Euro bashing rests for porfit taking

However the pause in its recent decline is more to do with profit taking than a reversal of the currency’s fortunes. 

Today's Financial Times suggests that £7 billion of short trades are weighing against the eurozone's immediate currency prospects.


We did see both Euro and Sterling hit 8 month lows overnight as the Asian markets rushed to buy the perceived safe haven US Dollar but once again, proximity to support levels was enough to bounce both rates as Europe entered the fray. 

The concern for Euro bulls is that recovery attempts seem very limited in scope and small in magnitude. 

The rally for the single currency in the US last night was snuffed out by the combination of a late sell off in equities and an expectation that Bernanke’s testimony this evening could very well signal a more hawkish Federal Reserve outlook, with speculation that he might lay groundwork for a tightening of monetary policy.

Yesterday’s markets, outside the late US fluctuations, were largely extremely boring with traders waiting for developments (either good or bad) on the Eurozone Sovereign issue. 

Nothing much happened. The Spanish Finance minister was in London talking to bond holders and the Portuguese and Greek governments were both vocal in their defence of their respective fiscal positions Data again is light today with UK trades and US wholesale inventories the highlights. 

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

Currency markets future directions

US Dollar and Sterling should continue to improve against the Euro and Yen for the short term at least.

With the presumption being that the improvement in performance for both economies can be traced back to their recently acquired, more competitive exchange rates. 

Large moves in the next day or so, do look limited however, given the upcoming monetary meeting in Europe and the UK and given that much of the Euro’s recent weakness has been as a direct result of negative news from Greece. 

It has to be assumed that most, if not all, the bad news has been priced in by markets now and the currency might be set for a bit of a lift as it benefits from an increase in risk appetite. 

The Euro itself looks unlikely to surge however, given the likelihood of IMF intervention in Greece’s affairs and for those precious metal aficionados out there, it is worth noting that at present, Greece holds over 71% of its foreign reserves in gold, which at the end of December stood at just shy of $4 billion. Watch the gold price after the IMF have been in …..

Overnight the Reserve Bank of Australia surprised all but a few by leaving their official interest rates at 3.75 % against the expectation of a 0.25% increase, citing the lack of credible information so far on the effects of the previous increases, thus judging it appropriate to hold rates steady for the time being. 

The Aus$ dropped sharply on the release but stabilised on a later caveat from the RBA that if the economy continued to improve, as has been witnessed over the recent period, rates would need to be raised further. The currency held at around 88 cents versus the US$ but given the anticipated continued demand from China for global commodities.

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

Wise Money forsees a volatile week ahead

It’s a big week for the currency markets with a number of events that will most certainly add to the already volatile conditions which we saw in January.

The Euro has continued to slide against the Dollar over the weekend as concerns that Greece's budget problems may spread continue to weigh on the single currency. 

Recent data from the Commodity Futures Trading Commission has shown that bets on a further decline now stand at the highest level in over a year. A strong Q4 US GDP figure (and subsequent stock market gains) on Friday further supported the dollar positive sentiment and helped the greenback reach a four-month high against the Swiss franc and a three-week high against sterling as signs the world's largest economy is gaining momentum spurred investors to buy U.S. assets. 

Reports due later today are also expected to show that show U.S. manufacturing expanded for a sixth month and household purchases rose.

In the UK, attention this week will focus squarely on the Bank of England's policy decision on Thursday and what this will mean for the future of the asset-purchase facility. 

With the property market showing signs of strengthening and the economy exiting recession, the MPC may move towards pausing it's emergency bond purchases after buying 200 billion pounds so far.

UK data earlier this morning showed that house prices rose for a sixth month in January as a shortage of homes for sale supported property values. However, prices were still down 0.8% from a year earlier.

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

Higher yielding currencies early 2010 gains

Positive interest in many Far Eastern and Antipodean currencies continues as investors look to the Asian and Pacific regions for the most likely currency appreciation during 2010. 

Apparently confirming the view, a researcher at the China Academy of Social Sciences (a Chinese Think Tank) told reporters that the Renminbi should be revalued by a one-off 10%. This, though, was mis-translated apparently with the Chinese version reading, they ‘think that it is good to push for a 10% rise but that NOW is NOT the right timing’. 

Despite this, the mood is set for gains in the region with just the Yen bucking the trend, having started to lose its recent upward momentum. As mentioned previously, the gradual widening of the interest rate differential between the Yen and the other major currencies, favour its return back to the funding currency of choice. 

