Euro Rate Forecast

Currency experts forecast on the Euro

Buy Euros latest: Italian debt hurts the Euro

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EU set to punish Italy for rising debt

If you plan to buy Euros, it might interest you to know that EU finance ministers have agreed to pursue plans to penalise Italy with a fine to the value of £3 billion. Last week, the ministers confirmed that Italy’s high debt contravenes EU regulations, prompting the European Commission to take steps to punish the Italians.

On top of the ongoing budget dispute, Italy appears more likely to leave the Eurozone than anyone else. This is after a proposal to create mini-BOTs, a parallel currency to run alongside the Euro, which can be used by the Italian government to ease debt. This is a controversial method to say the least.

Matteo Salvini, Italian Deputy Prime Minister, stated that “We don’t need to ask Germans, Spanish and Luxembourgish for money. We want to use Italians’ money for Italians.”

The Euro is suffering due to this situation and investors are watching with a keen eye. This does have the potential to weaken the Euro further against the majority of major currencies. It is close to a two-year low against the US Dollar.

Is the Euro going up?

The Euro has suffered of late due to several contributing factors. The latest is the European Central Bank’s (ECB) June assessment of the Eurozone economic outlook, which was perceived to be worse than expected. This due to global demand issues and slowing domestic economies.

Analysts had predicted that the ECB would change the Eurozone’s interest rates before long.

However, Mario Draghi, President of the ECB, recently suggested that policymakers are now likely to wait for a longer period before raising rates. Mr. Draghi said that the ECB have all the necessary tool’s in the toolbox to deal with upcoming issues. In all honesty, there is very little justification for a hike.

Pound to Euro forecast

The decline of Sterling is widely attributed to the increasing probability of a ‘no deal’ Brexit taking place on October 31st. This follows the failure of Prime Minister Theresa May’s Brexit deal to pass through Parliament, and her subsequent resignation.

Analysts from Danske Bank have said a combination of weaker domestic data, global risk sentiment and ECB policy will play a part in a softer GBP/EUR exchange rate, going forward. There have been fears that “non-Brexit drivers [will] weaken the GBP further over the summer.”

However, Brexit will remain the key driver on GBP/EUR. I am afraid that, until we have clarity on the UK’s political situation and Brexit, the Pound will remain fragile.

If you have a currency requirement, I will be happy to assist. It is crucial to be in touch with an experienced broker if you wish to maximise your return. If you let me know the details of your trade, I will endeavour to produce a free, no obligation trading strategy for you.

If you have a trade to perform, I will also happily provide a free quote . I am confident our rates are among the best in the industry. I would be willing to demonstrate this in form of a comparison with any competitor. You can trade in safety knowing you are dealing with an FCA-registered company and one that has been trading for 18 years, Foreign Currency Direct PLC.

If you would like my assistance, I can be contacted at dcj@currencies.co.uk, Daniel Johnson.

Daniel Johnson

Euro predictions: Tory leadership vote to take centre stage

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For our latest Euro predictions, we’ll see how there’s little economic data due out today and for the remainder of the week. So the most likely market-mover will be today’s first round of voting on the Conservative Party’s leadership contest. The eventual winner will become Prime Minister.

There remain 10 candidates for the position. At the time of writing, ex-Mayor of London Boris Johnson is the bookies’ favourite. However, the bookies have got a number of political outcomes incorrect in recent years. So until there is an official winner, I think that we could see the Pound influenced by the voting outcomes.

The initial 13 candidates has already been whittled down to the remaining 10. The remaining candidates need a total of 17 votes to progress to the next round of voting. This will take place next week.

Of the candidates that remain, there are none that wish to push forward with another referendum regarding the UK’s membership of the EU. However, the opinions on the best way forward do vary. This is why we could see a volatile time of trading for GBP exchange rates.

Is the Euro going up or down against the Pound?

Those of our readers and clients that plan on converting Euros into Pounds should be aware that current levels are around 4% better than at the beginning of May. Also, the current levels are around the best in five months. So do feel free to get in touch if you wish to discuss this further.

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. 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 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, Joseph Wright, on jxw@currencies.co.uk. I will endeavour to get back to you as soon as I can.

Joseph W

When to buy Euros update: Brexit dictates GBP/EUR

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In today’s update about when to buy Euros, we’ll see how Sterling has fallen in value against the Euro. This is because Prime Minister Theresa May seems to be destined for failure again, when she puts her draft Brexit deal before the House of Commons in early June.

Mrs. May’s deal has failed on three occasions and it seems there is little change from the previous proposals. I believe that the chances of the deal going through are slim.

Strong opposition to May’s Brexit bill impacts GBP/EUR

Titular heads from within and outside the Conservative Party have made it clear that they are in opposition to the current deal. This does not bode well for the next vote in the House of Commons.

GBP/EUR breached 1.17 recently, yet I was unconvinced that the rally would last. I was of the opinion that the rise was false. This is because it was based on positive talks between the Tories and Labour and getting a deal through, before the European Parliament elections held on 23rd May.

