Monthly Archives: April 2012
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.
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.
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 email@example.com or call 01494 787 478
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!
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 firstname.lastname@example.org
I look forward to hearing from you
GBPEUR had a unexpected shock yesterday with the release of UK GDP data showing that the UK is now officially in recession. Getting the best exchange rate can be achieved by knowing what may happen on the exchange rate, which is where the use of a specialist currency broker is crucial. Having highlighted yesterday’s release to all of my clients selling Euros, many were perched ready to capitalise. The best rates yesterday were triggered at yesterday’s low of 1.2167. By highlighting to my clients who were selling Euros this event and the possibility that it may move things in their favour, they were able to capitalise. Some would have expected that following the UK news the rate could have plummeted but it held firm at 1.2160 (it was at 1.2230 before the release) before making a recovery to 1.2240 by the end of the day.
On a €500,000 exchange this movement above equals a £2353.46 saving! By listening to me these clients saved money. Such activity shows how important it is to be working with a currency broker when looking to make a currency exchange. If you have a currency transfer to make I can quickly explain exactly how using our service works. What I offer is totally free and at no obligation, just make an enquiry using the variety of options on the site!
So will there there be more opportunities like this?
Well yes, there are always opportunities like this. On a daily and weekly basis I will highlight to my clients who are looking to buy and sell Euros (and all the other major currencies) the events that can move the market. Knowing and understanding what is happening on the currency markets can really save you money.
If you have a currency transfer involving selling Euros the outlook is now rather bleak. It looks like pressure will remain on the Euro and the following factors will keep it weak. The uncertainty presented by the French elections, the continued worries over Eurozone debt, the prospect of a deepening and worsening recession and the lack of any growth (or signs of growth) in the troubled economies.
The ray of hope anyone selling Euros had was the prospect of the UK in recession and a weakening pound. This ray of hope was quickly dashed yesterday and I personally can only see the rate going one way in the coming weeks and months. Exchange rates move every couple of seconds and of course it won’t just climb indefinitely in one direction. But I believe the trends and themes I have outlined here will keep the Euro weak and prevent any major advances on sterling. I therefore feel that if you are holding Euros and waiting for a significant move in your favour, you are unlikely to see things go the way you may have hoped.
I must say on Euro USD, the market is now much better for buying Dollars, (worse for buying Euros) mainly because the Federal Reserve announced last night that interest rates could be on hold until late 2014! Late 2014… That is nearly 2 and a half years away and just shows how deep and severe the financial crisis has been. Is the worst even over? EURUSD is sometimes termed the ‘The Two Ugly Sisters’ because it is often a case of which currency is uglier! In this instance depsite the slew of issues affecting the Euro, the continued trouble on the USD is keeping it weak. The Dollar is notoriously unpredictable and with US GDP due Friday, we could see some real swings on all currencies Friday afternoon. Just look at what happened with UK GDP yesterday, a similair shock from the US would have global ramifications.
If therefore you are considering a currency transaction it is really worth knowing all your options and talking to a specialist. I can quickly run through what is happening so that you can make an informed decision about when to trade. I have personally never had any trouble ensuring my clients get the absolute best exchange rates, beating the banks and other brokers. We will always go that extra mile to assist clients who contact us via this site because it is our site and we want it to be the best it can be!
Please feel free to contact me directly on 01494 787 478 asking for Jonny and quoting ERF. Alternatively you can email me on email@example.com
I look forward to hearing from you and making sure you get the best deal
Recent movements on the Euro have been anything but predictable! We have seen rates recently fall to a near 20 month low against the pound but claw back ground against the dollar, but what lies in store for the rest of the week? For those with an interest in the GBP/EUR rates then tomorrow should be viewed with a keen interest. At 09:30 tomorrow morning we have UK GDP data and this will highlight whether the UK is officially in or out of recession. The result appears to be very much on a knife egde with early forecasts suggesting the UK will just keep its nose above water posting growth of 0.1% (this should lend support to the pound). This is too close to call however and should we see negative figures then the UK will be back in recession and I would expect the pound value to fall (good news for Euro sellers). For anyone who is risk averse I would suggest contacting us in advance of this decision to remove the uncertainty from the market, email Mike at firstname.lastname@example.org to get the best exchange rates in the market.
What next for EUR/USD?
