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

June 18, 2013   Economic Information, Euro Strength, euro weakness, Media Quotes, The Week Ahead

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

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When will the Euro weaken?

June 12, 2013   Economic Information, Euro Strength, euro weakness, Media Quotes, The Week Ahead

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 

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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!!!

June 5, 2013   Economic Information, Euro Strength, euro weakness, Media Quotes, The Week Ahead

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

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

June 3, 2013   Economic Information, Euro Strength, euro weakness, Media Quotes, The Week Ahead

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

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I think Euro buyers could be waiting a long time for the Euro to weaken… How to maximise your Euro currency exchanges!

May 29, 2013   Economic Information, Euro Strength, euro weakness, Media Quotes, The Week Ahead

When will the Euro weaken is a very good question. Unfortunately for Euro buyers it is not likely to be anytime soon!

Underlying confidence and Euro strength is the result of Mario Draghi’s commitment to guarantee the debts of Eurozone members. This means despite the protests in Greece, despite the rising Unemployment in Spain (which are of course all bad for the Euro), investors have lots of faith in the Euro project and will keep investing there.

If you are buying or selling a property abroad it is very important to beware of exchange rate fluctuations and make provisions for exchange rate movements. Neglecting to seriously consider the negative effect exchange rates can have can grossly affect the value of the property you are buying or selling.

Last year buying a €500,000 property at the best rates (1.28) would have cost £390,625. Today at the best rates (1.17) the same property would cost you £427,350.42, a difference of £36,725.43. This works the other way round too and means anyone selling a property in Europe and converting back to pounds is getting a much better deal than they would have last year. Considering most sales are agreed many months in advance it is a very good time for Euro sellers to be entering the market.

Even a small difference in the rate makes a huge difference on the currency you receive. For example if you were selling €100,000 following a property sale, just a one cent improvement at current levels would result in an extra £736.81. Considering most days we see around around 1 cent movement on exchange rates, timing your exchange throughout the day can result in big differences in how much currency you receive.

Lately the Euro has strengthened and the pound weakened which is presenting a very good opportunity to sell Euros for pounds. If you are looking at this kind of transaction rates may improve by a small amount in the coming days and even into next week. If you would like to learn more about the forecast for the euro for the next few weeks and months please feel free to contact me for information and assistance on how to save money on your currency exchanges.

This blog is written by currency experts who work every day assisting clients who need to make a currency exchange. On sums of a few thousand to multi million transactions, we offer expert advice and guidance to assist with the best deals.

For more information please contact me Jonathan on jmw@currencies.co.uk. I look forward to hearing from you

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Rates improve for Euro sellers, GBP weakness

May 22, 2013   Economic Information, Euro Strength, euro weakness

A run of poor data for the UK has created some excellent conditions to sell Euros for GBP. The rate is currently at a 4 1/2 week high for selling euros versus pound sterling. It is possible rates may even get better of the UK data continues to disappoint.

Tomorrow we have UK GDP (Gross Domestic Product) which is the first revision of last months data. The expectation is for no change but it is possible that we could see the pound suffer further if it is bad news. The recent GBP Strength has been underpinned by the better GBP news, if this turns out to be incorrect, it is likely the pound will suffer.

Friday we have German business confidence and GDP data which may well be a market mover on the euro. If you have been holding back waiting to see better levels to sell euros for GBP, this may be the opportunity you have been waiting for. The longer term expectation on the exchange pairing remains Euro weakness, GBP strength. This is why many businesses and those selling property in Europe have been forward buying to take advantage of the improvements.

If you are looking to get the best deal on your currency exchange or just learn more about what will affect your rate in the future, please contact me Jonny directly. I work as a specialist foreign exchange broker and can help you move money internationally at a much better rate than via your bank or other sources. To learn more or for a free, no obligation comparison please contact me directly for more information.

I look forward to hearing from you and assisting with the best deal

jmw@currencies.co.uk

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Will the Euro go back to 1.50 or even 1.60 one day?

May 20, 2013   Economic Information, Euro Strength, euro weakness, The Week Ahead

GBPEUR hit a high point some years ago touching over 1.60! This high point then dipped into the 1.50′s and once the financial crisis hit the UK, the pound crashed and GBPEUR with it. The rate dropped from 1.48616 in August 2007 to 1.2326 one year later. And then by December of 2008 we hit 1.02, the lowest ever recorded… Good for sellers, bad for buyers.

