Monthly Archives: June 2013

Where next for Sterling/Euro? (Ben Amrany)

Yesterday GBP/EUR broke through 1.18 for the first time since the end of April. Over the course of the last 24 hours the pound has come crashing back down to 1.1680.

Comments from the president of the ECB Mario Draghi slightly weakened the Euro yesterday morning when he highlighted risks to Euro zone growth.

The worrying thing for Euro buyers with sterling, is that Draghi went on to add that with the Euro being a recession hit economy with rising borrowing costs for debt struggling nations they are nowhere near exiting its accommodative monetary policy. Why I say this is worrying is because the Euro has once again weakened against the USD but not the pound. What will happen when positive comments come out of the Euro zone?

Events in the UK where the BoE Governor Mervyn King in his last Financial Stability Report gave a warning that Britain’s banking sector and borrowers remain vulnerable to any increases in global interest rates has ordered an investigation into the vulnerability of Britain’s financial institutions and borrowers to higher interest rates. This has contributed to the pound weakening.

Sterling hit a high of over 1.1906 at the end of April and over the last two months we have seen a decline at one stage by around three cents. When the pound eventually comes out of this range bound will we see the rate move back above the 1.20 level or test the lows we witnessed this year of 1.13? With pressure to remain on sterling I feel that further declines could be around the corner once the new Governor of the Bank of England comes into force in July.

If you are looking at buying or selling the Euro and would like to know more about the rates that we offer then please feel free contact me at bma@currencies.co.uk I offer all of my clients a very personal service and if I know what your requirement is I can explain the options that may be suitable for your own specific circumstances. Thank you for reading. Ben Amrany

 

Sterling Euro Rate Forecast (Tom Holian)

With Wimbledon now in full swing and the sunshine appearing in the UK, at least for this morning, Sterling Euro exchange rates have remained fairly stable and range bound since early May. UK Data in the form of UK GDP figures are published this morning at 930am with growth of 0.3% expected so any variation on this figure could see exchange rates move following this release.

Yesterday head of the ECB Mario Draghi made comments that saw Sterling Euro exchange rates break through 1.18 but only lasted a short period of time. With the Euro weakening this has seen investors move funds over to the Dollar as a safer haven and seen GBPUSD rates drop to below 1.53 during yesterday’s trading session.

Mark Carney is due to take over as Governor of the Bank of England and next Thursday he will release the MPC’s interest rate decision for the UK. It seems that since his announcement the currency markets in terms of Sterling vs Euro have held their breath in anticipation of what his style of policy for managing the UK will be.

If you are thinking of making a currency transfer and want to ensure you are getting better exchange rates than by using your bank feel free to contact me directly by email Tom Holian teh@currencies.co.uk

 

Is now a good time to sell euros for pounds? It is often the greedy who get their fingers burnt!

Good afternoon readers!

And how good to see some blue skies today over the UK and North Western Europe! Unfortunately the weather like some rates have not exactly been up to par but of course things can quickly change.

This week is a fairly dull week on the economic data front but you should not take things for granted. Important economic information includes UK GDP and a couple of reports by the Bank of England. I would not expect any changes in policy and even if there are hints, it is likely everyone will wait for next week.

Something more important to beware of on exchange rates is the fact it is the end of the month and quarter which means you could see lots of volatility on the market as traders reconcile any open positions. Predicting what this may be is nigh on impossible but we did see moves of over a cent higher for the euro at the end of March as this type of activity caused swings on the market.

Next week is shaping up to be a very interesting week indeed! Will Mark Carney look at measures to weaken sterling? Will the European Central Bank cut interest rates? The start of the week also sees a whole host of new fresh economic data from all over the world to give us new evidence as to how the respective economies are performing!

 

Luckily if you have a transfer to make soon, you don’t need to read every economic report to make a decision. Here at ERF we aim to keep our clients up to date on the latest developments and things to beware of when making a currency exchange. if you are considering an exchange why not contact me on jmw@currencies.co.uk and I can make sure you have all the information you need to proceed with the best deals.

