subject: Take Charge Of Your Moneyqrops Pensions [print this page] 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).
The pound never really gained any sustained momentum on a day that saw data released from all of the major economies. The uncertainty began with GBP moving away from its one month high against the USD prior to the release of the UK Retail Sales data. The forecast was to be of a rise of 0.3% in August which was viewed as a more realistic statistic after the unexpected surge in the month of July. (The poor weather being the major influence over a fall in sales of summer food and clothing.) CIBC was quoted as saying, Retail sales are pivotal to the UK growth story as consumption is a key element to the economy. The bias is towards a softer reading which would weigh on Sterling. The figure that emerged was a 0.5% fall, which was interpreted that people are cutting back in the times leading up to the eye watering spending cuts planned by the government later this year.
The pounds woes were further compounded by the release of The Industrial Trends Survey. This showed a drop during the month of September to -17 that again thwarted the forecast of a positive prediction of -12. Despite the negative movement, a statement accompanying the figure read, UK manufacturers still expect production to grow solidly in the next three months and demand held up reasonably well in September.
The Euro enjoyed seven week highs vs. GBP, helped not only by sterlings negative sentiment but with a Spanish debt sale. These eased the ongoing concerns within the market that peripheral Euro zone countries can responsively manage sizeable debt burdens. The EUs trade balance was shown to be better than expected. The exports and imports assessment as released by Eurostat shows the Trade Balance sat on a 0.2Bn deficit while the n.s.a. balance jumped to a 6.7 Bn surplus.
In the US, we saw the release of positive data which barely affected the overall standing of the greenback. The release of the US jobless claims posted a slight negative against market expectations. They fell by 3000 during the week of September 11th to a total of 450,000 claims against market expectations of an increase to 460,000. The Bureau of labour statistics released Augusts producer Price index, with month on month appearing at 0.4% and year on year at 3.1%. PPI excluding food and energy posted at 0.1% monthly and 1.3% for the year.
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.
This with the reassurance and security of UK FSA authorised and regulated advice - essential for your security.
by: RusselMori
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