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Sterling still holding firm but economic data will be more important again now (Daniel Wright)
As the dust settles on article 50 finally being triggered we can finally start to look at economic data once again, rather that concentrating on the uncertainty that the current stage of article 50 and the triggering of article 50 bought us.
Sterling exchange rates actually managed to negotiate what may have been choppy waters fairly well and have actually come out of the other side slightly up from where they started.
Now the concentration is on what we have coming up in terms of economic data and at the start of a month you tend to get quite a bit of this out for the U.K which will no doubt impact on the Pound.
This morning we have U.K construction data then tomorrow U.K services data dn both of these do count towards a fair chunk of our growth figures. Following on from the referendum vote U.K economic data had not actually been too bad although last month it did start to show signs of being a little shaky again.
Should this data in the next two days be positive then it shows that the U.K is still working well and may have avoided any drop offs due to the brexit procedure beginning.
My view is still the same as it was in my last post and I personally feel the Pound is still a little undervalued and that we will see it rise from the ashes at some point in the coming weeks ahead, but there are still a few potential banana skins ahead that we need to avoid.
If you are in the position where you may need to buy foreign currency with the Pound, or to sell a foreign currency and buy Sterling then it is well worth you getting in contact with me here, even if you do have another broker you are in contact with then it is always worth getting a comparison, much like when you buy anything.
A lot of new clients have been referred their broker by an overseas property agent so feel that this is the best person to deal with as it keeps everything under one net… What they didn’t realise is more often than not the agent that referred you is actually going to get paid commission by the broker so you may not actually get the best price as they have to factor this in.
If may require our services or you want to get a comparison you can email me (Daniel Wright) the creator of this site around 7 years ago on [email protected] and I will be more than happy to get in touch with you personally to discuss the various options available to you.
Source: http://www.poundsterlingforecast.com/2017/04/04/sterling-still-holding-firm-but-economic-data-will-be-more-important-again-now-daniel-wright/
