Great British Pound currency rate forecast for 2016

For those who follow currency news, it is, perhaps, restating the obvious that the British pound has been through its fair share of highs and lows in recent months as the Brexit vote draws ever closer. It doesn’t taken advanced currency exchange software to realise that the currency markets are in a period of turmoil. As polls continue to demonstrate a constantly shifting balance of influence between the ‘remain’ and ‘leave’ camps, the pound has sent for-eign exchange traders down a rabbit hole of frantic phone calls and urgent conversations with clients.

As we saw in the opening days of June, the pound was unable to achieve the bullish start that analysts had hoped for. As the ‘leave’ camp gained greater traction amongst voters, ex-change traders were hesitant to buy into the currency due to the potential for massive de-clines in the short term. That being said, a variety of metrics have been issued recently, such as the May Construction and Services PMIs, which may help to offset the negative effects of Brexit-inspired political and economic insecurity.

Perhaps yet another reason that the pound has been unable to shake off the shadow of Brex-it is due to the fact that typical campaigning methods used by politicians and political estab-lishments – such as the Bank of England – have failed to impress voters who have long ago grown cynical regarding their own representatives. Although outright fear-mongering on be-half of both parties has helped to serve as a ‘brute force’ influencer on some undecided vot-ers, the fact remains that deeply held convictions regarding immigration, economic produc-tivity, and a general sense of British identity will determine how this vote ends, not the base-less pandering of lobbyists and other promoters.

Of course, the pound will also be affected by various news being reported out of the US, in-cluding the monthly non-farm payroll data. Federal Reserve chair Janet Yellen has indicated that any move to raise interest rates in the short-term will likely be influenced and moulded by the outcome of Brexit, which is reasonable given the extent to which either outcome will in-fluence the economy. Those hoping to stay abreast of current rates can do so using any one of several industry standard currency exchange software packages.

The differences between an online forex software to broker forex

Trying to introduce a newly minted investor to the forex marketplace can be quite challenging. Unlike standardised stock exchanges, the world of foreign exchange is a dynamic, round-the-’clock affair, filled with a sophisticated array of strategies and tactics which contain their fair share of risk and reward. In today’s investing environment, there are two predominant forms of forex trading, those being online forex software and broker-managed forex accounts. Depending upon your previous experience with forex and your level of interest in the day-to-day workings of your forex holdings, each of these two forms of trading may be a perfect match for your needs. With that in mind, we’ve taken the time to outline the key differences between these two platforms in order to help you determine what your next steps should be.

On a very basic level, the primary difference between a broker-managed forex account and online forex software is the level of oversight by investment professionals. As could be expected, broker-managed accounts are managed exclusively by a seasoned foreign exchange broker. In exchange for expert-level advice, casual investors will be required to pay their broker through either a commission basis or recurring fee. Although this will likely reduce profits over time, it’s important to note that the overall gains secured through this form of collaboration may exceed those obtained by a casual investor with little to no knowledge of the forex marketplaces who chooses to manage their own account.

For those who feel very comfortable with the fine details of the forex marketplace, forex online software will likely prove to be an excellent alternative to a broker managed account. Using forex online software, investors can access virtually all of the data that brokers rely upon to make their strategic decisions for clients. Although investors who choose to rely on software instead of a broker will likely be unable to solicit advice from investment professionals, they will also be the exclusive recipient of their profits. This is a significant advantage which will most appeal to those with extensive experience in this marketplace.

Regardless of where you may find yourself in the process of determining whether to hire a broker or become your own day trader, it’s worth taking the time to download all available trials of forex online software so that you can better assess the current state of the industry. We wish you the best of luck in your investment endeavours!

Exchange Rate Forecast for GBP Post-Brexit

It should come as no surprise that recent developments in British politics have proven to be a catalyst for significant fluctuations across a wide array of financial markets. The GBP has proven itself to be particularly sensitive to a post-Brexit reality, with a dramatic free fall in currency value occurring as the vote began to swing towards a Brexit victory. Now that the vote has passed and lawmakers have vowed to heed the will of the people on this issue, the next step for the British government is to trigger the much-discussed Article 50, which will kick off a two-year process of formal negotiation before the UK is no longer an EU member. Precise-ly when Article 50 will be executed however, is unknown, and this is uncertainty is keeping the GBP in rather tepid water as investors remain hesitant as to whether or not a re-investing is in their best interest. Although currency exchange software is not, in itself, a source of knowledge or advice, the charts for recent GBP activity found in these programs will provide no short supply of drama and suspense.