The UK is not the only major economy to have an important GDP release. On Friday we too will see the release of the US GDP data and inbetween we have the Federal Reserve releasing their interest rate decision tomorrow evening. Expectations are for interest rates to remain on hold and for a marked improvement in US GDP, should this happen where will the market head? Personally I feel the USD is slightly undervalued and I would expect a move back towards 1.30 in the short term. I also feel the increased confidence the market may get from better US data could lead to a move towards riskier currencies (e.g ZAR, AUD and NZD) and these may well strengthen against the Euro.
Should you wish to discuss the service we can offer in more detail and would like to explore the various contracts we can offer then email Mike at email@example.com and I will happily explain the contracts that we can offer, ranging from Spot, forward, stop/loss and limit contracts.
French elections and affect on the Euro… Plus all the Key things to be aware of on Euro rates this week…
The euro is moving every few seconds and these movements alter the value of your currency purchase. You can see below how movements in the last week would affect Euro rates when buying €200,000 worth of sterling, dollars and Aussies buying at highs and lows:
|Currency Pair||Movement||Difference In Currency|
|EURGBP||1.14% (nr 20 month low)||£ 1880|
Very Important Week on the Currency markets
The sentiment that moves exchange rates can be determined by economic data. This week is one of the busiest I have seen for sometime. Releases include UK GDP (Gross Domestic Product), US GDP, the US Interest rate decision plus the Japanese rate decision and Australian Inflation data. If you are considering a currency transfer now or in the future these events are highly likely to move current levels. To speak to one of our team call 01494 787 478 today. You can ask for myself directly, Jonathan or have a chat with Dan, Colm, Matt, Tom, Mike or Steve. We can all help keep you informed of developments on the markets as well as offer fantastic rates for anyone who contacts us via this site. We have never had trouble beating other companies or banks so why not make a comparison today? Email directly on firstname.lastname@example.org
French Elections – Political Uncertainty weakens Euro
Francois Hollande led the first round of elections this weekend in France, gaining 28% of the vote versus current French President Nicolas Sarkozy with 27%. Socialist Hollande has promised to renegotiate the EU fiscal growth pact (the one Cameron didn’t sign the UK up to last Autumn). The political front and unity embodied by Sarkozy and Angela Merkel of Germany was key to Euro strength. The demise of this front will surely open the door to further Euro weakness, indeed the Euro has weakened overnight and I expect will remain under pressure. The next round is on the 6th May between Sarkozy and Hollande and will surely be attracting much attention in the coming weeks. Merkel had openly backed Sarkozy going into these elections so it will also reflect badly on her ambitions if he does not win this second vote. And another point of interest here. The far right National Front in France won 18% of the vote. With turnout at close to record levels this could be a worrying trend.
Mainstream politics is losing support in Europe as the public lose faith in the Euro project. Is this just a protest vote or a sign of something much more worrying? We predicted this here at ERF many months ago and with Greek elections still to come, could see yet more political uncertainty up ahead. If you would like to keep in touch with live alerts on the currency markets why not contact me directly on email@example.com
Britain’s £10 billion Indirect Loan to Europe
The IMF (International Monetary Fund) have announced an increase in their ‘firepower’ to £247 bn, with the UK contributing £10 bn. Christine Lagarde says that the money is not earmarked for any country but the money will surely end up going to countries in the Eurozone. Is it good money after bad? It is very difficult to justify a £10 billion expenditure with no immediate and obvious returns, in the UK’s current economic climate. This may lead to some euro strength but so far this morning we have seen weakness.
EURGBP Outlook – Is the UK in recession?
Anyone buying sterling with Euros should make a note of Wednesday morning. With all eyes on Wednesday’s GDP data to see whether or not the UK has entered recession, we may see movement today and tomorrow as investors try to second guess the outcome. Friday’s Retail Sales came in much better than expected, boosting further the pound. It is widely expected the UK will avoid recession but the prediction at 0.1% growth allows for lots of volatility if slightly worse or better than expected. To ensure you don’t get caught out, why not speak direct to the trading floor today on free phone 0800 328 5884 (+44 1494 725 353).
The pressure on the Euro as a result of the French elections could easily tip the rate below 1.30 soon. This could be the perfect time for a forward contract, particularly with the Fed Interest rate decision on Wednesday and US GDP Friday. If you are considering any USD trades against the euro or any other currency, this is a really important week. Dealing with us is completely free and at no obligation. Our contracts options allow you to forward book rates for up to two years, and insert stops and limits into the market to make sure your exchange doesn’t become too expensive.
To speak to me about how all of this will affect your rate call 01494 787 478 or email me directly on firstname.lastname@example.org
I look forward to hearing from you
After a turbulent week, which has forced many to question the long-term stability of the eurozone, Friday has seen the single currency regain some ground against GBP and move beyond 1.32 against the USD. This has brought about some much needed respite to its recent slide and European leaders will hope that the domino effect does not continue beyond Spain and become, if it is not already, an un-manageable situation.
