Sterling strength in early morning trading - gains against USD EUR AUD CAD CHF DKK ZAR

The Pound has started off the morning gaining ground against a basket of major currencies following a release from the office of national statistics announcibng that unemployment levels had indeed slightly fallen on a rolling three month basis from June - August.

This is the first time we have witnessed a positive release of this sort since March - May last year.

This has been taken as extremely positive by investors as it shows labour market resilience within the worst recession we have had in decades.

A quiet day in general for other releases for the U.K - Asides from any surprise announcements that may pop up, we do however see the monthly report for the European monetary union, CPI data for both the Eurozone and U.S at 10:00am and 13:30pm respectively along with jobless claims in the U.S at the same time.... expect volatility for these currencies during this period.

New Zealand Dollar - Inflation has risen.... Late last night saw inflation figures released from New Zealand, these were expected to come out at 0.8% however came out much better than expected at 1.3%.

CPI (Consumer Price Index) is a key indicator of inflation and in general countries/economies will shift interest rates to control it... An interest rate rise is generally positive for the currency concerned and negative should there be a drop in rates as investors look to get a higher return for their funds.

This latest release suggests that the NZD may have further to climb as there is now scope for New Zealand to consider following Australia and hike their rates next time round.



This is a brief summary of todays report, should you wish to make a currency enquiry click this banner and remember to ask for DANIEL WRIGHT quoting CURRENCY INFORMATION to ensure you are put through to the author of this blog Email Me
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Have a great day and thanks for reading!

Daniel Wright

Pound Sterling gains again against Euro Dollar Australian Dollar and many major currencies

Sterling has continued its long awaitied recovery against a basket of major currencies today, with a flurry of data released being better than expected.

The Consumer Price Index and Retail Price Index came out a lot better than expected which offers another possible set of 'green shoots' for the U.K economy.

Investors can only gain more confidence in the Pound following this data, hence the fact we have seen early morning gains against the U.S Dollar, Australian Dollar, the Euro and most major currencies.

Many of my clients will be pleased to see this, especially those with ongoing building projects abroad or pension/regular payments to make overseas as the past few months must have been nothing short of a nightmare when edging close to parity against the Euro and hitting the mid 1.30s against the USD whilst slipping below the 2 mark against the AUD for the first time in years.

This is a brief summary of todays report. Click here to read the full report on our main website

If you are buying a property abroad, and want the best exchange rates, just click on the links below to go straight to our main site, or Email Me




Have a great day and thanks for reading!

Daniel Wright

Confidence in the Pound grows - gains against the Euro and most major currencies

Daniel Wright - Trading Floor Manager at Foreign Currency Direct

Now may be the time to consider looking for that dream home abroad again as a report released overnight by the NIESR (National Institute Of Economic Research) suggesting that the U.K may well be close to seeing the end of the recession already!!

Sterling is already heading towards the 1.20 mark at a rapid pace against the Euro which is great news, for either those of you already living overseas that may have building work or general upkeep to do on their properties or even those that have moved abroad and have pensions forwarded over that have recently seen the amount received in Euros on a monthly basis tumble.

Should you have any questions or queries regarding this post please do not hesitate to contact me on either on 0800 328 5884 or by emailing me at djw@currencies.co.uk

This is a brief summary of todays report. Click here to read the full report on our main website

If you are buying a property abroad, and want the best exchange rates, just click on the links below to go straight to our main site, or Email Me




Have a great day and thanks for reading!

Daniel Wright

GBP Forecast against most major currencies EUR USD JPY AUD NZD

Sterling has continued its great start to the week by making further gains against the Euro and Dollar over the course of yesterday and in fact is still moving in the right direction this morning.

Should the Pound manage to avoid any further political problems then this may be the start of our long awaited recovery but then and again the pattern of 2009 tends to be Sterling gaining ground and then something being released to suddenly knock it straight back down again.

Manufacturing and industrial production data is due out this morning at 09:30 so should this differ from the expected results then expect further volatility for the Pound.

This is a brief summary of todays report. Click here to read the full report on our main website

If you are buying a property abroad, and want the best exchange rates, just click on the links below to go straight to our main site, or Email Me




Have a great day and thanks for reading!