The resignation of the Japanese Finance Minister, Fujii on health grounds (he had been viewed as a steady hand on the tiller on the back of his considerable experience in markets) leaves a big gap in the government’s ranks ahead of an important financial period and a crucial debate on fiscal policy. 

His withdrawal from the fray also makes intervention much less likely, negating the possibility of official support for the Yen if the market does start to push it back towards 100 versus the Dollar.

The trade of the year call however is to be short Sterling / Aussie now that the strong support at 1.7700 has broken. Talk is for a move down to 1.6000 which, unless you view Cable as being a non-mover, suggests a move in Dollar/AUD down towards, but not through, the parity level. 

This backs up the argument that commodity currencies will dominate proceedings during the early stages of the year with the Aussie, Kiwi and Canadian Dollars the punters favourites.

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

US Greenback ends the year on a high

As we enter the last full trading day of the year, the Greenback has strengthened and trades below 1.59. 

Yesterday's US consumer confidence showed a figure of 52.90 against an expected 53.0, but still up on November's figure of 50.6. On the back of this data the dollar moved over 1.60 but shifted back towards 1.59 levels soon after as thin market trading continued.
 

German consumer price index figures released yesterday afternoon added support to the euro as we saw an increase to 0.8% from an expected 0.7%, up on last years 0.3% and euro/GB Pound fell below 1.11 where it is trading this morning.   

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

Market confidence resumes

It was back to business as usual in the markets as the search for yield gathered momentum. 

The big loser was the Japanese Yen surpassing the US Dollar as the currency of choice to sell in the thirst for yield. The recent stimulus from Japan and recent verbal attempts to weaken the currency are finally starting to undermine the Yen; USD/JPY is heading back towards 88.00 and GBP/JPY is back up at 146. 

The recovery trade is glaringly apparent again with equities gaining- the Nikkei up 3.3%; Gold hitting new highs and Oil gaining.

EUR/USD is still pushing north although momentum has slowed sue to the market awaiting the ECB rate decision at 12:45 today. As usual it will be the press conference following the decision that will be closely eyed. 

What the market will be scrutinizing is the potential for a shift in the terms that the ECB offers funding to banks on a long term basis- previously a spread of 1% was utilized. What they could look to do is raise the tender or remove it completely and leave it floating- both moves would be considered hawkish and thus euro bullish.

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

Currency Converters foreign exchange forex services

To order your foreign exchange holiday money cash deliveries in the UK for amounts less than £4,000, $5,000 or €5,000
Or for amounts of currency over £4,000, $5,000 or €5,000 please call 0845 389 3000 and ask for a no obligation, free consultation with theexclusive Wise Money business forex service or complete the online enquiry form

Specialists in selling foreign currencies and traveller's cheques. Our travel money service offers commission free currency at highly competitive rates.

Avoid the queues, unnecessary journeys and order your travel money from the comfort of your own home or office. Then let our speedy next working day delivery service to take over to ensure your money arrives at your door safely.

Place your order before 12:30pm and your money will be delivered by fully insured special delivery by 1.30pm the next working day.

Please note: Orders received before 12:30 pm on Friday will be delivered the following Monday. Orders received after 12:30 pm Friday or placed on Saturday and Sunday, will be delivered the following Tuesday. Special arrangements for Bank Holidays will be advertised on the site at the time.

There is absolutely no service fee or commission on the currency exchange transaction. There is a £4.95 handling fee to cover the cost of delivery and insurance. Orders over £300 when paid for by debit card and bank transfer will receive free delivery please select this option in the shopping cart.

Payment can be made securely over the Internet with any card bearing the Switch, Delta, Visa, MasterCard logo or by cheque, chaps, swift.

We also supply commission free, American Express Travellers Cheques, with the peace of mind offered by free insurance against theft and loss and a 24-hour replacement service.

To order your foreign exchange holiday money cash deliveries in the UK please click here now for amounts less than £4,000, $5,000 or €5,000

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

Wise Money supports Every Click the Search Engine Charity

Wise Money supports everyclick.com, the search engine that helps charity. Everyclick.com donates half of its revenues to charity and it doesn’t cost you or the charity you choose to support a penny.

everyclick
Raise loot for Charity just by searching the web!

Go On – Give you mouse a heart ! Make www.everyclick.com your home page and raise finance for charity whenever you search the web.

