Pound Euro Forecast (Tom Holian)
UK Retail Sales are due out later this morning at 930am with strong figures expected. The expectation for year on year is 0.2% so much more of a difference could lead to Sterling volatility this morning. Later this afternoon European Consumer Confidence figures are released and my feeling is that the data will come out low as Europe has been struggling of late leading to a loss of confidence. We could see a weakening for the Euro shortly after this data set.
Last night Mervyn King made his last speech as Governor of the Bank of England and spoke about the UK potentially needing more stimulus as a recovery is still not fully assured. Sterling fell marginally against the Euro but as he is leaving shortly the markets didn’t over react too much to the news.
If you have a currency requirement to make shortly and would like a free quote feel free to email me directly Tom Holian teh@currencies.co.uk As one of the UK’s leading currency brokers I’m confident we can save you money compared to using your bank to buy Euros or sell Euros.
Euro rate Forecast – Will the Euro remain this quiet for long?
The Euro is enjoying a period of relative calm at present which is surely not going to last. Attention is currently focussing on the United States and whether or not we will witness further QE in the future. Whilst domestic demand in the US is improving it may be the decreasing demand from Europe and China which ultimately will lead to the injection of more QE.
The outlook in Europe is very much negative and the main reason the rates have not majorly trailed off is the belief and confidence Mario Draghi and the ECB will do ‘whatever it takes’ to ensure stability. The bad news is firmly out in the market and this is preventing further losses. I think however you would struggle to find many who expect the euro would not weaken again at some point in the future.
If you are selling a property overseas or are a business who will be receiving payments in euros in the coming months, it may make sense to book your currency rates in advance. Current Euro to GBP and Euro to USD exchange rates are very attractive based on historical levels.
If you have a currency transaction to consider involving the Euro or indeed any other currency why not make a free enquiry with us? As a firm of specialist currency brokers we seek to achieve the very best rates in the market and ensure you don’t miss out if markets move against you.
For a free, no obligation discussion of everything involved which may affect your rates, even if your trade is just a one off or well in the future, please contact me Jonny on jmw@currencies.co.uk
I look forward to hearing from you and assisting you soon,
Jonny
Euro staying stable against Pound and Dollar – Australian Dollar, New Zealand Dollar and South African Rand continue to weaken (Daniel Wright)
The Euro has remained stable against Sterling over the past few days however we have recently seen key Eurozone leaders becoming much more bullish about the recovery of the Eurozone with many now starting to say the crisis is over.
Personally, I would be extremely surprised not to see any further fireworks for the more troubled economies within Europe however this positive stance may well lead to a little Euro strength in the coming weeks.
We have the ECB monthly report out on Thursday which will tell us a little more about how things are going but personally I do not see any major movements this week against the pound or the Dollar unless U.K or U.S data comes out completely different than expected.
If you have a currency transaction to carry out involving either buying or selling the Euro then I can help you get the very best exchange on the market – The company I work for has won awards for exchange rates and customer service so it is certainly well worth getting in contact with me if you have a pending currency requirement. You can email me on djw@currencies.co.uk I look forward to hearing from you.
Sterling Euro Exchange Rates Today (Tom Holian)
Sterling Euro has remained in a tight trading range today as data is limited. Tomorrow is the day where we’re expecting a little more volatility on the currency markets as the UK releases production data for both Industrial & Manufacturing sectors. Later in the afternoon the NIESR publishes its GDP estimate which is likely to influence the markets. With the recent release of positive data for the UK I would not be surprised to see this continue tomorrow and therefore push Sterling Euro requirements in an upwards direction.
The ECB has recently cut its own Eurozone growth forecast as it confirmed it would keep interest rates on hold at record levels on Thursday. The ECB has now predicted that the Eurozone will contract by 0.6% this year but it did insist that recovery albeit slow will occur in 2014. This has seen Sterling improve marginally against the single currency with the GBPEUR hitting levels of resistance at 1.1780.
