Hi All,
IMS is please to announce a new buisness partner Direct Auctions
Direct Auctions is the first property Auction House to become successful in Spain. Based in Puerto Banus, Marbella, the company offers a variety of properties for open auction from Malaga to Gibraltar. The objective of the company was to offer a direct alternative to buying and selling property – an alternative where service and professionalism would ensure clients on both sides would benefit from the lowest sales fees in Spain and with the knowledge that all properties are pre-conveyed. The properties range from plots of land with licenses to build, old farm houses for reforming, brand new apartments close to completion, resale properties, townhouses and commercial units to top end luxury villas. The main consideration is the price is keen and often properties have savings of around 50% of open market valuations
Direct Auctions was formally launched in March 2003 with the first auction June 23rd 2003. The auction opened with an attendance of over 400 people, interested parties, bidders and the cameras from BBC’s Homes under the Hammer. There was a sale on the day and from then the company has become firmly established holding monthly live auctions and currently selling over 50% of each catalogue.
need to Buy Euros - Contact IMS Foreign Exchange
Wednesday, August 20, 2008
Friday, August 15, 2008
New Zealand Need to cut interest rates as recession takes hold
NEW ZEALAND Dollar exchange rate recovered a little and once again below the 2.7000 level. Personally i believe there is a lot of scope for the Kiwi Dollar to fall further and i would not rule out seeing Pound to NZ dollar exchange rate back at the 3.0000 to the Pound.
The economy is very weak with the news last night was that Retail sales volume fell for the second quarter in a row in the three months to June, backing views the economy is in recession and the central bank will keep cutting interest rates. The value of seasonally adjusted sales were down 0.2% on the previous quarter, and allowing for price movements, volumes fell 1.5%, according to official data released by Statistics New Zealand.
Bye for Now
IMS Foreign Exchange
Buying New Zealand Dollars - For the Best Exchange Rates contact US
The economy is very weak with the news last night was that Retail sales volume fell for the second quarter in a row in the three months to June, backing views the economy is in recession and the central bank will keep cutting interest rates. The value of seasonally adjusted sales were down 0.2% on the previous quarter, and allowing for price movements, volumes fell 1.5%, according to official data released by Statistics New Zealand.
Bye for Now
IMS Foreign Exchange
Buying New Zealand Dollars - For the Best Exchange Rates contact US
How not to pay Corporation Tax for Decades
This made me Laugh
Merrill set to avoid UK tax after 29 Billion US dollar
Merrill Lynch is unlikely to pay corporation tax in the UK for several decades after $29bn (16 billion Pounds) of losses suffered by the US investment bank were charged to its London-based subsidiary.
So how not to pay taxes - lose your shirt!
Keep smiling
IMS Foreign Exchange
Pounds to US Dollar exchange rate is trading 1.9571
Merrill set to avoid UK tax after 29 Billion US dollar
Merrill Lynch is unlikely to pay corporation tax in the UK for several decades after $29bn (16 billion Pounds) of losses suffered by the US investment bank were charged to its London-based subsidiary.
So how not to pay taxes - lose your shirt!
Keep smiling
IMS Foreign Exchange
Pounds to US Dollar exchange rate is trading 1.9571
Thursday, August 14, 2008
What’s Happening This Morning in Foreign Exchange Markets
What’s Happening This Morning in Foreign Exchange : The US dollar traded sideways yesterday, opening around 1.4890 at 8 am and closing around 1.4919 at 6 pm in New York. This is a tiny rise in the euro—but other currencies put in proportionately bigger gains, like the Canadian and Australian dollars, and chart-readers could easily talk themselves into seeing the makings of a correction.
Even the Pound was so oversold that it flattened on the hourly chart, and we got a buy signal for the yen in futures.
Important indicators like the MACD, relative strength and the awful stochastic oscillator all pointed upward.