The problems in Europe are currently outweighing any of those on our own shore and whilst I do believe that economic data from the UK is improving, it is the well documented problems in Europe and Spain in particular, that have caused GBP to surge over 2 cents in a week against the single currency.
GBP/EUR levels tipped 1.2286 yesterday but at time of writing are fluctuating around the 1.22 mark, proving that a continuing slide is not inevitable. I do believe that the euro will struggle to break back through the 1.20 barrier on current data but with UK GDP figures out next Wednesday, it could be another turbulent week for the GBP/EUR currency pair. Predictions for UK GDP range from positive growth of 0.2% to a negative contraction of -0.3% (If this was accurate then the UK would officially be in another recession), so it is wise to keep one on eye on the markets and ensure you stay in contact with your currency broker if you have any transfer requirements over the coming weeks.
EUR/USD levels have actually been steadily improving over the past week, which is in stark contrast to the economic data coming from each region. This is due in my opinion to the fact that investors have started moving away from the ‘safe haven’ that is the USD, due to the fact that they feel the global markets are steadily improving. This will equate to them taking greater risks on higher yielding currencies like the ZAR, NZD and AUD, with the hope for a higher return from their investment.
If you have an upcoming currency requirement or have any queries about the markets then please feel free to contact me directly at email@example.com or on 01494 787 478 and you will have access to our award winning exchange rates.
When looking to move money internationally the assistance of a currency broker is crucial in ensuring you get not only the very best rates, but are also aware of all the events surrounding your trade which could move the rate for or against you.
Here at ERF we aim to keep things as simple as possible and ensure our clients get all the information they need to make an informed decision on when to trade. Exchange rates move every couple of seconds and daily movements can be up to 2 cents or more, particularly in the current market!
We offer not only the very best rates but also assistance with the actual timing of the trade. The contributions on this site are written by specialist brokers who work for a top broker servicing the currency requirements of thousands of clients. To ensure our clients don’t get caught out we offer a highly personal service to keep them updated on the important events that can move the market.
Are you using the bank or another broker and are unsure if you are getting the best deal? Speak to one of our team to find out more.
You can speak to me directly on firstname.lastname@example.org or call 01494 787 478 and ask to speak to me, Jonathan, quoting ERF.
For those of you that require selling your Euros to buy the pound may be extremely worried about the latest turn of events that is weakening the Euro like there is no tomorrow. At the beginning of this week it was all Euro weakness due to events in Spain sending fears around the global financial markets that they may require a bailout like Greece. The worries with this though is that Spain could actually be far too big to get out of this mess. For that reason the Euro weakened to the worst levels in over 20 months against the pound.
Towards the middle of the week the Euro continued to weaken against the pound but it was more down to sterling strength. The Bank of England (BoE) minutes were released yesterday and it looks like the BoE are starting to shy away from any further monetary easing (QE) In the past when the bank has issued more QE sterling really weakened and this is one of the reasons why over the last 3 years the Euro has been so strong against sterling. Now that the BoE are moving away from QE sterling is rising in value again.
Now looking forward I feel that if you require selling your Euros to buy sterling I can’t see the rates moving back to levels below 1.20. If anything as more issues arise in the Euro zone and investors move out of the Euro you will find that the rate may just head in one direction and i feel this will be the wrong way for you. Potentially we could see GBP/EUR rates of 1.23/1.24
The only small glimmer of hope could be if UK economic data out next week in the form of the GDP figures come out worse than expected. Then you may see a slight retraction in the rates but I feel that this would only open a small window of opportunity to get better levels than where we are currently trading at.
If you are in a position where you have to sell Euros over the next few months I would recommend getting in touch with me to see what your options are. If you are really worried about the rates continuing to go against you can forward buy your currency so it gives you the peace of mind aspect that you will know to the penny how much sterling you will achieve. I can’t stress more that if you do need to sell Euros and are sitting on the funds you should act quickly. The longer you wait I feel the less you will receive in the future so you should seriously consider looking at the rates now. If you have an exchange to make please do contact me as I will always do everything to make you a saving over your bank or any other broker.
You can email me at email@example.com call me to discuss your requirement on 01494 787 478. Just ask for Ben or Quote ERF Ben Amrany and you will be put through to me on the trading floor.
GBPEUR hits 20 month high! Spanish bond auction hasn’t changed the picture… Look out for tomorrow’s UK Retail Sales…
GBPEUR has hit 1.2242 this morning, proving this week’s surge still has weight behind it.