This is not to say, however, that the GBP has not regained some its value since hitting a mul-ti-decade low the day after the vote was completed. In fact, it could be viewed as some form of optimism that the GBP was able to weather as well as it did not only the Brexit results, but also the sudden resignation of David Cameron, a credit downgrade, and bitter infighting amongst members of Parliament. With this in mind, it seems reasonable to assume that, alt-hough progress may be slow, the GBP will continue to regain value as the world comes to grips with the new face of the EU and a starkly independent Britain.

In the more immediate future, many fx investors are waiting to see if the Bank of England opts to pursue a rate cut as a means to encourage business growth and investment in this critical time. Monetary policy easing is definitely one method by which supports can be erected to prop up the GBP and ensure that future declines will be limited in scope. At the moment, the GBP is hovering comfortably at 1.32 GBP / USD. Although many professionals are somewhat bearish regarding future price movements, it is widely acknowledged that the Bank of England pending announcements will significantly influence both short and long-term pricing. Those with currency exchange software are advised to watch the GBP closely in the upcoming weeks.

The Referendum and the GBP

Now that Brexit has finally arrived, it’s possible to dispense with the endless series of predictions and hypotheses related to currency issues and discuss the concrete reality of a post-referendum British pound. For many of us, it doesn’t take sophisticated forex software to predict that the GBP would suffer in the immediate aftermath of this landmark decision. In keeping with the assessments of virtually all analysts, the Pound initially experienced a tre-mendous pricing shock as it became increasingly clear that the referendum was swinging away from the “remain” camp towards a definitive “Leave” vote. As the tallying of votes neared to a close, investors fled from the Pound, causing its value to plummet to levels which have not been seen for the past several decades.

Fortunately for both investors and the economy at large, however, the Pound has begun its path to recovery. Coming off of an immediate post-Brexit low which involved nearly 11% be-ing shaved off the Pound, the British currency has experienced a largely optimistic rebound, sitting currently at nearly 1.33 GBP / USD. It will be quite interesting to observe how the GBP will react to international and domestic policy maneuvers in the upcoming weeks. A number of significant decisions are quite likely looming in the short term, including whether or not the Bank of England will issue a rate cut in an effort to reinforce economic stability in this volatile period.

Although much of British politics have been unpredictable and turbulent, experts are in agreement that the GBP is behaving within clearly defined and expected patterns, at least for the moment. Given the fact that the UK has expressed that they will not initiate divorce proceedings from the EU until the beginning of the new year, it stands to reason that this de-lay will likely mitigate some of the risks associated with this currency. That being said, it is, perhaps, implausible to believe that the GBP will recover significantly or even approach pre-Brexit value until some sort of decisive announcement is made relating to not only the time-line for the pending Brexit, but also the finer details which will properly illuminate how this his-toric moment will influence the political, economic and cultural spheres of the country at large.

Although many experts continue to express their skepticism regarding the short-term outlook for the GBP, it may be worth keeping a close eye on to see if any forthcoming politi-cal actions catalyse investor enthusiasm. For those with industry-standard forex software, a concise, up-to-the minute evaluation would be immensely interesting to observe

Online remittance saves 3%

Money remittance is, by any standard of measure, one of the most important elements of today’s globalised economy. The ability for individuals to quickly and easily transfer money to all corners of the globe has allowed countless men and women to pursue lucrative professional opportunities far from their home country while still allowing them to support any family members who may have been unable to accompany them on their journey.

In the earliest days of remittance, the convenience of quickly sending money abroad came at a price. Customers were often forced to pay exorbitant service fees in order to utilise remittance, which often dramatically cut into the amount of funds they were able to send abroad. Because of this, remittance was often undertaken sparingly so as to maximise the sum total being sent abroad. In today’s climate of innovation and disruptive technology, however, new development in remittance technology are helping customers save valuable funds by dramatically lowering the service fees attached to the transaction. In many cases, those utilising online remittance software are able to save up to 3% over traditional remittance services.

The advantages of online remittance and online money transfer are not only confined to cost savings. Given the fact that a large number of online remittance providers allow customers to transfer funds from their personal computers, these systems virtually eliminate the lengthy process of travelling to a bank, requesting funds, and then delivering these funds to a remittance provider. For many busy individuals, the old expression “time is money” has yet to fall out of fashion. Online remittance helps ensure that these transfers can occur without compromising the daily “to-do” list.

One of the most common questions regarding online money transfer and online remittance involves security. Is money safe when it is being transmitted online to a foreign bank account? Although security systems vary considerably between service providers, the largest remittance services are equipped with state-of-the-art protections in order to ensure that funds are not wrongfully obtained by cyber criminals.

As you can see, online remittance is a popular and import service for workers around the world! For those who have yet to explore the world of online remittance and the various services currently available, there truly has never been a better time! We hope you have a convenient and positive experience with whichever remittance service you choose!