As the UK’s leading independent foreign exchange brokerage we are positive we can offer an exchange rate that will save you money, hence our awards from the Times and Telegraph.

If you have a transaction you are looking to undertake in the coming weeks and month a bit of forward planning could well save you money. For more information at no cost or obligation, please feel free to contact me Jonathan directly on jmw@currencies.co.uk

I look forward to hearing from you and helping you save money on your transfers.

Thank you,

Jonathan

Sterling up against the Euro following better retail sales

Sterling exchange rates rallied over 1 cent against the Euro following better than expected retail sales figures this morning. UK retail sales recorded a larger-than-expected rise last helped by a strong increase in food sales as sales rose 2.1% in May from the month before, and were up 1.9% from a year earlier, according to the Office for National Statistics (ONS). This news pushed the pound above 1.17 and paints a better outlook for the UK and future GDP.

This all bodes well for the new Bank of England Governor Mark Carney who officially takes up his role as head of the central bank in July. Carney has helped create a sustained period of growth as the head of the Bank of Canada. Next month will be interesting to see what impact he has, will he look to impose himself and extend QE? Today’s results and more positive figures may suggest that he holds off, for now. I for one feel he will look to extend QE within the next 2-3 months and for this reason feel any trades in the region of 1.17/18 should be viewed as an opportunity for Euro buyers.

As a specialist foreign exchange broker we have multiple contracts at our disposal to help maximise clients foreign exchange. Should you you be a private or corporate client and have a foreign exchange requirement then please get in touch. Our job is simply to help our clients make the most from their money exchange making significant savings when compared to the high street banks. To find out more about the money exchange service we provide then please contact the office on 01494 787478 or email mgv@currencies.co.uk

 

Pound Euro Forecast (Tom Holian)

UK Retail Sales are due out later this morning at 930am with strong figures expected. The expectation for year on year is 0.2% so much more of a difference could lead to Sterling volatility this morning. Later this afternoon European Consumer Confidence figures are released and my feeling is that the data will come out low as Europe has been struggling of late leading to a loss of confidence. We could see a weakening for the Euro shortly after this data set.

Last night Mervyn King made his last speech as Governor of the Bank of England and spoke about the UK potentially needing more stimulus as a recovery is still not fully assured. Sterling fell marginally against the Euro but as he is leaving shortly the markets didn’t over react too much to the news.

If you have a currency requirement to make shortly and would like a free quote feel free to email me directly Tom Holian teh@currencies.co.uk As one of the UK’s leading currency brokers I’m confident we can save you money compared to using your bank to buy Euros or sell Euros.

Euro rate Forecast – Will the Euro remain this quiet for long?

The Euro is enjoying a period of relative calm at present which is surely not going to last. Attention is currently focussing on the United States and whether or not we will witness further QE in the future. Whilst domestic demand in the US is improving it may be the decreasing demand from Europe and China which ultimately will lead to the injection of more QE.

The outlook in Europe is very much negative and the main reason the rates have not majorly trailed off is the belief and confidence Mario Draghi and the ECB will do ‘whatever it takes’ to ensure stability. The bad news is firmly out in the market and this is preventing further losses. I think however you would struggle to find many who expect the euro would not weaken again at some point in the future.

If you are selling a property overseas or are a business who will be receiving payments in euros in the coming months, it may make sense to book your currency rates in advance. Current Euro to GBP and Euro to USD exchange rates are very attractive based on historical levels.

If you have a currency transaction to consider involving the Euro or indeed any other currency why not make a free enquiry with us? As a firm of specialist currency brokers we seek to achieve the very best rates in the market and ensure you don’t miss out if markets move against you.

For a free, no obligation discussion of everything involved which may affect your rates, even if your trade is just a one off or well in the future, please contact me Jonny on jmw@currencies.co.uk 

I look forward to hearing from you and assisting you soon,

Jonny

When will the Euro weaken?