More ways to raise money for your favourite charity

Select from over 200,000 UK charities, schools and good causes. Find out more...

Raise money:

Search - search the web
Shop - buy direct from the best retailers
Donate - make a donation
Sponsorship - build a fundraising page

146,182 people have raised £871,678.33

Information for Charity Staff

Everyclick provides all 200,000 UK registered charities with a comprehensive range of ways to fundraise online without any upfront cost.

With Everyclick more of the money donated goes to Charity; every £10 donation turns into £12.20 for the selected charity if Gift Aid can be reclaimed. There is a flat 4.8% fee taken on all credit and debit card transactions.

How companies can fundraise

We currently have 5,873 companies who use Everyclick as their preferred online fundraising resource. Everyclick helps them build brand values and awareness, enhance Corporate Social Responsibility (CSR) credentials and provide a focus for staff fundraising as well as supporting their favourite charity.

Companies may decide to launch an appeal, for instance for a staff challenge or other fundraising event. Their staff can use Everyclick to build a fundraising page, attract sponsors and keep track of their progress.

School fundraising ideas

Schools, colleges and universities can use Everyclick to help with school fundraising. They can launch an online appeal, enabling charity donations as pupils, staff and supporters search the web, shop online, donate cash or organise sponsorship for fundraising events.

If your school or university is a charity in its own right then your pupils, staff and supporters can become fundraisers, generating income from a sustainable source with minimal cost or effort.

Which charitable organisations can I fundraise for?

You can support any one of over 200,000 UK charities via Everyclick.

UK charity directory

Animal charities | Arts and Culture charities | Children and Young People charities | Community charities | Education charities | Environmental charities | International charities | Medical charities | Religious charities | Services charities | Sports charities | Welfare charities

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

WiseMoney.com Awards

WiseMoney.com Ltd has already achieved the following accolades:

• Simon Dye the founder and Chairman of WiseMoney.com Ltd had his Chartered Marketer status confirmed for the tenth consecutive year by the Chartered Institute of Marketing, July 2008.
  
  

• Simon Dye the founder and Chairman of WiseMoney.com Ltd was awarded a Fellowship by the Chartered Institute of Marketing, October 2007.
  

• Simon Dye the founder and Chairman of WiseMoney.com Ltd was elected as Chairman of the Chartered Institute of Marketing's Market Industry Board, January 2007.
  

• Simon Dye the founder and Chairman of WiseMoney.com Ltd was elected as Chairman of the Chartered Institute of Marketing's South West of England and South Wales's Regional Board, January 2005.
  

• Simon Dye the founder and Chairman of WiseMoney.com Ltd was awarded the Winner of Business Link Gloucestershire's Lifetime e- Business Award, November 2004.
  

• The first and only financial services website that meets the SafeBuy Assurance Scheme for web-based retailers- and is endorsed by TrustUK, the industry self-regulatory body set up by the Consumers' Association and the Alliance for Electronic Business, supported by the UK Government, October 2003.
  

• Upgraded to a Four Star "Very Good" Star Rating by the international Shop Safe consumer guide for online shoppers- they only list online shops that meet their code of practice along with the best deals and bargains, September 2003.
  

• Awarded a Golden Web Awards for the years 2003- 2004 which was presented by the International Association of WebMasters and Designers, August 2003.
  

• First ecommerce organisation to successfully pass the new upgraded Investor In People review and recognised as continuing to meet the requirements of the national Standard for effective Investment In People, May 2003.
  

• Declared to be "Highly Recommended" in Business Link and the South West of England's Smart Thursday's e-Xemplar for helping local businesses to make online marketing profits, December 2002.
  

• Shortlisted as one of three finalists by the British Business Awards Association for their "Excellence in Marketing" awards, November 2001.
  

• Shortlisted as one of three finalists by the British Business Awards Association for their "Investors In People" awards, November 2000.
  
  
  
• Three page feature article written by the Editor in the "Investor In People" magazine in Autumn 2000.
  

• Showcased in the book “Here’s to the best of British” published by the Design Council in September 2000.
  
  
  
• "Internet Magazine" reviewed the leading financial services web sites in the UK and ranked WiseMoney.com to be one of the top seven in April 2000.
  

• Investors In People awarded by Business Link for our unique approach to staff development in March 2000.
  

