Monthly Archives: November 2010

Seling or Buying Euros? Speak to us first..

November 30, 2010   Euro Strength

Euro weakness following the Irish bailout fallout coupled with Sterling strength following the Office of Budget Resposnsibilities announcements yesterday have caused the pound to gain to over 1.19 on the markets this morning.

This excellent opportunity to buy euros should not be missed as it could all quickly come crashing down. The UK has huge exposure to European debt and should the other economies start to falter, we may see sterling weakness. This was seen in the early stages of the Irish bailout as sterling fluctuated majorly by over a cent a day depending on how the markets viewed sterling against euro.

I would not be suprised to see these levels continue but regular traders know we should always be cautious. Why risk the extra gains? We are expert currency traders writing this blog for the benefit of anyone who needs to buy or sell currency. We have access to some of the sharpest rates available and can offer expert guidance as to the most cost effective time to secure currency.

If you are buying or selling a property abroad, have business transactions to carry out or simply need to get money overseas for any other reason and want the best exchange rates, just fill in the form below and one of the experienced traders that write on this blog will be in touch shortly. Alternatively, if you would like assistance in finding your dream home abroad then feel free to visit <a href=”http://www.overseaspropertysearcher.com/“>www.overseaspropertysearcher.com</a> and let one of our property experts make the hunt much easier for you.

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Quiet day on the markets, great day to buy euros!

November 26, 2010   Euro Strength

Today sees very little data out that could move the market. I expect therefore that the current very attractive levels on buying euros – close to month highs – will remain. It is unlikely any major developments in the Irish crisis will be seen while we wait for the austerity measures on Dec 7th but this issue and the contagion potential will not go away. These issues have been heavily covered by the media lately and don’t really need anymore coverage here. Suffice to say they are key and will surely weigh on the euro and sterling next year.

Monday is supposed to be the biggest day for UK online retail sales as people have just been paid and like to shop online well before Christmas to avoid delivery issues. The retail sector is key to the UK’s GDP figures so a good seasonal bout of consumer spending should help the pound. Despite confidence being fairly low the VAT increase next year could encourage people to spend more now on large purchases. The US has also reported very strong consumer sales for November – we may see November as the best month for retail sales in the US for three years. As the saying goes when the US catches a cold the world sneezes so this could carry over to the UK.

Either way speak to us here at ERF for the best currency deals around. We can offer commercial and preferential rates that undercut the banks. Couple this with unrivalled customer service in the form of market updates and commentary and you have all you need for expert currency management.

If you are buying or selling a property abroad, have business transactions to carry out or simply need to get money overseas for any other reason and want the best exchange rates, just fill in the form below and one of the experienced traders that write on this blog will be in touch shortly. Alternatively, if you would like assistance in finding your dream home abroad then feel free to visit www.overseaspropertysearcher.com and let one of our property experts make the hunt much easier for you.

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Euro weakness creates great buying opportunities

November 24, 2010   Euro Strength

The Irish bailout could be the trigger to a much wider and known crisis. Just looking at how much the euro has lost against the dollar from the flight to safety at fear of Contagion could be a sign of where we are heading. Where before investors had bankrolled the euro due to the lack of QE being announced, the US dollar is now the investors choice. We have discussed many times how sentiment and confidence moves the market and for the last few years between the euro, dollar and sterling determining the favourite has has been a case of a lesser of three evils.

This is currently the dollar and I would expect long term we could see sterling make inroads into the eurozone. The sturctural debt and growth problems continue to create weakness which won’t go away. I don’t think we will see major weakness for the euro on the GBPEUR rate this side of Christmas, partly because the Irish issue affects the UK too much. But should the UK continue to ebb out of recession (something that will be determined by UK GDP figures this morning at 09.30 GMT) could be seen next year as the focus returns to the peripheral countries Portugal and Spain, which are not so connected to the UK.

As specialist currency brokers for the UK’s largest independent currency firm, we are very well placed to assist with your personal currency requirements, offering award winning rates and service.

If you are buying or selling a property abroad, have business transactions to carry out or simply need to get money overseas for any other reason and want the best exchange rates, just fill in the form below and one of the experienced traders that write on this blog will be in touch shortly. Alternatively, if you would like assistance in finding your dream home abroad then feel free to visit www.overseaspropertysearcher.com and let one of our property experts make the hunt much easier for you.

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Ireland debt package makes euro buyers shiver

November 22, 2010   Euro Strength

Over the last 24 hours Ireland has followed Greece’s theme and asked for the much needed support package from the EU/IMF. This is additional to additional support loans from both the UK and Sweden. The package is suggested to be towards €100Billion even though the final payment package and the countries pay back plan is still not complete, (similar to that of a business plan when you apply for a loan from the bank.)

This in turn has made large movements in the currency market today even though Ireland equates for such a small proportion of the entire euro GDP. It puts the glare of the markets strongly onto Portugal’s shoulders next. Clients that have a money transfer across to the Euro will be watching and listening strongly over the coming hours and days.

