Category Archives: Euro Strength

Best Rates of Exchange – When to Buy Euros?

Sterling / Euro has remained ‘range bound’ of late, lows being circa 1.24 and spikes up to 1.28. Todays trading has seen a 1 week high just shy of 1.27 but the session should close back closer to 1.2620. GBP EUR could have had a much busier day as at 09:30 there was the release of UK GDP Revisions. If it had transpired that GDP figures were revised down then we would have seen GBP EUR at much weaker levels.

The rest of the week hold German Unemployment data (08:55 tomorrow), German CPI (13:00 tomorrow) and Eurozone CPI (10:00 Friday). If you have an exchange that you need to get arranged, or would just like to discuss it, please feel free to contact me on the trading floor directly on 01494 787 478. Alternatively email me AJB@currencies.co.uk

When to BUY or SELL Euros?? Exchange Rate Forecast – Andrew Bromley

GBP EUR open tentatively this morning at circa 1.26, ready for the revised UK GDP figures for Quarter 3 2014 and Quarter 3 year on year. The figures came in as expected, 3% for year on year and 0.7% for the quarter. It may be the that the markets had priced in a slight increase for Sterling, as on announcement of the ‘no change’ result, Sterling has dropped by roughly 20 ‘pips’.

Looking further forwards, tomorrow has German unemployment figures and Consumer Price Index (CPI). The German economy is key to Eurozone success and as it has been stagnant for so long, a strong reading in either direction could have a profound affect. The overall Eurozone CPI is due out Friday, and I feel that GBP EUR will close out the week back closer to 1.27.

Please do feel free to get in touch if you have a currency requirement – be it selling Euros before the expected data releases or getting ready to buy should the markets spike.

Direct line to the trading floor 01494 787 478, please ask for Andrew Bromley. Alternatively email me, AJB@currencies.co.uk

 

GBPEUR rates spike!

GBPEUR Rates have spiked due to Mari Draghi confirming more QE was likely in the New Year. This really looks like it will cause the Euro to remain on the back foot for quite some time, if you need to buy foreign exchange getting the timing right on your exchange is key to getting the best deal. We work hard to identify important news for our clients to try and help them capitalise on the favourable movements.

If you are buying or selling Euros we can help with a favourable rate and information on the market to help you capitalise on the spikes and save you money. If you would like to get any further information about our services please contact me Jonathan on jmw@currencies.co.uk

GBPEUR racing down in value – When do I buy euros?

GBPEUR rates have continued their fall with a further 2 cents dropped over the last few days. His puts the total loss of nearly 4 cents over the last week!

Sterling forecasts seems to be missing expectation and we have seen interest rate hike in the UK pushed back by a further 6 months, not great for anyone looking at buying Sterling. European news has also showed a slight pickup, yesterday the German confidence figures also showed a surprising improvement. Later today we have the next economic event from the UK which is the Bank of England minutes. This is expected to show interestingly the change in the vote between the nine members of the monetary policy committee that vote in any change in central policy. In the last few meetings the split has been 2-7 but I would expect this to change reflecting the stance by the bank at the recent Quarterly Inflation Report. A fall to 0-9 could give Sterling more of a headache as additional funds come out of the Pound resulting in a further fall for GBPEUR.

I have the view that levels will probably fall back to 1.24 before it revisits 1.27.

If you are in a position looking at the market and would like more information feel free to contact myself, Steve Eakins via email at hse@currencies.co.uk

Will the Euro recover in the future?

It seems unlikely that the Euro will recover in the future since their economy is in a process of stalling and further easing measures look very likely. I doubt that the current measures by the ECB (European Central Bank) will be enough to stem the tide of a high unemployment, low growth. For me if I was holding euros and looking to sell for the pound or US dollar we would expect that both the UK economy and the US economy will outperform the Eurozone and hence those currencies will rise further against the euro.

The market does not unfortunately move in a straight line and anyone holding euros would in my opinion be best off selling on the dips. We can help point on thiese dips and monitor the spikes for you. Please contact me Jonny for more information at no cost or obligation on jmw@currencies.co.uk

Sterling Euro Instability (Tom Holian)

Sterling Euro exchange rates have had an interesting start to the week as the market is not sure which way to turn.

Yesterday ECB President Mario Draghi announced that growth in the Eurozone had stalled and insisted that they are willing to do more to stimulate the economy. This saw a small amount of Euro weakness during yesterday afternoon’s trading session.

This morning UK inflation figures came out marginally higher than expected and typically this should have given Sterling a lift but the ZEW survey published in both Germany and the Eurozone was hugely positive.