Whilst Spain concerns caused the Euro to weaken at the end of last week, the reason for yesterday’s movement was the pound finding favour amongst investors following an unexpected drop in Unemployment and signs more QE is less likely down the road.
These two factors are the reason GBPEUR has hit 1.22+ (0.8196) in the last 24 hours. So the million dollar question is will it stick? Well if we knew that we would all be millionaires! I would have to say that it does now look like the pound is really cementing gains and it does make it look increasingly unlikely we will start to fall back to the mid teens.
BUT! (there is always a but..) regular followers of the market may notice that the rate was at these lofty heights back in August 2010. Infact we hit 1.2351 then.. But only a few weeks later we were blown back down in the mid teens. Why such a large fall? Well that Summer (much like now) there was renewed confidence in the outlook for the pound and the global economy. Then a wave of bad data hit and there were calls for more QE (we didn’t actually see any for some time after that) which caused a massive sterling sell off.
The spanish bond auction this morning has passed off successfully so far, so if there is no news on this by the end of the day GBPEUR clients should keep an eye on Retail Sales tomorrow at 09.30.
Whilst the rate is looking pretty right now, beware of placing too much confidence in it remaining there. Things can change very quickly on exchange rates and this can seriously affect the value of your transfer. To ensure you do not get caught out why not speak to me or one of the team and we can guide you through the process of moving money internationally. We can not only offer commercial exchange rates to private clients, but through our highly personal account manager service ensure you know all the upcoming events and themes that may move your rate. We will not be beaten on a rate for anyone who contacts us via this blog and we will be more than happy to demonstrate this to you.
To speak to me direct please call 01494 787 478 or email firstname.lastname@example.org quoting ERF and ask to speak to me, Jonathan.
I look forward to personally assisting you
Stronger than expected results from the German ZEW sentiment survey along with significant demand for short-term Spanish bonds yesterday has given the single currency an early boost this morning, particularly against the Dollar but also against the Pound, Swiss Franc and Australian Dollar.
In addition to this, the Spanish 10 year bond yield, which recently spiked above the “comfortable” 6% level is back below that mark – the real test will come tomorrow though when the next tranche of bonds is made available where the Spanish (and the Eurozone as a whole) are desperate for a huge take up.
While investors are likely to be a little nervous about taking up Spanish bonds I still expect to see significant appetite as the 6% return is pretty much unavailable anywhere else right now; this should result in further strength for the single currency and the likelihood of GBPEUR rates moving back towards or below the significant 1.20 mark a distinct possibility.
Having seen the lengths that the ECB went to in ensuring that Greece didn’t default only a few months ago I am left in no doubt that they will do the same for Spain and with that I anticipate the Euro weakness we are currently seeing to be a relatively short term blip. Any readers with either short or medium term Euro requirements should seriously think about the gains that have been made recently and whether or not to take advantage of the significant positive movements.
If you have any questions you would like to ask me, Stephen Hughes, about Euro rates now or in the future or just want to talk about the ways in which I can help you navigate the markets and protect yourself against adverse market movement I welcome your emails to email@example.com.
With Europe’s continuing problems well documented and the UK economy still balanced delicately between contraction and growth, how can we really feel confident about the long-term stability of both GBP and the EUR?
Tuesday morning’s focus has been on the outcome of UK Inflation figures, which were released at 09.30 as predicted. The EUR had seen slight gains last night after a report suggested the UK would only grow by 0.4% this year. When you compare that to countries like China and Australia, who are disappointed if their GDP drops below 8.5%, then you see how far behind these economies we still are.
I do feel that although the UK data has been slightly more positive recently, the reason we have seen GBP/EUR levels spike above 1.21 and hold there is due more to the on-going European saga, which is manifesting itself at present in Spain. Their record unemployment and low growth prospects are hampering the countries’ ability to move forward, which is hurting the single currency.
I do believe we will see huge resistance at 1.22, with levels potentially fluctuating between 1.20-1.22 over the coming weeks. I still thinks this represents an excellent buying opportunity so if you have an upcoming currency transfer please get in touch with me directly at firstname.lastname@example.org or on 01494 787 478 for all the latest market movements and an overview of our various contract types, tailored specifically towards our client’s needs.
The EUR has gained slightly this morning against the greenback, with levels holding around the mid 1.31’. This came off the back of better than expected inflation figures in both the pan-European region and Germany and this has boosted market sentiment.