If I was in the position where I needed to buy or sell euro’s I would be torn. Will it weaken further or will Sterling now climb. Wednesday is a day to make your mind up by as we have UK GDP figures being released that currently are expected to weaken sterling but debt talks could over shadow all releases this week and potentially a lot longer.

If you are buying or selling a property abroad, have business transactions to carry out or simply need to get money overseas for any other reason and want the best exchange rates, just fill in the form below and one of the experienced traders that write on this blog will be in touch shortly. Alternatively, if you would like assistance in finding your dream home abroad then feel free to visit www.overseaspropertysearcher.com and let one of our property experts make the hunt much easier for you.

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Excellent GBPEUR rates remain… For now…

November 19, 2010   Euro Strength

We are still seeing some excellent trading levels on the GBPEUR rate and the feeling now is it may not last.

The Irish bailout has pretty much been confirmed although it is not being termed a bailout, more a loan. I don’t personally think there is much difference! Either way the reality is they are going to have to ask for some assistance and the story is quite well documented now. And because of the UK’s involvement financially it hasn’t had a massive impact on the GBPEUR rate.

What I would expect to cause some further volatility would be news that the scale of the problem is worse than expected or the news that Spain, Portugal or Ireland are going to require similair help.

The ECB have shown themselves to be very prepared to step in when the very stability of the euro is threatened. As long as the worst is over for the euro, then I would expect rates to remain in the mid teens band. But should those underlying fears bubble up, we could quite easily slip closer to the 1.20 levels seen earlier this year. Uncertainty is still the watch word so stay in touch with us here as small spikes do appear which if taken advantage of will save you money. Alternatively why not get in touch with us on the contact form? As specialist currency brokers we can micro manage your requirements offering a dedicated personalised service that undercuts the banks and can save you money.

If you are buying or selling a property abroad, have business transactions to carry out or simply need to get money overseas for any other reason and want the best exchange rates, just fill in the form below and one of the experienced traders that write on this blog will be in touch shortly. Alternatively, if you would like assistance in finding your dream home abroad then feel free to visit www.overseaspropertysearcher.com and let one of our property experts make the hunt much easier for you.

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Irish bail out is on, euro weakness

November 18, 2010   Euro Strength

Evening readers,

Over the next few days papers will be full of the fresh news that the Irish is now confirming they are agreeing the bailout package. The Irish Central Bank governor Patrick Honohan has said he expects the Irish Republic to accept a “very substantial loan” as part of an EU-backed bail-out.

This has weakened the euro making it cheaper to buy in the short term however it is still unsure the scale of the package and therefore the full impact of the loan is yet to be priced in.

If you are buying or selling a property abroad, have business transactions to carry out or simply need to get money overseas for any other reason and want the best exchange rates, just fill in the form below and one of the experienced traders that write on this blog will be in touch shortly. Alternatively, if you would like assistance in finding your dream home abroad then feel free to visit www.overseaspropertysearcher.com and let one of our property experts make the hunt much easier for you.

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Ireland debt could pull sterling down

November 17, 2010   Euro Strength

Morning readers,

Many euro buyers will recently be reading the media and thinking that if Ireland does put their hand out asking for support it will make the euro cheaper to buy. Sorry to be the bearer of bad news but that is potentially not correct. In fact the UK would have to put in the second largest contribution into the support fund, equating to 12%. In real figures it has been suggest that this could be up to £7 billion pounds.

In a time when the UK is slowly on the track of recovery, a financial obligation like that would really slow down the UK progress and hence the pound has weakened over the last 36 hours in a build up to the Irish crises.

The forecast for sterling and the all important question about when to buy is becoming more and more difficult. Later today we have both the Bank of England minutes and Unemployment figures. These are both forecasted to weaken the pound making it a welcome relief for buyers of the pound however clients looking to buy property or pay invoices in the euro zone are a little less happy.

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Irish PM to give statement at 17:00pm today – Euro volatility!

November 16, 2010   Euro Strength, Media Quotes

Important information due to come out in just under an hour for those with Euro interests – It is expected that the Irish PM is due to release a statement regarding their economy at around 17:00pm

This could lead to an extremely volatile Euro rate so do feel free to get in touch if you have a transaction to make.

Obviously this could result in anything but personally I think it may be bad news for the Euro Zone as a whole leading to Euro weakness later on but as always be prepared for anything!

If you are buying or selling a property abroad, have business transactions to carry out or simply need to get money overseas for any other reason and want the best exchange rates, just fill in the form below and one of the experienced traders that write on this blog will be in touch shortly. Alternatively, if you would like assistance in finding your dream home abroad then feel free to visit www.overseaspropertysearcher.com and let one of our property experts make the hunt much easier for you.

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Irish Debt Crisis to devalue Euro?

November 16, 2010   Euro Strength

The Irish debt situation has all the hallmarks of the Greece situation earlier this year where the ECB had to step in to prevent contagion causing the markets to absolutely lose confidence in the single currency and thus significantly weakening the euro.

