Currency Market following Election

The currency market remains very volatile following the UK general election and this can create both excellent and poor times to conduct currency purchases. In this instance use Currency Line to contact an experienced currency broker who can not only assist you with your purchase, but inform you of recent trends and movements as well as implementing tools to manage your risk and minimise your exposure.

Brown and OUT!

Sterling exchange rates have improved consistently since the weekend and it seems that the market is anticipating a decision as to a possible coalition. Since the news yesterday that Brown was stepping down from the Labour party sterling appears to have gained significant strength.

For those looking to buy Euros or conduct any form of currency exchange this will come as refreshing news.

However if you are looking to conduct a currency purchase the market will remain fairly volatile and in order to ensure you buy your currency at the best possible time, use Currency Line to ensure you achieve an award winning exchange rate.

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.

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.

 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.