Daniel Wright

Sterling continues recovery - Currency update for overseas payments

Sterling has continued it's determined fight back at the start of June with green screens against most major currencies during morning trading today.

Consumer confidence came out overnight and was better than expected which again is another positive sign that the economy in the U.K may be slowly but surely pulling itself out of the mess that we found ourselves in.

Obviously a full recovery is an extremely long way away but signs are there that things are starting to improve over here - great news for those with properties abroad that are planning on keeping them alongside expats with pensions being sent over to their new homes overseas.

Alongside this, this is fantastic news for those of you that have been planning on buying that dream home abroad yet had your dreams taken away from you at the back end of last year, with Sterling closing in on parity against the Euro and early this year hitting the mid 1.30s against the Dollar.

The contined climb is once again making that purchase a possibility as you will now have a lot more to play with once you have completed your currency exchange.

Should you be unsure as to how to go about this or indeed how to maximise your money then by all means do get in touch with me on the numbers below and I will run you through the many options available to you, I deal directly with many agents overseas and this is my specialist subject so I will be more than happy to make what can be a daunting process simple yet efficient.

This is a brief summary of todays report. Click here to read the full report on our main website

If you are buying a property abroad, and want the best exchange rates, just click on the links below to go straight to our main site, or Email Me




Have a great day and thanks for reading!

Daniel Wright

Sterling recovery? The Pound gains ground against a basket of major currencies!!

Great news for anyone looking to purchase currency with their Sterling at the moment - The Pound has made a fantastic start to the week gaining ground against a basket of major currencies including 1.36% against the Euro and 1.59% against the Dollar at the time of writing this email.

I personally have believed the Pound has been undervalued for some time now and it is merely a case of when it will pick up and not if as more and more data gets released by other economies proving that they really aren't in a great position themselves.

The recent news on General Motors means that there could be a huge amount of jobs lost over in the States which one would imagine may lead to Dollar weakness.....

There are interest rate decisions due to be made for the Australian Dollar, Canadian Dollar, Euro and Pound over the course of the week alongside numerous announcements which may well effect the markets.

Do feel free to get in touch should you wish to discuss anything from this blog and i will be happy to assist.

This is a brief summary of todays report. Click here to read the full report on our main website

If you are buying a property abroad, and want the best exchange rates, just click on the links below to go straight to our main site, or Email Me




Have a great day and thanks for reading!

Daniel Wright

Currency Market updates GBP EUR USD

Trading for Sterling has seen a mixed bag this week, starting off with gains leading us to the highest levels we have seen this year against a basket of major currencies, heading over the dizzy heights of 1.60 against the Dollar and 1.15 against the Euro.

A year or so ago these sort of levels would have been laughed at but in the current climate people are jumping at the chance to secure them - proof once again just how nasty the currency markets can be.

Early morning trading has seen Sterling start to lose ground again following the news of possible job losses within the motor industry due to the ongoing General Motors situation.

Once again I personally believe Sterling as a whole is undervalued it is merely a case of just how long it takes before we start to see a recovery.

The past few weeks have seen a minor recovery and possibly the start of the U.K economy starting to turn around but there is still an awful long way to go before confidence is restored and investors put their full trust back into the pound again.

Tommorow sees the release of GDP data for the U.S and will inform us how the economy over there has faired in the past quarter. A common saying on the currency markets is when the U.S sneezes the U.K catches a cold so it may give some indication as to what we can expect in the coming weeks and months.

Feel free to contact me (Daniel Wright) on 0800 328 5884 or email djw@currencies.co.uk should you have any questions, queries or comments regarding this report and I will be more than happy to assist.

Sterling Gains against Dollar and Euro - negative movement against New Zealand Dollar and Australian Dollar

Sterling has had a mixed day so far today making gains of 0.86% against the Euro and 0.82% against the Dollar whilst making a loss of 0.44 % and 0.12% against the AUD and NZD respectively at the time of writing this post.

It appears that investors shifted funds around with baited breath awaiting the release of key data for the U.K throughout the week which may indicate if the recession is slowing or not.