• The Design Council and the Department of Trade & Industry awarded WiseMoney.com as the first retail Millennium Product website in August 1999.
  
  
  
• FIND the leading UK financial information website- awarded WiseMoney.com as "FIND.co.uk's" Website of the Week on July 1999.
  
  
  
• Which Online of the "Consumers' Association" first passed WiseMoney.com for selling financial services in July 1999.
  
  
  
• The Department of Trade and Industry in their "InterForum E-Commerce" awards commended WiseMoney.com for "demonstrating an exemplary use of electronic commerce" in June1999.
  

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

Wise Money testimonials from happy customers

Wise Money Testimonials- below are kindly reproduced only some of our recent clients comments after we helped them:

Commercial Finance
"I have really appreciated your approach of the financing business. This is, to my opinion, the best way to build a good reputation in this world full of crooks and brokers and lenders who are proposing financing with a lot of hidden cost." Mr MK of Switzerland.

Refinancing
"Dear Simon, I am very impressed with how you and your company handles situations, never in my life has any company treated me with such respect as to feel as if I were your biggest patron. So I now bid you a good day and I look forward to continual business with you"- Mr N.S., USA.

Mortgages
"Thank you all at Wise Money for being so patient and helping me all of the way through with my mortgage application process- it certainly helped to have someone on my side."- Ms N.B., UK.

Currency Converter
"The opening of accounts and close contact for exchange rates has meant I have achieved a far better exchange rate than was expected. I would have no hesitation to recommend your company to others and look forward to many more dealings in the future."- Mr JH. of UK.

"Despite the time differences, our money was transferred from our UK bank account to our Australian bank account within 48 hours of contacting WiseMoney- and we saved considerably on the exchange rates, thanks."- Mr &Mrs AJ. of Australia.

Travel Insurance
"Thanks- your total travel insurance quote for our party of 4 people was actually cheaper than the quote just myself that the travel agency quoted me."- Mr S.B., UK.

Car Insurance
"I saved well over a quarter off my quote with your motor car insurance quote- many thanks!"- Mrs P.S., UK.

Home Insurance
"Cheers- I saved nearly a third off my original quote with your home insurance quote!"- Mr M.K., UK.

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

WiseMoney.com Ltd- information about us:

WiseMoney.com Ltd - Corporate Profile- information

WiseMoney.com is a free, independent online finances resource whose intention is to simplify the complicated world of finance and to save you time, money and worry in the process by comparing the best finance companies for you from around the world. 

We aim to simplify the financial services world and to help make you safe and secure with the personal touch.

WiseMoney.com homepage

We are based in England, UK and we adhere to all of our local legal requirements- which includes the Data Protection Act 1998 and this means that "This organisation is committed to upholding the eight Data Protection Principles of good information handling practice". We also apply this process where ever you live in the World.

Why should you join Wise Money?

· You can compare services form over 450 insurers and 350 lenders and apply online right now
· You are dealing with one of the most successful companies in the UK
· You are dealing with one of the largest independent international brokers providing financial services
· You will be treated as an individual with courtesy and care
· You will receive FREE help from experienced, trained assistants
· You will be joining tens of thousands of satisfied clients
· You will receive world class service

Wise Money.com Ltd - Our Philosophy

We were founded and launched in 1998 by Simon Dye MBA,DipM,MCIM, MAMA- a Chartered Marketer with decades of expertise in the marketing and financial services sectors who also created our philosophy:

Our pledge to you:
· To offer our visitors the best value financial services available
· To make financial services simple and straightforward
· To provide visitors with a resource where we actually care about helping you with your finances, whether you are a multi-millionaire or someone who is looking for ways to get counseling for bad debts which are ruining their lives.

Investors
WiseMoney.com Ltd. is currently a 100% privately owned company which has developed from purely organic growth and reinvested profits. We are not currently seeking external investment.

Company Details
Our registered Office is in England, UK- Registered Number is 3506015
at 24 Charlton Drive, Cheltenham, Glos GL53 8ES, UK.

Consumer Credit Licence Number- 442874
Data Protection Registration Number- PZ5407728

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

Travel money- great value currency converters through wise money

To order your foreign exchange holiday money cash deliveries in the UK for amounts less than £4,000, $5,000 or €5,000
Or for amounts of currency over £4,000, $5,000 or €5,000 please call 0845 389 3000 and ask for a no obligation, free consultation with theexclusive Wise Money business forex service or complete the online enquiry form

Specialists in selling foreign currencies and traveller's cheques. Our travel money service offers commission free currency at highly competitive rates.