The Euro is remaining strong despite mixed data of late. Germany has been enjoying better than expected economic data but the overall economic picture in the eurozone remains bleak. This is bound to at some point cause further euro weakness but for now investors attention is very much on the global outlook and trying to second guess the Federal reserve in the US.

When should I sell Euros? If you are holding euros (or will soon be) following a property sale overseas now is an excellent time to seriously think about converting to GBP. The pound has been strengthening in recent weeks and despite having almost as equally a worrying economic outlook as the eurozone, should remain bouyant and avoid excessive selling.

Selling Euros for USD or GBP is currently worthwhile as surely the Euro is bound to weaken in the future. Against sterling we are historically at excellent levels, yes it has been better but it is impossible to get the top or bottom of any market. I think if you are selling euros it is worth weighing up the huge improvements since last year versus the high chance at anytime the wrong headline could send rates soaring back to last year’s levels!

Our specialist service is designed to personally assist you achieve better rates on your foreign exchange transfers. No one can tell you exactly what will happen in the future but by and large, better informed clients make better decisions and save money.

I hope you like our site and look forward to hearing from you

jmw@currencies.co.uk 

Euro staying stable against Pound and Dollar – Australian Dollar, New Zealand Dollar and South African Rand continue to weaken (Daniel Wright)

The Euro has remained stable against Sterling over the past few days however we have recently seen key Eurozone leaders becoming much more bullish about the recovery of the Eurozone with many now starting to say the crisis is over.

Personally, I would be extremely surprised not to see any further fireworks for the more troubled economies within Europe however this positive stance may well lead to a little Euro strength in the coming weeks.

We have the ECB monthly report out on Thursday which will tell us a little more about how things are going but personally I do not see any major movements this week against the pound or the Dollar unless U.K or U.S data comes out completely different than expected.

If you have a currency transaction to carry out involving either buying or selling the Euro then I can help you get the very best exchange on the market – The company I work for has won awards for exchange rates and customer service so it is certainly well worth getting in contact with me if you have a pending currency requirement. You can email me on djw@currencies.co.uk I look forward to hearing from you.

Sterling Euro Exchange Rates Today (Tom Holian)

Sterling Euro has remained in a tight trading range today as data is limited. Tomorrow is the day where we’re expecting a little more volatility on the currency markets as the UK releases production data for both Industrial & Manufacturing sectors. Later in the afternoon the NIESR publishes its GDP estimate which is likely to influence the markets. With the recent release of positive data for the UK I would not be surprised to see this continue tomorrow and therefore push Sterling Euro requirements in an upwards direction.

The ECB has recently cut its own Eurozone growth forecast as it confirmed it would keep interest rates on hold at record levels on Thursday. The ECB has now predicted that the Eurozone will contract by 0.6% this year but it did insist that recovery albeit slow will occur in 2014. This has seen Sterling improve marginally against the single currency with the GBPEUR hitting levels of resistance at 1.1780.

If you need to make a currency transfer and want to ensure you are getting competitive exchange rates feel free to contact Tom Holian teh@currencies.co.uk

If you are buying property abroad but don’t need to make a currency transfer for a few months you may to consider buying a forward contract so for a more detailed explanation as to how to secure your currency in advance get in touch teh@currencies.co.uk

Bank of England & European Central Bank Keep Interest Rates on Hold (Matthew Vassallo)

Thursday has seen some major moves in the currency market, following a busy day of economic data releases. The EUR seems to be holding on for dear life against the Pound at the moment, although we have seen GBP find a lot of resistance around 1.18. In contrast however the single currency has surged against the USD, moving over 2 cents from the low of the day and providing USD buyers with some of the best levels on the currency pair this year.

