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EURO rates at near 2 year high!

GBPEUR levels are ending the week at the highest levels we have seen for the week. We currently sit at the highest level, excluding the beginning of the month, for nearly 2 years. So I personally think this is a great opportunity for anyone with euros to buy that wants to avoid any risk. The more riskier clients/traders out there may very well want to wait however. The reason being is that UK data for October are expected to be higher than that in September which was held back due to the uncertainty with the Scottish vote. So with better UK data, the Pound should strengthen, at least that is the expectation.

We all know however that rates never move in a straight line and timing a trade will remain incredibility important when moving funds. Levels are changing around 1.5% per week between the high and the low so by hundreds on a transfer below £75,000 and £1,000’s on anything over.  Keep an eye out for data this week with the busy days really being Thursday with a host of data for the UK and Europe, including key interest rate decision.

Spikes will probably be seen which give the best prices, however only for the shortest of time frames. Therefore if you want the best price feel free to exploit the SPIKE NOTIFICATIONS tool offered here.

For more information on anything above please feel free to contact the author – Steve Eakins – via his personal email address at hse@currencies.co.uk

EUR Dips Ahead of Unemployment & Inflation Figures (Matthew Vassallo)

The EUR has dipped slightly ahead of tomorrow’s key economic data releases. We have Eurozone Unemployment & Inflation figures, which are likely to cause additional volatility for EUR exchange rates. Eurozone Consumer & Industrial Confidence figures were released today and despite showing an improvement over last month, the EUR struggled to make any significant inroads against GBP.

It’s been a quiet week in terms of data releases, so tomorrow’s key figures are likely to dominate headlines and define any short-term spikes for GBP/EUR & EUR/USD exchange rates.

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

When should I buy or sell Euros this week?

Eurozone releases of importance include Consumer Confidence (Thu) and Inflation and Unemployment data (both Fri). The range of economic data released from the Eurozone make predicting movements very difficult and increases the volatility we can expect on GBPEUR. If Inflation has risen as expected we might see the Euro gain a little ground. It might therefore be wise to buy Euros before Friday.

We might get a small rise tomorrow for buying Euros if the USD strengthens this evening on the withdrawal of US QE. This is because investors may change the USD which will weaken the Euro. Tomorrow we also have Spanish GDP (Gross Domestic Product) at 8.00 am in the morning, then at 08.55 am German Unemployment. Getting the timing of your transaction correct can dramatically affect how much currency you receive. Should you wish to receive some assistance in the planning and execution of your currency exchange please contact me on jmw@currencies.co.uk

What will happen to GBPEUR rates? (Tom Holian)

Sterling Euro exchange rates have remained relatively stable this week as tomorrow and Friday we see the arguably the most important data release of the week.

Tomorrow German unemployment figures are due out in the morning and as the Eurozone’s largest economy this could see large movement for GBPEUR rates. October’s consumer confidence survey is also released at 10am and I think this could be Euro negative.

Eurozone Consumer Price Index is due for Friday 10am and any negative figures could put more pressure on the European Central Bank to intervene next week with further monetary easing.

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. Tom Holian teh@currencies.co.uk 

 

 

 

Would the UK really leave our European brothers and sisters?

The answer to this question will be coming up more and more in the future and it would appear favour is slowly moving to the yes answer. The rise of UKIP and more right wing policies generally on immigration indicates that further down the line we might see the UK leave the EU. This is quite worrisome for me personally as I think leaving the EU would be a short term disaster for the UK. The relationship perhaps deserves some new approaches to ensure the UK gets the best of it but just walking away is not the best answer.

The UK does 40% of overseas trade with the Eurozone and it is through the various treaties and EU wide deals that we have access to these markets. To abandon them would cause huge economic uncertainty and perhaps cause the pound to lose many cents. The UK economy may well recover longer term but with the state the economy is currently indo we really need such uncertainty?

The Eurozone is a very important part of the UK economy and it will be very interesting to see how this all develops in the coming months. Political uncertainty is a huge driver on exchange rates and anyone considering buying or selling euros in the future and next year may wish to make plans now.

GBPEUR Stress Tests warry

Sterling levels have been volatile again this week but levels are now tip toeing ready for the European Stress tests over the weekend. These are released on Sunday afternoon and summaries the work of over 6000 people who have been checking and testing the top 300 institutions across Europe.  Banks and Brokers are opening over the weekend as a result of the news and what information they publish. This will probably result in a large amount of money changing hands on Monday and levels being volatile. For another that is not a central bank or multimillionaire this is something to be wary of; it could give you an opportunity or equally provide a extra cost on any purchase you have. The safest thing to do to avoid risk is to limit your exposure beforehand by either buying early or putting limit orders in around the market. These act like a safety net around the market making sure you say within targets you set, very useful in these kind of scenarios.

