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UK Retail Sales give Sterling a Boost (Tom Holian)

Sterling vs Euro exchange rates have fallen recently following the negative comments made by Bank of England governor Mark Carney last week during the Quarterly Inflation Report.

Rates have fallen by as much as 3 cents on GBPEUR but this morning’s data helped to push Sterling above 1.25 again.

UK Retail Sales were expected to come out at 3.8% but the release showed 4.3% year on year which gave Sterling a boost this morning.

Tomorrow morning ECB President Mario Draghi is due to speak and any talk of further monetary easing could see Euro weakness and provide some good buying opportunities if you need to buy Euros.

UK Public Sector Net Borrowing is also out at 930am which could provide volatility on GBPEUR exchange rates.

If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

GBPEUR racing down in value – When do I buy euros?

GBPEUR rates have continued their fall with a further 2 cents dropped over the last few days. His puts the total loss of nearly 4 cents over the last week!

Sterling forecasts seems to be missing expectation and we have seen interest rate hike in the UK pushed back by a further 6 months, not great for anyone looking at buying Sterling. European news has also showed a slight pickup, yesterday the German confidence figures also showed a surprising improvement. Later today we have the next economic event from the UK which is the Bank of England minutes. This is expected to show interestingly the change in the vote between the nine members of the monetary policy committee that vote in any change in central policy. In the last few meetings the split has been 2-7 but I would expect this to change reflecting the stance by the bank at the recent Quarterly Inflation Report. A fall to 0-9 could give Sterling more of a headache as additional funds come out of the Pound resulting in a further fall for GBPEUR.

I have the view that levels will probably fall back to 1.24 before it revisits 1.27.

If you are in a position looking at the market and would like more information feel free to contact myself, Steve Eakins via email at hse@currencies.co.uk

Will the Euro recover in the future?

It seems unlikely that the Euro will recover in the future since their economy is in a process of stalling and further easing measures look very likely. I doubt that the current measures by the ECB (European Central Bank) will be enough to stem the tide of a high unemployment, low growth. For me if I was holding euros and looking to sell for the pound or US dollar we would expect that both the UK economy and the US economy will outperform the Eurozone and hence those currencies will rise further against the euro.

The market does not unfortunately move in a straight line and anyone holding euros would in my opinion be best off selling on the dips. We can help point on thiese dips and monitor the spikes for you. Please contact me Jonny for more information at no cost or obligation on jmw@currencies.co.uk

Sterling Euro Instability (Tom Holian)

Sterling Euro exchange rates have had an interesting start to the week as the market is not sure which way to turn.

Yesterday ECB President Mario Draghi announced that growth in the Eurozone had stalled and insisted that they are willing to do more to stimulate the economy. This saw a small amount of Euro weakness during yesterday afternoon’s trading session.

This morning UK inflation figures came out marginally higher than expected and typically this should have given Sterling a lift but the ZEW survey published in both Germany and the Eurozone was hugely positive.

The ZEW survey measures confidence and this has provided the Euro with further strength and I think we’ll see little movement on GBPEUR exchange rates this afternoon.

However, tomorrow morning the Bank of England minutes are released. With the last few months showing 7-2 keeping rates on hold any change to 8-1 could see huge Sterling weakness in the morning.

If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

Send International Payments (Tom Holian)

So if you’re reading this article I’m guessing that you’ve got to send funds overseas fairly soon and you’re not entirely sure how to do it and which method you should use.

You could use a bank to carry out the transfer but this can often be time-consuming and also expensive. If you’ve tried it before you’ll know what I mean.

The better alternative is to use an established currency broker who can guide you through the pitfalls of sending money abroad and give you a much better exchange rate than using your bank. The saving can be as much as 4%!

A currency broker will also help with the timings and really listen to your needs. They will ask you about deadlines and explain in simple terms how to really use them to your benefit to save money and make sure the process is safe and secure.

If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk 

 

 

Euro recovery on better news

The Euro could feasibly mount a recovery on much better news surrounding the Eurozone economy. Next week there is a range of data to move the market including the Bank of England Minutes as well as UK Retail Sales. If I was selling euros to buy the pound these are the events that I would look for.

To make the most of your currency exchanges why not employ the service of a specialist currency broker? We offer exchange rates that will undercut the banks and offer assistance with the timing of your exchange as well. For more information at no obligation please email me Jonny on jmw@currencies.co.uk

Important Information regarding the Euro this week

Tomorrow is a whole host of Eurozone news focusing primarily on Inflation data which could well be a market mover. If you need to buy or sell Euros an understanding of this important aspect of the Eurozone economy could save you money. We expect the Euro to remain on the backfoot although with so much negativity still surrounding the Euro, the chance of an upside surprise if the data impresses.

