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GBP EUR – Sterling Strength from Retail Sales

Sterling has had a welcome boost this morning following a much higher than expected level of Retail Sales. The data came in at 6.9% when the anticipated figure was 4.5% – a big shift! This could perhaps be in line with the crazy end to November including ‘Black Friday’ and ‘Cyber Monday’. This has provided Euro Buyers an opportunity to buy with the market back above the 1.27 level.

Looking further forwards, tomorrow morning there is a whole host of Eurozone economies releasing their CPI Inflation data (Consumer Price Index). The level of inflation for an economy can be a big driver as to an investors appetite to have money in the economy – hence why it can move the market so much. I don’t think that the inflation data tomorrow will be Euro favourable, so I’d be inclined to SELL EUROs prior.

Please feel free to contact me directly should you have an exchange requirement. The direct line to the trading floor is 01494 787 478 or email me AJB@currencies.co.uk

Sterling value wobble as Russian markets have an impact globally.

 

GBPEUR levels are stable and if anything expect to continue to be as economic data dries out and risks from Russia slow the market.  Many traders are a little wary now about what the impact will be and have as a result not been trading as volatile. Volumes are down generally meaning things seem quite but it also gives opportunity as large swings can come quickly. Russian news has impacted Germany as they export so much into Russia. The UK’s close trading ties with Europe has meant we have caught a cold and rates have slowed down.

For a full breakdown on market movement and how things can change over the festive period contact myself for a full break down. You can contact myself Steve Eakins via email at hse@currencies.co.uk

Sterling on the rise against the Euro (Tom Holian)

Sterling Euro exchange rates have increased today following some good news about both wage growth and unemployment data.

In the last three months average earnings have picked up 1.6% compared to the same period a year ago and it is the first time is six years that earnings growth has exceeded the rate of UK inflation.

This is good news for the UK as it demonstrates that the economy is on the right track. Also this morning the number of people out of work fell by 63,000 to 1.96 million which has given Sterling a boost today.

With unemployment at 6% this is the lowest level in 6 years.

The Bank of England minutes out this morning confirmed a split of 7-2 votes in favour of keeping interest rates on hold and with Eurozone inflation only measuring 0.3% today this has allowed Sterling to gain against the single currency.

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

 

 

 

What can we expect for the Euro before the end of 2014?

The Euro is likely to be the biggest loser in the New Year as investors fears over QE (Quantitative Easing) take hold. What exactly can we expect from the Euro in the New Year? Wel;l if they look at rolling out full blown QE then the Euro is highly likely to weaken significantly. When the Bank of England launched QE the pound lost about ten cents against the Euro. When the Federal Reserve Bank in the US launched QE it caused the dollar to weaken a similar amount against the pound and Euro. Why is this?

QE is where a central bank buys up government bonds and other investments from banks and brokers to boost their liquidity. It serves to increase the amount of money in the financial system and ensures that the financial wheels in an economy are turning. This move by a central bank serves to kickstart an economy and by increasing the money supply devalues the currency. Which also has a knock on effect of increasing demand for exports (goods from that country are cheaper), further helping boost the economy.

So if the ECB (European Central Bank) are deciding on how much of  a QE programme to launch in the New Year, it is reasonable to expect the Euro will weaken. Suffering from low growth and high Unemployment the Eurozone really is struggling and this seems more than likely to manifest in the New Year.

Making some careful plans and being aware of what will drive your exchange rate is always sensible on exchange rates. For more information please contact me Jonathan on jmw@currencies.co.uk

Where Next for EUR Exchange Rates? (Matthew Vassallo)

The EUR has strengthened against GBP during Tuesday morning trading. This spike has pushed the pair back towards 1.25 on the exchange and has helped to curb yesterday’s losses, which saw GBP/EUR trade at a high of 1.2655. It’s been a volatile few days for the currency pair with spikes in both directions and although the EUR has found support in the higher 1.20’s, I do anticipate a major run for the single currency under current market conditions.

Tomorrow is likely to be a key day, with the latest Bank of England (BoE) minutes due out at 0.930, along with latest UK unemployment rate. We also have the latest Eurozone inflation data out, so expect a busy day for the EUR.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on mtv@curerencies.co.uk

GBPEUR rates falling this week, but expect a climb next week

The value of the euro has been strengthening this week against sterling and I generally expect this to continue over the next 36 hours. I personally think that sellers will get their best opportunities tomorrow if they plan on selling this year.  Next week there is a number of UK data releases expected on Tuesday and Wednesday and both are expected to show improvements changing the trend back on GBPEUR in the favour of Sterling.  So if you are needing to buy euros this month I would suggest next week.

For a full break down of the data releases, their expectations, the live levels or what current rates are please contact me directly on hse@currencies.co.uk. My name is Steve Eakins and I wait to hear from you.

