Euro exchange rates continues to weaken on fresh fears as 16 banks in Spain are downgraded
by Ben Amrany on May.18, 2012, under euro weakness
The Euro crisis has gathered some speed this morning with rating agencies down grading Greece and 16 banks in Spain including Santander. Global stock markets have taken a big hit as investors fears gather momentum and look for the safe havens.
The main winner in currency terms is the USD at present. It is strengthening against the Euro at a rapid pace and earlier hit a level of 1.2641. If you are selling USD to buy Euros now seems a fantastic time and if you feel that the rate may go further in your favour you can always place a limit order in the market to help you try and achieve that little bit more. Feel free to email at bma@currencies.co.uk and I can explain the mechanics of implementing this contract. I can also talk you through all the other options that are available to you.
The Single currency has today weakened against all major currencies bar the Aussie Dollar & Kiwi Dollar. It seems that the events in Europe are causing a big sell off of the higher yielding currencies and the Kiwi Dollar is now at its lowest level against the Euro since December.
As Greece’s fiscal and political situation continue to remain unclear I feel that the Euro will continue to remain very volatile. Leaders of the Group of Eight nations will meet near Washington this weekend and are expected to discuss how to deal with Greece, as well as economic growth in the US, China and Japan.
If you are selling Euros at present I would be extremely cautious as at present I can’t see any major swings in your favour. If things do not settle down in the near term you may see a big sell of of Euros and that would continue to dent the single currency. If you have an exchange to make and are worried about the decline of the Euro please feel free to contact me at bma@currencies.co.uk and we can discuss how best to limit your exposure.
Ben Amrany
Greek hangover still weighing on the Euro
by Mike on May.17, 2012, under Economic Information, Euro Strength, The Week Ahead
Greece is set to go to the polls again after days of coalition talks failed to produce an agreement on a new government. The elections on 6th May, showed a majority of Greek voters backing parties opposed to austerity plans demanded by the EU and IMF in return for two bailouts. Polls suggest the leftist Syriza bloc, which came second in the 6th May vote and rejects all further cutbacks, could become the largest party after a new election. Syriza wants to renegotiate the bailout package but also wants to keep Greece in the euro.
However European leaders say they will cut funding for Greece if it rejects the bailout agreed in March. This would effectively mean bankruptcy for Greece and German Finance Minister Wolfgang Schaueble again ruled out amending the agreement. Yesterday an interim ‘caretaker’ government was sworn in to power led by a former high court judge Panagiotis Pikramenos will take the reigns until the new vote scheduled for the 17th June.
I feel this will continue to heap pressure on the Euro and any Euro sellers, certainly if funds are not liquid, may wish to consider a forward contract to guarantee their rate in advance. For Euro buyers this is potentially good news, however should you wish to take advantage of the current spike (we are trading at a near 3 1/2 year high on GBP/EUR) then a forward contract again might be the sensible option. Alternatively should you still have time on your side and have a particular target rate in mind then why not consider the use of a limit contract. This contract allows you to set a target price and should this level of exchange be reached your position will be automatically bought/sold. These contracts are designed to sit in the market 24/7 to make sure an opportunity is not missed, to discuss this and your position in more detail then please contact Mike on mgv@currencies.co.uk or call 01494 787 478.
Data for the rest of theis week to keep your eye on:
Today is a very quiet day with Bank holidays in parts of Europe. Tomorrow will see German CPI (Consumer Price Inflation) data. These inflation figures are important as they give a useful insight as to what the ECB (European Central Bank) will do with future interest rates. Should inflation be kept under control is gives more scope for rates to stay on hold or potentially fall which may well weaken the Euro further, we are expecting a small drop month on month from 0.4% to 0.3%.
Tomorrow we also have the start of the G8 summit, the meeting of the finance ministers from the group of eight industrialized nations that are the United States, Japan, Germany, France, United Kingdom, Italy, Canada, and Russia. Here the ministers will discuss important economic policy, and I am sure the on going euro zone issues will be top of theuir list so watch this space! To discuss this blog and my views or to run through the service we provide please email Mike at mgv@currencies.co.uk
Euro exchange rates hit fresh lows against the USD & GBP. What will happen with the Euro going forward
by Ben Amrany on May.16, 2012, under euro weakness
Every day there seems to be negative news to come out of the Euro zone which is having a real impact on the single currency. If you are holding Euros to exchange them to pounds or USD you may be finding this time worrying and stressful. The Euro yesterday weakened to fresh lows against the pound at 0.7951/1.2577 and was down against the USD to 1.2680. If this is of concern please email me at bma@currencies.co.uk and I can talk you through the options that may help you limit your loss.
