Positive UK data pushes the pound higher

| 23-1-2020 | treasuryXL | XE |

Although based on XE’s previous article, the Sterling has been pressured since the beginning of the year resulting in the GBPUSD drop from the highs of 1.35 post-election to the levels of 1.2975, it seems the GBPUSD is recovering following the release of stronger-than-expected UK jobs reports.

Sterling gained yesterday following the release of stronger-than-expected UK jobs report, GBPUSD moved from 1.2980 up to 1.3050. According to the Office for National Statistics (ONS), the UK Average Weekly Earnings (Including Bonus) recorded a growth of 3.2% during the three months to November as compared to consensus estimates pointing to a modest downtick to 3.1%. The gauge excluding bonuses came in at 3.4% as against 3.5% previous but was in line with market expectations.

Other details showed that the number of people claiming unemployment-related benefits fell to 14.9K in December. The strong data slightly dented expectations of an interest rate cut by the Bank of England at its upcoming meeting on January 30 and provided a modest lift to the British pound. However, the markets are still pricing in about a 60% chance of a 25 bps rate cut. Moving forward the markets will continue to look towards the Bank of England rate decision at the end of the month for guidance on Sterling. Should we see rates on hold we could see Sterling strengthen considerably in the aftermath.

EURUSD has remained fairly flat and continues to trade just below the 1.11 level. It is a data light day from Europe and the US markets await employment data tomorrow for any significant moves.

GBPUSD – 1.3046

GBPEUR – 1.1776

EURUSD – 1.1077

The figures are based on the live mid-market rate, correct as of 08:30 GMT on 22/01/2020, and are provided for indicative purposes only. Live mid-market rates are not available to consumers and are for informational purposes only. The rates we quote for money transfer can be selected via the page on our website ‘Live Money Transfer rates’.

Source

Get in touch with XE.com

About XE.com

XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.

Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.

Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multibillion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.

Are you curious to know more about XE?
Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.

 

 

Visit XE.com

Visit XE partner page

 

 

 

How to Get Started with International Money Transfer

| 16-1-2020 | treasuryXL | XE |

Do you ever get fed up with expensive service charges for the “privilege” of using your money? Do hidden international money transfer fees give you cold sweats when you log into your online banking account? Are the service charges imposed by providers like PayPal and Western Union making your heart beat faster?

You’ve worked hard all your life – to pay your bills, to provide for your family, and possibly to leave your home country to start a new life. Why should you pay exorbitant fees to move money in this digital age? There’s no need for armored trucks, planes, or boats to transport cash from you to the intended recipient of your money. Today, secure digital transactions are what gets money from one corner of the world to another.

Transferring money with a money services business (MSB) like XE eliminates the sorts of fees banks charge. You’re also assured a fair trade-able exchange rate on your money, based on the mid-market rate. (Meaning the mid-point between the buy-rate and sell-rate from international money markets.)

If you’ve heard this pitch from foreign currency transfer providers before, don’t worry, we’re just warming up here.

A Strategic Division of a Global Financial Powerhouse

XE, unlike many of the independent money services businesses in the marketplace, is a subsidiary of Euronet Worldwide, a leader in global electronic transactions and payments, and in facilitating payments between financial institutions, retailers, service providers and consumers.

We are entrusted by leading brands such as Google, Apple, Netflix and PayPal for their payments. Our sister companies facilitate payments for streaming media content, gaming, gift cards and pre-paid cellphones.

Our foreign currency market experts ensure our customers get the best value on money transfers to over 170 countries, in sixty currencies. Our consumer clients can transfer up to $500,000 (or your country’s equivalent denomination) from their accounts. There aren’t any monthly service charges or registration fees to erode your savings. Businesses can contract transfers of amounts exceeding $1 million.

The ABCs of International Money Transfer

If you’ve never contracted the services of a money services business before, here’s what you need to bring to the “table” before you even register for an account.

  • A bank account, and an original electronic copy of a bank statement
  • Government-issued identification such as a driver’s license, passport, or an age of majority card
  • An electronic copy of a utility bill, such as electricity bill or from a telecommunications company
  • An understanding of the approximate value of your foreign currency trading and transaction needs. These can help XE recommend services which maximize your return.