It looked like a correction was about to occur, and since the US dollar’s move up was so big and fast, it might be justifiable to imagine the correction would be equally big and fast. Well, we have a corrective impulse but so far it’s not worth much—a few points, and hardly convincing. Those of us who jumped on the early warning signs of a correction are eating crow this morning—but don’t forget CPI at 8:30 am ET. There is still room for it to take off—or fail miserably.
That is why conditional trades were invented.
Happy Trading
Barbara Rockefeller
For the best exchange rates when Buying Euros visit IMS
Even the Pound was so oversold that it flattened on the hourly chart, and we got a buy signal for the yen in futures.
Important indicators like the MACD, relative strength and the awful stochastic oscillator all pointed upward.
It looked like a correction was about to occur, and since the US dollar’s move up was so big and fast, it might be justifiable to imagine the correction would be equally big and fast. Well, we have a corrective impulse but so far it’s not worth much—a few points, and hardly convincing. Those of us who jumped on the early warning signs of a correction are eating crow this morning—but don’t forget CPI at 8:30 am ET. There is still room for it to take off—or fail miserably.
That is why conditional trades were invented.
Happy Trading
Barbara Rockefeller
For the best exchange rates when Buying Euros visit IMS
Australian Interest Rates look like falling
Hi All,
Good news for those of you that have a Australian Mortgage or need to buy Pounds to Australian Dollars. The Reserve Bank of Australia has said that it would not wait for inflation to slow before lowering interest rates, sending the Aus Dollar close to seven-month lows.
RBA officials said they were confident annual core inflation, which was at a 17-year high of 4.4%, could be brought back to its 2%-3% target range as households cut back on spending in the face of high mortgage costs and fuel prices. "We cannot wait to see a fall in inflation before we start cutting rates because by then it would be too late," RBA deputy governor Ric Battellino told lawmakers.
So the Americans and the Australian's have decided that inflation isnt the problem - growth and the threat of a recession is - will the Europeans and the British follow suit.
For Best Australian Dollar Exchange Rates contact IMS Foreign Exchange
Good news for those of you that have a Australian Mortgage or need to buy Pounds to Australian Dollars. The Reserve Bank of Australia has said that it would not wait for inflation to slow before lowering interest rates, sending the Aus Dollar close to seven-month lows.
RBA officials said they were confident annual core inflation, which was at a 17-year high of 4.4%, could be brought back to its 2%-3% target range as households cut back on spending in the face of high mortgage costs and fuel prices. "We cannot wait to see a fall in inflation before we start cutting rates because by then it would be too late," RBA deputy governor Ric Battellino told lawmakers.
So the Americans and the Australian's have decided that inflation isnt the problem - growth and the threat of a recession is - will the Europeans and the British follow suit.
For Best Australian Dollar Exchange Rates contact IMS Foreign Exchange
Wednesday, August 13, 2008
Best day to Buy Euros - that was yesterday
Hi all,
what a difference a day can make. I like many others thought that the pounds to Euros exchange rate was finally going to go above 1.3000 and be a great time to Buy Euros - it wasn't to be. Foreign Exchange Traders were buying Euros up above the 1.2800 level as the currency market works decided to sell Euros straight away.
The main problem for the Pound is that it just wont go up!
The old saying you never go broke selling the pound still applies and with the stream of bad news can you blame the foreign exchange markets of punishing our beloved currency?
Today it was the Bank of England talking in riddles about the current inflation and interest rates outlook.
On the right hand inflation is running around 5 percent therefore we need to keep interest rates where they are otherwise we end up being a Banana Republic (never thought i would be able to quote Paul Keating former Australian Prime Minister).
On the left hand consumer and business confidence, Housing prices and growth are headed to down the plug hole. Don't worry about getting a mortgage anymore as housing prices are set to fall the same way as the French and Spanish property markets have. So this means that the Bank of England needs to cut rates.
WRONG
In true British style we are going to sit on the fence!
Personally i believe we need to cut interest rates 0.50 percent next month - get consumer and business confidence bask as quickly as possible than regin in inflation. It seams to be working for the US Dollar and economy.
