July 2014 Archive

Tuesday 22nd July 2014

Important economic data out this week

Important Economic data out this week - from Daniel Wright FCD - our brokers
 
Following a very quiet start to the week for the Pound here are a few key pieces of economic data due out over the coming few days that may affect the value of Sterling against these major currencies.
 
The two key days for me may be the Bank of England meeting minutes tomorrow morning at 09:30am followed by BOE Governor Mark Carney speaking in the early afternoon and U.K GDP (Gross Domestic Product) data due on Friday, also at 09:30am.
 
We are currently still very close to a two year high against the Euro and a nearly at a six year high against the Dollar so trading levels are still extremely attractive for anyone looking to buy either of these two currencies.
 
Today – Reasonably quiet for economic data today with the main focus being on U.S inflation data which is due out at 13:30pm this afternoon. As with most U.S data this can have an effect on all major currencies as it does affect global attitude to risk.
 
Tomorrow morning does has the potential to be a big market mover although it has not been led to too much market volatility over the last few months. We have the Bank of England minutes out for the U.K  which are from the last interest rate decision. The key will be if any members of the Bank of England have started voting in favour of an interest rate hike, for a long time now the vote has been all nine members of the monetary policy committee in favour of no change but with all the talk of interest rate changes coming closer will anyone have changed their mind?
 
In early afternoon Governor of the Bank of England  Mark Carney speaks at 12:24pm so be very aware that investors will be hanging off of his every word so Wednesday for me has real potential to be the most volatile of the week.
 
Thursday – Thursday morning is fairly busy once again with a flurry of services and manufacturing data out for Europe throughout the morning from 8:00am until 9:00am followed by U.K Retail Sales data at 09:30am. Expectations are for a small rise in Retail Sales but as you are all aware these releases don’t always come out as expected.
 
Friday Once again 09:30am is the key for those following Sterling exchange rates as we have GDP (Gross Domestic Product) data out for the U.K at this time. GDP measures the amount the economy has grown or shrunk within a specific period of time. This can be one of the most important releases of the month an again expectations are for a minor increase year on year but no revision to quarter 2.
 
All in all a fairly busy few days, so if clients have a currency transfer to carry out involving any major currency it is well worth making me aware of it or giving me a call so I can notify you of any large market movements or so that you can secure these fantastic exchange rates so that the market does not have a chance to drop back away again if data is not too great.
 
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.
 
I look forward to speaking with you if you have any questions or queries or you would like to book out a rate of exchange.

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Friday 4th July 2014

Matthew Parris Buys Cave House in Granada

The Time's Matthew Parris has recently bought a Cave House in Granada 

Matthew Parris buys Cave House in Granada

 For the largest selection of Cave Homes click here

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