Posted tagged ‘foreign exchange’

Order Your Travel Money Online And You Can Make Great Savings

October 2, 2012

If you are thinking about going away anytime soon, whether for a holiday or business trip, have you thought about how you will spend money once you are there? Planning ahead is paramount. Most people leave getting their travel money until they get to the airport but this is most often the least cost effective option. By ordering your travel money online you can get access to some of the best possible exchange rates meaning you will get more for your money and have more to spend once you are away.

You can order your travel money online or over the phone or you can visit a local branch if you wish. With most companies you can then arrange to have securely delivered to your home or workplace or even arrange to have it picked up at the airport. Travel currency services are convenient, fast and easy to use. Another advantage about travel money companies is that if you come back with money unspent they can buy back your remaining cash without commission.

When deciding on which service to use you should make sure you choose one that deals in the currency you are looking for. Bear in mind if want larger amounts of money or require a more unusual currency you may have to place your order further in advance. You should also look at the delivery methods and costs and read the terms and conditions thoroughly. Make sure you are aware of any other fees that might be involved as commission charges may vary but there are many providers who do not charge commission on most currencies.

Remember exchange rates fluctuate on a daily basis so it is worth taking the time to research the market and compare different companies against each other. You can do this through sites like Which Way To Pay which offer unbiased comparison tables full of some of the leading travel money services on the market. to help you make great savings on your hard earned cash. The amount of currency that your money will get depends on the exchange rate, which can vary from day to day so keep checking back to see how the rates can work in your favour.

4th Quarter GDP Better than Expected

March 31, 2010

Tuesday brought some surprising news for economists: fourth quarter growth figures were revised upwards!  Now, it seems the UK economy grew by 0.4% and what is more, this was the final revision.  Having started with a minute 0.1% , we now know that the country exited the recession faster than had been thought!

However according to another survey consumers are still worrying about the economic outlook for the country.  In March, consumer confidence fell somewhat yet the risks of a double-dip or ‘W’ shaped recovery are still not significant.

Some accused media hype surrounding Alistair Darling’s latest Budget announcement as the reason for consumer fears.  Around his announcement, much was made over Britain’s large deficit and the Chancellor’s lack of drastic plans to clear this debt quickly (he currently plans to halve it in four years).

The pound edged up on the good GDP news.

Greece Unveils Austerity Plan

March 4, 2010

Investors were slightly mollified yesterday, leading to a rise in the euro against the US dollar.  The reason?  Principally, it was due to Greece’s unveiling of plans to put its economy back on track.  It plans to do so by introducing VAT rises, public sector cuts and other austerity measures to try and reduce the deficit from 12.7% to 8.7% within 2010.  Will they manage it?

The euro has really taken a strain thanks to the Greek Problem, while other european nations have been edging close to a similar situation.  Investors have therefore been largely cautious around the eurozone single currency.

Meanwhile, the pound is still enjoying a slight respite thanks to positive PMI and other economic data.

Improvement for UK Economy?

March 3, 2010

What’s all this?  Good news for the pound?  Surely not…

Yes, today the pound rose against the US dollar and the euro after some positive data concerning the UK economy was released.  According to recent surveys and indices, consumer confidence has risen to its highest level in two years, while the services sector is reporting notable improvement.

Consumers, while still cautious about buying large household goods, are now confident abouth the next 6 months – so much so that the index measuring this has risen to its highest point since 2004!  Looking at today’s numbers it is no surprise that investors headed back to the pound.

Indeed, the data was even better than expected – most economists had predicted much more moderate figures.  In addition, GDP growth rose to 0.3% for the final quarter of 2009 (not 0.2% as had been previously thought).  Overall it certainly looks like Britain has some hope on the horizon!

Yet only earlier this week, investors on the foreign exchange market were shaking their heads whenever the word ‘Britain’ was mentioned – after all, with a ‘hung’ parliament looking like a real risk and public debts still nearly as bad as those of Greece, the pound wasn’t looking like a particularly safe bet

Greece vows to Change

February 4, 2010

Greece is in trouble.  Ok, so that’s no news – we all know that the country, which was downgraded by credit ratings agencies, has economic problems.  But now they have vowed to change the situation by cutting their deficit by a huge amount over three years.

Greece’s plan – which involves reducing the deficit from 12.7% to 3% by 2010 – is being met with furrowed brows and sceptical comments from many within the EU and European Commission.  But the head of the EC has said that Greece will receive support in its intentions – and will be kept under close scrutiny in doing so.

The Greek Prime Minister, George Papandreou, has said that measures such as public sector pay freezes and tax increases will be carried out to stave the massive shortcoming.

The foreign exchange market has been keeping a nervous eye on Greece and the euro has been taking pressure from nervous investors.

Plan trading with World Economic Calendar

July 9, 2009

Calling all newbie traders!  Have you used a World Economic Calendar yet?  One would hope so, because this is one the most useful ways to keep up to date with what is happening in the world – and specifically how it will affect the markets.

The world economic calendar is pretty easy to use (after having deciphered some of the abbreviations in the “unit” calendar) and lists planned political and economic events.  For example, how will the unemployment figure announcement in Australia affect the Australian Dollar and the rest?  It will show what is forecast, and after the event will show the “actual” effect in percentage.

The calendar is a really good way to get an overall picture of what is happening around the world and helps the forex trader to plan his or her next move.

Anti-Money Laundering Regulations in the Spotlight

July 1, 2009

Money Laundering.  When you hear the term as a child, you might imagine wads of cash in a washing machine.  But then you become an adult and you might realise just how important this is in the financial services sector.

If you type Foreign Exchange, overseas mortgages, share dealing or any trade or money transfer type into google, you will get literally hundreds of results for online brokers and services.  They are all involved in the movement of money and currencies  -in the case of the Forex market this is happening at every minute of the day across seas and continents.  So how do you know the money is ‘clean’ (in other words not obtained through criminal acts)?

Well, all financial services must comply with anti-money laundering regulations.  If a company is not compliant with these, do not touch them with a barge pole.  Or at least, find out why or go to the FSA (or main country regulating body) and ask them.

We all want our money to be in safe hands.  An area which is constantly under the spotlight for money laundering is the money transfer area – Western Union and their competition are always having to keep a close eye on clients and transactions.  Make sure you use a legitimiate service.