UK expats for EU exit

[jpinx]

The FTSE is now higher than at any time back to about September 2015 --

https://chart.finance.yahoo.com/z?s=%5eFTSE&t=1y&q=&l=&z=l&a=v&p=s〈=en-GB&region=GB

and higher now than at any time 2008 to 2014

http://charts.moneyam.com/Chart.aspx?Provider=EOD&Code=UKX&Size=603&Skin=GreenRed&Type=2&Scale=0&Span=YEAR10&MA=&OVER=&IND=&COMP=&XCycle=&XFormat=&Layout=Default;HisDate&SV=0&LP=0&LVT=0

Its a little more complicated than that, and far too soon to draw any real conclusions:

Over to the rightwing press for a better outline of what to look out for and when it will be available. http://www.telegraph.co.uk/business/2016/07/05/when-will-we-know-if-the-uk-economy-has-been-hit-by-brexit-and-w/

To be lead by what a journalist thinks and writes is a road to destruction. Since when did any journalist make an accurate predicition? If they did - they'd all be millionaires.

As for the "Its a little more complicated than that...." -- bullshit -- it is what it is and the trend is clear.

Once again, I am pleased to see your unequivocal statements that we can come back to at a later date.

long-term and short-term -- explanations not needed for anyone with any experience of graphs

Edited July 14, 2016 by jpinx

[jpinx]

...

Siemens and other stalwarts of EU business have said they will increase investments in UK specifically because UK is leaving EU.

...

Can you put up a link where Siemens have said they are increasing investment in the UK BECAUSE the UK is leaving the EU.

I've capitalised the 'Because' since I want to make sure you don't miss it in your response. ('Despite of' does not mean 'Because of').

You are quoting reporters words -- not the bosses words....

“The UK matters with or without being a member of the EU. The Brexit vote will not diminish our commitment to your country. Siemens will not leave the next generation behind, ” Kaeser said.

Now I'm quoting your words, your claim that - "Seimens and other stalwarts of EU business have said they will increase investment in the UK specifically because UK is leaving the EU"

With the words you have kindly provided from Kaeser.

Your 'avin' a larf

More about the Seimens position -- from the telegraph and others ....

Mr Kaeser said the company had been misunderstood in the heat of the Brexit campaign when it was widely seen as a cheer-leader for Remain. Corporate damage-control is underway at the highest level.

“We never said the UK is in bad shape if it leaves the EU: we said the EU would miss a massive opportunity. Without the UK, the EU may never be able to stand up against superpowers like China and the US,” he told the Daily Telegraph and three other UK newspapers.....

not single sourcing information from obscure reports that suit a contrary viewpoint -- as some people do

http://www.bournemouthecho.co.uk/business/news/14615237.Siemens_WILL_invest_in_UK_despite_Brexit_warnings/

The bournemouth echo??? now who's having a laugh

Edited July 14, 2016 by jpinx

[GuestHouse]

long-term and short-term -- explanations not needed for anyone with any experience of graphs

Though an understanding of the impact of exchange rates on foreign currency asset values might help.

[GuestHouse]

More about the Seimens position -- from the telegraph and others ....

Mr Kaeser said the company had been misunderstood in the heat of the Brexit campaign when it was widely seen as a cheer-leader for Remain. Corporate damage-control is underway at the highest level.

“We never said the UK is in bad shape if it leaves the EU: we said the EU would miss a massive opportunity. Without the UK, the EU may never be able to stand up against superpowers like China and the US,” he told the Daily Telegraph and three other UK newspapers.....

not single sourcing information from obscure reports that suit a contrary viewpoint -- as some people do

http://www.bournemouthecho.co.uk/business/news/14615237.Siemens_WILL_invest_in_UK_despite_Brexit_warnings/

The bournemouth echo??? now who's having a laugh

I'm quoting a single source YOU.

You said "Seimens and other stalwarts of EU business have said they will increase investment in the UK specifically because UK is leaving the EU"

Now prove that is what they said.

