IMS FX FOREIGN EXCHANGE

Tel: 0207 183 2790

Monday, 29 November 2010

Foreign Exchange Best Rates Buy and Sell Currency

IMS FX MORNING REPORT for Monday 29th November 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5606
POUNDS TO EUROS 1.1804
POUNDS TO AUSTRALIAN DOLLARS 1.6175

EUROS TO US DOLLARS 1.3217
EUROS TO POUNDS 0.871
EUROS TO AUSTRALIAN DOLLARS 1.3702

POUND HEADLINES:

Mortgage approvals and lending data, as well as latest
money supply statistics, are the main UK releases today.
UK consumer credit will also be released this morning. We
see net consumer credit remaining only slightly positive in November. The
key point here is that uncertain job prospects & stubbornly high inflation
are likely to weigh on real income growth & reduce the demand for credit.
UK money supply for October month-on-month comes in at
0.7% and year-on-year -0.7%

EURO HEADLINES:

In the eurozone, economic confidence indicators and the
publication of updated macro-economic forecasts from the EU Commission are
the key scheduled events today.
The euro was steady against the dollar as markets opened
a day after European ministers agreed a bail-out for the Irish Republic.
France and Germany have also said the Republic of Ireland bail-out should
draw a line under its debt crisis.
Italian PPI for October comes in at -0.2% missing
expectations of 0.2%. The year-on-year figure is 4.0% missing expectations
of 4.2%.

US DOLLAR HEADLINES:

Sterling hit a two-month low against the dollar on Friday
on concern about the UK's exposure to eurozone debt as fears grow that the
crisis could spread beyond Greece and Ireland.
Focus this week turns towards Novembers employment
numbers. Recent evidence of an improving US economy has worked in the
dollars favour.
Non Farm payrolls data this week is likely to indicate a
further improvement as currencies look set to struggle against the dollar.

If you need to buy, sell or make an international payment today then please
call me for a free quote.

Kris Charalambides

Tel: 0207 183 2790

Friday, 26 November 2010

Buy & Sell Currency Euros Dollars Pounds

IMS FX MORNING REPORT for Friday 26th November 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5699
POUNDS TO EUROS 1.1851
POUNDS TO AUSTRALIAN DOLLARS 1.6265

EUROS TO US DOLLARS 1.3247
EUROS TO POUNDS 0.8438
EUROS TO AUSTRALIAN DOLLARS 1.3724

POUND HEADLINES:

MPC's Adam Posen has said that he was concerned about
support given by the MPC for the governments plans to cut the budget
deficit. Mr Posen told MP's on the treasury committee that he and some
colleagues had made their concerns known to the governor but he admitted
this was a minority view.
The MPC has been split over monetary policy at its last
two meetings. Mr Posen has called for £50bn of extra QE - the banks main
stimulus measure whilst Andrew Sentance favoured raising interest rates from
0.5% to 0.75%, while the other seven members voted for no change in rates
and no additional stimulus spending.
Retail sales rose in November. The figure is 10 points
higher than analysts expected, but below the 49% recorded in September, a
six year high.

EURO HEADLINES:

Today we have the release of preliminary German CPI for
November and eurozone M3 money supply data which will provide
Eurozone M3 money supply has shown signs of improvement,
but the rate of growth this year still remain subdued. The fragile state of
eurozone banks and net new lending, especially those in periphery countries
such as Greece, Ireland and Spain, will make ECB policy makers more
apprehensive about withdrawing support to the sector.
Growing sceptism around both Greece and Irelands future
economic growth prospects, and the feasibility of projected deficit
reduction programmes this week, continues to drive fears of contagion
amongst other periphery countries such as Portugal and Spain.

US DOLLAR HEADLINES:

A relatively quiet day for data releases post the
Thanksgiving holiday leaves markets more susceptible to events unfolding in
the eurozone.

If you need to buy, sell or make an international payment today then please
call me for a free quote.

Kris Charalambides

Tel: 0207 183 2790

Thursday, 25 November 2010

International Money Transfers Euros Pounds Dollars

IMS FX MORNING REPORT for Thursday 25th November 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5783
POUNDS TO EUROS 1.1848
POUNDS TO AUSTRALIAN DOLLARS 1.6081

EUROS TO US DOLLARS 1.3320
EUROS TO POUNDS 0.8439
EUROS TO AUSTRALIAN DOLLARS 1.3571

POUND HEADLINES:

Yesterdays Q3 GDP figures have shown that the economy
grew 0.8% between July and September.
The ONS (Office of National Statistics) said exports of
goods & services rose 2.2% while imports rose 0.7%. However growth in
government & household spending slowed.
After yesterdays second estimate for UK Q3 GDP, which was
unchanged, attention now turns to the HM Treasury Committee hearing on the
Bank of England's November Inflation Report. Bank of England's governor
Mervyn King and MPC members, Posen and Sentance, who represent the
increasing polarised view among the MPC Committee, are scheduled to speak.

