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

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 

Personally, I would be extremely surprised not to see any further fireworks for the more troubled economies within Europe however this positive stance may well lead to a little Euro strength in the coming weeks.

We have the ECB monthly report out on Thursday which will tell us a little more about how things are going but personally I do not see any major movements this week against the pound or the Dollar unless U.K or U.S data comes out completely different than expected.

If you have a currency transaction to carry out involving either buying or selling the Euro then I can help you get the very best exchange on the market – The company I work for has won awards for exchange rates and customer service so it is certainly well worth getting in contact with me if you have a pending currency requirement. You can email me on djw@currencies.co.uk I look forward to hearing from you.

The ECB has recently cut its own Eurozone growth forecast as it confirmed it would keep interest rates on hold at record levels on Thursday. The ECB has now predicted that the Eurozone will contract by 0.6% this year but it did insist that recovery albeit slow will occur in 2014. This has seen Sterling improve marginally against the single currency with the GBPEUR hitting levels of resistance at 1.1780.

If you need to make a currency transfer and want to ensure you are getting competitive exchange rates feel free to contact Tom Holian teh@currencies.co.uk

If you are buying property abroad but don’t need to make a currency transfer for a few months you may to consider buying a forward contract so for a more detailed explanation as to how to secure your currency in advance get in touch teh@currencies.co.uk

Today’s key data for anyone with a EUR requirement, was the European Central Bank (ECB) interest rate decision and Mario Draghi’s subsequent press conference. As expected interest rates were kept on hold and there was no mention of further monetary policy. Whilst the Pound may be enjoying its run against the EUR at present, I do believe the arrival of incoming BoE governor Mark Carney could change the landscape dramatically. There is a lot of talk that he will be instigating aggressive rounds of Quantitative Easing (QE), with the hope that it will devalue the Pound enough to get the Eurozone trading with us again and in turn this should shorten our trade deficit and improve the overall health of the UK economy. For this reason I would suggest anyone looking to buy EUR should consider their positions imminently and those looking to sell should be keeping their eyes firmly fixed on developments over the coming weeks.

Here at www.eurorateforecast.com we are able to provide our clients not only with award winning rates of exchange but a bespoke service designed to give you the client, as much insight into the markets as possible. If you would like to find out the type of rates or contracts we offer, or need to be kept up to date with all the latest market movements, then please call us on 0044 1494 787 478 or email me directly at mtv@currencies.co.uk.

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

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

The first question most clients will ask me if they have a GBP/EUR requirement is whether rates will reach 1.20 again over the coming months. Personally I believe we will see pressure put back on that level but may find it a difficult resistance barrier to break in the short-term. We have already seen key figure-heads such as Mervyn King talking our economy down, in order to ensure the Pound does not gain too much value, which will in turn have a negative impact on our export industry.

We also need to consider that despite the recent interest cut by the European Central Bank (ECB), their president Mario Draghi has been talking up the future of the EUR and has seemed more bullish than usual in his recent press conferences. Whilst we can say with some certainty that the economic problems in the Eurozone are far from over, other factors which are likely to keep the Pounds value down.

The EUR has performed well against the AUD of late, with its recent rally being furled by the recent interest rate cut by the Reserve Bank of Australia (RBA).

Here at www.eurorateforecast.com we are able to provide our clients not only with award winning rates of exchange but a bespoke service designed to give you the client, as much insight into the markets as possible. If you would like to find out the type of rates or contracts we offer, or need to be kept up to date with all the latest market movements, then please call us on 0044 1494 787 478 or email me directly at mtv@currencies.co.uk.

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

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

Also at 09:30 tomorrow watch out for Retail Sales figures from the UK (expected to show a strong improvement that could lead to GBP strength as a result). Should you have an interest in Euro exchange rates then also watch out for a speech from Mario Draghi Thursday morning, positive sentiment from Mr Draghi the Euro may continue its strong start to the trading week.

As you can see we have plenty of data released for the rest of the week. To be kept up to date with the impact these data sets may have for your individual requirement then please contact me and I will happily run though my forecasts and run through the various contracts we can offer to help maximise your currency exchange. I am very confident I can help achieve a better rate than your current provider. Please call the office on 01494 787478 or email me (Mike) with a brief overview of your requirement and I will gladly contact you to help with your money exchange. I can be reached at mgv@currencies.co.uk

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

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 

It was announced this morning that France is now in a triple dip recession and with the combined positive news from the Inflation Report this morning this helped Sterling push up against the Euro by 0.5% or the difference of £220 on a €50,000 currency transfer. On a different note it could be argued that as Mervyn King is stepping down in July he may be trying to leave his legacy in place that all things are on the way up so his tenure is seen in history as a positive reign.

Tomorrow see the Eurozone announce their own Inflation data at 10am UK time so if you have a currency requirement and want to be kept up to date over the next few days or would simply like a free quote please email me directly Tom Holian teh@currencies.co.uk
 

We will also find out the GDP figures for Italy and Portugal today and at 10:00am we have arguably the biggest announcement of them all, Eurozone GDP figures. It is expected that this will come out at -0.1%, meaning a decline across the whole Eurozone economy. I personally think we may see this announcement come out slightly worse than expected and if so we could see a bout of Euro weakness off the back of this. With all of the data across the Eurozone coming out today and none of it seeming too positive I feel as though -0.1% is only a very small amount for the Eurozone economy to shrink for an economy that is obviously struggling a great deal. If this announcement doesn’t come out as expected, whether it be better or worse, then I would expect to see a lot of movement with regards to EUR rates.

If you have an upcoming currency requirement and would like to speak with one of our specialised, professional currency brokers then please contact me direct at atr@currencies.co.uk . We have a number of different contract options available to you that can help safeguard your funds against any adverse market movements.