Avoid the queues, unnecessary journeys and order your travel money from the comfort of your own home or office. Then let our speedy next working day delivery service to take over to ensure your money arrives at your door safely.

Place your order before 12:30pm and your money will be delivered by fully insured special delivery by 1.30pm the next working day.

Please note: Orders received before 12:30 pm on Friday will be delivered the following Monday. Orders received after 12:30 pm Friday or placed on Saturday and Sunday, will be delivered the following Tuesday. Special arrangements for Bank Holidays will be advertised on the site at the time.

There is absolutely no service fee or commission on the currency exchange transaction. There is a £4.95 handling fee to cover the cost of delivery and insurance. Orders over £300 when paid for by debit card and bank transfer will receive free delivery please select this option in the shopping cart.

Payment can be made securely over the Internet with any card bearing the Switch, Delta, Visa, MasterCard logo or by cheque, chaps, swift.

We also supply commission free, American Express Travellers Cheques, with the peace of mind offered by free insurance against theft and loss and a 24-hour replacement service.

To order your foreign exchange holiday money cash deliveries in the UK please click here now for amounts less than £4,000, $5,000 or €5,000

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

Travel insurance quotes overview at Wise Money

Travel insurance quotes for holiday insurances, vacation insurance for you from around the world.

Fortravel insurance quotes from the UK, please click here now
For Travel insurance from the USA, please click here now

* Age coverage from 0 to 85 * Wintersports covered- skiing and snowboarding * Business Travel * Single or Multitrips * Wedding Cover
* Independent Travellers *10% internet discount...Automatically included when you do your quote * Special cover options available... For golf trips, cruises, sports and adventure holidays * 15% discount... If you choose to remove baggage cover * Discounts for children/ students... Special family rates for parents travelling with children up to 17 and full time students up to 23 * Immediate cover... Documents available online as you buy

Travel insurance- whether you travel for business or pleasure, international travel involves risk. You may arrive
at your destination to find that your luggage with personal items has disappeared. A personal emergency may necessitate your early return to your Home Country. A medical emergency may require hospitalization or even air evacuation. In most cases, your existing insurance will not
provide adequate protection for these and other risks.

Winter Sports Cover
This option provides special extra cover for skiing, snowboarding and many other winter sport activities. Cover includes...
* Emergency medical assistance
* Skiing - off piste with a guide
* Accidental loss, theft or damage to your own or hired ski equipment
* Hiring replacement ski equipment should yours be lost, stolen or damaged
* Reimbursement of ski school fees, lift passes and hired ski equipment if you're injured or fall ill
* Loss of your lift pass
* The costs of transport to an alternative site due to lack of snow or if avalanche closes your resort

Business Trips
When your job involves travelling abroad, it’s essential you have specialist cover to protect you from the unexpected. Cover includes...
* Stolen or damaged business equipment – includes computers and samples
* Stolen or lost money – includes company money
* Additional accommodation and travelling costs for a colleague to take your place due to your injury or illness
* Hiring essential business equipment following loss or breakage or misdirection or delay in transit
* Purchasing necessary replacements should your business equipment be delayed or lost in transit
* Travel several times a year? Why not choose an annual multi trip policy. You could save money. This option will become available as you complete your quote

Wedding Cover
Our specialist cover is tailor made for couples getting married abroad. If you want peace of mind for your special day, cover with extra wedding cover is a must. Cover includes...

* Wedding rings, wedding gifts and attire should they be accidentally lost, stolen or damaged
* Wedding attire cover includes bride’s dress, groom’s suit, shoes and other accessories bought specially for the wedding
* Reasonable additional costs to take photographs/video recordings again if the professional originally booked is unable to attend due to illness or injury
* All the other standard benefits from your travel policy such as medical expenses, cancellation and a 24 hour English speaking emergency medical helpline

Independent Traveller
Do you choose to book your holiday direct, cutting out conventional agents and package holidays? If you’re an independent traveller, you probably need extra protection from your cover. Cover includes...

* The cost of transport and alternative accommodation if what you’ve booked becomes unusable due to a disaster or insolvency of the accommodation provider
* Fire, flood, earthquake, explosion, tsunami, landslide, avalanche or storm making your accommodation uninhabitable
* Irrecoverable, unused accommodation costs and charges because you are unable to travel
* All the other standard benefits from your travel policy such as medical expenses, cancellation and a 24 hour English speaking emergency medical helpline.