If you would like to be kept up to date on your various currency fluctuations or have an upcoming currency requirement, then please contact me directly at email@example.com or on 01494 787 478.
GBPEUR has taken a step further towards 1.22, making 1 euro worth almost 82p. These levels have not been seen since August 2010 and are presenting a unique opportunity for Euro buyers that may not last. I am inclined to think this general trend of sterling strength and Euro weakness will continue for the course of the year, but there are of course no guarantees on the outcomes of exchange rates!
I am currently being asked what my thoughts are regarding the rate and I will outline them here, as well as the Four key things to be aware of for any GBPEUR & EURGBP trades (and even USD EUR trades)
1 – The UK’s Economy – Despite recent strength, the UK is far from out of the woods! Look out for Unemployment figures due out Wednesday. A Thorn in the side of the coalition, high unemployment has the propensity to help tip the UK and the pound back into the doldrums. Unemployment has been rising of late. It is also concerning that Growth is still at meagre levels. What will drive this forward in the long term? Don’t forget the UK is still riding on the coat tails of QE earlier this year. We may yet need more! Look out for the Bank of England Minutes, also this Wednesday.
2 – Eurozone Debt – This hardly needs an introduction but it has the potential to drag not only Europe and the UK back into recession, (Europe is the UK’s biggest trading partner) but also the rest of the world. As we here at euroforecast.com have made clear to regular readers for years, the eurozone needs to encourage growth to deal with this crisis. This is not happening and the problems are deepening. This will not translate directly into Euro weakness, the Euro is a vast economic area and at present it is a minority area (in economic terms) that is suffering. The problems may yet still be contained, but only time will tell. If you are praying for a Eurozone collapse or indeed a magic wand to completely solve all the issues, the outcomes are incredibly hard to predict and may not occur in the way you may hope. Beware what you wish for!
If you have any Euro trades (even if many months or years down the line) and would like to keep tabs on how this all pans out you can speak to me on firstname.lastname@example.org to be kept up to date with the latest developements. I personally email a newsletter to all my clients with the latest news so they are aware of all that is occurring in this uncertain and potent market. This service is 100% free and at no obligation, all you need to do is email me asking to be kept informed. It also means that if you do decide to go ahead with an exchange you have a contact at one of the UK’s largest currency brokerages to either check rates with (against your current bank or broker – to make sure you aren’t being ripped off) or to ask for another opinion (if perhaps you have a broker who is being too pushy).
3 – Interest Rates – One of the most overlooked, but key reasons for why the rates are where they are. The Interest rate differential affects the strength of a currency in much the same way a higher interest rate affects bank accounts, i.e a higher rate attracts more investment to that account. With central banks a higher rate will generally speaking strengthen that currency. The European Central Bank have cut their rate twice (in October and November) which is a key reason the Euro is now weaker than the 1.10-1.15 range it enjoyed against sterling last year. It is looking like Eurozone rates will remain at their current 1% levels for the foreseeable, but may need to be cut down the line. For the UK the next interest rate movement will surely be upwards, although no one expects this to happen for at least a year. Mere speculation interest rates will be raised or lowered moves the markets and it is key to be aware of this if considering any currency transaction.
4 – ‘Troika’ Firepower - The Troika is the collective of the ECB (European Central Bank), IMF (International Monetary Fund) and EC (European Commission). The word ‘Troika’ actually comes from Russia and means a sleigh with three parts. In reference to Europe it refers to the fact these three agents are all party (critical) to the outcome. There is still a general concensus on the markets that more will be done to help the weaker nations. The potential ‘firepower’ would basically amount to more unimaginable sums of money being made available to nations that needed assistance. We already have various safety nets in place, but the problem each of these so called solutions overlooks, is that without growth, the weaker nations will continue to rack up colossal debts. Rest assured there is in theory the firepower to hoover up these debts. The question we will all surely be seeing the answer to in the coming months and years is just how politically acceptable such developments are…
I think the pound is going to avoid recession (we will know by the 25th April when the first revision for Q1 2012 comes out) and that the Eurozone crisis will continue to deepen. Sarkozy famously said on the 9th March ‘today the problem is solved’, this is looking like it could become a famously incorrect statement…
If you are looking to make any currency exchanges now or way off in the future, it is worth knowing all your options. As a specialist currency broker I can make sure you know all your options in advance of any requirements to move money internationally, so that there are no surprises down the line. And if there are, at least you know all your options in order to protect your rate.
Our service is completely free of charge and at no obligation, please feel free to get in touch with any questions or queries you may have. I will be happy to personally assist. My personal email is email@example.com