday that interest rates would be kept on hold at 0.5% for the foreseeable future as well as announcing that there would be no further extension to the Quantitative Easing programme in the month of January. Historically any extension to the QE programme has caused massive losses for Sterling and therefore the pound showed slight strength towards the end of the day.

 Meanwhile the pound hit a 25 year low against the Australian Dollar yesterday, as strong Australian Retail figures increased the chances of an interest rate increase in February. This doesn’t bode well for the future of GBP/AUD exchange rates and for those looking to purchase some Australian Dollars it is worth speaking to a currency broker sooner rather than later to see what tools are available to combat the exchange rates.

 The most notable data today is the Non-Farm Payroll data released in America; this data is seen as reflective of the overall economy in America. The prediction is that 8,000 jobs will have been lost over the course of December and therefore this will cause volatility within the market even if there is some deviation from the prediction.

In order to ensure that you maximise your savings when conducting a currency purchase it is worth contacting a currency broker who can update you on current currency market movement and inform you of any future factors that will influence exchange rates.

By Alex Ellis

Sterling continued to struggle on the currency market yesterday as the pound dropped against all major currencies for the second day running, this was on the back of weak economic data, as well as uncertainty surrounding the election and political party which may be in power. There is still a risk of a hung parliament this where no one party has the majority control over the country and would cripple the U.K. economy.

In the build up to Thursday’s Bank of England Interest Rate decision it seems that Thursday could determine the short term future of Sterling, as the market is still currently trading at higher levels than seen in recent weeks if you are exchanging Euros then now could be a better time to conduct your currency transfer.

 Meanwhile the Dollar remains much stronger than the pound as the economy in the U.S. has begun to show signs of recovery and is pushing itself towards coming out of the recession. Therefore for those looking to sell Dollars you may want to take advantage of these exchange rates and for those looking to purchase Dollars this week Sterling looks set to continue it’s weak run against the greenback until the near future, at least until the U.K. is out of the recession.

By Alex Ellis

Sterling experienced a New Year tumble yesterday as the currency lost ground against all other major currencies throughout the course of the day. Data released yesterday should’ve been positive for the pound: the UK Net lending figures increased the manufacturing PMI data figures increased as well as mortgage approvals. Usually all of these data releases would’ve been positive for Sterling and caused the currency market to be affected by this. It seems that the political uncertainty and rising U.K. debt seem to be causing the pound to crumble under the pressure of other major currencies.

 Meanwhile the Dollar is still experiencing strength against Sterling and for those looking to Sell Dollars at present is possibly the best time. Some of the levels experienced over the last few weeks have provided the best opportunities for those looking to sell this currency in nearly a year.

 The currency market and most specifically, the pound remains volatile in present times and therefore it is important to consider talking to a professional within the field. If you contact a currency broker they will be able to inform you about market trends which will aid you in making sure you purchase your currency at the correct time.