Euro Rate Forecast

Currency experts forecast on the Euro

Is Brexit going to plan and the impact on the Pound vs the Euro?

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After hitting the best rate to buy Euros with Pounds since mid 2017 earlier this week the Pound has once again come under some pressure overnight after the latest Brexit discussions in the House of Commons.

MPs voted 317 to 301 in favour of changing the Irish backstop arrangement which is the deal aimed at avoiding a hard border in Ireland if we crash out without a deal.

However, it appears as though the European Union are in no mood to re-open negotiations and this is why we have seen the Pound slip back against the Euro.

Indeed, European Council President Donald Tusk has claimed that ‘the backstop is part of the withdrawal agreement, and the withdrawal agreement is not open for renegotiation.’ There have been mixed comments from the leaders in Europe with Irish Foreign Minister Simon Coveney saying that the Irish backstop is ‘necessary’ even after the vote last night.

However, the vote last night means that at the moment the withdrawal from the European Union is still due to take place by the 29th March and this is why the Pound has fallen against a number of different currencies overnight.

Yvette Cooper’s amendment to delay Brexit if a no deal happens was rejected and this increases the chance that we may still be forced to leave by the end of March.

Personally, I think there is still time to keep on negotiating as the European Union clearly also wants to avoid a no deal Brexit but with the clock ticking this is keeping the pressure firmly on Sterling.

In the short term I think the Pound will continue to struggle to make any real gains so if you’re in the process of sending money to Europe it may be worth getting something organised in the near future.

I have worked in the foreign exchange industry since 2003 and I am able to offer you bank beating exchange rates so if you have a currency transfer to make and would like to save money when buying or selling Euros then contact me directly for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

Tom Holian
Having worked in the foreign exchange industry since 2003, longer than some of today’s currency brokerages have been in business, Tom draws on his considerable experience of the currency markets when writing his Euro exchange rate forecasts.

Pound Euro Rate Forecast: Pound hits highest level since November against the Euro (Tom Holian)

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The Pound has hit its best rate to buy Euros since mid-November and Sterling continues to make some very positive headway against a number of major currencies.

UK employment figures published earlier this week showed a very strong figure with the data the best in over 32 years for the UK. Many concerns still exist over the potential of what will happen with the Brexit talks in the next few weeks but clearly the jobs market is managing to remain very strong at the moment.

With MPs having voted down the most recent Brexit deal on offer early last week by a majority of 230 votes, it appears as though whatever Theresa May is able to negotiate in the short term will not get voted through by the House of Commons.

This is the reason for the Pound’s improvement against the Euro as it appears as though the likelihood of a no deal Brexit is minimal and the chances are that we could see Article 50 being extended and this has been taken well by investors in the Pound.

Ex-Chancellor George Osborne has claimed that delaying the UK’s exit from the European Union is now the most likely option to happen and this is why the Pound has improved which is good news for anyone looking to buy Euros at the moment.

Poor Eurozone economic data negatively impacts the Euro

This morning we have already seen some mixed data from Germany, which is the powerhouse of Europe. German Services data showed an improvement but Manufacturing data showed a fall. This was also compounded with the news from the Eurozone that Services and Manufacturing has fallen in the bloc and this is why I think we could see GBPEUR exchange rates hitting 1.15 during today’s trading session.

This afternoon the European Central Bank will publish its latest interest rate decision and any suggestions by ECB President Mario Draghi that the Eurozone is under pressure could be another catalyst for sending the Pound upwards vs the Euro.

I have worked for one of the UK’s leading currency brokers for 16 years and I’m confident that not only can I save you money when buying Euros but also help you with the various options available to you.

If you would like to save money compared to using your own bank or currency broker then contact me directly for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Tom Holian
Having worked in the foreign exchange industry since 2003, longer than some of today’s currency brokerages have been in business, Tom draws on his considerable experience of the currency markets when writing his Euro exchange rate forecasts.

Troubled times for the Pound against the Euro with Brexit stalemate (Tom Holian)

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The Pound has experienced one of the most volatile weeks of the year so far moving by over 3 cents from the high to the low or the difference of £2,300 on a currency transfer of €100,000.

