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Take a pinch of negative retail sales, a dash of high unemployment and add to a £15.9 billion public sector net borrowing requirement. Be sure to squeeze household spending then rub in high inflation, low wage growth, public sector job cuts and crippling austerity measures. Combine the two mixtures, bring to the boil for a few months and serve on a platter of Eurozone debt contagion and a slowdown in global growth. If that isn’t a successful recipe for a recession I don’t know what is.

The IMF told us little that we don’t already know when they lowered their growth forecasts for the UK last week and there are certainly more tough times on the horizon. So, surely we can expect swift and decisive action from central banks and governments alike in an effort to baton down the hatches in the eye of the storm? Well, not necessarily.

The Bank of England minutes revealed that only one MPC member, Adam Posen, voted for further QE at the September meeting. All of the MPC elected to keep interest rates unchanged but when it came to the crucial question the minutes say “for some members, continuation of the condition seen over the past month would probably be sufficient to justify an expansion of the asset purchase program at a subsequent meeting”. Translation – we need to see a poor Q3 growth estimate, the final nail in the coffin, before we will agree to act. Most market participants believe more QE will come through in November although some believe we will get an extra £50 billion as soon as October.

It is difficult to gauge the potential effect of the program given the current state of the global economy. The good news is that it will definitely have a positive impact which is a boost the UK economy is long overdue.

Key releases for Sterling this week

Please note that movements on currency markets will be dominated this week by the unfolding sovereign debt crisis in Europe. If you would like to take advantage of our free rate watch service please contact your dedicated dealer.

Mortgage approvals are out on Thursday at 9.30am – we are expecting a fairly flat to mildly positive reading which will be bullish for Sterling.

Gfk consumer confidence out on Thursday at midnight – we are expecting a poor reading which will be bearish for Sterling.

EUR/USD

The Euro encountered strong support below the 1.3650 level against the Dollar on Wednesday and strengthened to highs above 1.3750 towards the close of trading. There was a degree of relief over the Greek debt situation and the threat of default, as the government pledged to increase austerity measures through additional spending cuts.

There were still major concerns about whether the government would be able to deliver the cuts considering the extent of divisions and popular discontent but the move helped provide near-term support to the Euro. There were continuing fears surrounding the banking sector as underlying stresses persisted. The IMF estimated that at least €200 billion would need to be raised and there were fears over the level of debt at French banks.

The latest FOMC statement said that the Fed will be buying $400 billion in longer-dated securities in the period until Mid 2012 through the selling of shorter-term securities. The Fed also announced that it would target mortgage-backed securities in an attempt to keep mortgage rates down. There was, however, no introduction of further quantitative easing measures at this stage with the Fed remaining downbeat on the economic situation.

Global stock markets fell sharply following the meeting, triggering a sharp deterioration in risk appetite and pushing the Dollar stronger against the majority of the 16 most actively traded currencies. The Euro came under fresh selling pressure yesterday, retreating sharply to lows near 1.3420, the lowest level since February.

Underlying confidence in the Euro-zone economy will continue to deteriorate and there was additional pressure for more decisive action at the IMF and G-20 meetings over the weekend. There is continuing speculation that Greece would default and there are concerns over the Euro-zone banking sector that will continue to undermine the Euro.

Fourteen other European countries besides Holland make use of the Euro for their currency.
The Euro, for those not in the know is made up of one hundred cents. The coins are separated  into 1, 2, 5, 10, 20 and 50 cents and the Euro comes 1’s and 2’s. There are also euro notes of 5, 10, 20, 50, 100, 200 and 500 denominations.

If you do travel to Holland it is good to remember that there are a couple of shops that won’t accept large denominations.

Before the Euro, the Dutch made use of the Dutch Guilder, but this is no longer used and is rendered nil and void.
When you travel to Holland you will find it useful in that you will be able to exchange your money almost anywhere, but the post offices normally offer the best rate of exchange for your money. Hotels are renowned to have a high exchange rate and the banks are not particularly fast.
The Dutch prefer if you use cash as opposed to credit cards, and you will find that not all place accept credit cards, although this attitude seems to be changing.
ATM cards are useful when drawing money or making purchases in Holland, so watch out for the Maestro logo displayed on ATM machines.
You have visited the right place if you are in the market for Euros – simply contact us to find out more on Euros and anything to do with foreign money.