The ZEW survey measures confidence and this has provided the Euro with further strength and I think we’ll see little movement on GBPEUR exchange rates this afternoon.

However, tomorrow morning the Bank of England minutes are released. With the last few months showing 7-2 keeping rates on hold any change to 8-1 could see huge Sterling weakness in the morning.

If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

Euro recovery on better news

The Euro could feasibly mount a recovery on much better news surrounding the Eurozone economy. Next week there is a range of data to move the market including the Bank of England Minutes as well as UK Retail Sales. If I was selling euros to buy the pound these are the events that I would look for.

To make the most of your currency exchanges why not employ the service of a specialist currency broker? We offer exchange rates that will undercut the banks and offer assistance with the timing of your exchange as well. For more information at no obligation please email me Jonny on jmw@currencies.co.uk

Important Information regarding the Euro this week

Tomorrow is a whole host of Eurozone news focusing primarily on Inflation data which could well be a market mover. If you need to buy or sell Euros an understanding of this important aspect of the Eurozone economy could save you money. We expect the Euro to remain on the backfoot although with so much negativity still surrounding the Euro, the chance of an upside surprise if the data impresses.

If you need to buy or sell the Euro an understanding of what is moving rates is the key to making the most of the transfer. Exchange rates move daily sometimes up to 2 cents or more so getting the timing of your exchange right is key to making the most of your money. For more information on what may move your rate please contact me Jonny at jmw@currencies.co.uk

Best Exchange Rate GBP EUR – Sterling Euro Forecast (Andrew Bromley)

Today is the key day this week for Sterling as the UK releases its unemployment figures at 09:30. The data incorporates within it the level of monthly wage increase, the level of unemployed people in the UK and also the figure of people applying for benefits. The unemployment level is expected to reduce slightly from 6% down to 5.9%. We may see a slight window of opportunity for Euro buyers as a reduction of unemployed people is a positive sign for the UK economy.

One hour later is the Bank of England quarterly inflation report, read by Bank of England Governor Mark Carney. As those trading currency would have noted in September - when there is political instability, the markets can be incredibly volatile. With that in mind I think that as the inflation report is not expected to uncover any hidden gems indicating a major UK economic improvement, the Bank of England will be looking to push the next interest rate increase back beyond next years election.

Should you have an exchange to do and want to take advantage of spikes in your favour, please feel free to drop me a line on 01494 787 478. I am also contactable on ajb@currencies.co.uk

 

I look forward to being of assistance.

 

Andrew Bromley

GBPEUR could drop Wednesday, get in touch today!

We expect the GBPEUR rates to fall slightly on Wednesday if the Bank of England Quarterly Inflation Report and Unemployment data indicate the UK economy is not faring as well as some had hoped. Notably rates on GBPEUR are slightly down from the absolute highs we saw some time ago, what is the forecast longer term for the Euro against the pound?

I personally would favour the pound longer term and view any dips in GBP strength as worth talking advantage of since the UK appears to be in a better position than the Eurozone economically which should mean GBPEUR rises again down the line.

For more information on what will move the market please contact me directly on jmw@currencies.co.uk

Euro rates gain back

Some USD weakness has helped Euro sellers as funds from the USD are moved to Euro on the back of some not as good as expected US employment data. The picture for the US economy remains buoyant which should be supportive of the USD and means the dollar will be strong and the euro weak. This means that I still think anyone selling euros to buy either the pound or the USD should move on such dips as the longer term picture would have to favour sterling or the greenback since the UK and the US are both on course to raise interest rates.

If you need to buy any currency in the future understanding what will move your exchange rate is key to getting the best deals. For more information at no obligation or cost why not speak with us direct to discuss all available options. Please contact me Jonathan  on jmw@currencies.co.uk

Mario Draghi’s comments will be in focus…

European central bankers are said to be disgruntled with Mario Draghi after it emerged that his management style is secretive. The Euro made some gains against the pound and dollar after US data today showed an increase in the Trade Balance figures. This caused the USD to weaken and the Euro to strengthen, pushing GBPEUR back safely into the 1.27′s.

Guessing just how this will pan out on Thursday is difficult but I would not be surprised to see the Euro weaken. If you need to sell Euros for the pound than it may be wise to move before Thursday’s decision, likewise if you need to buy Euros and want to see some improvements on the price, moving after Thursday’s decision is probably the best bet.

If you have any questions or queries on the market please contact me Jonny on jmw@currencies.co.uk