Wise Money- Making Your Travel Worry-Free!

For travel insurance quotes from the UK, please click here now
For Travel insurance from the USA, please click here now

Without appropriate cover, you may be exposed to significant financial liability.
Our experts have designed a number of international policies to
cover all of your risks!

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

Currency Converter Services at Wise Money

Currency Converter Services at Wise Money

To order your foreign exchange holiday money cash deliveries in the UK for amounts less than £4,000, $5,000 or €5,000
Or for amounts of currency over £4,000, $5,000 or €5,000 please call 0845 389 3000 and ask for a no obligation, free consultation with theexclusive Wise Money business forex service or complete the online enquiry form

Specialists in selling foreign currencies and traveller's cheques. Our travel money service offers commission free currency at highly competitive rates.

Avoid the queues, unnecessary journeys and order your travel money from the comfort of your own home or office. Then let our speedy next working day delivery service to take over to ensure your money arrives at your door safely.

Place your order before 12:30pm and your money will be delivered by fully insured special delivery by 1.30pm the next working day.

Please note: Orders received before 12:30 pm on Friday will be delivered the following Monday. Orders received after 12:30 pm Friday or placed on Saturday and Sunday, will be delivered the following Tuesday. Special arrangements for Bank Holidays will be advertised on the site at the time.

There is absolutely no service fee or commission on the currency exchange transaction. There is a £4.95 handling fee to cover the cost of delivery and insurance. Orders over £300 when paid for by debit card and bank transfer will receive free delivery please select this option in the shopping cart.

Payment can be made securely over the Internet with any card bearing the Switch, Delta, Visa, MasterCard logo or by cheque, chaps, swift.

We also supply commission free, American Express Travellers Cheques, with the peace of mind offered by free insurance against theft and loss and a 24-hour replacement service.

To order your foreign exchange holiday money cash deliveries in the UK please click here now for amounts less than £4,000, $5,000 or €5,000

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

Chinese shares fall on fears of false credit rally

Chinese shares fell to their lowest level in two months amid growing fears that this year's rally has been based on unsustainable levels of easy credit.

The benchmark Shanghai Composite Index fell 5.8pc to close at 2,870.63, its lowest level since June 18, with commodity and property companies hardest hit.

China's markets have shown increasing volatility this month as investors chase rumours that China's banks have been ordered to cool the surge of lending seen in the first half of the year.

Some analysts have estimated that up to 20pc of the $1 trillion (£615bn) in bank lending in the first half of 2009 has been funnelled into property and the stock market, creating a fresh round of asset price bubbles.

Reports have also suggested that rises in metal and other commodity prices this year have been driven by Chinese inventory stock-piling rather than actual demand, further dampening the appetite of investors.

Confidence had already been hit after a report released on Friday showed US consumer confidence was weaker than expected in August, confirming that China's exporters will not see recovery in the short term.

And foreign direct investment in China fell for a 10th month in succession in July as international companies stalled expansion plans amid the global financial crisis, according to figures released by the Commerce Ministry.

Although the market is still showing a 58pc gain this year – down from a high of 90pc on August 4 – the market has see-sawed since July on rumours and media reports that credit policy was tightening.

Despite some record land sales in China in the first half of this year, fuelled in part by state-owned enterprises seeking a home for easy credit, new property sales fell by 20pc to 30pc in major cities, indicating a worrying imbalance between supply and demand.

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

Wise Money view- risk aversion reigns again

For currency traders, the G8 was notable solely for what was not said and for who was not there.

Rhetoric suggested the summit would be the “high noon” for the dollar as a reserve currency, as China pushed for a more diversified anchor for foreign exchange.

But currencies are not even mentioned in the draft communiqué. China’s premier was not present for the discussions, thanks to trouble at home. The showdown on the dollar’s future did not happen.

Rather than dancing to the tune of the world’s leaders, forex markets suffered a new wave of aversion to risk.

That wave started in the commodities market, where prices dipped sharply. The CRB index, a broad index of commodity prices, dropped to its lowest level since early May, pushing below its 200-day moving average – a strong signal that its rebound of the past few months was over.