In early morning trading yesterday there was a very small window of opportunity when the Euro did strengthen. This was on the back of some positive GDP data to come out of Germany. Their economy grew more than what was anticipated and this lent some support to the Euro. However this strength only lasted a very small amount of time. By the afternoon the Euro continued its recent trend by weakening to the levels stated above.
Now looking forward with all the uncertainty that is surrounding Greece (It seems like they are going back to the polls) with the anti austerity voters looking at hampering the calls from the EU and IMF. Now the Polls are suggesting that the leftist Syriza bloc could get in and they are opposed to any further cut backs in their country. This is all leaving an awful lot of uncertainty and the biggest loser at present are clients that need to sell their Euros.
Now although the rates are lot worse than last year you have to look at these things logically. There are not many analysts out there that think this situation is going to change in the near term and that the Euro will strengthen significantly for a long time. If you feel that the Euro will fight back please email me at bma@currencies.co.uk and let me know your reasons why. If you are in the mind set of most analysts that think the pound and the US Dollar will hold its ground and linger at the current levels for a good few weeks you may be prudent to look at cutting your loss and get as much back for your Euros as possible. Unfortunately the longer you leave your exchange the worst it may get for you.
If you are buying Euros in the near term things could not be going better. I would be placing limit orders in the market to try and ride this positive wave and see if you can achieve that little bit more. As stated though if you are selling I would be acting very soon. If you would like to make contact you can email me at bma@currencies.co.uk and we can discuss your requirement and the options that are available to you to help you decide when is the best time to make your exchange. We will make sure that teh rates of exchange we offer are a lot more competitive than your high street bank so you will get our expert personal service plus a better rate of exchange.
Ben Amrany
Where is the Euro heading this week? GBP/EUR close to 1.25!
by Mike on May.14, 2012, under Euro Strength, The Week Ahead, euro weakness
As we head into the beginning of the trading week we have seen the GBP/EUR rates continue in the same fashion as last week pushing on close to the landmark of 1.25 and Euro/dollar push below the 1.29 mark. I feel a trend that is likely to continue, certainly for this week. For anyone selling Euros it is a worrying trend and showing little signs of slowing with the Greek debacle likely to rear its ugly head again. Following the recent elections in Greece the inability to form a Government has heaped pressure back onto the Euro and the possibility of default from Greece becomes ever more likely with many top European bankers considering the possibility of a Eurozone without Greece. Many within Greece are firmly against the terms of the bailout package and should the hard-left Syriza party (polls showed the hard-Left Syriza party on 25.5%, making it the dominant force in Greek politics currently) get into power, the anti-bailout party is likely to stir things up no-end. I for one am still a firm believer that it will remain in the Eurozone for the time being and should Greece leave the zone the process will take years not months, but this is still likely to keep the Euro weak for the foreseeable.
Further problems for the Euro were also seen this morning as Spanish Bonds hit a 2012 high of 6.218% creeping ever closer to the 7% mark that is seen as the benchmark for bailout (as seen by Greece, Ireland and Portugal). The higher the rate on a bond the worse this is perceived for the issuing country as simply the interest returns they re-pay are greater and hence the higher the interest rate the riskier the bond is.
Data of note for those with an interest in the Euro to start the week:
GDP (Gross Domestic Product) figures from Germany at 07:00 tomorrow. Expected to show a light improvement month on month from -0.2% to 0.1% – could lead to short term Euro strength early if as expected, of course if figures are worse then expect further Euro losses.
Following Germans GDP we have European figures at 10:00 – expected to again show a slight improvement from -0.3% to -0.2% – again could have the same impact as date from Germany.
For those with an interest in GBP/EUR on Wednesday watch out for UK unemployment figures at 09:30 (expected to rise from 8.3% t0 8.4%) could hamper the pounds recent gains).
Should you wish to discuss the market in further detail or have an upcoming currency requirement and you would like to discuss the best contract to suit your transfer ranging from a standard spot contract to a forward, a stop/loss, or a limit contract, then please contact me asking for Mike on mgv@currencies.co.uk or call 01494 787 478
Euro still finding life tough… Spainish banking sector next to hit the headlines
by Daniel on May.11, 2012, under Economic Information, Euro Strength, Media Quotes, The Week Ahead, euro weakness
So, for those of you holding Euros I would imagine you have had a fairly nervous time of late… It seems every single day there is something new hitting the headlines to make you squirm.