[nong38]

Tin Martin to be minister for pubs and real ale!

[jpinx]

long-term and short-term -- explanations not needed for anyone with any experience of graphs

Though an understanding of the impact of exchange rates on foreign currency asset values might help.

Seriously??? Maybe some references as to how FTSE and the market works will illuminate the readers here who wish to pursue the discussion...

https://en.wikipedia.org/wiki/FTSE_100_Index

".......FTSE, or, informally, the "Footsie" /ˈfʊtsi/, is a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalization. It is seen as a gauge of prosperity for businesses regulated by UK company law. The index is maintained by the FTSE Group, a subsidiary of the London Stock Exchange Group............"

http://www.ftse.com/products/indices/uk

"...... FTSE 100 Index (UKX) - comprises the 100 most highly capitalised blue chip companies listed on London Stock Exchange....."

http://www.londonstockexchange.com/prices-and-markets/markets/prices.htm

... for the current market.

This has nothing to do with any currency fluctuations. Ask any qualified broker.... I'm done with researching for folks in here -- do your own leg-work and prove your postings with valid references

Edited July 14, 2016 by jpinx

[jpinx]

Tin Martin to be minister for pubs and real ale!

I want to be a fly on the wall when Boris meets Putin I see the French are gunning for him already -- this is going to be great fun!!

Edited July 14, 2016 by jpinx

[chiang mai]

download.jpg

The £ has just went above 47 Baht.

Catch that sky.

Alleluia, we are all saved.

Opps!

http://www.fxstreet.com/rates-charts/gbpusd/chart

GBP/THB interbank rate 46.69

estimated TT rate Thai banks tomorrow 46.63

Let's stick to XE.com for the sake of a political argument -- it's a median rate and reflects the movements and trends quite well. A discussion about bank rates will be never-ending because of the number of different rates you can get. Every tried buying US$ in Cambodia with Thai baht?

.... Pound / euro

25 Jun 2016 21:00 UTC - 14 Jul 2016 15:05 UTC

GBP/EUR close:1.20085 low:1.16251 high:1.23006

No let's not stick with XE, the man in the street can't actually trade GBP/THB with XE hence the rate is not real. Any discussion about GBP/THB needs to be based on the average rate across all banks in Thailand, here: https://daytodaydata.net/

As of this moment that rate is 46.01.

[billd766]

I always stick with the KBank forex rate as it is the bank that I use, and which to me is far more accurate than XE because certainly in my case it tells me exactly how much money I get in THB for every transaction. My pensions are transferred to Thailand in GBP.I simply divide the amount of baht I get with the known amount of my pension which gives me the true rate of exchange that I get.

XE is always 50 or so satang above the amount that most bans in Thailand offer. It is great if you are dealing with millions of GBP. USD, AUD etc but for 95% or so of the people making forex transfers is is not correct.

It is similar to obtaining forex at your local bank in the UK/USA and getting your forex at the airport just before you check in to fly.

Different Thai banks have slightly different rates from each other and sometime the rate will change several times a day.

YMMV.

Edited July 14, 2016 by billd766

[chiang mai]

long-term and short-term -- explanations not needed for anyone with any experience of graphs

Though an understanding of the impact of exchange rates on foreign currency asset values might help.

Seriously??? Maybe some references as to how FTSE and the market works will illuminate the readers here who wish to pursue the discussion...

https://en.wikipedia.org/wiki/FTSE_100_Index

".......FTSE, or, informally, the "Footsie" /ˈfʊtsi/, is a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalization. It is seen as a gauge of prosperity for businesses regulated by UK company law. The index is maintained by the FTSE Group, a subsidiary of the London Stock Exchange Group............"

http://www.ftse.com/products/indices/uk

"...... FTSE 100 Index (UKX) - comprises the 100 most highly capitalised blue chip companies listed on London Stock Exchange....."

http://www.londonstockexchange.com/prices-and-markets/markets/prices.htm

... for the current market.