XE is mandated to collect these documents by the financial regulators around the world. They are used for the sole purpose of verifying your identity, and to defend the interests of XE and our clients against criminal activities like money laundering and to prevent the funding of terrorist activities.

There are further details about the terms of our service in the disclaimer below, and our Important information page.

It’s surprisingly easy to register for an account with XE, though if you need any assistance along the way, our knowledgeable customer success teams in our offices around the world are happy to assist you along the way.

Once you have registered for your account, and have transferred money to it from your bank, you can initiate a single transfer, series of transfers, or even mass payments to multiple suppliers or recipients. If you read on to the next section, you’ll learn about how you can take advantage of volatile market conditions to save money on overseas payments.

Services Which Distinguish XE from other MSBs

There are several overseas money transfer businesses in the market, and finding the ideal one for your personal or business needs can be challenging if you don’t know where to look. XE rises above the competition for many reasons in part because of our reputation for being easy to do business with. The proof is in our five-star rating on TrustPilot. Even our competitors regularly cite XE exchange rate data as the most accurate and reliable in the industry.

Some of the unique services which our customers rely on to mitigate costs include:

  • Forward contracts – which can lock in an exchange rate for up to twelve months, like recurring payments abroad for condominium fees.
  • Market orders – If you aren’t pressed for time on a specific payment, choose an exchange rate amount you are comfortable with, and we’ll initiate your payment for the moment the exchange rate meets that rate for your currency pair. These orders make the most of your money in turbulent times.
  • Spot orders for mass payments – Lock in on a rate for multiple payments at once for a batch of payments to multiple suppliers.
  • Risk management, cash solutions foreign exchange consulting and structured foreign exchange products for unique business requirements.

Time is of the essence in the currency market, much like in the stock market or in commodities trading. The services above provide some protections against unexpected peaks and valleys in the valuation of your local currency, though you should ensure you understand how upward or downward market movements can impact your scheduled payments.

Rate alerts via email are especially helpful to know when to trade when your base currency is at an optimal value relative to the currency you are exchanging for.

Money Transfer on the Go

There’s no denying that smartphones, tablets, and wearable devices are surpassing traditional computers for accessing digital content and getting things done online.

XE’s mobile apps for Android and iOS enable our customers stay up to date on exchange rates and make international payments without breaking stride.

XE is constantly developing innovative new channels and experiences for overseas money transfer. If you are evaluating XE relative to other money services businesses, don’t just take our word for it. Check out the review on money service provider review site Finder.com

Admittedly, XE is not:

  • The best choice for sending less than $1 (but who does that?)
  • Ideal for those individuals or companies not willing to provide identification before making a transfer. Yet, that’s contrary to international regulations in any case.
  • The money services business for those who want to pay on a cash or credit card basis.
  • The least expensive provider in the marketplace, nor are we the most expensive. You can’t beat us for value for your money though.

Whether you need to transfer rand to pay suppliers in South Africa, make a condo down payment in Dirhams to Dubai, or send krona to your sweetheart in Sweden, XE Money Transfer makes it easy and affordable.

 

Mark Burdon

Mark is a content writer, editor, and digital marketing specialist at XE, based in Newmarket, Ontario. Before joining XE, he worked with IBM, Open Text, TELUS and Canada Post.

 

 

 

 

Source

Get in touch with XE.com

About XE.com

XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.

Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.

Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multibillion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.

Are you curious to know more about XE?
Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.

 

 

Visit XE.com

Visit XE partner page

 

 

 

Currency markets impacted by a number of factors as we open a new decade

| 9-1-2020 | treasuryXL | XE |

The markets have been exposed to some real turmoil. In the wake of the tensions in the Middle East, we have seen a general decline of stocks and move toward typical risk on plays – treasuries are up overall, gold is trending higher and so is oil. Very generally there are a number of themes affecting the major crosses.