The week started off badly for the Pound when Theresa May announced that she had delayed the Brexit vote after it appeared as if there was not enough support to get it through parliament.

At the moment it appears as although the UK has decided in favour of a Brexit this will be extremely difficult to get this through parliament no matter what the deal could end up looking like.

On a number of different occasions Prime Minister Theresa May has spoken about her commitment to leading the UK towards Brexit and although she survived the vote of no confidence on Wednesday I think her days are getting closer to being numbered.

The European Court of Justice has suggested in a couple of recent statements that the UK can actually revoke Article 50 at any point before the 29th March 2019 and if they decide to do it then I think the likelihood is that Theresa May will end up resigning as she will have failed to lead the UK towards Brexit.

Yesterday, Theresa May was once again meeting with officials but any suggested changes to the current deal have not been offered so it looks as though the deal is again at a stalemate. The next big date for the Brexit will come on 14th January when the next vote is planned.

The Pound has been trading in a relatively tight range this morning and with little economic data due out today I think it will be the political news that will dominate what will be happening to Pound Euro exchange rates in the run up to the end of the year.

Having worked in the foreign exchange industry since 2003 for one of the UK’s leading currency brokers I am confident that I can offer you bank beating exchange rates as well as helping you with the timing of your currency transfer.

To find out more or for a free quote then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Tom Holian
Having worked in the foreign exchange industry since 2003, longer than some of today’s currency brokerages have been in business, Tom draws on his considerable experience of the currency markets when writing his Euro exchange rate forecasts.

Pound to Euro Forecast – Are the Brexit talks concluding?

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The Pound has so far this month experienced a lot of movement against the Euro touching 1.15 on a couple of occasions before briefly dropping again.

The Pound to Euro exchange rate is being massively driven by the Brexit talks and with the sentiment having been shifting between positive and then negative recently this has been the reason for the volatile movement so far during November.

Up until last Friday morning the talks were going the right way but then Transport Minister Jo Johnson announced his resignation and his reason given was that he was not happy with the current Brexit proposals being offered.

Indeed, he even went on to say that he thinks the UK should hold a second referendum but clearly under Theresa May’s stewardship this will not happen as she has confirmed on a number of occasions previously.

Over the last couple of days the Pound has been edging up against the Euro as the talks are getting closer to concluding. Theresa May has even claimed that although the talks have been very tough the UK and the European Union are in the ‘endgame.’

Today, Theresa May will be meeting with the Cabinet at Downing Street to discuss the current plans and suggest the best way to sort out the Irish border issue.

According to some sources a deal will need to be done in the next twenty four hours if we are due to have another EU summit so depending on how today goes this could have a big impact in the short term value of the Pound against the Euro.

If the talks go well this will presumably allow for another EU summit to take place which means getting closer to the Brexit talks being concluded. Time is clearly running out so the pressure is mounting and Brussels will only hold the summit if an agreement can be reached on the Irish border issue which remains the key sticking point.

Having worked for one of the UK’s leading currency brokers since 2003 I am confident of being able to offer you bank beating exchange rates so for a free quote please email me directly or call me on 01494787478.

Tom Holian teh@currencies.co.uk

 

Tom Holian
Having worked in the foreign exchange industry since 2003, longer than some of today’s currency brokerages have been in business, Tom draws on his considerable experience of the currency markets when writing his Euro exchange rate forecasts.

Jo Johnson’s resignation and the impact on the Pound vs the Euro

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The Pound vs the Euro has hit its best rate to buy Euros since the end of May during Friday morning’s trading session but since then we have seen Sterling retreat from those highs against the single currency.

The brother of Boris Johnson, Jo Johnson has announced his resignation after disagreeing with the current Brexit proposals put forward by Theresa May.

He argues that they are not in the interests of the UK and the only way to stop this from happening is to hold a second referendum, something which will not happen under Theresa May’s stewardship.

He wants the UK to ‘pause and reflect’ before continuing with the current plans as he believes this is not in the public’s interest and it could cause ‘chaos’ if the UK leaves without a deal.

As Johnson is such a popular character in the Tories his resignation has divided the party and he now becomes the sixth member to resign under Theresa May’s government which highlights the fragility of her current party.