EURO HEADLINES:

The Irish Government has unveiled a range of tough
austerity measures designed to help solve the country's debt crisis. Among
the spending cuts and tax rises are a reduction in the minimum wage from 1
euro cut to 7.65 euro's an hour, a new property tax and thousands of public
sector job cuts. The 4 year plan is designed to save the state 15bn euro's
which equates to about 9% of the country's total economic output.
German business confidence has hit its highest level
since reunification, providing further evidence of the country's strong
economic recovery, the IFO business climate showed. The IFO business climate
Index climbed to 109.3 in November, up from 107.7 the previous month,
defying analysts predictions of a slight fall hitting a 20 year high.
Following on from Irelands problems the German confidence
figures provided a much needed boost in light of the debt crisis which also
threatens to spread to other European countries with high budget deficits.

US DOLLAR HEADLINES:

US household incomes and spending rose in October despite
continuing housing market woes.
Personal income was up 0.5% versus a month earlier, with
consumer spending up 0.4%, the commerce department said. The news along with
a surprise drop in unemployment benefit claims helped boost the dollar
yesterday.
New home sales fell 8% in October from the month before
on a seasonally adjusted basis. Total sales for the month were the lowest on
record, beating a previous record set in 1981. This follows a more
encouraging report on existing home sales in October on Tuesday, which
showed sales up 8.4% versus a year earlier, with the inventory of unsold
housing falling versus the previous month.

If you need to buy, sell or make an international payment today then please
call me for a free quote.

Kris Charalambides

Tel: 0207 183 2790

Wednesday, 24 November 2010

BEST FOREIGN EXCHANGE RATES

IMS FX MORNING REPORT for Wednesday 24th November 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5926
POUNDS TO EUROS 1.1727
POUNDS TO AUSTRALIAN DOLLARS 1.6223

EUROS TO US DOLLARS 1.3581
EUROS TO POUNDS 0.8527
EUROS TO AUSTRALIAN DOLLARS 1.3834

POUND HEADLINES:

Today's second estimate of UK GDP for the 3rd quarter is
unlikely to detract attention from events elsewhere is Europe. Nevertheless,
the detail should make for interesting reading as the market seeks to make
sense of the stronger than expected 0.8% rise in UK GDP last quarter.
UK GDP Q3 quarter-on-quarter did come in as expected at
0.8%. The year-on-year figure also met expectations coming in at 2.8%. The
final GDP report is due on the 22nd December.
UK exports for the 3rd quarter came in at 2.2% beating
expectations of 1.5% and UK imports again for the 3rd quarter also came back
better than expected at 1.7%.

EURO HEADLINES:

Today's German IFO will provide another steer as to how
Europe's largest economy is faring. We expect a modest deterioration,
although concede that after yesterdays stronger Manufacturing PMI reading
there is an upside risk too.
The Irish Government is set to publish an austerity plan
required for its EU and IMF led bail-out. This follows another day of market
angst, with shares down sharply on Tuesday and the euro 1.9% lower against
the dollar.
Also on Tuesday, ratings agency Standard & Poor's
downgraded the Republic , from AA - to A, due to the large sum involved in
the rescue package from the European Union & The International Monetary Fund
(IMF).

US DOLLAR HEADLINES:

Today sees the release of a raft of US data, including
durable goods orders, jobless claims, personal spending, new home sales and
consumer confidence. On balance the overall tone of these should be a little
stronger, albeit scant respite ahead of the Thanksgiving holiday on
Thursday.
The Federal Reserve has cuts its 2011 growth forecast for
the US economy the latest FOMC minutes reveal. The Fed expects growth of 3 -
3.6% next year down from its previous of 3.5 - 4.2% estimate. It also
forecasts higher unemployment and lower inflation than before.
The minutes of the Feds November meeting show that
support for QE policy was almost unanimous, with only one member voting
against.

If you need to buy, sell or make an international payment today then please
call me for a free quote.

