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 firstname.lastname@example.org
I look forward to hearing from you and assisting you soon,
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 email@example.com 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 firstname.lastname@example.org or call 01494 787 478.
I look forward to hearing from you and assisting with the your currency transfers
I think Euro buyers could be waiting a long time for the Euro to weaken… How to maximise your Euro currency exchanges!
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 email@example.com. I look forward to hearing from you
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
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 firstname.lastname@example.org
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 (email@example.com) 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 firstname.lastname@example.org
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 email@example.com
I look forward to hearing from you