How remittance affects a country’s economy

For anyone who follows global business, it should come as no surprise that the volume and frequency of international remittance in the past few years has grown tremendously. This is, of course, due in large part to the ever-increasing population of foreign born workers in countries around the world who are sending portions of their wages back to friends and family in their location of origin. The act of remittance, when analysed from a variety of perspectives, has proven itself to be immensely beneficial in a variety of ways.

For developing nations, remittance has proven itself to be a crucial lifeline through which foreign currency is routinely injected into their domestic economy. This, of course, often leads to substantive gains in overall economic health and an increased in speed of modernisation and other development projects occurring within the economic sphere. To put this in perspective, studies undertaken in 2014 revealed that nearly US $435 billion were being transferred as part of remittances on an annual basis. This number is likely to have grown significantly since then!

That being said, if a country is receiving a large amount of remittance income, it is quite likely that certain other indicators are becoming increasingly valid, such as a decline in the domestic manufacturing sector and thus, a dip in GDP and per capita income. While remittance may help slow this process, it is important to remember that remittance only cannot sustain an economy. If a country reaches a point where remittances have become a critical component of economic health, this is a sure sign that other domestic factors are in dire need of assistance.

Frequent use of remittance is also a sign that a country’s less wealthy population has become marginalised by their domestic banking system. Given the fact that remittances can occur without the use of a bank, many receivers are opting for third-party providers in order to avoid the lofty fees imposed by larger institutions. If such actions are occurring, it is most likely a sign that money transfer software in domestic banks is considered out-of-reach for many citizens.

Regardless of the positive or negative aspects of money transfer, it seems quite reasonable to assume that these services will become increasingly important over the foreseeable future! With that in mind, learning all there is to know about money transfer will quite likely pay large dividends for those who are preparing for a more globalised future economy.

How to know the reliability of the money transfer company

Money transfer is easily one of the most important and critical services for individuals working around the world. Particularly in situations where individuals are employed in a different country then their official residence, money transfer often provides a much needed ‘lifeline’ by which family members can receive critical financial resources. With demand often comes supply, and in situations of immense demand, it is not uncommon for more dubious service providers to become involved in order to reap a quick profit. The money transfer industry is not immune from these issues of credibility.

How can you properly determine whether or not you should trust a currency exchange company? This is a question that individuals all over the world have to ask themselves on a near daily basis. Perhaps surprisingly, one of the elements of a business’s “trustworthiness” which is easiest for consumers to evaluate is its reputation. Online review sites are widely available, and typically provide customers with an honest, comprehensive overview of a business as viewed by its customers.

Other parameters can also directly influence how you perceive the reliability of a money transfer company as well. These are not directly related to customer sentiment, but instead, are linked to the fine details of the operation aspects of a business. One of the most important examples is exchange rates. Although the buy/sell price for currencies fluctuates noticeably throughout the business day, customers should always do their research before entering into a transaction with a business in order to ensure that they are not losing out on funds due to manipulative exchange rates.

Yet another similar aspect of a money transfer company that should be thoroughly explored before doing business is transaction costs. One of the most common ‘tricks’ that currency exchange services play on their customers is offering highly competitive exchange rates which, unfortunately, are paired with staggeringly high transaction fees. Although customers think they are receiving a good deal, these costs dramatically eat into the sums they receive.

As a general rule, customers should always try to find as much information as is available about a money transfer business. No detail is unimportant. Whether it’s the number of years a money transfer has been in existence or the number of currencies they currently offer, this information may influence your final decision on whether or not they can be trusted. Whatever decision you make, it’s always best when that decision is informed!

Send money in-app while chatting with friends

It seems that the world’s leading technology providers are locked into an intense race-to-finish to see which can become the most popular money transfer service. What began as an enterprise largely dominated by PayPal, online money transfer software is now a volatile and competitive field, made even more cutthroat following Facebook’s full implementation of in-app, in-chat money transfer bots.

The new Facebook Messenger bot launched by TransferWise allows individuals to quickly transfer money to friends and family in the UK, US, Canada, Australia and Europe without leaving the messenger app. As could probably be expected, this technology is proving to be immensely popular among social media users who are seeking a more vertically integrated approach to their online experience.

Although the TransferWise bot is currently only available in a select number of countries, representatives from the company have explained that this initial roll-out is only one step in a larger plan which will see the technology implemented in over 50 countries worldwide. At this stage, it seems not outside the realm of possibility that the TransferWise bot will give more established competitors a serious “run for their money”.

In terms of operational details, the TransferWise bot operates by asking users a series of short questions which determine how much money is being sent, who it is being sent to, and where the money will come from. At this point, the bot takes over and completes the transaction for the client. With largely industry-standard exchange rates and fees, the TransferWise bot delivers exceptional performance and results without forcing customers to pay an annoying premium for them.