Yesterday it was Spanish banks, the Spanish Government has made the decision to take a 45% stake in troubled lender Bankia. This immediately sparked concern and Spains 10 year bond yield soared back above 6% which is worryingly close to the 7% levels we saw Ireland Greece and Portugal bailed out at.
The one thing with Spain at the moment that may keep them just about avoiding a bailout for now is the fact that their Public borrowing levels are slighly less than theie GDP however will this stay the case if more banks step forward needing assistance.
If you are selling Euros you need to consider the following:
Economic troubles are widespread accross the Eurozone
Political problems may well lead to front page news in the coming weeks and months following news from France and Greece… Economic stability and Political certainty are two of the major factors that effect the strength of a currency.
If you were an investor, would you choose the Euro ahead of Sterling at present? Even with the U.K just slightly in a recession?
Rates are creeping down on almost a daily basis, it may be prudent to seriously consider your options inclusive of a stop loss order, a forward contract (if you are selling a property yet don’t yet have full avaiability of funds) or a limit order in case we see the market bounce back slightly.
I can help you with all of these whether you are a private or corporate client trading any amount from €1000 to multi millions. Feel free to contact me directly djw@currencies.co.uk and I will be more than happy to add you to my ever growing list of satisfied clients.
What can we expect now on Euro rates? EURGBP and EURUSD Outlook
by Jonny on May.09, 2012, under Economic Information, Euro Strength, euro weakness
Whether looking to buy or sell the Euro current events are having a serious effect on the exchange rates on offer. For years and months many have talked of the danger of the debt crisis in Europe and it is now being properly reflected in the exchange rate. The rate has dramatically shot up lately and I cannot see any change in this current course, nor any reason to turn the tide.
Anti austerity parties are threatening to tear up the fiscal pact which had brought calm to the markets last year. It is only now we can see how the ‘Merkozy’ partnership was key to the Euro’s strength for the last few years. I doubt whether Francois Hollande will be quite as bad as predicted but it is the events once again in Greece that have really got investors nervous. The parties that have gained support are not only opposed to the fiscal pacts, they are also opposed to the bailout itself!
EURGBP Outlook
If you are looking to buy Euros with sterling, you are looking at a 3 and a half year high today. With the pound gaining favour on the back on eurozone uncertainty, the GBPEUR is heading in one direction only. If you are looking to sell Euros for sterling I am afraid things have got bad for you but may be about to get much, much worse. With no sign of abatement in the current crisis and the pound finding more and more favour, it looks like this type of transaction will only get more and more expensive. Even bad economic news like the fact the UK is in recession has not damaged the pound and since the UK is likely to be the first of the UK, US and Europe to be raising rates, I really think anyone selling Euros for sterling should act quickly to avoid further disappointment. If you do not need to make a EURGBP trade for sometime, do not worry we can still fix rates ahead for a future date utilising our forward contract option. Even if you are firmly of the belief that the rate will somehow magically go back to 1.15, I recommend making some kind of contingency. As a specialist currency broker I can offer free information on all of your options at this time. Feel free to email me on jmw@currencies.co.uk or why not call 01494 787 478 and ask to speak to me quoting ERF.
EURUSD Outlook
If considering selling Euros for dollars, I think current levels are well worth taking advantage of. Whilst the rate has of course dropped lately I fear it may get worse. At the moment the Euro is weak but the dollar is also weak! If this Eurozone crisis continues to escalate and we see a more risk off approach by traders, we will more than likely see the rate move towards the 1.26-1.27 range as theUSD is a safe haven currency. USD is used by investors in times of real uncertainty (which may soon be approaching) and whilst the US is performing reasonably well at present, Friday’s poor jobs report could be a sign that things are not all as good as could be. If looking to sell USD for the EUR, I think it may be worth holding on to see what happens in the coming weeks. The US dollar accounts for over 80% of all currency transactions so any big moves here will have a massive effect on the rate.
The current economic climate is still very fragile, particularly in the Western economies, Europe in particular. If Greece has to leave the Euro or there are further unexpected economic and political developments in Europe, you may find things get much much worse. Have you planned for the worst? This site has is for information for anyone looking to make a currency exchange. Working as specialist currency brokers for the UK’s largest independent brokerage, this site was originally written for our clients who wanted to know what to expect on rates. If you are considering any Euro trades (or any other currency) and would like some specific information relating to the transaction you need to undertake please feel free to make contact on jmw@currencies.co.uk or 01494 787 478, quoting ERF.