 

Sterling Euro Forecast (Tom Holian)

Sterling vs Euro exchange rates have had a very mixed few days with over 1% movement from high to low this week or the difference of £2,000 on a currency transfer of £200,000.

UK manufacturing data came out lower than expected and actually fell in October. Industrial production data was also a lot lower which caused the Pound to weaken against the Euro.

If manufacturing and industrial production slows down in the UK this will inevitably put pressure on the Bank of England to keep interest rates on hold.

German inflation data is due out early tomorrow morning and this is likely ot heavily influence GBPEUR exchange rates. Any rise could see strength for the single currency as it could support the previous monetary policy changes by the ECB in both September and October.

Also due out in the ECB’s monthly report which could provide us with further details as to what the ECB may do to combat low inflation.

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

 

 

 

GBP EUR Forecast – When to BUY EUROS?

Sterling Euro had a large shift today, with trading to close this evening in the 1.2650 region (having opened over 1.2715). The GBP-EUR day low was 1.2609 so with a Cent between high and low, timing has been of the essence today to maximise your return.

Poor manufacturing data this morning provided Euro sellers a window of opportunity; primarily Manufacturing figures coming in at 1.7% against a predicted figure of 3.2%. Sterling then saw a resurrection of sorts as the NIESR (National Institute for Social and Economic Research) came in as forecasted at 0.7%.

Looking forwards tomorrow has the UK Trade Balance figures (expected to show a slight reduction) with Thursday having a host of Eurozone CPI (inflation) figures). If I were buying Euros I’d be looking to get an exchnge booked after Thursdays CPI figures, as there is a chance that the poor EU economies will be mirrored by unfavourable CPI levels.

If you are looking to get an exchange booked, please feel free to drop me a line direct to the trading floor – the correct timing of an exchange can be worth thousands of pounds! 01494 787 478 or alternatively email me directly AJB@currencies.co.uk

Thursday’s ECB Monthly Report Key for EUR Exchange Rates (Matthew Vassallo)

The EUR has made gains against GBP during Tuesday morning’s trading, recovering some of the position it lost yesterday. GBP/EUR rates are now back below 1.27 and this could be attributed to this morning’s poor UK Construction & Production data which came out worse than expected.

The EUR has had a tough ride against Sterling for much of the year, although the single currency has found support in the 1.27-1.28 range, with the Pound finding it exceedingly difficult to breach this level.

All eyes will now switch to the latest European Central Bank (ECB) monthly report, which is released on Thursday. This is usually a key market mover and will give us a detailed insight into the relative health of the Eurozone economy. There is also Eurozone employment data released on Friday, which is worth monitoring if you do have an upcoming EUR currency requirement.

If you do have an upcoming EUR currency transfer to make and you would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on mtv@currencies.co.uk

Save money when buying Euros (Tom Holian)

When buying Euros it is often difficult to find the best exchange rates. However, what is important is that you use an experienced currency broker rather use your high street bank.

A currency broker has access to better exchanges rates and the margin is often much smaller than that offered by a bank to buy or sell the currency that you need transferred.

The problem for the Eurozone at the moment is that inflation is still very low and the ECB will have to intervene with monetary policy in the first quarter of 2015.

The ECB did not change policy this month but ECB president Mario Draghi did suggest that the central bank are putting steps in place to act as and when required.

With Sterling now close to hitting  2 year high against the single currency it may be worth getting your currency bought this side of Christmas.

So, if you’re thinking about making a currency transfer and want to save money on exchange rates then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

 

GBPEUR Spikes

The Euro rollercoaster continues! The Rates are back above 1.27 representing a great time to buy the Euro which may not last. Looking into the New Year exchange rate could drop if the pound comes under pressure owing to the uncertainty of the UK’s General Election. On balance the pound looks like it really  could struggle in the New Year, anyone considering buying Euros really should beware of this important event.

For more information on the Euro and how to maximise any currency exchanges that you need to consider please contact me Jonathan on jmw@currencies.co.uk

Sterling Euro falls owing to ECB announcement (Tom Holian)

GBPEUR exchange rates have fallen by as much as 1% or the difference of £1,000 for a currency transfer of £100,000. In order to achieve the best exchange rates it is important to make contact with a currency broker who can watch the currency markets for you.

Today for example the comments from ECB president Mario Draghi have strengthened the Euro against Sterling as the ECB has stepped up plans for more stimulus measures coming soon.

No change was announced today but the rhetoric used has suggested the ECB will act very soon. Indeed, the central bank has yet to buy any government bonds but they are ready to act as and when required.

Low inflation and slow economic growth has been the cause for Euro weakness over the last few months and if the ECB do announce a plan with definitive dates and policies I think we could see the single currency strengthen against the Pound.

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