www.currencyline.co.uk

By Alex Ellis

Current foreign exchange rates are showing that Sterling is holding steady following losses during the course of last week, the most notable loss is for the GBP/AUD exchange rates which are currently trading at a 25 year low. For those looking to sell Australian Dollars and buy Sterling this is positive news as you may see a substantial return on your currency purchase

Meanwhile for those looking to trade Euros the exchange rates have seen significant losses compared to trading levels seen during recent weeks. I believe that this is on the back of the speculation surrounding Gordon Brown’s bullying as it shows a degree of political uncertainty and furthers the possibility of a hung parliament. The most significant data due out this week is German GDP data due out tomorrow at 07:00 (GMT), as Germany is considered one of the most major economies in the Euro zone any data they release can cause exchange rate movements if deviating from what has been predicted.

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

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

This morning has seen Sterling rally against the major currencies on the back of the Royal Institute of Chartered Surveyors claiming that the net balance of surveyors reporting house prices increasing had risen to 35% up from 34% from the previous month. This has caused Sterling Exchange rates to rise and we are seeing the highest GBP/ EUR exchange rates for at least a month, for those looking to buy Euros this is extremely positive news.

This spike could be short lived however as at 9:30 (GMT) today the Office of National Statistics will release the Consumer Price Index data, the CPI is seen as a key method of measuring inflation and changes in purchasing trends and in turn this is seen as showing the true state of the economy.

If you want to take advantage of these extraordinary exchange rates then contact a currency broker who will be able to assist you with your currency requirements when sending money overseas.

By Alex Ellis

At 12:00 (GMT) the Rightmove House price data was released, this is seen as showing the general strength of the U.K. housing market, and this relates to the overall economy as house prices correlate to the state of the economy. This data was much worse than expected and has caused Sterling to lose ground against all of the major currencies this morning; the data showed that house prices has fallen 2.2% in December but were 1.7% higher on the year. From this data release we can see that the economy remains fragile and therefore will have an impacting effect on exchange rates, in order to avoid losing money when buying Foreign Currency, be sure to contact an experienced currency broker who can guide you through the process.

For those looking to purchase AUD it may be worth keeping a watchful eye on the currency market today, as tomorrow sees the Reserve bank of Australia release the minutes from their committee meeting two weeks ago. Their past three meetings have seen them announce interest rate rises, so it is possible that this latest committee meeting will see the announcement of a fourth interest rate rise. This will be seen as a positive for those looking to sell Australian Dollars but for those looking to purchase AUD this will have a significant effect on exchange rates as it will cause Sterling to weaken.