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GBPEUR rates continue to fall

GBPEUR levels are CRASHING THIS WEEK, THIS MONTH. There have been a number of factors impacting market trends but it is safe to save a negative trend has been well established. UK data this mounting continue to be poor as it reflects September when everyone was wary about the Scottish vote. European news continue to been poor, very poor in fact which is driving investment away from the single currency and the Pound by association.  There is the potential that next month we will see a pick up and a change in trend for the GBPEUR pairing but I think we will have to wait a while to re-capture the losses we could see over the next fortnight. As a result anyone buying euros may want to move sooner rather than later to avoid any further disappointment.  Euro sellers should equally be in a position to move when the tide turns which could only be 10 days time.

For more information on any of the topics above please feel free to get in contact when you get some time. Feel free to contact myself directly for a personal reply at hse@currencies.co.uk

GBPEUR drops! Have you made plans for the worst case scenario?

The pound suffered today as Inflation data showed a fall, meaning no real rise to raise interest rates anytime fast! This bodes well for anyone selling the Euro to buy the pound but I would be concerned if buying the euro with the pound since the exchange rate looks likely to fall if this continues.

Ultimately there are many factors affecting the pound lately including the fears of Ebola and the general deterioration in sentiments on the currency markets. For more information please contact me Jonathan on jmw@currencies.co.uk

Sterling Euro Exchange Rates Falling (Tom Holian)

Sterling Euro exchange rates have been falling during the course of this week and have dropped by almost 2 cents since hitting a 2 year high recently.

One key event of the week was yesterday’s Bank of England interest rate decision which confirmed that UK interest rates will remain on hold. Indeed, with an election in May I think it could be quite some time before the BoE looks at changing interest rates in the near future.

Yesterday the IMF predicted that we could see a 40% chance of a fall for the global economy and today we have seen the FTSE fall to its lowest level in 2014.

Earlier this month the European Central Bank decided to combat inflation by introducing another round of QE. This actually helped to strengthen the Euro as it was seen as a positive move for the continent in an attempt to promote growth by encouraging spending.

One looming fear for the Eurozone is that Germany is at risk of entering recession with exports dropping by as much as 5.1% last month this is not good news for the Eurozone’s leading economy.

Next week sees the release of UK CPI & RPI which are measures of inflation. Also out is the announcement of UK unemployment due on Wednesday. I think the figures will be slightly negative for inflation but positive for unemployment so we could see Pound strength later in the week.

If you need to make a currency transfer 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

 

 

 

 

 

 

 

A Quiet Week for the EUR (Matthew Vassallo)

It’s been a quiet week for the EUR with little economic data of note out to shift the single currency. We have seen the EUR realign itself slightly against GBP, with the pair floating around 1.27 on the exchange. This has come after a difficult couple of weeks for the EUR, which culminated in the Pound hitting a fresh two year high of 1.2855 last week.

I believe we will see the EUR supported around the current levels and in my opinion we are more likely to see a move back towards 1.25, rather than see rates spike up to 1.30. ECB president Mario Draghi’s speech this afternoon could cause additional volatility for EUR exchange rates. Depending on his stance regarding the Eurozone recovery is likely to determine how the markets react to his speech.

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@currencies.co.uk

GBPEUR rates falling from recent highs but is now the time to buy?

The euro has gained some strength against the Pound this week but a majority of these gains is not euro strength but Pound weakness. Date out of the UK has generally been in line with expectations however missed the general improvements many had become accustomed to. Recently the UK has lost its AAA credit rating but the IMF overnight put the UK ahead of most of the world in turns of growth. They did however state that it remains unbalanced which may be reason to worry.  Equally with a large exposure to the single currency it could be said that their low levels of performance could be having an impact on the value of the Pound.  A fact that is being overlooked in my opinion is also the 40% chance of a double dip recession made but eh IMF. This could be as soon as next year which could have a significant impact on the Pound moving forward. Lastly we have also recently seen the forecast for UK interest rate hikes pushed back until the middle of next year, lowering the amount of investment, demand and therefore the value of the Pound.

All rather negative I am afraid or at least information to be wary of when we see rates drop further in the weeks and months ahead.  What I would however also remind readers of is the fact that the GBPEUR level is, if you ignore the last 2 weeks, at the highest levels seen for 2 years! As a result it still represents a good buying level that may be worth taking, the risk of rates falling are perhaps higher than the chance of rates improving further.

If you would like to discuss your options in full with ourselves feel free to email me at hse@currencies.co.uk remembering that you also have the option of locking in levels even if you don’t have the full access to the capital. Plenty of options available for every situation.

Look forward to hearing from you.

Will NIESR GDP Boost The Pound Versus The Euro Today? (Colm Gilhooly)

Today we have UK Industrial and Manufacturing Production figures released at 9.30 which will give an indication of how the UK economy is performing and therefore influence sterling euro exchange rates.  However the big news of the day is likely to be the unofficial GDP figures released by the NIESR (National Institute of Economic and Social Research) which is a very well respected think tank who’s figures often accurately forecast how official UK figures will actually appear.

If the data is strong we could see sterling euro exchange rates go up substantially.  However as always with data forecasts, the outcome and the effect on the markets will always be a bit of a gamble.  In my view the Euro will come under more pressure over time, so if you are selling euro it may be worth moving soon to take advantage of the recent strength following the ECB decision.

If you need to make a currency transfer, and want to get the best exchange rate, then feel free to email Colm at cmg@currencies.co.uk and I would be happy to help.

