Category Archives: Euro Strength
The EUR has made gains against both GBP and the USD during Thursday morning’s trading, relieving some pressure on the single currency. GBP/EUR rates have dropped back below 1.27 on the exchange, following positive Eurozone PMI data this morning. There was also negative data for the UK, with Retail Sales figures coming out much worse than expected. This seems to have halted the Pound’s rise and it will be interesting to see whether the single currency can now start to put pressure back on 1.26 following this morning’s economic releases.
The EUR has been struggling to make any sustained inroads, particularly against GBP. GBP/EUR had crept up to a fresh two year high yesterday but the single currency found market support around that level and Sterling may well have hit a glass ceiling. I anticipate further economic difficulties for the Eurozone, so if you are holding EUR and wish to protect yourself against further market losses then one of our forward contracts can protect you from any adverse movement.
If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on firstname.lastname@example.org
Following sterling’s strong shift this week the pound has started on the back foot against the single currency this morning but is still trading at strong levels around the 1.2650 mark. The main focus this morning will be Euro Zone inflation figures at 10:00 – forecast to stay the same and could be a slight non event, however should levels fall below the current level then expect further pressure on the Euro and a potential shift through 1.27 GBP/EUR and 1.35 EUR/USD.
Tomorrow will also see the release of the Euro Zones trade balance figures.
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Sterling Euro exchange rates close in on two year high despite average earnings dropping (Daniel Wright)
The Pound has still made further gains against the Euro in trading today, even with average earnings for the U.K dropping a little which may slightly slow the chance of an interest rate change as soon as may have been thought yesterday.
Wage growth vs inflation is one of the key factors for the Bank of England to look at raising interest rates in the U.K however this does not appear to have knocked the Sterling strength train off of its tracks and it is indeed up against the Euro for the day at the time of writing this.
An interest rate hike for an economy generally leads to a spike in value for the currency associated to it and with the markets moving on speculation as well as fact the mere rumor of a hike coming closer can strengthen a currency significantly.
This is an extremely key time for the Euro as we have not only recently had a rate cut but also the mention of the prospect of QE (Quantitative Easing) which may also damage it a little.
If you have an upcoming transfer to carry out and want to get the best exchange rates along with great customer service and knowledge of the markets then email me directly on firstname.lastname@example.org I welcome all contact for bank to bank transfers however i’m afraid I cannot help with cash transactions or speculation.
The EUR had another rough ride today, as investors watched the single currency lose market position against both GBP and the USD. GBP/EUR levels have risen sharply following positive UK inflation figures releases this morning. The Pound spiked by over a cent against the EUR at today’s high, with GBP/EUR rates moving comfortably through 1.26 on the exchange and close to a two year low for the EUR.
EUR/USD levels also dropped, hitting a low of 1.3561 on the exchange during Tuesday’s trading. Whilst the USD has had struggles of its own over recent months, the same can be said for the EUR and the recent volatility on the pair is testament to the uncertainty each currency currently has with investors trying to predict their next moves.
If you have an upcoming EUR currency requirement and you would like to protect yourself against further market loses, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on email@example.com
Euro exchange rates have clawed back some ground today gaining 0.25% against the the pound and 0.15% against the US dollar on a relatively quiet day data wise. This week the main focus as far as I can see will be Thursday’s inflation figures.
Recently inflation has been falling causing concerns over deflation and the pressures this will bring, indeed it was this concern that led to the ECB cutting interest rates in June. With little room for maneuver with interest rates it is unlikely the ECB will cut again, however falling inflation may mean other policies may have to be implemented that could put the Euro under further pressure.
Other data of note will include Wednesday’s trade balance figures.
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Yesterday’s breaking news concerning Portugal’s largest bank caused shock waves across the markets. Weak economic data from Italy and mounting concern about the future of Banco Espirito Santo drove the sell-off, spreading from southern euro nations across Europe. Banco Espirito Santo shares dived more than 17% at one stage despite government assurances the bank was solid.
As a result, the Lisbon stock exchange fell more than 4%, Madrid’s IBEX was down 2.7%, while the Paris Cac 40 and Frankfurt’s Dax were both 1.8% lower. For me this uncertainty and lack of transparency (Portugal’s central bank then ordered an audit into the group’s accounts, which uncovered “serious” accounting irregularities) will keep pressure on the Euro and this is something that should keep Euro sellers on their toes.
As further news comes out regarding Portugal’s banking woes and the market begins to digest the information I would expect some volatility for the Euro. Let us be your eyes and ears on the market. By keeping in touch with your broker we can contact you should the market reach a particular target level or indeed start falling and help mitigate your losses. Email Mike at email@example.com
The EUR has struggled to make any serious inroads against the Pound over recent weeks, dropping to a near two year low. Whilst it has gained slightly from this position over the past couple of days, any sustained move back below 1.25 seems unlikely at this juncture. The EUR has been handicapped by the on-going economic disparities inside the Eurozone and although ECB president Mario Draghi continues to remain bullish over the EUR long-term future, investors seem unconvinced.
With little data out this week GBP/EUR was always likely to remain range bound, although worse than expected UK trade balance figures this morning did halt the Pound’s recent momentum and has allowed the EUR to keep GBP below 1.26 on the exchange for the time being.
If you have an upcoming EUR currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our exchange rates with your current provider, then please feel free to contact me on firstname.lastname@example.org
The Euro has today recovered some of its losses against the pound with GBP/EUR back down at 1.2560. The trend is still Euro positive so if you have Euros to sell our recommendations are to look at your exchange in the near future as the rates could continue to go against you if buying sterling.
Tomorrow could be a volatile day for GBP/EUR as their is a host of data out from the UK most importantly the interest rate decision out at midday. There has been a lot of talk about when interest rates will rise in the UK. This being the main contributing factor to the pound rising so significantly of late. We are not expecting a change in rates tomorrow but if the unexpected happens the pound could rise. We also have all of the trade balance figures for the UK which could be a bigger market mover than the interest rate. A healthy number will surely be GBP positive.
In Europe there is the ECB monthly report. They will discuss the current economic situation in Europe and as things have not been going to well a dip in the value of the Euro is expected. his will be good for Germany as the lower the Euro goes the better it is for their exports.
If you are buying Euros I would be exchanging your funds on spikes in the market to keep capitalising on the favourable rates. If you require buying or selling the Euro then you may find out more about our service by emailing myself Ben Amrany at email@example.com
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If you are selling euros I really do think that moving sooner is the wisest thing to avoid further movements against you. Many have been holding on expecting rates to improve but this is a risky strategy, particularly against sterling which is very much supported at present. Any short term needs to sell Euros should probably not be delayed too long.
To keep an eye on rates movements yourself, you can view live interbank rates here. To receive assistance moving funds back from Europe to the UK following say an overseas property sale or a liquidation of assets, please contact me on 01494 787 478 email me Jonathan on firstname.lastname@example.org