This has nothing to do with any currency fluctuations. Ask any qualified broker.... I'm done with researching for folks in here -- do your own leg-work and prove your postings with valid references

I'm not sure of whether it's a case that you don't understand or that you're simply and dogmatically fighting a corner in spite of fact but this matter is really quite simple:

"all companies listed on the LSE and eligible for the FTSE UK indices are ranked in order of their size, or market capitalisation (calculated by multiplying the number of issued shares of a company and the current share price)."

Where share or assets are issued in USD on the US markets, those assets must to revalued and marked to market to reflect their true value on the FTSE. So a company such as BAT for example is headquartered in the UK but has listings on the FTSE and on the SA and US exchanges, in local currencies, those foreign currencies are a part of BAT's balance sheet. If you want to see the impact of this first hand, look at the BAT web site which shows their share price on all three exchanges and see how their share value jumped significantly on the UK exchange but remained static on the US exchange. Why did that happen? Because a substantial part of BAT's income is generated in USD plus BAT shares on the US exchange, a part of BAT's balance sheet, are denominated in USD. None of those things had any impact on the US share price but had a huge impact on the UK price, because of the currencies involved.

http://www.bat.com/group/sites/UK__9D9KCY.nsf/vwPagesWebLive/DO52AJTV

[Flanno]

In the meantime is the GBP still falling against the Baht?

[chiang mai]

In the meantime is the GBP still falling against the Baht?

It seems to have ended/paused it's long drop and has risen slightly, more when the Thai banks open, close of business last was 46.01. GBP/USD is improving so perhaps a better rate on the Baht today.

[Naam]

No let's not stick with XE, the man in the street can't actually trade GBP/THB with XE hence the rate is not real. Any discussion about GBP/THB needs to be based on the average rate across all banks in Thailand, here: https://daytodaydata.net/

As of this moment that rate is 46.01.

the quotes of this site are misleading too after 17.00hrs local time because there's no update for 15 hours during which a lot can happen. but during trading hours it's the best applicable information. presently the difference is ~60 Satang!

[chiang mai]

No let's not stick with XE, the man in the street can't actually trade GBP/THB with XE hence the rate is not real. Any discussion about GBP/THB needs to be based on the average rate across all banks in Thailand, here: https://daytodaydata.net/

As of this moment that rate is 46.01.

the quotes of this site are misleading too after 17.00hrs local time because there's no update for 15 hours during which a lot can happen. but during trading hours it's the best applicable information. presently the difference is ~60 Satang!

Yes I agree, business hours only.

Surely however something similar must be true of XE and others, are they truly (lagged) real time, 24 hours a day, if so I'd be curious to understand how, Thomson Reuters perhaps?

[Jip99]

No let's not stick with XE, the man in the street can't actually trade GBP/THB with XE hence the rate is not real. Any discussion about GBP/THB needs to be based on the average rate across all banks in Thailand, here: https://daytodaydata.net/

As of this moment that rate is 46.01.

the quotes of this site are misleading too after 17.00hrs local time because there's no update for 15 hours during which a lot can happen. but during trading hours it's the best applicable information. presently the difference is ~60 Satang!

Forget the fiction and theory; the only rate that matters is the one at which you transact.

Given that you can only transact during business hours then only business hours rates are relevant. Example:- one instructs a Sterling transfer from the UK on a Thursday evening (after Thai banks closing time). The exchange rate will be applied the next morning when the Thai banks open; whatever has happened 'overnight' is irrelevant and uncontrollable.

[billd766]

In the meantime is the GBP still falling against the Baht?

It seems to have ended/paused it's long drop and has risen slightly, more when the Thai banks open, close of business last was 46.01. GBP/USD is improving so perhaps a better rate on the Baht today.

At 09.15 this morning the KBank forex rate was 46.20313.

At 09.17 this morning the XE forex rate was 46.96930, a 50 satang difference per £1 GBP.

It seemed to have bottomed out last Monday 11th July at 44.76063 and it seems to be creeping up a little bit most days.