The CRB is down more than 12 per cent since it topped out last month and is 51 per cent below its high set last year. This implies that deflation – falling prices and stalled economic activity – is a much greater risk than the resurgent inflation that was being talked about only weeks ago.

Gold, an inflation hedge, fell 2.2 per cent and is now down more than 10 per cent since it hit $1,000 per ounce in February.

In currencies, the Japanese yen, which gains when people are anxious, made dramatic and sudden gains against the dollar and the euro. This could increase pressure to intervene to keep the currency cheap.

These developments are alarming. The pendulum in the debate between inflationists and deflationists has swung back to the deflationists – at a point that inflation still looks the lesser evil.

But at least risk aversion will help the dollar avoid further falls and delay the moment when it is replaced as a reserve currency.

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

Hesitant start for Asian markets

Markets got off to a hesitant start Monday as investor doubts on the staying power of a global recovery kept Asian stocks soggy and currencies subdued ahead of a much expanded Group of Eight meeting this week.

Japan’s Nikkei slipped 1.58 per cent to 9,661.27, while the MSCI index of Asia ex-Japan eased 1.1 per cent to 319.61.

The air of caution kept the US dollar and bonds supported as safe-havens, while pressuring commodity prices. Crude oil futures were down at five-week lows of $65.00 a barrel.

Investors were still smarting from last week’s dismal US payrolls report which put a question mark over the recovery there, and thus across the globe.

Stock bulls had been hoping for something more ”V”-shaped and the disappointment was clear in Thursday’s 2.9 per cent drop in the S&P 500. Having skipped a session on Friday for the Independence Day holiday, S&P 500 stock futures were off 0.86 per cent in Asia at 885.90.

That implied the cash index was perilously close to breaking major chart support of a head and shoulders pattern.

Investors were also wary ahead of the Group of Eight summit in L’Aquila, Italy on July 8-10, which has been expanded to include China and a host of developing nations.

China last week floated the idea of discussing the US dollar’s place as the sole international reserve currency, causing a brief dip in the currency.

The G8 pushed back, however, with a source telling Reuters there was no appetite for such a momentous change.

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Wise Money sees feelgood factor returns

Overnight the UK government has hinted it may look to sell a portion of the debt it has taken on in the nationalised UK banking sector this has seen sterling surge 2 cents against the US$ to levels not seen since December 2008.

Over in the US the feel good factor continues as the Treasury Secretary Geithner adds to the growing belief that we have turned the corner.

This, added to bullish global economic data and further comments from the US gave the Stock Markets a real boost, pushed the oil price up above $60 per barrel again and caused the Dollar to ease against the majors.

Positive data included a rise in Japanese consumer confidence and better than expected export figures from the EU.

We then got ‘reasonable' numbers from the US including strong trading performance from Lowes, a major company whose business is directly related to the house building industry.

Financial stocks added to the positive sentiment following news that Goldman Sachs, Morgan Stanley and JP Morgan had applied to the Treasury for permission to repay their TARP borrowings.

The Reserve Bank of Australia gave a moderate assessment of their domestic situation and questioned the need for a further cut in their interest rates at the May meeting. AUD strengthened slightly following an earlier dip on the Chinese steel directive.

And in a further sign of a global shift away from the US Dollar as a trading medium, Brazil and China have agreed to work towards using their currencies in trading transactions rather than the greenback.

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US stress tests of banks a focal point for Wise Money

The results of the US banks stress testing is expected tomorrow after the markets in New York close.

This is to be followed by a press conference from the Banks involved on Friday at which one would assume, they will argue their opposition to the findings. Rumours and articles abound this morning concerning Bank of America with estimates that the Bank will be ‘asked' to get hold of $34 billion of fresh capital following the stress testing.

This is about 3 times the original expectation and raises concerns over the total amount that might need to be raised by the other 9 major banks involved. This invoked a move away from riskier currencies and perversely into the US Dollar which enjoyed an afternoon of demand. Equity markets were subdued with a small drop in the DOW recorded.

The original stated purpose of the stress tests was to increase confidence in the US banking system, but the market feels like the end result has been almost exactly the opposite.

Sterling has rallied nicely against the dollar on the back of better than expected UK services PMI data for April, which rose to 48.7 from 45.5 in March, some way above the median forecast of 46.3.

It is the highest reading since August 2008. The pound is also gaining slowly against the euro ahead of the ECB rate announcement tomorrow.