Political uncertainty rocks the Euro! Why now is surely the best time to sell Euros…
by Jonny on May.08, 2012, under Euro Strength
Political uncertainty rocks the Euro!
A double whammy of political uncertainty following French and Greek elections has this weekend rocked the Euro, sending it to a 3 ½ year low against the pound and a 4 month low against the dollar. If considering any Euro transactions, even if months or years down the line, these events will surely be vital to the future direction of the Euro rate. The uncertain outlook in Europe is actually giving the pound strength so if you are selling a foreign currency and looking to buy the pound even if months down the line, now may be the perfect time to limit your exposure utilising a forward contract. To speak to me or one of us about all of your options you can contact the trading floor direct on 01494 787 478 or email me personally on jmw@currencies.co.uk
Austerity Verus Growth?
The new French President Francois Hollande’s anti austerity agenda contrasts directly with the approach to the European debt crisis epitomised by the previous President Sarkozy and German Chancellor Angela Merkel. And this weekend in Greece, elections have given anti austerity party’s massive support. It is this uncertainty that has caused the Euro to weaken.
Investors and the markets however favour the austere approach seen by the UK. This is one of the reasons the pound has found so much favour lately despite the fact the UK is in recession. The pound is currently at a 33 month high on a trade weighted basis. With the uncertainty in Europe set to continue there are still a number of outcomes which could affect the Euro and the pound. Of course nothing is guaranteed on exchange rates and whilst it looks like these trends may continue the economic conditions for the UK are still extremely fragile and should not be taken for granted. A fairly quiet week on the economic data front does contain the Bank of England Interest Rate decision on Thursday. If considering any transactions involving the pound these excellent trading levels are well worth monitoring. Stop / Loss orders stop you getting a ‘worse than’ rate should the market drop. A ‘Limit’ order enables you to choose a higher rate for us to automatically buy at should the market reach a certain level. If a corprate or private individual with a budget or profit margin to protect, these orders are critical to guaranteeing you are protected from market fluctuations.
Unlike some Western commentators I have been very supportive of the European project. Too many times the Euro project has been criticised and I have maintained a balanced view on the outcome. But these latest developments are really concerning. The economic conditions have deteriorated. Now the Far Right and Far Left political parties are gaining support in the countries making governance even harder. Germany has been seen as the key to promoting the Euro’s strength. But on a daily basis we are seeing the strength of Germany and as such the Euro project undermined. I now have to ask myself where is all this heading? For anyone holding Euros or indeed any other currency looking to buy the pound, I really think now is the best time to pounce. The double whammy is that the UK is finding support because of the budget deficit reduction measures. The UK is looking like the next major currency to be raising interest rates, and investors are preparing themselves. Even if you don’t pull the trigger today, if considering any Euro trades, you should really be loading the gun…
Even though I am a currency specialist working for one of the UK’s leading currency brokerages I cannot sit here and tell you exactly what will happen, no one can. But I can help you get the very best exchange rates and offer my personal assistance with the timing of your exchange. We offer a highly personal account manager service and a range of contract options to help limit your exposure which is critical to maximising your exchange rate. Even if you have already made plans, it is always worth a second opinion and double checking you really are getting the best deal on the rate. I can help you do this for free today. Please call (+44) 01494 787 478 and ask to speak to me Jonathan quoting ERF. Or email directly jmw@currencies.co.uk
I look forward to hearing from you
GBP/EUR levels Remains Strong Despite Negative PMI Service Data and Poor Unemployment Forecasts
by Matt V on May.04, 2012, under Economic Information, Euro Strength, euro weakness
GBP/EUR levels have held firm today despite yesterday’s UK PMI (Purchasing Managers Index) Service figures showing a contraction down from 55.3 last month, to 53.3 this month. This set of data is considered key for the UK, as the services sector makes up two thirds of the UK’s economic output. This proves that whilst Europe does seem to be suffering on a grander scale, the UK still has a long way to go until it returns to economic stability.
This adds fuel to the fire that the current Sterling strength we are seeing against the euro is due far more to the economic and fiscal problems in Spain and many other parts of the region, rather than any real investor confidence in our own currency. I believe GBP/EUR levels will find resistance against 1.24 but based on the current economic conditions the single currency will struggle to break back through 1.20 any time soon.
There was further bad news as a report released by The National Institute of Economic and Social Research (NIESR), predicted that the current UK unemployment rate will rise from its current rate of 8.3% to almost 9% by the end of the year and could do “permanent damage to the UK’s productive capacity”.
