The honeymoon period with the new Conservative government is over.
Sterling enjoyed a brief rally this summer, with a 2% rise against a basket of currencies of the UK’s major trading partners and rose around 9 cents to hover just below the USD $1.60 mark.Sterling has managed to perform relatively well because of the inherent weaknesses of other economies; the Euro was held back (the Greek economic crisis) and the US dollar has been suffering against every other major economy in the world as it struggles to shake itself out of the effects of recession.Now...
The UK National Statistics Office has reported that overseas spending by British holiday makers has dropped by 10%. However, at the same time, spending in the UK by foreign tourists has increased by 4%.
The UK was once regarded as the “workshop of the world”, and exports still account for a substantial portion of UK manufacturing and commercial activities today.
Transacting business overseas is a valuable commercial hedge against adverse market conditions at home as well as a mean of providing highly profitable opportunities to generate business growth.
Shop Around for Best Value Currency Exchange When Leaving the UK
In Layman terms, trading currencies is when a person sells or buys different currencies in order to make a profit in the forex market. When you visit another country, you exchange some of your currency into the foreign currency of that country. This exchange of money that takes place is also what is called Forex Trading. Forex Market For instance, if one is taking a trip to India, you approach the forex trader with Dollars and exchang it for rupees. You would have found out that the Dollars...
Forex and currency futures offer traders two options. According to Bank for International Settlements (BIS) data, forex market is the largest market in the world with over $4 trillion traded daily but it is not the only market. Currency futures market has a daily average closer to $100 billion. Currency Futures Currency futures or forex futures or foreign exchange futures are exchange-traded futures contracts for buying or selling a pre defined amount of a particular currency at a set...
The European Central Bank is gearing up for a monetary policy announcement tomorrow. Based on the following table, which shows broad based weakness in the EZ economy since the May meeting, they need to ease. Whether it happens now or in July is still an open question, but the central bank can’t sit by idly and do nothing for much longer.
The Reserve Bank of Australia’s monetary policy announcement is in just a few hours! For the second month in a row, the RBA is expected to ease but economists are divided on a 25 vs. 50bp move. Here’s a table showing how Australian data fared since the last meeting. As you can see, weakness all around particularly in consumer spending, employment and activity - definitely not good news!