A similair situation has reared it’s head and once again the ECB needs to step up or we are sure to see further uncertainty and instability.

So far the ECB has been slow to react and we are seeing mixed reports as to whether or not there are talks ongoing – the Irish government deny they have asked for support, whilst it is suggested there are plans in place – furthering the confusion.

The reality is if Ireland do have to ask for a bailout the commitment of the Eurozone will be tested and it is likely that Portugal and even Spain will need to ask for assistance. This is not a problem limited to Ireland and the upcoming reponse will be key to euro strength. Expect much volatility in the coming weeks as the story unfolds. Why not speak to us directly by using the contact form. We can personally assist offering guidance on your transfers and helping to reduce the volatility which can reduce the value of your currency exchanges.

If you are buying or selling a property abroad, have business transactions to carry out or simply need to get money overseas for any other reason and want the best exchange rates, just fill in the form below and one of the experienced traders that write on this blog will be in touch shortly. Alternatively, if you would like assistance in finding your dream home abroad then feel free to visit www.overseaspropertysearcher.com and let one of our property experts make the hunt much easier for you.

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Great buying euro opportunity persists

November 15, 2010   Euro Strength

Euro Trade Balance figures are due out this morning and could present some volatility. This release at 10 am GMT is an indicator of the difference between EMU (European Monetary Union) imports and exports. Now the figure is expected to show that the eurozone has reduced what was a negative trade balance and are now running a surplus. i.e they are now exporting more than they are importing. Should this figure come in as expected or stronger indicating a surplus, I would expect some euro strength as this would indicate that the economy in the eurozone is improving. However should this be the case the reasoning will more than likely be Germany’s outstanding exports this year.

Germany’s strong performance this year is no secret to the market however and I think investors will see through any strong results, straight to the weaknesses troubling the eurozone right now, namely the Irish debt bailout and record yields on bonds in the peripheral eurozone economies.

We may see some euro strength today but as previously for the euro good news can’t indefinitely outweigh the bad…

If you are buying or selling a property abroad, have business transactions to carry out or simply need to get money overseas for any other reason and want the best exchange rates, just fill in the form below and one of the experienced traders that write on this blog will be in touch shortly. Alternatively, if you would like assistance in finding your dream home abroad then feel free to visit www.overseaspropertysearcher.com and let one of our property experts make the hunt much easier for you.

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European GDP change buying euro forecast

November 12, 2010   Euro Strength

This morning the German GDP figures were released and came out slightly lower than expected causing so uncertainty in the pound euro exchange. We have the European GDP figures being released at 10 am this morning which will be the biggest report this week and could change this weeks movement back into negative for the pound.

The market is expecting a smaller growth than last month, with a fall of 0.5% forecasted. I think many traders will be holding off buys until this report as it could change this month’s forecast for the euro zone.

Clients looking at selling euro’s and buying pounds this month should be moving quickly, if you are in this position and reading this now enter your details below and we can get in contact with your options. You can use a forward contract and for a small sterling deposit lock in your rate now securing you for the forecasted fall in the value of the euro.

As European debt continues to get more press and the bond markets moving widely I think it is clear that in the short term the euro could weaken further.

If you are buying or selling a property abroad, have business transactions to carry out or simply need to get money overseas for any other reason and want the best exchange rates, just fill in the form below and one of the experienced traders that write on this blog will be in touch shortly. Alternatively, if you would like assistance in finding your dream home abroad then feel free to visit www.overseaspropertysearcher.com and let one of our property experts make the hunt much easier for you.

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Best exchange rates to buy euros in 8 weeks

November 11, 2010   Euro Strength

Today concerns about european debt returned following comments at the G20 about struggling Ireland. They commented that they were in a position to easily support Ireland if they were to fall into a Greece style problem. This comment leads investors away from the euro and has pushed the GBPEUR rates to close to 8 week highs as the sterling outlook looks better than its european cousins.

With the US markets closed today due to Veteran’s Day the GBPUSD pairing has stayed fairly flat with little movement.

Tomorrow we have key GDP figures from Germany and the euro zone, that people are expecting will lead to euro weakness and therefore potentially further buying opportunities. Myself I am a little more wary and think that todays concerns about Ireland will over shadow these figures.

Also clients should be wary as we come to the end of a very fluid week on the FX markets traders will probably be looking to sell positions and take the profit made. As 60% of the FX markets are traded in the UK I would therefore expect small loses tomorrow and pound forecast to be negative in Friday afternoon trading.

If you are buying or selling a property abroad, have business transactions to carry out or simply need to get money overseas for any other reason and want the best exchange rates, just fill in the form below and one of the experienced traders that write on this blog will be in touch shortly. Alternatively, if you would like assistance in finding your dream home abroad then feel free to visit www.overseaspropertysearcher.com and let one of our property experts make the hunt much easier for you.

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