EUR/USD rates have fallen away on Friday by almost 0.5% and at time of writing were sitting just below the 1.31 mark. Resistance has been met selling at 1.30n but has struggled to make significant inroads past the 1.32 mark. Data in the US has dropped off of late but stand head and shoulders above that in Europe. Investors will wait to see further proof that the US economy is consistently improving and then we may well find some USD weakness as investors move money away from the ‘safe haven’ Dollar and into riskier currencies such as the ZAR and NZD.
If you have an upcoming currency requirement or have any queries about the markets then please feel free to contact me directly at mtv@currencies.co.uk or on 01494 787 478.
Will the ECB decision yield any fresh Euro movements?
by Jonny on May.03, 2012, under Euro Strength
The markets appear fairly poised at the moment, with no major break in any direction being established. The Euro is clearly under pressure however having reached a 22 month low against the pound. The reason there has not been too much movement on EURUSD has been the dollars weakness. The ECB decision at 12.45 and the press conference afterward by Mario Draghi, the President of the ECB (European Central Bank) could shine some light on future policy decisions for the Euro.
With such mixed signals from the data we are seeing and markets keenly awaiting the French election decision, I feel the Euro could be due a break fairly soon. Yes Spain is a massive weight on the markets but we could well see some support for the Euro once the election result comes out Sunday night. If looking to move Euros (buying or selling) and unhappy with current levels, this is well worth waiting for and being prepared for.
Friday we have US Non Farm Payroll data which could really stoke EURUSD. The gamble in this kind of market is doing nothing so for more information about current rates and how you can protect yourself feel free to contact us directly on 01494 787 478 or email me on jmw@currencies.co.uk
Is it now time for a spell of euro strength?
by Jonny on May.01, 2012, under Euro Strength
With all the waves of Euro negative news lately the rate has been at its weakest against sterling leaving anyone looking to selling Euros for commercial or private interests at a loss. The trend has only got worse and worse reaching a peak above 1.23 (below 0.8130). The euro rate has clawed back a bit trading at 1.2230 currently on GBPEUR, 1.3260 on EURUSD. Why is this and can we expect some further gains?
Well Spanish GDP yesterday confirmed Spain is in recession, but not as bad as thought. Spain in massively in the firing line but at the moment the threat of immediate danger does seem to have passed based on this news and the fact any bailout could be some time off. I do personally think it is only a matter of time now before Spain goes the way of Greece and if you are looking to sell Euros it is really worth biting the bullet and cutting your losses sooner rather than later.
The depth and breadth of this crisis will continue to be determined by upcoming economic data and political news. One week from now France will have a new President and it may be that this gives the market some calm whoever it is. Francois Hollande is not quite the ‘leftie socialist’ some view him as and he may fall in line if he does come in to power, once he realises the gravity of the situation. Would he really stand by and watch Europe and the Euro crumble? It is the answers to these questions we will have answers to soon…
How can I limit myself from these dramatic movements?
As specialist currency brokers we can help limit your exposure on the currency markets by offering a range of contract options all designed to help protect you from unfavourable movements.
Forward Contract – Do you know that you need to sell Euros in the future? If selling a property or receiving payment in Euros in the future, we can help book today’s rate forward for up to 2 years. This means that you know in advance how much it will cost you when that day arrives. A very popular option at the moment with so much uncertainty and the prospect that the Euro is only going to weaken more. Speak to me to find out how this option works in practise on 01494 787 478 or email directly on jmw@curencies.co.uk
Stop / Loss – This is proving popular as it protects your current rate. If your profit margins on an investment depend on not getting ‘worse than’ a certain rate, a stop / loss ’stops’ further losses. You choose the rate and we enter it on our system. This automatically watches the rate and you are guaranteed to not get worse than a certain rate.
Limit – The same as a stop / loss but you choose a higher rate you wish to trade it. If the rate moves up to your level at any point, even for a second, your rate is guaranteed.
You could even hedge your risk by looking at these otions on different amounts of your funds. That way you are not leaving it all to the risk of market movements.
As well as these, we can offer assistance with the actual timing of your exchanges. If you are unsure about the various options to you why not take the stress out of the decision and talk to a specialist. I work for an award winning currency brokerage in the UK and we write this blog for information for our clients and new clients alike. Feel free to contact the author directly on 01494 787 478 or email directly on jmw@curencies.co.uk
I look forward to hearing from you
What data is likely to affect Euro exchange rates this week?
by Mike on Apr.30, 2012, under Economic Information, The Week Ahead, euro weakness
The market has been relatively flat today with the pound starting strongly against the single currency in the mornings session but the Euro fighting back this afternoon. For Euro buyers we are still seeing some very good opportunities briefly touching up above 1.23, but what data is likely to affect Euro exchange rates for the rest of the week?