For some odd reason it is usually lower on Monday mornings. I have no explanation but I am not a financial whiz kid.

[chiang mai]

In the meantime is the GBP still falling against the Baht?

It seems to have ended/paused it's long drop and has risen slightly, more when the Thai banks open, close of business last was 46.01. GBP/USD is improving so perhaps a better rate on the Baht today.

At 09.15 this morning the KBank forex rate was 46.20313.

At 09.17 this morning the XE forex rate was 46.96930, a 50 satang difference per £1 GBP.

It seemed to have bottomed out last Monday 11th July at 44.76063 and it seems to be creeping up a little bit most days.

For some odd reason it is usually lower on Monday mornings. I have no explanation but I am not a financial whiz kid.

My understanding is that brokers/dealers square their positions before close of play Friday meaning they hedge their open currency positions to where buy/sell equals zero. Control of forex markets then passes to Thompson/Reuters from Friday evening until Monday start of business hence transaction values are small and based on actuals. On Monday morning the volume picks up once again with dealers entering the market once again and taking less safe positions than they did on the weekend.

[KarenBravo]

More about the Seimens position -- from the telegraph and others ....

Mr Kaeser said the company had been misunderstood in the heat of the Brexit campaign when it was widely seen as a cheer-leader for Remain. Corporate damage-control is underway at the highest level.

“We never said the UK is in bad shape if it leaves the EU: we said the EU would miss a massive opportunity. Without the UK, the EU may never be able to stand up against superpowers like China and the US,” he told the Daily Telegraph and three other UK newspapers.....

not single sourcing information from obscure reports that suit a contrary viewpoint -- as some people do

http://www.bournemouthecho.co.uk/business/news/14615237.Siemens_WILL_invest_in_UK_despite_Brexit_warnings/

The bournemouth echo??? now who's having a laugh

I'm quoting a single source YOU.

You said "Seimens and other stalwarts of EU business have said they will increase investment in the UK specifically because UK is leaving the EU"

Now prove that is what they said.

So jpinx......are you going to answer this, or has guesthouse "owned" you as a fibber?

[nong38]

In the meantime is the GBP still falling against the Baht?

I always look at the £ v $ as no matter what people say the Bhat does seem follows the $ like a shadow, since yesterday the £ has gained a couple of cents against the $. Yesterday on the Krungsri site £ stood at 45.40 today it is 46.23.

Meanwhile in other Brexit news, the Brtexit Secretary, David Davis has said that the article 50should be triggered by January and the UK is ex[ected to be out of the clutches of the EU by the end of 2018.

He also stated that the UK will not allow free movement of EU nationals into the UK, it is getting interesting!!

Donald Tusk is reported in the UK media as wanting to make the exit a painful one to disuade other potential defectors, rather spiteful nwords from one who apparently puts revenge before trade and the bebefit of the EU as a whole. We will see what develops as ever, he really does not seem to grasp that we are the 5th largest economy in the world and to be ignored at the EU's peril.

[dick dasterdly]

GBP/THB interbank rate 46.69

estimated TT rate Thai banks tomorrow 46.63

Let's stick to XE.com for the sake of a political argument -- it's a median rate and reflects the movements and trends quite well. A discussion about bank rates will be never-ending because of the number of different rates you can get. Every tried buying US$ in Cambodia with Thai baht?

.... Pound / euro

25 Jun 2016 21:00 UTC - 14 Jul 2016 15:05 UTC

GBP/EUR close:1.20085 low:1.16251 high:1.23006

No let's not stick with XE, the man in the street can't actually trade GBP/THB with XE hence the rate is not real. Any discussion about GBP/THB needs to be based on the average rate across all banks in Thailand, here: https://daytodaydata.net/

As of this moment that rate is 46.01.

I agree, as I only look at SCB sterling/bht TT exchange rates, as that is what I will get when I transfer money.

Sterling had been hovering around or under 50 to sterling for a while/rose shortly before the results came out/ and then fell to around 46.5.