Only time will tell
and if you need to Buy Euros - best exchange rates contact us
Bye for Now
IMS Foreign Exchange
Pounds to Euros currently 1.2525
Pounds to US Dollars currently 1.8700
Pounds to Australian Dollars currently 2.1334
what a difference a day can make. I like many others thought that the pounds to Euros exchange rate was finally going to go above 1.3000 and be a great time to Buy Euros - it wasn't to be. Foreign Exchange Traders were buying Euros up above the 1.2800 level as the currency market works decided to sell Euros straight away.
The main problem for the Pound is that it just wont go up!
The old saying you never go broke selling the pound still applies and with the stream of bad news can you blame the foreign exchange markets of punishing our beloved currency?
Today it was the Bank of England talking in riddles about the current inflation and interest rates outlook.
On the right hand inflation is running around 5 percent therefore we need to keep interest rates where they are otherwise we end up being a Banana Republic (never thought i would be able to quote Paul Keating former Australian Prime Minister).
On the left hand consumer and business confidence, Housing prices and growth are headed to down the plug hole. Don't worry about getting a mortgage anymore as housing prices are set to fall the same way as the French and Spanish property markets have. So this means that the Bank of England needs to cut rates.
WRONG
In true British style we are going to sit on the fence!
Personally i believe we need to cut interest rates 0.50 percent next month - get consumer and business confidence bask as quickly as possible than regin in inflation. It seams to be working for the US Dollar and economy.
Only time will tell
and if you need to Buy Euros - best exchange rates contact us
Bye for Now
IMS Foreign Exchange
Pounds to Euros currently 1.2525
Pounds to US Dollars currently 1.8700
Pounds to Australian Dollars currently 2.1334
Tuesday, August 12, 2008
The UK reported a veritable blizzard of bad news today—no wonder the Pound was is falling off the cliff.
The UK reported a veritable blizzard of bad news today—no wonder the Pound was is falling off the cliff.
The Royal Institution of Chartered Surveyors said the number of agents and surveyors reporting lower prices exceeded those reporting gains by 83.9% in July, bringing the housing market to a “virtual standstill.” All 11 regions showed negative price balances on the month. This is consistent with the reports from mortgage lenders. Separately, the government reported June house prices up 0.6% y/y after 0.3% in May.
Surely buying activity rises when prices bottom, but they seem to be rising still (although the RICS report is for July and the government report on house prices is for June). Hmm.
The British Retail Consortium reports July like-for-like retail sales down 0.9% after a June drop of 0.4%. Total sales rose 1.7% y/y after 2.1% y/y in June. Market News says “UK consumer spending is fading.”
July consumer price inflation jumped to 4.4% from 3.8% in June, the highest since April 1992 and over forecasts of 4.1%. The FT reports that CPI inflation has now climbed almost 2% in the last four months, “and is set to spike higher as big increases in utility tariffs take effect.” An analyst said it’s almost certain inflation will rise above 5% in the next few months.
We get the BoE policy committee Inflation Report tomorrow.
Clearly the scope for a interest rate cut to goose business is getting tiny, if it still exists at all. Having said that, the rise in inflation is due to energy prices and food, not things that monetary policy can affect. Food and drink has risen 12.3% y/y, the fastest in 10 years. Still, core inflation is up to 1.9% from 1.6%, so rising prices are more broad-based. To make life difficult, the retail price index (includes mortgages) rose to 5% (from 4.6%), and the RPIX index (excludes mortgage interest payments) rose to 5.3%.
All in All the Pound is in trouble
Bye For Now
Barbara Rockefeller
Best Exchange Rates visit IMS Foreign Exchange
The Royal Institution of Chartered Surveyors said the number of agents and surveyors reporting lower prices exceeded those reporting gains by 83.9% in July, bringing the housing market to a “virtual standstill.” All 11 regions showed negative price balances on the month. This is consistent with the reports from mortgage lenders. Separately, the government reported June house prices up 0.6% y/y after 0.3% in May.
Surely buying activity rises when prices bottom, but they seem to be rising still (although the RICS report is for July and the government report on house prices is for June). Hmm.