If you need to make a currency transfer and want to ensure you are getting competitive exchange rates feel free to contact Tom Holian teh@currencies.co.uk
If you are buying property abroad but don’t need to make a currency transfer for a few months you may to consider buying a forward contract so for a more detailed explanation as to how to secure your currency in advance get in touch teh@currencies.co.uk
Bank of England & European Central Bank Keep Interest Rates on Hold (Matthew Vassallo)
Thursday has seen some major moves in the currency market, following a busy day of economic data releases. The EUR seems to be holding on for dear life against the Pound at the moment, although we have seen GBP find a lot of resistance around 1.18. In contrast however the single currency has surged against the USD, moving over 2 cents from the low of the day and providing USD buyers with some of the best levels on the currency pair this year.
Today’s key data for anyone with a EUR requirement, was the European Central Bank (ECB) interest rate decision and Mario Draghi’s subsequent press conference. As expected interest rates were kept on hold and there was no mention of further monetary policy. Whilst the Pound may be enjoying its run against the EUR at present, I do believe the arrival of incoming BoE governor Mark Carney could change the landscape dramatically. There is a lot of talk that he will be instigating aggressive rounds of Quantitative Easing (QE), with the hope that it will devalue the Pound enough to get the Eurozone trading with us again and in turn this should shorten our trade deficit and improve the overall health of the UK economy. For this reason I would suggest anyone looking to buy EUR should consider their positions imminently and those looking to sell should be keeping their eyes firmly fixed on developments over the coming weeks.
Here at www.eurorateforecast.com we are able to provide our clients not only with award winning rates of exchange but a bespoke service designed to give you the client, as much insight into the markets as possible. If you would like to find out the type of rates or contracts we offer, or need to be kept up to date with all the latest market movements, then please call us on 0044 1494 787 478 or email me directly at mtv@currencies.co.uk.
How do I know I am getting the best deals on pounds for euros? Speak to us!
Foreign exchange is one of the most overlooked areas of foreign property. All too often both buyers and sellers alike will go to great lengths to negotiate the price and fixtures or fittings of a property then neglect to consider the impact of foreign exchange fluctuations.
I think this week will bring some good news for Euro buyers, bad news for Euro sellers. I expect that the pound will find some strength and the Euro will weaken as attention turns back to the problems in the Eurozone.
For too long now rates have been strong and whilst I have written a great deal about why this is the case (to read more click here), I do think rates will get a little better in the short term for Euro buyers.
Here at eurorateforecast.com we are specialist currency brokers writing about the market offering you an opportunity to maximise your currency exchange. We help save you money using two methods:
1 – We can beat the rates of exchange offered by banks and other brokers. You may be happy with the current deal you receive but a quick phone call or email to us would probably save you money! If you are sceptical and would like more information all you need to do is email jmw@currencies.co.uk or call 01494 787 478 and ask to speak to me Jonny.
2 – We offer assistance with the actual timing of your exchange. Our personal proactive service means we take the time to learn the client’s requirements and work hard to ensure they don’t miss out on the best rates and latest news.
GBPEUR has already improved for Euro buyers this week and I would not be surprised to see it improve by up to another cent or two this week.
If you have a transaction to consider and would like more information on all your options and how to get the best rates of exchange please contact me Jonny directly on jmw@currencies.co.uk or call 01494 787 478.
I look forward to hearing from you and assisting with the your currency transfers
Will GBP/EUR Reach 1.20? (Matthew Vassallo)
The recent GBP/EUR rate fluctuations mean trying to predict which direction the currency pair will take next is becoming increasingly difficult. For months we have seen both the Pound and the EUR make inroads against each other, only for any developing trends to be extinguished at the first sight of trouble. Add to this various predictions ranging from 1.05 -1.30 and we are left scratching our heads wondering who to believe and when to change our currency.