With so much division within the party this is likely to cause further instability for the Pound and if we see any other members also resigning this could cause further problems for the party and the Pound.

In the meantime we have still seen some very strong UK GDP data on Friday  but the overriding factor affecting the future of the Pound against the Euro is that of Brexit.

Only a fortnight ago UK Brexit Secretary Dominic Raab was claiming that a deal could be done by November 21st and although Downing Street quickly denied the claims as speculative as far as I can see there’s no smoke without fire so his claims could have some justification.

If you have a currency transfer to make involving Pounds and Euros in the short term it may be worth getting this organised early next week. If you would like further information or a free quote then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Tom Holian
Having worked in the foreign exchange industry since 2003, longer than some of today’s currency brokerages have been in business, Tom draws on his considerable experience of the currency markets when writing his Euro exchange rate forecasts.

Will the Pound continue to rise against the Euro this week?

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The Pound against the Euro has seen some very positive movements already during this month as the issue of Brexit appears to be going well as far as the UK is concerned at the moment.

Britain’s financial services minister John Glen has said that ‘we are increasingly positive on the expectation of reaching a deal’ and UK Brexit Secretary Dominic Raab also suggested only last week that a deal could be done by 21st November and this has provided the Pound with a lot of support vs the Euro recently.

We saw the release of some lower than expected UK Services news yesterday but the fall for Sterling exchange rates vs the Euro was rather brief and we saw the Pound continue to make gains during the afternoon and already this morning.

Later today the Cabinet will be meeting and will be discussing alternatives to the Irish backstop issue which has been a real sticking point for the Brexit talks and I think if the UK can get past this issue then I think the talks will move swiftly along and possibly even conclude this month.

Meanwhile, the Euro has been struggling against a number of different currencies including vs the US Dollar and the Pound owing to the issue between the Italian government and the European Union at the moment.

The current stalemate has been caused by the Italian budget plans which means that they will be spending more than they are allowed by EU rules that they agreed to back in July.

At the moment the EU have allowed Italy just over a week to redraft their budget plans or face a penalty which amounts to 0.2% of their current GDP level, something they are likely to want to avoid. Therefore, this is why we could see Pound Euro rates move towards 1.15 during the course of this week.

If you have a currency transfer to make and would like to save money on exchange rates compared to using your own bank then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

 

Tom Holian
Having worked in the foreign exchange industry since 2003, longer than some of today’s currency brokerages have been in business, Tom draws on his considerable experience of the currency markets when writing his Euro exchange rate forecasts.

Could a Brexit deal be reached this month and the impact on Pound Euro exchange rates?

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The Pound vs the Euro touched 1.14 during Friday’s trading session as it appears as though the tone towards Brexit is improving.

According to some reports the UK has been able to agree a deal for financial services with the European Union post-Brexit and this has helped push the Pound in an upwards direction vs the Euro.

This could be a huge coup for the Prime Minister as it means that businesses could be in a stronger position as this would help remove some uncertainty.

This news was followed by Brexit Secretary Dominic Raab’s claim that a final deal between the UK and the European Union could be agreed by 21st November. However, this has been denied by Downing Street who claimed that the story was speculative.

Meanwhile the tone from the Bank of England on Thursday was much more positive with the governor Mark Carney calming fears over a no-deal Brexit and that he fully expects a deal to be done between the UK and the European Union.

I am inclined to agree with him as there is too much at stake to not put a deal together and I think it will be a matter of time before things are resolved.

The real issue though is that even if the UK and the EU can come to some form of resolution the UK will still have to get the deal ratified in parliament and that could be very tricky as the Tories do not have a majority.

Next week the first important bit of economic data for the Eurozone will come with Retail Sales for the continent and we end next week with a huge amount of UK data.

Friday brings with it UK Industrial and Manufacturing Production data as well as UK GDP data so expect a busy end to the week if you’re planning a currency transfer.

If you would like to save money on exchange rates when buying or selling Euros and would like a free quote then email me directly with a brief description of your currency requirement and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

Tom Holian
Having worked in the foreign exchange industry since 2003, longer than some of today’s currency brokerages have been in business, Tom draws on his considerable experience of the currency markets when writing his Euro exchange rate forecasts.