Predicting these kind of moves is impossible and there is no doubt the events that unfolded were unprecedented. Having said that nothing should ever be taken for granted on exchange rates and despite the improvements on exchange rates generally these kind of events could easily play out again. Confidence has been restored lately but it is very fragile. The Eurozone is in a recession and it is difficult to see how it will get out anytime soon. As explained in my previous post this could damage sterling so if you are buying Euros beware of holding out for major improvements as it could easily go the other way.

If you are considering an exchange and would like more information on how to secure the best rates and all of your options please contact me Jonny on jmw@currencies.co.uk

Looking to this week there are some potentially interesting events which Euro buyers and sellers should take not of. This includes the EU Summit on Wednesday where ECB speakers will perhaps give some indications on future policy. Thursday we have flash economic surveys for the Eurozone which could affect short term rate movements and then Friday German business confidence and GDP data. There is also a fair amount of UK data this week which means the rate could get better for Euro buyers on Wednesday, better for sellers on Friday.

Until the Bank of England in the UK raises the interest rate, sterling will struggle. The BoE are unlikely to raise interest rates for some time, the earliest would be next year. If you are holding out hoping for 1.50 or 1.60 it could be many years, some would question whether it would ever get there again. More realistic for Euro buyers is 1.20, although 1.19 is proving enough of a challenge!

If you are buying or selling a property, buying or selling Euros for business or making currency transfers for any other reason, a better deal could literally save you thousands. For a free, no obligation discussion of your transfer and all of the options available to secure the best rates please contact me Jonny on jmw@currencies.co.uk.

Thank you

Jonathan

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Currency transfer to consider soon?

May 17, 2013   Economic Information, Euro Strength, euro weakness, Media Quotes

Finally rates for clients buying Euros have improved. If you are buying Euros we are back at the best levels since January to be considering an exchange. Buying €200,000 is now some £5963 less costly than it was a couple of months ago.

Unfortunately this is not likely to continue in the coming weeks with added pressures on the pound and euro confidence returning. All too often those buying Euros think just because Greece or Spain is in the headlines that will translate into better rates on the Euro. This is not the case!

Why is the Euro so strong? Last year if you were looking to buy Euros for a property purchase you were probably budgeting on a rate of at least 1.20, more likely 1.25. Since that time confidence has returned to the Eurozone and Euro buyers are faced with rates today of 1.18.

There is confidence in Europe because of the belief that the ECB (European Central Bank) will do whatever it takes to help the countries that are in trouble. By offering to purchase the debts of Greece and Spain the ECB has give the market confidence. This major step last year has given markets confidence to invest in Europe and helps to explain why the Euro is strong.

The pound is still very weak and it may get worse! The UK has always relied on a strong global economy to create growth. From the days of the Empire to today, Great Britain needs people overseas willing to spend money on it’s products and services. The Eurozone being in recession is not good for Britain who relies on European orders to help the Manufacturing Industry.

The main driver on the Euro last year was the prospect of Greece or even Spain leaving. This has not materialised and is highly unlikely too as the ECB are now backing up the weaker nations. Problems in the Eurozone will continue to hit the headlines but I would not expect any moves above 1.20. If you have a requirement to buy euros in the short term I believe you are looking at an excellent opportunity at current levels.

If you are selling euros to buy another currency we could easily the rate improve slightly in the coming weeks depending on how the economic data comes out. All of the bad news is quite clearly in the market for the euro so we could see some profit taking in the short term which would help. If you are considering an exchange an understanding of what is driving your rate is crucial to helping you to achieve the best price. For the best rates and professional service or any information relating to moving money internationally at a good price, please feel free to contact me Jonny directly jmw@currencies.co.uk 

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Breaking News! Euro gains against sterling as threat of EU referendum hammers the pound

May 13, 2013   Euro Strength

As the saying goes if you stick head above the parapet, prepare to be shot! Thank you to the readers getting in touch with me (jmw@currencies.co.uk) highlighting the dip in euro rates, retreating back to the higher 1.17′s…

It appears there is growing discontent among Tories relating to the EU referendum. This political uncertainty has today caused some GBP weakness. Just shows you cannot take anything for granted!

For more information on what drives your rates please contact me jmw@currencies.co.uk

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Will GBPEUR hit 1.20 soon?