Kris Charalambides

Tel: 0207 183 2790

Tuesday, 23 November 2010

BUY SELL CURRENCY EUROS DOLLARS POUND

IMS FX MORNING REPORT for Tuesday 23rd November 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5926
POUNDS TO EUROS 1.1727
POUNDS TO AUSTRALIAN DOLLARS 1.6223

EUROS TO US DOLLARS 1.3581
EUROS TO POUNDS 0.8527
EUROS TO AUSTRALIAN DOLLARS 1.3834

POUND HEADLINES:

The pound did initially fall against the euro yesterday
following the Irish bailout but has now climbed back above 1.17 as the
bailout failed to uplift market sentiment
Tomorrows key data for the UK is the 2nd estimate of
Gross Domestic Production (GDP) for the 3rd quarter.
Nationwide have warned that house prices will likely fall
further. The lender has come out saying potential buyers were being deferred
by the uncertainty generated by the governments public spending cuts. "In
the housing market, conditions have weakened noticeably over the last six
months, with both a decline in buyer demand and a modest downward trend in
house prices" the Nationwide Building Society said.

EURO HEADLINES:

In the eurozone, we look for Novembers preliminary
eurozone PMI surveys (manufacturing & services) to show a moderately slower
pace of expansion.
Shares have fallen in Europe and Asia on fears that the
Irish Republics debt crisis could spread to other European countries with
high budget deficits. Investors are concerned that other countries with high
levels of debt, in particular Portugal & Spain, may also have to seek
financial help.
The debt crisis will put pressure on the euro & will keep
the dollar stronger, and that will put pressure on equity markets, said Ben
Kwong Man Bun at KGI securities in Hong Kong.

US DOLLAR HEADLINES:

Today's data for the US sees the release of Novembers
FOMC minutes, the second estimate of Q3 GDP and October existing home sales
are likely to take centre stage.
The minutes will shed light on the Feds decision to
reinstate its quantitative easing programme by purchasing $600bn of
Treasuries by end -Q2 next year.
Tomorrow we have a raft of data from the US in the form
of Durable Goods orders, Personal Income, Personal Spending, Initial Jobless
claims and New Home Sales.

If you need to buy, sell or make an international payment today then please
call me for a free quote.

Kris Charalambides

Tel: 0207 183 2790

Monday, 22 November 2010

BEST EXCHANGE RATES EUROS POUNDS DOLLARS

IMS FX MORNING REPORT for Monday 22nd November 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.6080
POUNDS TO EUROS 1.1697
POUNDS TO AUSTRALIAN DOLLARS 1.6175

EUROS TO US DOLLARS 1.3747
EUROS TO POUNDS 0.8549
EUROS TO AUSTRALIAN DOLLARS 1.3828

POUND HEADLINES:

Sterling has dropped against the euro following reports
that the UK will be stumping up £7bn in loans to the Irish Republic. This
was the first weekly decline against the Euro in four weeks.
The British Pound did fall against the dollar on Friday
but with news from Ireland over the weekend this has boosted risk appetite,
therefore taking sterling back through $1.60 this morning.
Second estimates of Q3 GDP will be released on Wednesday.
A strong report will help boost the pound.

EURO HEADLINES:

European shares and the euro have both risen in value, as
markets welcomed the bail-out for the Irish Republic. It comes as Dublin is
set to begin the formal process of applying for up to 90bn Euros of European
Union-led loans agreed on Sunday.
The total level of loans the UK will give the Irish
Republic is expected to be about £7bn. Chancellor George Osbourne said "that
it was in the UK's national interest to help the Irish Republic".
In terms of the calendar today, eurozone consumer
confidence and ECB President Trichets participation in a European parliament
debate at 16:00 GMT will receive some attention.

US DOLLAR HEADLINES:

Following Fridays speech to the ECB 'US Federal Reserve
Chairman Ben Bernanke has criticised countries like China that run large
trade surpluses'. He said that by buying dollars, these countries were
hurting the US recovery & the global economy with it. He also defended the
Feds policy of 'quantitative easing', which has been criticised by China &
Germany.
China, Germany & others have attacked the Federal Reserve
in recent weeks for its decision to purchase another $600bn of US government
debt in a bid to stimulate the US economy. They say that the policy will
unfairly devalue the dollar in currency markets, and that could lead to
inflation and asset bubbles elsewhere in the world. The Fed Reserve bought
$2.169bn of treasuries on Friday as part of its asset-purchase programme
aimed at lowering borrowing costs.
With thanksgiving approaching and a light week for data
the USD looks likely to stay confined to recent ranges against the major
currencies.

If you need to buy, sell or make an international payment today then please
call me for a free quote.

Kris Charalambides