If you need to buy or sell the Euro an understanding of what is moving rates is the key to making the most of the transfer. Exchange rates move daily sometimes up to 2 cents or more so getting the timing of your exchange right is key to making the most of your money. For more information on what may move your rate please contact me Jonny at jmw@currencies.co.uk

Best Exchange Rate GBP EUR – Sterling Euro Forecast (Andrew Bromley)

Today is the key day this week for Sterling as the UK releases its unemployment figures at 09:30. The data incorporates within it the level of monthly wage increase, the level of unemployed people in the UK and also the figure of people applying for benefits. The unemployment level is expected to reduce slightly from 6% down to 5.9%. We may see a slight window of opportunity for Euro buyers as a reduction of unemployed people is a positive sign for the UK economy.

One hour later is the Bank of England quarterly inflation report, read by Bank of England Governor Mark Carney. As those trading currency would have noted in September - when there is political instability, the markets can be incredibly volatile. With that in mind I think that as the inflation report is not expected to uncover any hidden gems indicating a major UK economic improvement, the Bank of England will be looking to push the next interest rate increase back beyond next years election.

Should you have an exchange to do and want to take advantage of spikes in your favour, please feel free to drop me a line on 01494 787 478. I am also contactable on ajb@currencies.co.uk

 

I look forward to being of assistance.

 

Andrew Bromley

GBPEUR could drop Wednesday, get in touch today!

We expect the GBPEUR rates to fall slightly on Wednesday if the Bank of England Quarterly Inflation Report and Unemployment data indicate the UK economy is not faring as well as some had hoped. Notably rates on GBPEUR are slightly down from the absolute highs we saw some time ago, what is the forecast longer term for the Euro against the pound?

I personally would favour the pound longer term and view any dips in GBP strength as worth talking advantage of since the UK appears to be in a better position than the Eurozone economically which should mean GBPEUR rises again down the line.

For more information on what will move the market please contact me directly on jmw@currencies.co.uk

Euro rates gain back

Some USD weakness has helped Euro sellers as funds from the USD are moved to Euro on the back of some not as good as expected US employment data. The picture for the US economy remains buoyant which should be supportive of the USD and means the dollar will be strong and the euro weak. This means that I still think anyone selling euros to buy either the pound or the USD should move on such dips as the longer term picture would have to favour sterling or the greenback since the UK and the US are both on course to raise interest rates.

If you need to buy any currency in the future understanding what will move your exchange rate is key to getting the best deals. For more information at no obligation or cost why not speak with us direct to discuss all available options. Please contact me Jonathan  on jmw@currencies.co.uk

GBPEUR Rates on the Rise (Tom Holian)

ECB President Mario Draghi has spoken this afternoon and this has caused a huge amount of weakness for the single currency.

Sterling Euro exchange rates are now trading above 1.28 as his mention of rising unemployment in the Eurozone has caused a bit of panic amongst investors not sure what to do next.

I think we could see even further gains for Sterling vs the Euro over the next few days as the negativity continues.

Draghi has even suggested that further monetary stimulus may be needed which is again likely to weaken the Euro in the longer term.

If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

GBPEUR wobble

GBPEUR levels have started to dip today which is expected to fall further tomorrow. Sterling had been on the way up and has been a cent higher this week already, these gains are due to demand for the Pound as investors ‘re-set’ their levels of investment for the new month. What we saw break yesterday was the Europeans cut growth expectations by almost half for this year and next. They also went on to highlight the concerns in both France and Italy; France with a mere 0.3% growth expectation and Italy to stay IN A RECESSION until at least Q2 of next year. Now I know that some would say, well if the EURO is weak why did it become more expensive to buy? The simply reason, over 60% of UK OUTPUT is shipped to Europe so if they look bad out exports look bad. In turn Sterling’s value falls along with its international demand.

Moving forward we have more economic data today and tomorrow which I think will weaken the GBPEUR further. PMI data is expected this morning and then interest rate decisions from the bank on both sides of the channel tomorrow. As a result timing a trade will make a big impact so make sure you keep an active eye on the currency markets. If you don’t have the time highlight your interest with your dedicated broker here. If you don’t have an account or contact here already, please email me and I can arrange this for you – email me at hse@currencies.co.uk