For those who are interested in learning more about this powerful money transfer software or other products like it, a simple internet search will likely yield a handful of viable options. More than anything, customers should be diligent in order to ensure that whatever service they choose does not charge them excessively for transactions. Performance and affordability should always go hand-in-hand.

Your cheapest option for money transfer

Online money transfer has quickly become one of the most important aspects of the digital economy today. For individuals around the world, money transfer provides a quick and effi-cient way of routing financial resources to families and friends in foreign countries. Particular-ly in situations where someone may be working in a different country than their current resi-dence, money transfer helps ensure that these critical financial lifelines are preserved.

Given the extremely high demand for online money transfer today, a myriad of businesses have entered this arena, making it one of the more competitive industries and over-saturated marketplaces in existence. As a customer, finding the perfect money transfer service can be difficult, particularly if you do not know which specific parameters of the industry you should be researching and comparing. With that in mind, we hope that this brief guide will provide valuable insight into the world of money transfer and help ensure that you have the best ex-perience possible.

Perhaps the most conventional form of online money transfer available today is the bank transfer. If you have an established account with any larger banking institution, the chances are good that you will have access to a variety of online money transfer tools. That being said, do not expect these transfers to be offered at no charge. It is quite common for banks to charge between £5-15 per transfer. As you can see, these expenses will add up very quick-ly, particularly if you are expecting to complete transfers on a frequent basis.

For those seeking an alternative to online bank transfers, services such as TransferWise may be the ideal solution. Studies have shown that TransferWise typically provides a highly competi-tive exchange rate on major currencies, particularly in scenarios where larger sums are being transferred. Although customers transferring less than £400 may be forced to pay slightly high-er transfer fees, the widespread popularity of this service is a testament to its unwavering com-mitment to performance and affordability.

CurrencyFair is yet another option that may customers around the world have chosen to use. Although the base exchange rates for CurrencyFair are typically less competitive than Trans-ferWise, they also offer reduced transaction fees, helping to reduce the overall cost of the ser-vice. It is always important to remember that exchange fees and transfer fees figure prominently into the final cost of a transfer. Ignoring one of these parameters could lead to unpleasant sur-prises over time.

If you are still in doubt as to which service may be the best for your needs, we highly recom-mend that you take the time to survey customer reviews and industry insights into these prod-ucts. There is no shortage of reviews regarding the latest money transfer services. This infor-mation can prove to be invaluable for customers who may be entering this world for the first time and do not have the prior knowledge they need to evaluate the merits of a service based on more technical details. If , for example, a money transfer service has repeatedly failed to deliver funds in a timely manner or at the agreed-upon-rate, this information will likely be available. Reviewers are typically more than willing to divulge both the best and worst experiences they have had with money transfer services. This can only work to the benefit of future customers such as yourself.

If you have any additional questions about money transfer services, we would encourage you to speak directly to representatives from the service provider you are researching. A simple phone call could reveal a variety of insights that could help facilitate a smoother decision making pro-cess. Good luck!

Moving Currency Can Affect Your Investments

With the triggering of Article 50, following the Brexit referendum, the pound fell in value and is going to have many ups and downs, in the near future. A weak pound hits everyone hard, especially if they want to travel, or do business, outside of the UK. The imported goods in the stores are seeing higher prices for consumers in the UK, making their sterling stretched to maintain their lifestyle.

Of course, the weakening of the pound is going to affect purchases as well as travel plans. That might be good news for some businesses in the UK, as they see more people staying home for their vacations and, perhaps, buying locally-sourced goods in the shops.

Shopping and travelling outside of the UK, with the weakened pound, impacts people immediately. It is something that is noticed right away. When it comes to investments, people should also be aware of where their money is. Many investments have currency exposure in other countries and the movement of that currency can cost one a lot of money if they are not proactive in their investments.

Companies and people who have businesses with overseas operations can benefit when converting or moving earnings back to the UK. They will most likely see an increase in profits due to the conversion rate. However, investments that are solely in the UK will see their importing costs, along with fuel and other commodities, rise.

There are mixed views regarding the outlook for the pound and it is best to have a diversified portfolio for your investments. A diverse portfolio can spread your money across a variety of investments and goegraphies. This will help to achieve the best balance between return and risk. Reviewing your investments regularly is a good practice to have, if you do not already do so.

Finding a fund manager is a good idea if you do not have the time to research or manage your investments. A strategy called ‘hedging’ is seen in some funds and it helps to reduce the impact of currency movements. This strategy is usually best left to the professionals.

Yes, turbulent times are upon us and many of our investments are going to be influenced by Brexit and elections in France and Germany, among other things. Hedge your investments, talk to professionals and do some research. It will pay off in the end.

Category: Money Exchange