For more information on your options and the potential reaction to these stress tests contact myself directly via email at hse@currencies.co.uk  My name is Steve Eakins and I look forward of being of assistance.

Eurozone Consumer Confidence Figures Better than Expected (Matthew Vassallo)

Eurozone Consumer Confidence figures were release today and came out better than expected at -11.1%. Whilst this is still not a good reading, any improvement above expectation is seen as positive and helped the EUR to solidify its position against GBP under 1.27 on the exchange.

The Eurozone continues to fight against weak growth forecasts and high unemployment but this in itself is starting to negatively affect other major economies, including the UK and it I do feel the EUR is more likely to move back through 1.25 against the Pound, the GBP spiking back through 1.28 on the exchange.

EUR/USD rates continue to trade well below 1.30, as the USD continues to find market support against the single currency. An upturn in the US economy has helped sustain the greenbacks position and I do not see any shift in market perception in the short-term.

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

Important Euro data

GBPEUR has mainly been determined by the pound this week but tomorrow at 9.00 am the Eurozone composite PMI (Purchasing Managers Index) will possibly be an important market mover. There is a strong likelihood it will be bad news but with generally negative tones persisting on the Euro it is unlikely any further bad news will cause the rate to lose too much ground. There could even be a slight upside surprise on the rates since the Euro is being viewed negatively by investors, any small improvement in the data could cause the Euro to find a little traction.

I would view any improvement on the Euro as well worth taking advantage of if selling since the longer term prospects I do feel favour the pound over the Euro. Making firm predictions is of course impossible but we really strive to offer useful information and an award winning rate when you do trade. For more information on getting the best deals please contact me Jonathan on jmw@currencies.co.uk

Bank of England Minutes (Tom Holian)

Sterling Euro exchange rates have remained relatively flat today as the Bank of England minutes came in exactly as expected. The vote was 7-2 in favour of keeping interest rates the same and the amount of QE has been kept at £375bn.

I think the currency markets are waiting to see what happens with UK GDP due out on Friday. The chief economist within the Bank of England was quoted recently as saying the economic outlook is different compared with the optimism of 3 months ago and that interest rates may not go up until summer 2015.

If he thinks the economy has slowed down I think we could see this reflected in the GDP figures on Friday which could see GBPEUR rates fall.

UK Retail Sales are also due out tomorrow and any negative data could see Sterling weakness.

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

 

 

 

 

Sterling Euro – Forecast For The Week Ahead

The Sterling Euro exchange rate has a busy week ahead as the next 5 days hold several key data releases.

Wednesday 23rd October – Bank of England Minutes

Wednesday has the release of the minutes of the Interest Rate meeting which was held at the beginning of the month. The meeting is held by the Monetary Policy Comittee (MPC) and chaired by the governor Mark Carney, deciding the Bank of England base rate for the month – one of the key indicators of economic strength / weakness. The Interest rate has remained at 0.5% for in excess of one year, however as the UK has achieved sustained economic growth, economists in the city have been murmuring towards and increase in the rate – a real indicator to the progress made. The minutes on Thursday will give us a good insight in to the internal thoughts of the MPC and can really move the markets. My thoughts are that the short to medium term will primarily hold Sterling strength, and would therefore be inclined to sell GBP prior to Wednesday.

Thursday 24th October – Retail Sales Figures

Those selling GBP will also want to be wary of both Thursdays Retail Sales Figures and Fridays GDP announcement (paragraph below).

Friday 25th October – UK GDP Announcement

Friday holds potentially the most important piece of data for the week. The GDP figure for Quarter 3 2014 is released and given the turbulent quarter (primarily Scotlands Political activity) we can potentially expect a market provocative figure. I have seen GDP figures move exchange rate pairings by over 2% in a moment of seconds. Had you been selling €100,000 and the rate moved against you, you’d achieve thousands of pounds less!

As such, please feel free to contact me with regard to any transfer requirement you may have. My contact details are either ajb@currencies.co.uk or 01494 787 478

Will the Euro recover against the pound?

This week is a busy week and it may be that exchange rates move outside of recent ranges. The expectation longer term is for the pound to rise against the Euro since the UK appears to be on a stronger economic footing than the Eurozone. My personal approach would be to sell Euros on the dips in your favour to avoid potential pitfalls of the pound rising against the Euro in the future.

This week we have the Bank of England Minutes which are not expected to show much change, Thursday UK Retail Sales which I think could be a big market mover and Friday we have UK GDP, the first estimate for Q3 economic growth. Thursday we also have flash PMI surveys for the Eurozone which may well be market movers too, all in all plenty to move the market!

If you need to move any currency internationally now is a good time to make some careful plans regarding your currency exchange. For more information on the forecast please contact me Jonny on jmw@currencies.co.uk

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