The GBP - EUR rate hit an 11 day high over the course of the afternoons trading after the Euro came under vast pressure as speculation has started to begin on whether the recession for the 16 zone economy may last longer than that of the U.K??????

"Sterling is one of the risk plays, so any kind of semblance of risk appetite coming back and sterling has been one of the ones to capitalise," said Daragh Maher, deputy head of foreign exchange research at Calyon in London.

It appears now that even with the MP scandals released after the past week or so confidence in the Pound has not taken a hit.

"There's a feeling that we've had all the bad news on sterling and the euro zone is perceived as having more problems ahead," a London-based trader said.
"Despite the fact that the political landscape looks horrible there is an underlying sentiment that sterling is undervalued," he said, referring to the British parliament's expenses scandal.

I personally believe that Sterling will recover in the coming months but again anything can happen with the markets in the current economic climate as surprises are popping up everywhere so the smart ones amongst us will ensure we are in a position to take advantage of any spikes in the market to make that currency purchase cheaper.

Feel free to get in touch should you wish to discuss any of the information in this report and i will happily assist.

Sterling update - Currency movements GBP

Yesterday's trading saw A fairly negative day for Sterling in general..... not great news for anyone needing to send money overseas.

The movement looked to be mainly down to the quarterly inflation report announced by the governor of The Bank Of England Mervyn King at 10:30am yesterday.

Mr King had mentioned that he believes that economic recovery in the U.K will be "slow and protracted" .

Any negative news like this will generally have a negative effect on the value of Sterling as the markets do move every two seconds and work on rumour as well as fact, so if the head of the BOE believes we are in for a rocky ride then investors will instantly lose confidence in the Pound.

This is a brief summary of todays report. Click here to read the full report on our main websiteIf you are buying a property abroad, and want the best exchange rates, just click on the links below to go straight to our main site, or Email MeHave a great day and thanks for reading!

Daniel Wright

The Process

Having assisted many clients over the years that have requirements to send funds abroad I completely understand that each individual case needs to be dealt with in a different way.

Some clients may know exactly how the markets work and purely would like to achieve the best exchange rates, and some may have little or no understanding about how the markets work and need some help along the way.

Whichever category you fall into I am more than happy to assist you every step of the way, fully explaining the process and keeping you up to date with market movements alongside any upcoming data that may have an effect on the cost of your currency.

If I could predict exactly where the markets will go in the future I would quite clearly be a very rich man so I cannot guarantee you solid advice, however I can give you my opinion based on market knowledge and trading the markets myself for years.

Trading with myself at Foreign Currency Direct is simple and easy - All you need to do to set up a trading facility is click on the link to Foreign Currency Direct below and fill in the online registration form which takes approximately 2-3 minutes. Opening a trading facility incurs no costs and carries no obligation to trade through us, it simply puts you in a position to book out a rate should you wish to.

Once the registration is completed I will personally get in touch with you to discuss your requirements, which in turn will assist me to work out the best way for you to go about securing your currency which may include forward contracts or stop/limit orders.

I also deal with many commercial clients and can achieve highly competetive commercial rates - Foreign Currency Direct have been awarded 'best exchange rates' for the past three years running by the Sunday Times - A great credit to the company and it also goes to show that we can save your company a great deal of money at a time where everyone is trying to tighten their budgets.

Once the facility is open and I have achieved you a rate that you are happy with it is again a very simple process from there forward which I will outline below:

1) We go through a brief verbal agreement over the phone in order to book out your rate.

2) Within 5 minutes I forward across a contract note to you which can be emailed, posted or faxed which will contain all the details of the the transaction, our bank account details for you to transfer to and a section for you to fill in with the details of where you would like the funds to be sent.

3) Once a rate is booked we generally ask for settlement within 2 working days, and once funds are received and everything in place we send your funds out as a 'swift' international transfer - they should arrive in your designated account within 1-3 working days.

Please feel free to email me at djw@currencies.co.uk or contact me personally - Daniel Wright

on freephone 0800 328 5884 and I will be more than happy to assist.