May 13, 2013   Euro Strength

The rally on GBPEUR has faltered in recent weeks with significant resistance at 1.19. Anyone selling EUR to buy GBP upset they missed out on rates a few weeks ago should really take stock of the current market as it is likely rates will only get worse for sellers. I think it is surely only a matter of weeks or months before we hit 1.20 again…

The ECB may cut rates lower and the pound strengthening in recent weeks having avoided the triple dip, means the forecast on the GBPEUR rate is it will move higher towards the 1.20 level.

I would therefore suggest anyone buying Euros holds to see if things get better, whilst those selling Euros may wish to move sooner. Ultimately for both buyers and sellers there will be spikes to take advantage of and this is where our service comes in. We can highlight movements in and out of your favour as well as highlight future events which may move the market for you.

For more information on news and events that will impact your exchange rate, please feel free to contact me. Even if your transfer is just a one off our specialist service is designed to save you money through a better rate than the banks. For more information on what we can achieve and how it all works please contact me Jonathan directly on jmw@currencies.co.uk 

I look forward to hearing from you

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Has the pendulum swung too far for euro strength? Thursday will be key…

April 30, 2013   Economic Information, Euro Strength, euro weakness, Media Quotes

One of the most common questions I am asked is why is the euro so strong? Daily we hear new bad news from Europe concerning the economies using the euro. Lower growth forecasts, rising unemployment rates and uncertainty as to exactly how all of these problems will be dealt with, receive much media attention everyday.

The reasons for euro strength are quite simply the fact that there is a belief the problems will be worked out. The eurozone as a whole is a massive economy and investors are confident that in the future conditions will pick up and the economies will return to growth. This belief has been epitomised by Mario Draghi, President of the ECB (European Central Bank) who has declared everything will be done to save the euro.

That ‘belief’ came back to the market 7 months ago when he made a speech in London using carefully chosen words. The euro which had been in free fall against all currencies quickly found footing and the ‘belief’ became self fulfilling as lowering bond yields for Spain and Italy encouraged more investment into Europe.

This Thursday is shaping up to be a very interesting day and may be the day that finally the pendulum of euro strength begins to swing in the other direction. Worrying unemployment number in Spain (getting worse) suggest much worse could soon be on the cards for the euro. The Interest rate decision Thursday is when we may finally see confidence falling for the euro. Investors patient for the last 7 months may soon start to become concerned at the lack of progress and the deteriorating problems.

It is unlikely the euro will break up in my opinion, in the short term at least. However the rise of anti austerity and extreme parties in politics is a dangerous trend that will soon surely manifest in weakness for the euro.

If you are planning a transaction involving the euro keeping up to date with the latest news could be key. As specialist currency brokers we offer guidance on the best time to transact currency exchanges, plus a commercial rate when you do so. For more information on how using our services works (even if it is just a one-off) please contact me Jonny directly on jmw@currencies.co.uk

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Important week for anyone considering buying or selling euros? Will the ECB cut rates?

April 29, 2013   Economic Information, Euro Strength, euro weakness, Media Quotes

Once again we have a week with a piece of data for which there is uncertainty as to an important decision. This is important because it makes it very difficult to predict what will actually happen and henceforth if you are considering a transaction buying or selling euros you could get caught out.

Last week on Thursday the UK GDP (Gross Domestic Product) data showed us that the UK was not in a recession. This caused the pound to soar by a cent and a half on the euro which was already weakened due to poor unemployment figures.

This week is important because on Thursday the European Central Bank (ECB) may consider cutting their base interest rate. The prospect of a cut caused the euro to weaken this month and there is a fairly good chance we could see on this Thursday.

Why is an interest rate cut important? An interest rate cut weakens the currency concerned. Much like a higher or lower interest rate on a bank account will attract or detract investment, the prospect of lowering or raising rates by a central bank typically weakens the currency concerned.

So.. If the ECB cut rates we could see the euro weaken. This possibility has been slightly priced into the market but if it does happen, we could see the euro weaken by as much as two cents. If the ECB do not cut rates then the euro will probably strengthen against the pound and dollar by a cent or so, maybe more.

Getting the best deal on your foreign exchange transfers is no easy feat but you can give yourself an upper hand by making sure you are well informed. As a firm of specialist foreign exchange brokers we can offer guidance on what is happening in the market and steps you can take to ensure you don’t miss out.

Compared to last year the euro is trading at excellent levels against sterling despite recent developments. And on the flipside it has recently been the best time to buy euros since January. This week’s data could easily change the current situation so if you would like to find out more about of all of your options, please contact me Jonny directly on 01494 787 478. Or you can email me on jmw@currencies.co.uk 

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