It then fell again once it became obvious that all the UK political parties were in turmoil, to 44 point something.

Once May was appointed as PM, it rose again and is now 46.4. Far lower than the earlier 49 - 50, but more stable now that we have a new PM.

[MissAndry]

It's XE for me because it's easily available.

You want to use something else, up to you. I'm sticking to XE.

[GuestHouse]

In the meantime is the GBP still falling against the Baht?

I always look at the £ v $ as no matter what people say the Bhat does seem follows the $ like a shadow, since yesterday the £ has gained a couple of cents against the $. Yesterday on the Krungsri site £ stood at 45.40 today it is 46.23.

Meanwhile in other Brexit news, the Brtexit Secretary, David Davis has said that the article 50should be triggered by January and the UK is ex[ected to be out of the clutches of the EU by the end of 2018.

He also stated that the UK will not allow free movement of EU nationals into the UK, it is getting interesting!!

Donald Tusk is reported in the UK media as wanting to make the exit a painful one to disuade other potential defectors, rather spiteful nwords from one who apparently puts revenge before trade and the bebefit of the EU as a whole. We will see what develops as ever, he really does not seem to grasp that we are the 5th largest economy in the world and to be ignored at the EU's peril.

Has Brexit Secretary David Davis given any idea how he's going to broker a deal with 27 EU nations, each of whom hold a veto on any deal he tries to get signed?

[dick dasterdly]

In the meantime is the GBP still falling against the Baht?

I always look at the £ v $ as no matter what people say the Bhat does seem follows the $ like a shadow, since yesterday the £ has gained a couple of cents against the $. Yesterday on the Krungsri site £ stood at 45.40 today it is 46.23.

Meanwhile in other Brexit news, the Brtexit Secretary, David Davis has said that the article 50should be triggered by January and the UK is ex[ected to be out of the clutches of the EU by the end of 2018.

He also stated that the UK will not allow free movement of EU nationals into the UK, it is getting interesting!!

Donald Tusk is reported in the UK media as wanting to make the exit a painful one to disuade other potential defectors, rather spiteful nwords from one who apparently puts revenge before trade and the bebefit of the EU as a whole. We will see what develops as ever, he really does not seem to grasp that we are the 5th largest economy in the world and to be ignored at the EU's peril.

Has Brexit Secretary David Davis given any idea how he's going to broker a deal with 27 EU nations, each of whom hold a veto on any deal he tries to get signed?

Read his statement. It lays out how he intends dealing with things following the brexit vote.

[GuestHouse]

In the meantime is the GBP still falling against the Baht?

I always look at the £ v $ as no matter what people say the Bhat does seem follows the $ like a shadow, since yesterday the £ has gained a couple of cents against the $. Yesterday on the Krungsri site £ stood at 45.40 today it is 46.23.

Meanwhile in other Brexit news, the Brtexit Secretary, David Davis has said that the article 50should be triggered by January and the UK is ex[ected to be out of the clutches of the EU by the end of 2018.

He also stated that the UK will not allow free movement of EU nationals into the UK, it is getting interesting!!

Donald Tusk is reported in the UK media as wanting to make the exit a painful one to disuade other potential defectors, rather spiteful nwords from one who apparently puts revenge before trade and the bebefit of the EU as a whole. We will see what develops as ever, he really does not seem to grasp that we are the 5th largest economy in the world and to be ignored at the EU's peril.

Has Brexit Secretary David Davis given any idea how he's going to broker a deal with 27 EU nations, each of whom hold a veto on any deal he tries to get signed?

Read his statement. It lays out how he intends dealing with things following the brexit vote.

His statement says what his intention is, it gives no clue as to how he is going to get there.

It's the 'No Clue' bit he needs to get over.

[Naam]

It's XE for me because it's easily available.

You want to use something else, up to you. I'm sticking to XE.

that applies to you because you bank with xe.com. others who bank with Thai banks have to use Thai banks exchange rates.

[Naam]

In the meantime is the GBP still falling against the Baht?