We have a relatively quiet day tomorrow being labour day in Germany, however Wednesday certainly could cause some volatility. We have a number of data releases from Europe, the UK and US but I will highlight those to me that will be of most importance:
09:00 BST we have the Manufacturing Purchasing Managers Index (PMI) released in Germany – this captures business conditions in the manufacturing sector and as the manufacturing sector dominates a large part of total GDP, this is an important indicator of business conditions and the overall economic condition in Germany. Figures are expected to fall from 48.4 to 46.3 highlighting a contraction and may well cause further Euro losses if the data is as expected.
10:00 BST European Unemployment Rate – with Spain posting record figures of near 25% last week this figure is also expected to be poor and again may affect short term Euro exchange rates.
Thursday
Nationwide UK house price data – expected to show an increase in prices month on month and with the UK economy heavily dependent on the housing market any positivity tends to drive the pound.
12:45 European Central Bank Interest Rate decision. It is that time again. Regular readers will be aware the impact this can have on the value of the Euro – the market expects rates to stay on hold at 1% but watch out for Mario Draghi’s speech 45 minutes later for an indication as to future European monetary policy.
Friday
10:00 BST European Retail Sales – expected to show a small contraction.
13:30 BST US Non-farm payroll data. Can cause a huge impact on the dollar movements as it shows the number of employees on the payroll of all non-agricultural business and is a key indicator as to the performance of the US economy. Figures are expected to increase by 45k from the previous month, should the figure show this I would expect US dollar strength against the Euro Friday afternoon. Should the figures be worse than expected then expect dollar weakness.
As mentioned these the key data sets that anyone with an interest in the Euro should keep an eye on for the rest of this week and all can have a major impact on the short term direction of the Euro. Should you have an upcoming exchange to arrange and wish to discuss the impact these releases may have on your requirement then email Mike at mgv@currencies.co.uk or call 01494 787 478
It is probably going to get worse before it gets better…
by Jonny on Apr.27, 2012, under Euro Strength
Spain Downgraded
I expect the Euro to remain under pressure again today as Spain was yesterday downgraded by Standard & Poor’s, the ratings agency. The economic conditions in Spain are deteriorating rapidly, the most worrying thing is there is no sign things are getting better. Unemployment is at 23%, half the population aged 16-24 year old is out of work and their economy is showing no signs of the growth necessary to pay off the colossal debts of both the private sector and government. Turning this economy around will be like trying to handbrake turn an articulated lorry down a single track country lane… there is going to be some damage!
News Today
No significant economic data on the UK or European markets today. There is an Italian bond auction however which may be closely watched because of the Spanish decision. There is big news across the pond, well worth keeping an eye on, if watching EURUSD. We have US GDP at 13.30 UK time. I would expect some movement on EURUSD and we could easily see some movement on GBPEUR as investors move in or out of the Euro to the dollar. US economic growth has been fairly positive at 3% in Q4 2011, and expectations are for 2.5% for Q1 of this year. If you have any EURUSD trades, just let me know and I can keep you informed of this really important release and explain how it affects your exchange.
EURUSD has been fairly range bound in the low 1.30’s-1.32 of late. This afternoon’s US data could easily tip the scales in one direction. GBPEUR is really knocking on the door of that 20 month high, today’s high has been up to 1.2290!
Looking at the bigger picture on Euro rates, this crisis is no closer to actually being solved. Standard & Poor’s said one of the reasons for their downgrades was due to the lack of ‘effectiveness’ in tackling the sovereign debt crisis. If you are concerned about the way the Euro is going we can help limit your exposure by fixing rates. We can also help you by inserting stops and limits into the market to make sure your transfer doesn’t become too expensive. If you would like to learn more please get in touch.
If looking to make any currency transfers we can help with not only the very best rates (we will always do our utmost to win business for anyone who contacts us via this site), but also assistance with the actual timing of your trade. By pointing out upcoming data and highlighting movements in your favour we can help ensure you really do get the best rate of exchange. Speak to me to find out more.
If you would like to get in touch, please feel free to contact me personally on 01494 787 478 or jmw@currencies.co.uk
I look forward to hearing from you
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Euro Rate Forecast
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