The British Retail Consortium reports July like-for-like retail sales down 0.9% after a June drop of 0.4%. Total sales rose 1.7% y/y after 2.1% y/y in June. Market News says “UK consumer spending is fading.”
July consumer price inflation jumped to 4.4% from 3.8% in June, the highest since April 1992 and over forecasts of 4.1%. The FT reports that CPI inflation has now climbed almost 2% in the last four months, “and is set to spike higher as big increases in utility tariffs take effect.” An analyst said it’s almost certain inflation will rise above 5% in the next few months.
We get the BoE policy committee Inflation Report tomorrow.
Clearly the scope for a interest rate cut to goose business is getting tiny, if it still exists at all. Having said that, the rise in inflation is due to energy prices and food, not things that monetary policy can affect. Food and drink has risen 12.3% y/y, the fastest in 10 years. Still, core inflation is up to 1.9% from 1.6%, so rising prices are more broad-based. To make life difficult, the retail price index (includes mortgages) rose to 5% (from 4.6%), and the RPIX index (excludes mortgage interest payments) rose to 5.3%.
All in All the Pound is in trouble
Bye For Now
Barbara Rockefeller
Best Exchange Rates visit IMS Foreign Exchange
Tuesday, August 5, 2008
US dollar benefited from falling oil prices
The US dollar benefited from falling oil prices yesterday (under $120) and rose against all other currencies except the Mexican peso, which is on a tear of its own (possibly due to speculative repatriation). At 8 am, the Euro opened the US day at 1.5576 and closed the day around 1.5570, which doesn’t sound like much but represents a nice drop from the early morning high at 1.5632. In other words, traders were buying Euros tried to rally the Euro and failed. This did not go unnoticed overnight in Asia, where traders were selling Euros through the Friday low at 1.5510 and into the 1.5400 territory a round number breakout.
At 7:53 am ET, the price of oil is $118.82. The US dollar doesn’t get full credit for the Euro it’s weak across the board, including the yen and pound crosses.
The Pound, meanwhile, fell dramatically in mid-morning in the US, with Currency Traders trying to rally it but managing only 1.9718 before bears got the upper hand and tanked it over 100 points down to 1.9597, again a round-number breakout. Overnight the currency market took the pound down as low as 1.9518, or 200 points in less than 24 hours.
Australian Dollar suffered as the The Reserve Bank left rates on hold at 7.25% but Gov Stevens said "The board judged that the cash rate should remain unchanged this month. Nonetheless, with demand slowing, the board's view is that scope to move towards a less restrictive stance of monetary policy in the period ahead is increasing." The Australian Dollar fell off the cliff. The next policy meeting is Sept 2. A cut then would be the first in 7 years. For the
Full Story visit Rockefeller Treasury Services
For the Best Exchange Rate contact IMS Foreign Exchange
Pounds to Euros currently 1.2593
Pounds to US Dollars currently 1.9621
Pounds to Australian Dollars currently 2.1086
At 7:53 am ET, the price of oil is $118.82. The US dollar doesn’t get full credit for the Euro it’s weak across the board, including the yen and pound crosses.
The Pound, meanwhile, fell dramatically in mid-morning in the US, with Currency Traders trying to rally it but managing only 1.9718 before bears got the upper hand and tanked it over 100 points down to 1.9597, again a round-number breakout. Overnight the currency market took the pound down as low as 1.9518, or 200 points in less than 24 hours.
Australian Dollar suffered as the The Reserve Bank left rates on hold at 7.25% but Gov Stevens said "The board judged that the cash rate should remain unchanged this month. Nonetheless, with demand slowing, the board's view is that scope to move towards a less restrictive stance of monetary policy in the period ahead is increasing." The Australian Dollar fell off the cliff. The next policy meeting is Sept 2. A cut then would be the first in 7 years. For the
Full Story visit Rockefeller Treasury Services
For the Best Exchange Rate contact IMS Foreign Exchange
Pounds to Euros currently 1.2593
Pounds to US Dollars currently 1.9621
Pounds to Australian Dollars currently 2.1086
Monday, August 4, 2008
US Dollar survived an effort to rally the Euro
What’s Happening This Morning : The US Dollar is softer this morning, hitting a high of 1.5600 after Europe took the baton from Asia, but sailed through last week’s data minefield net up on the week. From a high of 1.5869 last Monday, it closed Friday around 1.5566 and survived an effort to rally the euro on Thursday that gave us only an unsustainable spike high (to 1.5700).
