Sterling slips up in September. Optimistic October?
Sterling struggled at the end of September falling to its lowest price against the Dollar since the end of May. The Governor of the Bank of England's comments that a weaker Pound would help rebalance the U.K economy was like an early Christmas present for U.K exporters......and an open invitation to traders to sell Sterling.The U.S economy shows signs of stabilization but Friday's non farm payroll figures showed that the spectre of high unemployment will remain well into 2010. U.S. job losses last month reached 263k, far above expectations, with the unemployment rate rising to 9.8 percent.Septembers MPC meeting kept U.K interest rates on hold but more importantly decided not add to the 175 Billion set aside for Quantative easing. This gave the Pound a short term boost to its month high of 1.67.Where does this leave the Pound in October? The recent sell-off in the stock markets shows a return to a risk averse mentality, a market trend that favors the Dollar strengthening. The U.S economies continuing struggle to emerge from recession will help the Dollar in the short term. Sterling must break above 1.60 otherwise its downward trend may continue.EUR/USDPresident of the ECB Jean-Claude Trichet echoed Mervyn King's comments in Championing a stronger Dollar. The Euro has gained over 15% since February and hit a 12 month high in September of 1.48. Expect the Euro to trade around its current levels in October as it still benefits from a higher interest yield and the Euro zones comparatively better GDP than the U.S.CAD/USDThe Loonie fluctuated aggressively throughout the month. Mixed news from the Canadian economy, with improved manufacturing data being offset by negative retail sales figures made for an interesting month. With the U.S as its biggest trading partner no Canadian government will want the Loonie to trade too high against the Dollar.Let us help your clients get the best possible rate. It pays to use the experts.Sincerely, Laura McLoughlinRegional Manager MoneyCorp

New Website

Dear Members,

The new website is finally going live this week and I am positive that you will see it has been well worth the wait!

We need your Bio, logo, and website link emailed to us ASAP!

If you aren't a member yet, I'm sure that you will agree, the exposure for your company is now worth alot more than the membship fee alone!

http://www.britishamericanchamberorlando.com/

Live on Thursday!!!!!!!!!!!!

Dear members,

We are about to release a new, improved, and fabulous website designed by Dr. Jack of TCDG Studios! We are just updating the site with the member information which will now be accessible by the public with no password.

All members can now have their logo, bio, and a link to their website on our site so you should see in increase in traffic to your site.

Please email your logo and bio to info@britishchamberorlando.com and watch your membership pay for itself! If you haven't renewed, NOW is the time!

Have a Great Labor Day!

July Currency Update by MoneyCorp

July 16th Fish & Chips Supper at the Cricketers Arms from 5:30-7:30pm
Please RSVP as sell out is expected! $12 members/ $15 non-members
info@britishamericanchamberorlando.com

Are you (or anyone you know) on an E-2 Visa? We'd like to know as E-2 visa reform will be one of the BACC's initiatives. Please contact us as you have strength in numbers! This information will not be published, we are simply looking to lend our support and need to know who you are.



July Currency Update from our Platinum Sponsor MoneyCorp
July 1, 2009

Recent Movements...

GBP/USD

Florida's weather wasn't the only thing heating up in June... Sterling reached an 8 month high on June 30th. Growing hopes of a global recovery prompted investors to shift funds from the safe-haven US currency to higher yielding assets. In this scenario, Sterling usually wins and ultimately reached 1.6715, albeit assisted by positive data confirming house prices had risen in Britain for the second consecutive month.CAD/USD

The Canadian Dollar was also under pressure and in June hit a low against the US Dollar. With CAD coming to its year end, the low may be attributed to last-minute activity. Canadian sellers should look to see if a slight correction can be achieved whilst buyers should seize the moment.
EUR/USD

Although The Euro is struggling against Sterling, it is performing reasonably well against the US Dollar. The Euro zone is still considered vulnerable as investors believe the economy has yet to reach its bottom. Analysts are predicting a stable EUR/USD rate in July with investors looking at how Sterling will perform against both currencies. If you have a client who needs to make a global payment in July, call your Account Manager today.

Let us help your clients get the best possible rate.


It pays to use the experts.


Sincerely,

Laura McLoughlin
Regional Manager

Welcome

Welcome everyone to the new blog of the British American Chamber of Commerce, we are committed to making this your Chamber and uniting the voice of the British American business community in Central Florida.

We want your input and hope to engage you in any subjects of interest from immigration reform to how to stay in business in this economy.

Tomorrow we are having a luncheon at the Disney Entrepreneur Center with Executive Director (DEC) speaking on "Doing Business in Tough Times". We have so many great events coming up from our DreamFlight charity Golf Event on April 23rd to Sir Allen Collins, head of UKTI speaking in June at an Olympics kick-off.

Right now, the hardest part of staying above water is keeping your attitude positive and we are certainly that! Just don't forget that if you are not seen out and about right now, people assume that you are out of business. Staying in your office, depressed and occasionally checking your phone to make sure that it still works is not the way to get through this difficult economy. Become engaged.... join us at events, blog with us, join the Chamber and then a committee.....

It Works for your business and it certainly helps keep your attitude positive!