A uncertain end to the month for the Pound vs the Euro with Brexit, Budget & Eurozone GDP data ahead

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The Pound has once again come under pressure vs the Euro after Prime Minister Theresa May suggested that the Brexit talks are 95% complete.

However, at the moment the real sticking point is the Irish border and until that is resolved I cannot see the Pound making any substantial gains. The European Union has not yet offered any alternatives and this is one of the major reasons for Sterling’s lack of support causing GBPEUR exchange rates to struggle.

The current suggestion offered by Theresa May is that the UK will remain in a customs union with Northern Ireland included but the EU have said they will only allow this to happen during the transitional period. However, this plan does not offer a permanent solution.

If both parties cannot agree on the terms of the border issue this will continue to pile pressure on Sterling exchange rates so if you’re planning to send money to Europe it may be worth getting this done in the near future.

On Monday Chancellor Philip Hammond will announce the latest Budget which could be a tricky one to deliver. Hammond will need to keep Tory voters and MPs happy with his plans as the party does not have a majority in parliament so if we do see any surprises this could cause movement on GBPEUR exchange rates.

On Tuesday we could see even further movement with the latest Eurozone GDP data for the third quarter. This will be the first estimate of the previous quarter with expectation for growth of 2.1% so anything different could cause a lot of volatility especially if the continent shows signs of a slowdown caused by the uncertainty of Brexit.

If you would like further information as to what is happening to GBPEUR exchange rates and would like a free quote then send me an email with a description of your requirement and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Tom Holian
Having worked in the foreign exchange industry since 2003, longer than some of today’s currency brokerages have been in business, Tom draws on his considerable experience of the currency markets when writing his Euro exchange rate forecasts.

The calm before the storm of the EU Summit and the impact for the Pound vs the Euro

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Pound Sterling exchange rates vs the Euro have remained in a very tight range so far this week as it appears as though the markets are adopting a wait and see approach in anticipation of the EU summit due to start shortly.

Even this morning the markets have only moved by 15 pips on Sterling vs the Euro which is very unusual. The summit taking place will have the Brexit topic at the top of the agenda and at the moment the Irish border issue is still far from being concluded.

Today’s meeting was originally planned to conclude the talks but recently there have even been suggestions that the talks may even be extended by another year in order to allow time for a more planned Brexit rather than rushing through a deal.

If today’s summit ends with a further lack of clarity of what happens when and next I think this could cause problems for the Pound as it would mean the UK would be heading closer to a ‘no deal’ situation and although I don’t think this will ultimately happen, a lot of things will need to fall in to place and very quickly in order to navigate through what is a political and economic minefield.

If you’re planning to make a currency transfer in the near future it will be extremely important to make sure you’re well prepared for potentially a lot of market movement on Pound vs Euro exchange rates as the slightest news release could cause big swings on the markets.

Metaphorically speaking, today appears to be like standing at the fireworks display with a start time of 8pm but it’s now 8.15 and you’re thinking when or even if the display will start so be prepared for a very busy day ahead on GBPEUR rates.

If you’re in the process of buying a property in Europe and you would like to save money on exchange rates compared to using your own bank then contact me directly for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Tom Holian
Having worked in the foreign exchange industry since 2003, longer than some of today’s currency brokerages have been in business, Tom draws on his considerable experience of the currency markets when writing his Euro exchange rate forecasts.

EU Summit due next week and the Pound to Euro Outlook

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With the EU summit just a few days away could we be seeing a conclusion coming for the Brexit talks at the end of next week?

We have seen the Pound hit the best level to buy Euros for 3 months earlier this week but on Friday afternoon the GBPEUR exchange rate has started to fall as speculators appear to be trying to second guess what will happen next week on the foreign exchange markets.

The UK’s Brexit Secretary Dominic Raab is due in Brussels on Monday and he is there to try and get a deal organised prior to the summit due to take place on Wednesday.

I personally cannot see this happening next week and think that when the next summit takes place in November we could see a deal done by then and this could provide Sterling with its long await rally so up until then if you need to buy Euros in the short term it may be worth getting things organised in the near future as I think we could also see some large movements for the Pound vs the Euro next week especially during the two day summit as news filters out during the talks.

