You can see our currency news market reports, published daily, on this page. Jargon-free and with our archive back to 2011, bookmark this page to stay on top of the latest currency news relating to your transfers.

Market Commentary – 04/11/08

28 July, 2011


Market Commentary – 04/11/08 – Simon Eastman – Senior Broker

The past few days trading have been dictated by speculation over UK interest rates. Due to the current economic climate and fears of a deep recession, markets have been calling for an interest rate cut when the Bank of England meets this Thursday.

Gordon Brown requested drastic action by the governor Mervyn King to help bolster the flagging economy and the markets has widely expected another 50 point cut in rates, from 4.5 percent to 4 percent.

Yesterday exchange rates were affected very little by the purchasing managers index figures which showed the UK manufacturing sector contracted for the sixth consecutive month as demand for products both here and from abroad tipped the sector into recession (Recession is signified by two consecutive quarters of negative growth).

During afternoon trading the tables turned as the pound took a battering across the board. The cause, market speculation of a 1 percent cut in interest rates rather than just a 50 point cut. The pound dropped 1.5 percent against the euro and at one point was down 3 percent against the US dollar, 3.5 percent against the Canadian dollar and over 3 percent against the Australian and New Zealand dollars.

Although some analysts in the market are not putting the pounds weakness down to the chance of a cut but more to the lack of lack of decisive action by the central bank in helping the economy.

“There’s been a lot of apprehension ahead of the BoE meeting, and in our view with good reason,” said Robert Minikin, senior FX strategist at Standard Chartered. “It’s the sluggishness of the policy that’s been affecting sterling. The problem is not whether they move 50 or 100 basis points; the problem is that they should have been easing aggressively, probably since early 2008,” he added.

So with the US cutting their interest rates last week by 50 points, the Reserve Bank of Australia cutting rates by 75 points today, the markets now await Thursday for interest rate decisions by the Bank of England and European Central Bank. Cuts should help to boost the economy but whether more will be needed will become apparent in the coming weeks.

If you are in the process of buying a property abroad these uncertain volatile currency markets could unravel your plans so speak with a Currency Index broker today to discuss the options available to you, like a forward contract, used for eliminating the market risk.

If you have any question relating to the content of the above article or for some friendly guidance on your upcoming currency purchase please contact Simon Eastman, Senior FX Broker at Currency Index on 020 7903 5444 or email

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Weekly Market Outlook

28 July, 2011


Monday 29th November 2010 to Friday 3rd December 2010

This week the main story is likely to be the continuing developments of the Irish bank bailout – and whether there will be any knock-on effects elsewhere in the Eurozone. For now the Euro has started to strengthen.

Elsewhere we have economic releases in Australia, Canada, the USA and Switzerland, all likely to affect rates for sending money abroad. Contact your foreign exchange broker for the latest rates and news.

Monday 29th
0930 – UK mortgage approvals & money supply
1000 – Eurozone economic & consumer confidence
1330 – Canadian current account

Tuesday 30th
Overnight – UK consumer confidence
0030 – Australian current account
1000 – Eurozone unemployment & CPI inflation
1330 – Canadian GDP
1500 – US consumer confidence

Wednesday 1st
0030 – Australian GDP
0700 – UK Nationwide house prices
0900 – Eurozone manufacturing inflation
0930 – UK manufacturing inflation
1500 – US manufacturing & construction

Thursday 2nd
0030 – Australian retail sales & trade balance
0645 – Swiss GDP
1000 – Eurozone GDP & PPI inflation
1245 – Eurozone interest rate decision
1330 – US jobless claims

Friday 3rd
0815 – Swiss CPI inflation
1000 – Eurozone retail sales
1200 – Canadian unemployment
1330 – US non-farm payrolls & unemployment rate

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Sending Money Abroad

28 July, 2011


Buying a property abroad, bringing money back to the UK, or sending funds to a supplier, can be complicated. Thankfully, at Currency Index, we are on hand to help you, whether you are buying a villa in Valencia, or importing ink from India.

Click below for our country-by-country guides which will tell you all you need to know about the currency and local banking procedures.

Call us on 0800 043 2623 (or +44 1923 69 53 53 from abroad), or click here to make an enquiry online. 

Buying Euros?

Click here to find out how Currency Index Ltd can supply the very best Euro Exchange Rates.

Sending money to Austria
Sending money to Australia
Sending money to Belgium
Sending money to Bulgaria
Sending money to Canada
Sending money to Cape Verde
Sending money to The Caribbean
Sending money to Czech Republic
Sending money to Cyprus
Sending money to Denmark
Sending money to Dubai (UAE)
Sending money to Egypt
Sending money to Finland
Sending money to France
Sending money to Germany
Sending money to Greece
Sending money to Hungary
Sending money to Ireland
Sending money to Italy
Sending money to Luxembourg
Sending money to Malta
Sending money to Montenegro
Sending money to Morocco
Sending money to New Zealand
Sending money to Norway
Sending money to Netherlands
Sending money to Portugal
Sending money to Slovakia
Sending money to Slovenia
Sending money to South Africa
Sending money to South America
Sending money to Spain
Sending money to Sweden
Sending money to Switzerland
Sending money to Turkey
Sending money to USA

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About Us

28 July, 2011


Currency Index Ltd. is part of the group of companies.

Company background is the UK’s fastest growing overseas property website with hundreds of agents and developers signing up to advertise on a cost per lead basis since the site launched on 17 September 2007. The website now features hundreds of thousands of properties for sale and rent, across more than 4,000 destinations worldwide, as well as in the UK.

As part of the group of companies, Currency Index Ltd is able to offer additional benefits to its clients. We achieve this by bringing many of the services, required when purchasing property overseas, under one umbrella. We are also able to help clients who have not used, by giving them access to this money saving service as well.

Saving you money
As a client of Currency Index, you can save money when transferring funds overseas, either for property purchases or simply for general use. You are able to achieve this because we offer our clients access to commercial exchange rates which are not normally available to private individuals – rates which are far more competitive than the levels normally offered by high street banks.

Meeting your personal needs

Choosing Currency Index for your foreign exchange transactions means you will also benefit from a set of services specifically tailored to meet your personal needs. This bespoke service is aimed at making sure your exact requirements are carefully considered and the most appropriate options offered accordingly. In this way, we will ensure that your currency is sourced at the right time and in the right way for you.

Financial Security

As an execution only organisation, we do not lend, borrow or speculate with any funds, we are therefore unaffected by market movements or problems, in contrast to banks.

We take the responsibility of handling your funds very seriously, and are fully regulated and registered with the relevant authorities, for your complete peace of mind.
  • Authorised and Regulated by the Financial Services Authority (Firm Reference 504353)
  • Registered with HM Revenue and Customs as a Money Service Business (Registration Number 0000012358614)
  • Safeguarded bank accounts held with Barclays Bank plc in the UK
  • Registered with the ICO under the Data Protection Act 1998 (Registration Number Z1495263)
  • Members of the UKMTA
If you would like more information on our processes and relevant expertise, just ask.

Telephone UK: 0800 043 2623 
International: Your UK dialling code + 44 1923 777 562Fax: 01923 777 994 

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This week’s currency news – GDP out tomorrow

28 July, 2011


By far the most important data release this week in the UK will be Tuesday’s GDP figure – the first estimate of growth in the UK economy from March to June. There is a real worry that we could see a negative result.

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GDP slows to 0.2pc, but stays above zero

28 July, 2011


This morning’s first estimate of GDP for March to June showed a 0.2% growth in the economy – hardly signs of an imminent economic recovery, but at least a positive figure which has eased fears of a ‘double dip’ recession.

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