Let’s get up to speed and examine these broadly:

GBP:

On one hand, there have been an increase of investment monetary inflows based on economic data. Add to this a general sentiment of rate hikes from the Bank of England still being on the table and a very likely sense of uncertainty or even fear from European exporters with the ECB under a great deal of pressure to stabilise/raise inflation (and be inventive in doing so) and Italy dragging the boat down somewhat there is every opportunity for the trade items to play out in a buoyed GBP. There are a few ‘watch out’ aspects, though. These may include things like monetary policy having been kept on hold due to Brexit (and there could be a case to see the Conservatives attempt to waylay Bank of England’s efforts to raise rates) and the possibility that investors have priced a recession into investment outlook. When reviewing 17 institutional banks’ forecasts for 2020, the consensus is for a rate to the Dollar of 1.3400.

USD:

Again, a tale with two sides to the coin. The Federal Reserve has added liquidity to the repurchase market (short version of this mini-crisis is: that the amount of available cash in this market dropped exactly as the demand for borrowing jumped which made interest rates look outlandish – the added liquidity settles this and resumes a better velocity of money, or speed of funds flowing through the economy). There are still some divisions remaining in terms of the Fed’s outlook for rates, meaning that stabilising and stopping rate cuts isn’t technically off the table. The uncertainty in the Middle East in the clash between the States and Iran means that investors have flocked to the safe-haven currency of the Dollar and add to this some very real concerns about the strength of the global economy and growth forecasts, meaning that safe haven movement could have longer to garner flight to the Dollar all could point to a near to medium term robust USD. Temper this view with some very conflicting US economic data, muted inflation price pressures and China getting rid of bonds – which would force the States to increase its balance sheet.

EUR:

The EUR has had a short-term increase in currency strength versus the GBP, but this is largely from uncertainties of how trade will be arranged in finalising Brexit. There are widespread concerns that, if a deal may not be organised in the timeframe allotted, the UK could default to trading with the EU on World Trade Organisation terms, which are far less favourable than a direct agreement. As earlier mentioned, though, the EU has significant issues brewing in the form of inflation control via the ECB and from a very poor economic performance by Italy in the last 8-12 months in particular. There are green shoots of good news, though, with preliminary German consumer inflation figures looking far better than expected – a significant contribution to solving their issues given Germany’s size and relative impact on the bloc. All things said and done, against the context of uncertainty from geo-political risks and fiscal/trade uncertainties as well, the EUR could well be the net loser in the coming weeks.

Elsewhere in the world, the cost of the bush fires in Australia are touted at being ~$2bn AUD and climbing, but of course, the cost of people’s lives and the lives and environment for their unique and rich wildlife ecosystem will be immeasurable. Our hearts go out to the people of Australia and the brave service people fighting the disaster.

GBPEUR: 1.1800

GBPUSD: 1.3198

EURUSD: 1.1183

The figures are based on the live mid-market rate, correct as of 08:30 GMT on 07/01/2020, and are provided for indicative purposes only. Live mid-market rates are not available to consumers and are for informational purposes only. The rates we quote for money transfer can be selected via the page on our website ‘Live Money Transfer rates’.

Get in touch with XE.com

About XE.com

XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.

Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.

Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multibillion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.

Are you curious to know more about XE?
Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.

 

 

Visit XE.com

Visit XE partner page

How to save time and money with International Payments

| 2-1-2020 | treasuryXL | XE |

Do you often need to make global transactions? Deciding when to make an international payment and at what rate can be critical. You constantly need to check the markets for the best rates and hope for a great opportunity. But what if you don’t have time to sit and wait? XE can help and take care of it. With a range of solutions to help you access competitive rates with greater control.

Spot Transfer

Need to make a payment right away? Lock your rate for immediate and quick transfers.

With XE you can buy currency at the live exchange rate. If you are looking to purchase currency and make a payment right away, then a spot contract could be perfect for you.

Get started

 

 

Market Orders

Flexible with your transfer time? Pick a rate, transfer automatically when the market hits your desired rate.

Get started

 

 

 

 

Forward Contracts

Secure a rate for future transfers. Transfer any time at your secured rate within 3 years.

Get started

Get in touch with XE.com

About XE.com

XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.

Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.

Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multibillion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.

Are you curious to know more about XE?
Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.

 

 

Visit XE.com

Visit XE partner page

Possible Amendments to the Withdrawal Bill see Pound Fall Sharply

| 19-12-2019 | treasuryXL | XE |

Boris Johnson will bring his Brexit bill before a new intake of MPs this week without some of concessions he made before the election. The Withdrawal Agreement Bill – the key legislation that will pave the way for the UK to leave the European Union on 31 January 2020 – is expected to come before the Commons on Friday.

