Options Available For Pensions Qrops And Qnups
We continue our daily look at factors affecting currencies allowing some insight into market conditions affecting exchange rates
. Cash and income timing for UK Pensions and
QROPS should be considered to maximise the Pension, QROPS and investment income and benefits taken.
Investment market volatility and currency exchange remains a challenge. Things are still very volatile and we are in unique global influencing territory. In conjunction with investment returns, currency exchange continues to concern many expats with UK Pensions, QROPS and now QNUPS.
Sterling has risen to a 5-month high against the US dollar of $1.5663. Recent
UK data supports this, although the housing sector has weakened somewhat.
The majority of UK data has been surprisingly upbeat, with in particular 2nd quarter GDP and July CBI retail sales, the releases which have stood out.
However, we have seen weak housing data come out on Thursday, as UK mortgage approvals came in below expectations, following a softer Nationwide house survey. This didnt have much effect on sterling, but analysts sounded cautious going forward.
It is hard at this stage to be optimistic about house prices in 2011 because the fiscal squeeze will increasingly kick in, which will hit people's pockets and could lead to serious job losses in the public sector.
Europe: the headline unemployment rate in Germany fell 0.1% to 7.6% in July. In a separate report, economic and industrial confidence improved by more than expected across the EU nations. This upbeat data follows a string of recent indicators which suggest the condition of the Eurozone has improved, especially as the euro has weakened, boosting their exports.
The euro has rebounded quite sharply against the US dollar, which is showing no signs of abating. However, this could count against the recovery of the weaker EU nations, like Greece and Portugal, who are already struggling to overcome their huge budget deficits.
Germany has been the hero so to speak, with their robust economy turning around the euro. Germany is heavily dependent on its export industry but if a higher euro starts to hurt German exports, we could see German growth begin to falter, which does not bode well for the rest of the region.
In the short-term, however, EUR/USD is being driven by a move away from the US dollar, as investors await US GDP figures, due to be released later today.
The latest jobless claims report showed improvement in the US labour market. Even though weekly jobless claims remains above the 450K level, the fact that it did not rise for a second week in a row, was a relief, albeit the amount of continuing claims rose by 1.8% to 4.565 million.
This is still a massive figure and it will be sometime before this turns positive on the US economy.
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 Pensions, investments, currency exchange and guidance on taxation in most popular sunnier climates. This with the re-assurance and security of UK authorised and regulated advice essential tools for your security.
by: adieaston
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