 

Euro selling Opportunity

If you need to sell Euros you are looking at a very good opportunity currently. The Euro had weakened owing to a number of measures by the ECB (European Central Bank) to bolster growth and try to increase inflation. The ECB  has now had to embark on QE (Quantitative Easing) which has strangely caused the Euro to strengthen…

The Euro has weakened this year and this is presenting a good buying opportunity still. However with the likelihood being the pound and dollar will strengthen against the Euro longer term it would be very much worthwhile anyone selling Euros makes some firm plan to sell now. Historically speaking the rates for selling Euros are at a good level which will not last.

Many clients who are in the position of selling Euros for pounds or dollars are upset at not having moved earlier this year or last year when rates were much better. Unfortunately as time ticks on the pound and dollar are highly likely to continue to appreciate against the Euro, anyone thinking of selling Euros should be weary of the forecast and make plans. The recent move in favour of anyone selling Euros for GBP today is an example of a spike that should be capitalised on if you want to limit losses.

For more information at no cost of obligation please contact me directly on jmw@currencies.co.uk

Will The ECB Take Action Today? Could The Euro Drop Further? (Colm Gilhooly)

We have the latest ECB announcement and press conference today there is a strong possibility the ECB will embark on a much anticipated asset purchase program to try and boost inflation and growth in the Eurozone.  Recent inflation figures published this week were once again disappointing and have done little to dispel the chances of the ECB acting, indeed the Euro has struggled in the last few weeks as markets part price in this expectation.  No move from the ECB could see the Euro strengthen back quickly (likely a temporary reprieve though as pressure will build again), however if they do start purchases we could see the Euro slide further.

UK news in the last couple of days hasn’t been brilliant with the loss of the AAA rating from Moodys and Manufacturing PMI coming in lower than expected, but the main driver of GBP EUR rates will be the ECB decision today.  If you are buying or selling Euro, then today’s news will be key; if you need to make a currency transfer and want to get the best exchange rate then feel free to contact Colm at cmg@currencies.co.uk and I would be happy to explain how our services work.

The Euro should be the focus in October

GBPEUR and EURUSD movements have mainly been determined by the pound and dollar in the month of September. We saw the pound grab headlines owing to the Scottish Referendum and investors have been keeping a close eye too on USD news with the Federal Reserve seeking to raise interest rates in the New Year.

I would not be betting on the Euro doing too well this month although much more will be known tomorrow after the QE decision tomorrow. If you need to buy or sell the Euro keeping a close eye on the rates is sensible, if you are busy and don’t have time , why not call us to learn the latest news on the markets. Register your interest with me on jmw@currencies.co.uk

 

 

Will the Recent EUR Losses Continue? (Matthew Vassallo)

The EUR has come under pressure recently, particularly against GBP and the USD. Heavy losses over the past couple of weeks have pushed GBP/EUR rates up to a fresh two year high, around 1.28 and with EUR/USD rates sitting comfortably below 1.30 the single currency is clearly feeling the strain of stagnate Eurozone economy.

The key question now is whether we see a sustained period of GBP strength, or will the EUR find support around the current levels? Personally I feel it will be difficult for the current trend to continue, as regardless of the market conditions the Bank of England (BoE) will not want to see Sterling’s value soar. Add to this a likely overreaction by the market to last week’s referendum results and I believe we will see the EUR find support around the current levels.

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@currencies.co.uk

Sterling closes in on a 2 year high

As uncertainty increases in the single currency its value has been falling. It is currently on for the worst quarterly performance seen since the financial crises started back in 2008.  As deflation risks increase there is a building pressure on the central bank to introduce a new policy to try and get more spending. This will probably be in a form of QE. This is something that the UK, US and Japan has all now completed and in essence is putting more money in the system. The theory is that as more money is in the system, people are more likely to spend creating both growth and a higher taxable revenue. The problems with it is that as there is more money in the system its value falls. This is what we saw here in the UK when this process started a few years ago.

Now as this is quite a big difference between both the UK and the USA the currency pairs have been moving largely to price this in, weakening the euro and giving anyone who is looking to buy the single currency a great opportunity to get a good price.

These SPIKES don’t normally last for long so to get the best price you generally want to move sooner rather than later. Here we can give you access to the live markets within a few minutes and with access to award winning exchange rates you can be comfortable in the knowledge that you are going to save money. For more information or a live quote please break radio silence and get in contact. Contact the Author STEVE EAKINS via email at hse@currencies.co.uk for a personal and quick response.

Happy trading!

If you are selling Euros act sooner rather than later. (Ben Amrany)

Since the Scottish referendum the pound has been significantly strengthening against the Euro as all the uncertainty has been taken away from the UK economy. It has been around two weeks since the pound hit that low level of 1.2397 and is now back above 1.2750. For those in the need to sell Euros you may be wise to act sooner than later as it is unlikely that the pound will drop back to these levels. We actually expect rates to head towards the 1.30 level the closer we get to that all important interest rate hike in 2015.

We help many clients repatriate funds back to the UK at better rates than the high street banks and we will give you the information needed to help you decide when is the best time to make your conversion to help you minimise your risk to the market. We really do feel the longer you leave your position the worse the rate may get so you really should be looking at the options available to you to help you decide when to do your conversion.

With data thin on the ground over the next couple of days a Speech by the Bank of England Governor Mark Carney could give the pound a further boost assisting rates to be pushed up towards 1.28 and above for the first time in over two and a half years.

If you would like to discuss the service we can offer in helping you achieve the best rates of exchange then please feel free to contact myself Ben Amrany at bma@currencies.co.uk. I can explain all the options available to you and help you beat the rate of exchange that your banks offer.

Thank you for reading.

Ben Amrany