In the fx markets the overall general sentiment aside from the stress testing is still motivated by equity movements- the recent increase in risk sentiment has definitely helped any currency with yield- the AUD, NZD and ZAR all performing strongly overall recently and the USD and YEN losing ground.

Another mover has been the Canadian dollar which has appreciated 5.5% since mid April- this largely due to Canada holding off the introduction of printing money to buy up debt assets- however a strong currency will dampen the demand for exports in Canada which have already fallen sharply.

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Pendulum again swings towards risk appetite

Yesterday and overnight we have experienced a broad sell off in the US Dollar as a return to global risk appetite kicked in.

GBP/USD is approaching the 1.50 level again after a good start to trading and EUR/USD has tested the 1.3350 resistance level this morning. Last night we had the FOMC decision and as expected interest rates remained unchanged at 0.00- 0.25% and the statement commented that rates will remain low for "an extended period".

Furthermore the FED stuck to their guns following the March announcement that they will still purchase a total of up to $1.25 trillion of agency mortgage-backed securities and up to $200 billion of agency debt by the end of the year, as well as $300 billion of Treasury securities by autumn.

A similar theme in euro zone yesterday as we again saw improved confidence data against a downgrading of German GDP to -6.0% vs. -2.25% originally forecast. The euro is trading higher however as sentiment and focus on the improved confidence data helped the currency.

We also need to remember that the euro interest rates are higher than the UK, US and Japan and the increased risk sentiment into yield will help the euro. We can see similar gains when looking at other higher yielding currencies such as the AUD and ZAR which have all posted gains- particularly impressive is the ZAR- the USD against the ZAR has weakened from levels over 10 recently to 8.5 currently.

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

Manic Monday on the currency converter forex markets

Yesterday we saw dramatic swings in the foreign exchange markets with the Pound being the protagonist.

GBP/USD retreated from Fridays 1.43 down to a low of 1.3750 yesterday; the pound also lost 4% against the Swiss francs from last week's levels and 2.5% against the euro.

The reason for the sell off was related to the labour government increasing its stake in Lloyds banking group from 43% to 77% and also to rumours that Barclays may be next in line for the communist takeover. Investors fear the nationalisation of banks and the fact that further capital is required, may lead to uncertainty in the rest of the banking sector.

Looking at this mornings trading we have witnessed a slight recovery for the pound against the dollar even against the back drop of further weak data in the housing and manufacturing sectors.

It now seems that the economic slowdown is reaching a truly global perspective as the IMF has confirmed that growth in Sub-Saharan Africa will slow to 3.25% in 2009 which is half of previous estimates.

Although investment exposure is very minimal it is the slowdown in demand for products and in particular commodities which is the biggest contributing factor.

Closer to home a similar pattern can be seen in Germany as exports slumped by a fifth in January, here the problem again is the slowdown in demand coupled with the recent strength of the euro.


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The euro is in the spotlight

The Pound held up well yesterday as the latest inflation data confirmed that CPI fell 0.7% in January bringing the annualized level to 3.0% which is down slightly from Decembers 3.1%.

The 3.0% level is still well above the Bank Of England’s 2% target for inflation and this data suggests that interest rates may not need to be cut in March as previously thought.

However inflation will remain a concern for the Bank Of England- Mervyn King has already signaled that inflation could fall sharply this year and todays BOE minutes will give us more insight to the sentiment of the MPC.

The euro was the big loser in the currency markets yesterday falling to 2 month lows against the dollar and also retreating against the pound…real concern is now prevalent on the health of eastern European banks.

With the threat of a downgrade in credit looming over eastern European subsidiaries of Swedish and Austrian banks coupled with the expectation of more banking losses in Europe forcing the euro lower.

The EUR/USD moved to a low of 1.2548 and 1.25 is now the key target before a break to 1.2312…GBP/EUR failed to hold above a move back to 1.13 yesterday, however this will again become the target as the spotlight remains on the euro and its woes.

Overnight the final approval was placed on the US stimulus package of $787bn which is desperately hoped will kick start the global economy. The urgency of Obama to introduce this stimulus was justified as General Motors and Chrysler have requested another $21.6bn on top of the $17.4bn already received.

This caused a sharp sell off in equities- in particular the Dow as risk aversion kicked in.

One to watch in the markets at the moment is USD/CAD which has broken a key resistance level of 1.26…with risk aversion and the falling value of Oil we could see this pair re-test the 1.30 level in the near term.

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.