Today’s key data for anyone with a EUR requirement, was the European Central Bank (ECB) interest rate decision and Mario Draghi’s subsequent press conference. As expected interest rates were kept on hold and there was no mention of further monetary policy. Whilst the Pound may be enjoying its run against the EUR at present, I do believe the arrival of incoming BoE governor Mark Carney could change the landscape dramatically. There is a lot of talk that he will be instigating aggressive rounds of Quantitative Easing (QE), with the hope that it will devalue the Pound enough to get the Eurozone trading with us again and in turn this should shorten our trade deficit and improve the overall health of the UK economy. For this reason I would suggest anyone looking to buy EUR should consider their positions imminently and those looking to sell should be keeping their eyes firmly fixed on developments over the coming weeks.

Here at www.eurorateforecast.com we are able to provide our clients not only with award winning rates of exchange but a bespoke service designed to give you the client, as much insight into the markets as possible. If you would like to find out the type of rates or contracts we offer, or need to be kept up to date with all the latest market movements, then please call us on 0044 1494 787 478 or email me directly at mtv@currencies.co.uk.

How do I know I am getting the best exchange rate on GBP to EUR and EUR to GBP? Make a totally FREE comparison with us!!!

Simply email me on jmw@currencies.co.uk or call 01494 787 478 and ask to speak to me Jonathan quoting ERF. We undercut banks by up to 5% and other brokers by anything from a quarter of a cent to one or even two cents. The Euro has come under renewed pressure which means the market for sellers could easily get much worse in the short term. I expect the mid market price to be over 1.18 by the end of this week.

Foreign exchange is big business. In fact trillions of pounds and euros is traded everyday. This encompasses everything from changing small bits of cash for holiday money to central banks diversifying their foreign exchange holdings to negate risk.

Seeking out the best deals on bank to bank transfers can therefore be quite confusing. The Industry I work in has been flooded in recent years with many currency firms purporting to offer the best deals but whilst saving you money versus the banks, do not actually get the best price.

We set this site up to help people plan their transfers in and out of euros. As specialist currency experts trading the markets every day we know what moves the markets and can offer insight into where rates will go. and behind that because of the multi millions we trade on the markets, we can offer you a better rate than other options.

For every extra quarter of a cent I can save you on €250,000 at today’s prices you are getting about an extra £450. I think most people would agree that is worth a quick phone call or email!

From your first contact you can be booking a deal in minutes and we offer same day payments. For more information on this deal plus anything remotely euro related, please contact me directly!

jmw@currencies.co.uk

+ 44 (0) 1494 787 478

Please ask to speak to me Jonny quoting ERF

How do I know I am getting the best deals on pounds for euros? Speak to us!

Foreign exchange is one of the most overlooked areas of foreign property. All too often both buyers and sellers alike will go to great lengths to negotiate the price and fixtures or fittings of a property then neglect to consider the impact of foreign exchange fluctuations.

I think this week will bring some good news for Euro buyers, bad news for Euro sellers. I expect that the pound will find some strength and the Euro will weaken as attention turns back to the problems in the Eurozone.

For too long now rates have been strong and whilst I have written a great deal about why this is the case (to read more click here), I do think rates will get a little better in the short term for Euro buyers.

Here at eurorateforecast.com we are specialist currency brokers writing about the market offering you an opportunity to maximise your currency exchange. We help save you money using two methods:

1 – We can beat the rates of exchange offered by banks and other brokers. You may be happy with the current deal you receive but a quick phone call or email to us would probably save you money! If you are sceptical and would like more information all you need to do is email jmw@currencies.co.uk or call 01494 787 478 and ask to speak to me Jonny.

2 – We offer assistance with the actual timing of your exchange. Our personal proactive service means we take the time to learn the client’s requirements and work hard to ensure they don’t miss out on the best rates and latest news.

GBPEUR has already improved for Euro buyers this week and I would not be surprised to see it improve by up to another cent or two this week.

If you have a transaction to consider and would like more information on all your options and how to get the best rates of exchange please contact me Jonny directly on jmw@currencies.co.uk or call 01494 787 478.

I look forward to hearing from you and assisting with the your currency transfers