The first question most clients will ask me if they have a GBP/EUR requirement is whether rates will reach 1.20 again over the coming months. Personally I believe we will see pressure put back on that level but may find it a difficult resistance barrier to break in the short-term. We have already seen key figure-heads such as Mervyn King talking our economy down, in order to ensure the Pound does not gain too much value, which will in turn have a negative impact on our export industry.
We also need to consider that despite the recent interest cut by the European Central Bank (ECB), their president Mario Draghi has been talking up the future of the EUR and has seemed more bullish than usual in his recent press conferences. Whilst we can say with some certainty that the economic problems in the Eurozone are far from over, other factors which are likely to keep the Pounds value down.
The EUR has performed well against the AUD of late, with its recent rally being furled by the recent interest rate cut by the Reserve Bank of Australia (RBA).
Here at www.eurorateforecast.com we are able to provide our clients not only with award winning rates of exchange but a bespoke service designed to give you the client, as much insight into the markets as possible. If you would like to find out the type of rates or contracts we offer, or need to be kept up to date with all the latest market movements, then please call us on 0044 1494 787 478 or email me directly at mtv@currencies.co.uk.
Rates improve for Euro sellers, GBP weakness
A run of poor data for the UK has created some excellent conditions to sell Euros for GBP. The rate is currently at a 4 1/2 week high for selling euros versus pound sterling. It is possible rates may even get better of the UK data continues to disappoint.
Tomorrow we have UK GDP (Gross Domestic Product) which is the first revision of last months data. The expectation is for no change but it is possible that we could see the pound suffer further if it is bad news. The recent GBP Strength has been underpinned by the better GBP news, if this turns out to be incorrect, it is likely the pound will suffer.
Friday we have German business confidence and GDP data which may well be a market mover on the euro. If you have been holding back waiting to see better levels to sell euros for GBP, this may be the opportunity you have been waiting for. The longer term expectation on the exchange pairing remains Euro weakness, GBP strength. This is why many businesses and those selling property in Europe have been forward buying to take advantage of the improvements.
If you are looking to get the best deal on your currency exchange or just learn more about what will affect your rate in the future, please contact me Jonny directly. I work as a specialist foreign exchange broker and can help you move money internationally at a much better rate than via your bank or other sources. To learn more or for a free, no obligation comparison please contact me directly for more information.
I look forward to hearing from you and assisting with the best deal
Euro rates rally against the Pound. Bank of England minutes tomorrow may cause further GBP/EUR volatility
Following a dip in the UK’s inflation rate the pound has fallen against a host of currencies including the Euro dropping rates into the mid 1.17s. With the Bank of England minutes released at 09:30 tomorrow morning tomorrow could also prove a busy day for GBP/EUR. For me I am not expecting to much from the minutes and indeed you may find very little impact on the market. In fact I feel the Bank of England may adopt a relatively neutral stance over the next 6 weeks as Sir Mervyn King hands over the reigns to Mark Carney in July. It is at this point that you may find more radical policies to be implemented by the central bank. Many expect Mr Carney to impose of self from the word go and give a nod to further Quantitative Easing, or even a surprise interest rate hike – of course he does not have the final say and will need to see a majority vote from the 9 members of the MPC (Monetary Policy Committee) but he may begin to influence his peers.
Also at 09:30 tomorrow watch out for Retail Sales figures from the UK (expected to show a strong improvement that could lead to GBP strength as a result). Should you have an interest in Euro exchange rates then also watch out for a speech from Mario Draghi Thursday morning, positive sentiment from Mr Draghi the Euro may continue its strong start to the trading week.
As you can see we have plenty of data released for the rest of the week. To be kept up to date with the impact these data sets may have for your individual requirement then please contact me and I will happily run though my forecasts and run through the various contracts we can offer to help maximise your currency exchange. I am very confident I can help achieve a better rate than your current provider. Please call the office on 01494 787478 or email me (Mike) with a brief overview of your requirement and I will gladly contact you to help with your money exchange. I can be reached at mgv@currencies.co.uk