We have now had a series of three lower lows off the record high of 1.6038 on July 15 and a corresponding series of lower highs, and these are the basic criteria for a downtrend. We have every right to expect a test of the previous low from June 13 at 1.5301—unless a Shock comes along, or a Surprise, or a Shocking Surprise.
The US dollar vs Japanese Yen is flirting again with the recent high at 108.40—but after that, still facing serious resistance at the 108.58 high, the highest high from February. Market News says support is seen at 107.00 and after that, 106.45/70.
Bye For Now
Barbara Rockefeller
Best Exchange Rate - Visit IMS Foreign Exchange
We have now had a series of three lower lows off the record high of 1.6038 on July 15 and a corresponding series of lower highs, and these are the basic criteria for a downtrend. We have every right to expect a test of the previous low from June 13 at 1.5301—unless a Shock comes along, or a Surprise, or a Shocking Surprise.
The US dollar vs Japanese Yen is flirting again with the recent high at 108.40—but after that, still facing serious resistance at the 108.58 high, the highest high from February. Market News says support is seen at 107.00 and after that, 106.45/70.
Bye For Now
Barbara Rockefeller
Best Exchange Rate - Visit IMS Foreign Exchange
Australian House Prices Continue to Fall
Australian Capital city house prices have declined by the sharpest rate in more than three years, inflicting further pain on home owners faced with 12-year high interest rates.
The Australian Bureau of Statistics house price index - which calculates the average for the country's eight capitals - fell 0.3 per cent in the June quarter.
This left the annual rate at its slowest pace in two years at 8.2 per cent, compared with 13.2 per cent growth in year to March.
Economists had expected a fall of 1.0 per cent for the June quarter.
The report adds to a slew of other data showing the economy is slowing sharply, raising speculation the Reserve Bank of Australia (RBA) will cut interest rates before the end of the year.
The RBA holds its monthly board meeting tomorrow, but economists expect it to keep its key cash rate unchanged for a fifth straight month.
Perth suffered the biggest drop in house prices, falling 2.4 per cent in the June quarter, and are now dropping at an annual rate of 0.9 per cent. Hobart reported a 2.0 per cent decline and Canberra 1.4 per cent fall. Darwin saw the biggest increase with a rise of 1.9 per cent, while the country's largest housing market - Sydney - rose 0.3 per cent.
Full Story visit News.com.au
For the Best Exchange Rate visit IMS Foreign Exchange
Pounds to Australian Dollars currently 2.1100
The Australian Bureau of Statistics house price index - which calculates the average for the country's eight capitals - fell 0.3 per cent in the June quarter.
This left the annual rate at its slowest pace in two years at 8.2 per cent, compared with 13.2 per cent growth in year to March.
Economists had expected a fall of 1.0 per cent for the June quarter.
The report adds to a slew of other data showing the economy is slowing sharply, raising speculation the Reserve Bank of Australia (RBA) will cut interest rates before the end of the year.
The RBA holds its monthly board meeting tomorrow, but economists expect it to keep its key cash rate unchanged for a fifth straight month.
Perth suffered the biggest drop in house prices, falling 2.4 per cent in the June quarter, and are now dropping at an annual rate of 0.9 per cent. Hobart reported a 2.0 per cent decline and Canberra 1.4 per cent fall. Darwin saw the biggest increase with a rise of 1.9 per cent, while the country's largest housing market - Sydney - rose 0.3 per cent.
Full Story visit News.com.au
For the Best Exchange Rate visit IMS Foreign Exchange
Pounds to Australian Dollars currently 2.1100
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