Under Johnson’s plan Britain is to leave the EU on 31 January once the bill passes, at which point the transition phase with the EU kicks in. During this period, the UK is expected to leave the customs union and single market and enter new negotiated arrangements, but will follow most EU law like other member states. However, it will not have voting rights like other member states.

News on the morning of the 17th has suggested that the Brexit bill is thought to have been rewritten since the one that was backed at the second reading by the previous Parliament. The Conservatives now  have a majority of 80 which means that Johnson is unlikely to bring forward concessions to his Brexit bill that he suggested he would consider at the time. Those include clause 30, allowing MPs to vote on an extension to the transition period beyond 2020 if a free trade deal was not struck in time.

With the new legislation looking to legally prevent delaying a departure beyond 2020 there is a risk that leaving with no deal is back on the table. This new amendment has seen the Pound drop over 1% against the dollar and the Euro. We are now back to the levels we were trading at before the election, with GBPUSD down from 1.35 on Friday to 1.3190 and GBPEUR down to 1.1846 from 1.20+ last week.

It is a fairly data heavy day today with UK average earnings, ILO employment data and Mark Carney speaking which could continue to see volatility in the Pound.

GBPUSD– 1.3190

GBPEUR– 1.1857

EURUSD– 1.1134

The figures are based on the live mid-market rate, correct as of 09:00 GMT on 17/12//2019, and are provided for indicative purposes only. Live mid-market rates are not available to consumers and are for informational purposes only. The rates XE quotes for money transfer can be selected via the page on XE’s website ‘Live Money Transfer rates’.

Get in touch with XE.com

About XE.com

XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.

Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.

Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multibillion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.

Are you curious to know more about XE?
Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.

 

 

Visit XE.com

Visit XE partner page

treasuryXL announces partnership with XE.com

| 12-12-2019 | treasuryXL | XE |

treasuryXL announces partnership with XE.com, The World’s Trusted Currency Authority and provider of currency data, FX Risk Management and Technology solutions for businesses

VENLO, The Netherlands, DECEMBER 12, 2019 – treasuryXL, the community platform for everyone who is active in the world of treasury, today announced the premium partnership with the world’s most trusted currency authority XE.com.

XE.com is the first major currency specialist to work with treasuryXL. As a marketplace, treasuryXL will offer XE.com market commentary and insight to her audience. Offering a continuous flow of relevant treasury content, making treasury knowledge available, results in treasuryXL being the obvious go-to platform for its’ audience. The partnership kicks off with the new ‘Treasury Topic’ environment where XE.com will have a prominent role in the FX, risk management, payments and FinTech environment.

XE.com is the world’s most popular foreign exchange website, and a leading global destination for foreign exchange rate tools and data. XE Business Solutions support companies across the world with robust responses to unpredictable currency markets; whether they rely on XE for information about currency markets, seek support when managing their FX risk, or trust them with business-critical international payments.

treasuryXL and XE.com strive for a fruitful partnership where its’ audience are top of mind making sure that (potential) clients are always up to date with the latest global currency news and benefit from a comprehensive range of currency services and products. XE Business Solutions and currency expertise provide companies with robust responses to unpredictable currency markets, so that bottom line is protected by currency risk and not impacted by it.

About treasuryXL

treasuryXL started in 2016 as a community platform for everyone who is active in the world of treasury. Their extensive and highly qualified network consists out of experienced and aspiring treasurers. treasuryXL keeps their network updated with daily news, events and the latest treasury vacancies.

treasuryXL brings the treasury function to a higher level, both for the inner circle: corporate treasurers, bankers & consultants, as well as others that might benefit: CFO’s, business owners, other people from the CFO Team and educators.

treasuryXL offers:

  • professionals the chance to publish their expertise, opinions, success stories, distribute these and stimulate dialogue.
  • a labour market platform by creating an overview of vacancies, events and treasury education.
  • a variety of consultancy services in collaboration with qualified treasurers.
  • a broad network of highly valued partners and experts.

About XE.com

XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.

Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.

Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multibillion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.

Are you curious to know more about XE?
Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.

 

 

Visit XE.com

Visit XE partner page