In the meantime Italy has been struggling as of late with its increasing trade deficit and at the moment they appear to be locking horns with the European Union as to what they will be spending on infrastructure so this particular news story will have further to run but in the meantime the over-riding influence for the Pound Sterling Euro rate will be that of Brexit.

If you have a currency transfer to make and would like further information or a free quote then contact me directly and I look forward to hearing from you.

Email me directly with a brief description of your currency requirement and I’ll be in touch.

Tom Holian teh@currencies.co.uk 

Tom Holian
Having worked in the foreign exchange industry since 2003, longer than some of today’s currency brokerages have been in business, Tom draws on his considerable experience of the currency markets when writing his Euro exchange rate forecasts.

Sterling hits 3 month high against the Euro as Brexit talks going positively (Tom Holian)

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The Euro has been starting to show signs of a struggle recently against the Pound with GBPEUR exchange rates now trading at their best level to buy Euros for over 3 months.

EU Brexit Negotiator Michel Barnier has suggested that the deal between the UK and the European Union is getting closer and this has encouraged investors to back the Pound giving it some real support vs the single currency.

Sterling has been trading in the 1.14 levels during the course of this week and we are now just 6 days away from the start of the EU summit which is likely to be crucial in terms of what will happen to Pound Sterling exchange rates in the weeks ahead.

The key topic will be that of Brexit and if a deal gets closer to being concluded this could give the Pound some real support against the Euro. It appears that behind the scenes talks are going well with the Irish border issue and in monetary terms this has moved the Pound Euro exchange rate by as much as €1,800 on a currency transfer of £100,00 which is welcome news for anyone looking to send money to Europe at the moment.

The other issue that has negatively affected the value of the Euro is what is happening in Italy at the moment. Credit ratings agency Moody’s have suggested that they may be ready to downgrade the country as the Italian government have said they will carry on with their public spending and tax plans which goes against the limits set out by the European Union.

The Italian government is set to submit its plans early next week and this could mean that Moody’s could look at downgrading them in the near future which could impact on the value of the Euro.

However, the over-riding issue will be that of the Brexit talks towards the end of next week so make sure you’re well prepared for a volatile end to next week.

A lot of my clients have been opting for a forward contract in recent times to avoid the uncertainty so if you would like to find out more about the options available and would like a free quote then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Tom Holian
Having worked in the foreign exchange industry since 2003, longer than some of today’s currency brokerages have been in business, Tom draws on his considerable experience of the currency markets when writing his Euro exchange rate forecasts.

Pound falls against the Euro as Brexit talks at a stalemate (Tom Holian)

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The Pound has fallen by two cents vs the Euro during the course of the week as the pressure mounts on Sterling exchange rates.

The meeting on Thursday in Salzburg went badly for the UK with a number of EU leaders rejecting the Chequers plan offered by Prime Minister Theresa May.

She left the meeting disappointed and said if Chequers will not be approved then the EU will need to come up with their own plan.

Theresa May gave a statement on Friday afternoon which caused further losses for Sterling when she confirmed that the UK will not hold a second referendum. She has also suggested that she may be prepared to walk away from the talks if another solution is not offered by EU.

The Brexit talks are now at a stalemate and with the Irish border still not yet decided the UK remains in political limbo and this is why we saw the Pound collapse at the end of this week.

Meanwhile European Council President Donald Tusk has said that a Brexit compromise is still possible. He also went on to say ‘while understanding the logic of the negotiations, I remain convinced that a compromise, good for all, is still possible.’

During the course of this week the Pound has fallen by as much as £2,300 on a currency transfer of EUR100,000 which highlights the importance of keeping up to date with what is happening in the foreign exchange markets.

With further uncertainty ahead concerning the Brexit issue I think this could continue to weigh heavily on Sterling Euro exchange rates and until we get some form of clarity as to what is happening then I think we could see the Pound fall even further against the Euro.

If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as soon as I can.

Tom Holian
Having worked in the foreign exchange industry since 2003, longer than some of today’s currency brokerages have been in business, Tom draws on his considerable experience of the currency markets when writing his Euro exchange rate forecasts.