I always look at the £ v $ as no matter what people say the Bhat does seem follows the $ like a shadow, since yesterday the £ has gained a couple of cents against the $. Yesterday on the Krungsri site £ stood at 45.40 today it is 46.23.

Meanwhile in other Brexit news, the Brtexit Secretary, David Davis has said that the article 50should be triggered by January and the UK is ex[ected to be out of the clutches of the EU by the end of 2018.

He also stated that the UK will not allow free movement of EU nationals into the UK, it is getting interesting!!

Donald Tusk is reported in the UK media as wanting to make the exit a painful one to disuade other potential defectors, rather spiteful nwords from one who apparently puts revenge before trade and the bebefit of the EU as a whole. We will see what develops as ever, he really does not seem to grasp that we are the 5th largest economy in the world and to be ignored at the EU's peril.

what don't you read what Davis really said instead of presenting your incorrect and incoherent spin?

http://www.conservativehome.com/platform/2016/07/david-davis-trade-deals-tax-cuts-and-taking-time-before-triggering-article-50-a-brexit-economic-strategy-for-britain.html

[billd766]

In the meantime is the GBP still falling against the Baht?

It seems to have ended/paused it's long drop and has risen slightly, more when the Thai banks open, close of business last was 46.01. GBP/USD is improving so perhaps a better rate on the Baht today.

At 09.15 this morning the KBank forex rate was 46.20313.

At 09.17 this morning the XE forex rate was 46.96930, a 50 satang difference per £1 GBP.

It seemed to have bottomed out last Monday 11th July at 44.76063 and it seems to be creeping up a little bit most days.

For some odd reason it is usually lower on Monday mornings. I have no explanation but I am not a financial whiz kid.

My understanding is that brokers/dealers square their positions before close of play Friday meaning they hedge their open currency positions to where buy/sell equals zero. Control of forex markets then passes to Thompson/Reuters from Friday evening until Monday start of business hence transaction values are small and based on actuals. On Monday morning the volume picks up once again with dealers entering the market once again and taking less safe positions than they did on the weekend.

Thank you for your explanation. It makes some sense to me.

[billd766]

It's XE for me because it's easily available.

You want to use something else, up to you. I'm sticking to XE.

When you do a forex transfer, do you get the XE rate or something different?

[GuestHouse]

It's XE for me because it's easily available.

You want to use something else, up to you. I'm sticking to XE.

When you do a forex transfer, do you get the XE rate or something different?

More to the point, if you tranfer funds from the UK to pay a bill, or demonstrate that you meet the tequirements of an extention to your retirement visa, what does your creditor/immigration officer want to see.

A screenshot from an fx website or Bhat in your hand/account?

[dick dasterdly]

I always look at the £ v $ as no matter what people say the Bhat does seem follows the $ like a shadow, since yesterday the £ has gained a couple of cents against the $. Yesterday on the Krungsri site £ stood at 45.40 today it is 46.23.

Meanwhile in other Brexit news, the Brtexit Secretary, David Davis has said that the article 50should be triggered by January and the UK is ex[ected to be out of the clutches of the EU by the end of 2018.

He also stated that the UK will not allow free movement of EU nationals into the UK, it is getting interesting!!

Donald Tusk is reported in the UK media as wanting to make the exit a painful one to disuade other potential defectors, rather spiteful nwords from one who apparently puts revenge before trade and the bebefit of the EU as a whole. We will see what develops as ever, he really does not seem to grasp that we are the 5th largest economy in the world and to be ignored at the EU's peril.

Has Brexit Secretary David Davis given any idea how he's going to broker a deal with 27 EU nations, each of whom hold a veto on any deal he tries to get signed?

Read his statement. It lays out how he intends dealing with things following the brexit vote.

His statement says what his intention is, it gives no clue as to how he is going to get there.

It's the 'No Clue' bit he needs to get over.

His statement made sense to me - but we all have our own opinions, only some of us prefer to state our opinions as 'fact'.