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Submitted by: Russel Mori
At Gerard Associates Ltd we continue our daily look at factors affecting markets and currencies allowing some insight into conditions affecting exchange rates.
Cash and income timing from a UK Pension or QROPS (Qualifying Recognised Overseas Pension Scheme) should be considered to maximise the Pension, QROPS and investment income taken.
Investment market volatility and currency exchange remains a challenge. The global economics are volatile and unprecedented in history. Currency exchange continues to concern expats with UK Pensions, QROPS and now QNUPS (Qualifying non UK Pension schemes).
IN THE UK
UK Bank Holiday yesterday means no data releases of any importance
This morning UK mortgage lending unexpectedly rises, helping pound break $1.56 mark against dollar.
UK PMI manufacturing posts highest figure since Sept 1994 at 58.3. Sterling sees gains across the board
European PMI Manufacturing for December better than expected at 57.1, GBP/EUR drops to 1.1589
US ISM Manufacturing shows a slight improvement to 57.0, above consensus but does not do much to help the dollar.
US Dow Jones and S&P 500 index both closed up on the day, followed by impressive gains in Far East markets this morning.
Gold rises above $1420 and oil remains over $95 helping the commodity currencies remain strong.
European CPI this morning shows that inflation has now broken the ECB target rising to 2.2%, the euro instantly gains against a basket of currencies
German unemployment shows a surprise gain of 3K against a consensus for a drop of 12k
DATA TO LOOK OUT FOR
Factory Orders in US for November are released
This evening in the US, the Fed minutes from the Dec 14th meeting are published. The dollar could move on to the back foot as monetary and fiscal policies harm the dollar s attractiveness
Gerard Associates Ltd advises expats and people considering living abroad on the technical and currency options available for Pensions, QROPS, QNUPS and investments in a clear format allowing all customers to make an informed choice. Our service encompasses Pension including QROPS and QNUPS and investments in a clear format allowing all customers to make an informed choice.
The US Dollar closed Friday s trading session virtually unchanged. The economic day was mixed with fundamental data on balance fairly positive, but news from Europe dampened the mood.
The global economics are volatile and unprecedented in history. Currency exchange continues to concern expats with UK Pensions, QROPS and now QNUPS (Qualifying non UK Pension schemes).
The US Dollar closed Friday s trading session virtually unchanged. The economic day was mixed with fundamental data on balance fairly positive, but news from Europe dampened the mood. Firstly looking towards Europe there is growing discontent with the region to the debt crisis and the potential for a Euro bond ahead of the EU summit this week. US import prices, the trade deficit and the consumer sentiment all beat expectations. In addition Moody s confidence that the nation won t be at risk for a downgrade for at least 18 months looks a little more optimistic. The economic calendar is quiet today ahead of tomorrow s FOMC meeting.
This with the reassurance and security of UK FSA authorised and regulated advice – essential for your security.
About the Author: Russel Mori writes for Gerard Associates LTD, for more information on QROPS, QROPS Pensions, QROPS List, QROPS providers, QROPS guernsey info available online.