June 2014 Archive

Wednesday 25th June 2014

Girasol Homes Opens New Office

Girasol Homes New Office
Girasol Homes has opened a new office in Spain...more information to follow...how the local press covered the opening

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Monday 9th June 2014

Sterling Report

Sterling Report w/c 8th June 2014
GBP EUR The Pound has still remained fairly range bound against the Euro over the past week of trading even with the vastly expected interest rate cut from the European Central bank yesterday afternoon. I would imagine this cut would have already been priced into the market. Sterling Euro exchange rates are still very close to a 16 month high so if you are looking to send money overseas for a property purchase or any other reason, then now is still a great time to buy.
GBP USD Again fairly static, the Pound has failed to make any major movements against the Dollar throughout the week, making minor gains last Thursday following the ECB announcement.
U.S Non-Farm payroll data was due out last Friday at 13:30pm which can actually be quite a large market mover. Non-Farm Payroll data measures the number of people in Non-agricultural employment over in the States and can actually have an effect on all major currencies as it affects global attitude to risk so this is one to watch out for.
GBP CHF The Swiss Franc took a bit of a hit during the course of trading last Thursday afternoon due to the ECB announcement and moved by over 1% creating a small buying opportunity. Indeed the rate has already come all the way back down which still suggests that the Swiss Franc is well in favour so may come back a little in the coming weeks.
GBP AUD Seemingly at a pivotal point of 1.80 at present, the Pound and Australian Dollar are having a battle which is much less one sided than the Ashes. Personally I still think the Pound has gains to make in the coming months however this is one to approach with a little caution as calls for AUD weakness by the RBA and Government do not quite seem as rife as a few months back.
GBP NZD Sterling has made good gains against the New Zealand Dollar recently edging closer to the psychological level of 2 NZD to the Pound. Personally I would be tempted at placing a limit order at this level if I had any currency exchange to carry out involving buying New Zealand Dollars. A limit order is where you can set a particular level that you wish to achieve and should this level become available at any point 24 hours a day then the currency is bought out automatically for you, very handy with a currency pairing that can make sharp moves overnight!
Data out this week to watch out for:
Industrial and Manufacturing figures for the U.K @9.30am
NIESR GDP Estimate @ 3pm
U.K Unemployment figures @ 09:30am
New Zealand Interest Rate Decision @ 10:00pm
Australian Unemployment figures @ 02:30am
If you have a requirement in the future but you do not yet have the full availability of funds you can book out a forward contract. This is where you can book a rate out for up to a year in advance with just a small deposit, removing the risk of the currency market making your purchase any more expensive in the future.
This is ideal if you are in the process of buying a property overseas as you can know exactly how much the property is going to cost you today and eliminate the risk of the Pound dropping away again and missing out on this great opportunity.
Contact our Foreign Exchange expert here  

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