Which countries make up the GCC countries? There are six all in all and include Bahrain, Kuwait, Oman, Saudi Arabia, Qatar and the UAE.CGG simply means the Gulf Cooperation Council, which was formed the year 1981. These countries share politics, economics culture and also religion, as all these countries mostly practice Islam. With the exception of Bahrain, the other five countries rely on oil.
Although, globally, the world as a whole took a strong beating and some countries still seem to be battling it out economically, Dubai is beginning to recover after the virtual collapse of its powerful economy, and it seems as if the confidence in this once-powerful desert paradise is gaining confidence in investors starting to re-invest in the economy of Dubai.
Dubai is once again becoming an attractive an attractive investment opportunity with GCC countries clamoring to invest once again especially those from both Kuwait as well as Bahrain.

Online market exchange will keep investors in the know, ensuring that the investor will not miss the perfect opportunity when to buy and when to sell at excellent prices.  Should stock in Dubai increase or decrease, you would want to know the movement all times. All serious investors are aware that now is the perfect time to make your move.

Smart investors choose clever business partners to assist in keeping them up to speed all the time.  That is where Forexfundi will be able to assist; we show you where to invest at all times keeping you in the loop 24/7.

You have come to the right spot if you are looking for investment opportunities in Dubai. Contact us for more on Dubai investments and other forex queries.

It is not only the Rugby World Cup that has lured so many South Africans to New Zealand;  many South Africans have made their homes in New Zealand, making the trade and exchange from the South African Rand to the New Zealand dollar pretty much an everyday occurrence. If you do have family living overseas or run a business between the two countries, and need to exchange monies on a regular basis and you don’t necessarily want to pay taxes on the exchange rate and getting more for your dollars or rands, then make use of a forex agent and open up a forex account to save you money in the long haul.
The currency used in New Zealand is the New Zealand dollar and the money comes in 10, 20 and 50 cents and $1 and $2 denominations. Notes have values of $5, $10, $20, $50 and $100.
There is no restriction on the amount of foreign money that can be brought in or taken out of New Zealand, which is advantageous if you intend either moving to this beautiful country or would like to trade in and out of New Zealand.  However, every person carrying in excess of NZ$ 10,000 in cash is obliged to fill out a Border Cash Report.
Foreign currency can easily be exchanged at banks, post offices, hotels and Bureau de Change kiosks dotted all over the country. Credit cards can be used in New Zealand and travellers cheques are accepted, but if you are smart, you will enlist the services of a forex agent to handle your foreign money matters on your behalf.
If you would like to know how to make use of a forex account or forex agent, you have most certainly come to the right page.

Sending Money Abroad

Sending your money to and from South Africa online is new to many of us. Wireless payments are not only easy to execute but is also really quite a secure method of sending your money overseas. The thought might cross your mind that this is an expensive option; not so! This method is inexpensive, making your money go even further.

Making moves around the world, transferring your money using this method is more important in today’s world with people travelling more than ever before. In the world of finance, money does not distinguish between boundaries or borders.

You will now be in the strong position and be able to purchase, convert, transfer, compare and exchange from any currency to another with ease.

The advantage that you will also have is getting the professional advice from your forex agent who will be able to advise you on current rates at all times, even in today’s competitive international forex market.

Large banking institutions are not  the only options to your forex solutions; therefore for flexible money solutions we will ensure that you receive up-to-date information at all times and save you the fuss and bother of doing all this work on your own, keeping you up to speed at all times regarding your foreign exchange.

We offer you solutions that deliver value and convenience and also ease of use for all foreign exchange users.

Travel money solutions are for those that travel abroad and payment solutions are for individuals who are not travelling but need to send or receive monies abroad.

For all your foreign money matters, we will be able to offer you a solution. You have come to the right page if you are searching for answers for your forex inquiries. Contact us directly to find out more on forex today.

Forex:
Technology has improved our lives in so many ways; we are now able to converse with our loved ones via skype, send parcels and gifts to our family overseas, and now we are able to send money to and from overseas and trade easily with overseas companies due to online money transfers being so accessible.
Moving your money from point A to point B with ease and little fuss, and is a safe way of transferring funds.

If you travel extensively, it is important to have a flexible money solution, and be in a position to be able to access funds twenty four hours a day, seven days a week. This is done quite simply online, no matter where you are based.
You might wonder how much this is all going to cost, but this is minimal with your Forex agent handling all the finer details. Your Forex agent will handle all the details on your behalf; you will begin to wonder why you did not do this a long time ago. Transferring foreign money through the financial institutions is not the only way method to use for money transfers from one location to another, and by trading via Forex will save you a lot of money, too.

Professional Forex experts will offer you advice, as well as the rate of exchange on a daily basis. This would be really important if you trade with goods and import or export merchandise to and from other destinations.

We do not charge you transfer fees and will offer you the kind of professionalism whilst considering your personal needs. We will offer you full control of your money online.

If you are looking for more information on Forex, and about how to send and receive money from overseas, you have come to the right pl