I believed there was little chance of this, and I feel the same about Mrs. May getting a deal through in early June. The Prime Minister has had more than two years to negotiate an acceptable deal, and even at this stage, it seems we are far from achieving that.

Brussels’ stance remains the same. The European Commission’s spokesman Margaritis Schinas recently spoke and stated that there would be no concessions made and the deal offered will remain the same.

The breakdown in talks between Labour and the Conservatives has not helped the Pound, and GBP/EUR now sits in the 1.14s. The recent movements show that the Pound to Euro rate is being dictated by Brexit news.

If we look EUR/USD, it is close to a yearly low. This is as investors seek to put their funds into safe haven currencies such as the US Dollar, in times of global economic uncertainty. Another catalyst is the weak economic performance in the Eurozone.

Is the Euro going to go up?

I think the Pound will remain fragile until we have firm progress on Brexit. Again, we are now below the 1.15 resistance point on GBP/EUR that held strong for 18 months, up to pre-March this year. Every time it was breached, the rates quickly retreated. It will be interesting to see if it holds up, moving forward.

Be aware that if Mrs. May resigns following the deal failing to go through Parliament, we could actually witness Sterling strengthen. This is because the Prime Minister’s leaving could be perceived as positive for Brexit negotiations, despite the fact that political uncertainty usually weakens the currency in question.

Let us pray that former Foreign Secretary Boris Johnson doesn’t gain power. He mis-sold Brexit and has tried to undermine negotiations at every opportunity. He is an example of a man with his own agenda, not that of the people.

If you have a currency requirement, I will be happy to assist. If you let me know the details of your trade, I will endeavour to produce a free trading strategy. During a period of such uncertainty, it is important to be in touch with an experienced broker, if you wish to maximize your return. We have tools at our disposal to make sure you do not miss out, if there is a spike in your favour.

If you already have a currency provider in place, drop me an email with what you are being offered. I am very confident I will be able to demonstrate a significant saving. It will only take you two minutes and I am sure it will be worth your while. You can trade in safety knowing you are with Foreign Currency Direct PLC, a firm trading for over 16 years and FCA registered.

If you would like my help, feel free to email me, Daniel Johnson, at dcj@currencies.co.uk. Thank you for reading.

Daniel Johnson

Euro predictions: Pound under pressure, rate north of 1.16

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If you’re looking for Euro predictions, you may like to know that Sterling exchange rates have been coming under pressure this week, after finishing last week in a very strong fashion.

The gains that we saw last Friday, following positive announcements regarding the cross-party talks between Conservative and Labour leaders, have now been wiped out. GBP/EUR has been testing the 1.16 level, although so far there appears to be support for the Pound at this level.

Conservative lawmakers have so far opted the leave the rules regarding leadership challenges as they are, and this has bought UK Prime Minister Theresa May some time. However, the talk of her position coming under pressure has softened the Pound’s value.

Will the Euro rise?

Mrs. May is expected to meet with leaders of the Conservatives’ 1922 Committee in the coming week, as the pressure mounts for her to announce her resignation date. So, this is a matter that could impact GBP exchange rates and should be monitored.

With regards to data releases, there will be none from the Eurozone before the end of the week. However, there will be the release of UK GDP data at 9.30am tomorrow. The expectation is for 0.5% growth for the first quarter of this year, and for 1.8% on an annualised basis.

There will also be Industrial and Manufacturing data releases out at the same time. So, it could be busy for GBP exchange rates tomorrow morning.

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. 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 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, Joseph Wright, on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.

Joseph W

Euro forecast: Bank of England to take centre stage

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If you’re looking for a Euro forecast, it may help you to know that financial markets have been gearing up for a busy Thursday, owing to the large amount of data set to be released by the UK’s central bank, the Bank of England (BoE).

No interest rate changes are expected to be made. However, the shear volume of data set to be released, along with the market commentary afterwards, has the potential to move markets. This is if any data surprises are released, or if the tone is more bullish or bearish than expected.

At midday on Thursday, the BoE’s interest rate decision will be released, with expectations for all voting members to vote to keep rates on hold. At the same time, the BoE’s Asset Purchase Facility will be released, and the Governor of the Bank of England, Mark Carney, will speak shortly after. Any forward guidance could result in market movement for the Pound, so feel free to get in touch with us if you wish to plan around this release.

When to buy Euros?

The GBP/EUR rate has been climbing slightly in the lead up to Thursday. This is apparently due to ‘behind closed doors’ talks between the Conservative and Labour leaders, regarding the Brexit withdrawal agreement. Those with a currency requirement involving the pair should be aware of this, as I would imagine that the agreed terms could result in a boost to the Pound’s value.

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. 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 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 (Joseph Wright) on jxw@currencies.co.uk and I will get back to you as soon as I can.

Joseph W

When to buy Euros? PM May’s position safe for now

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If you’d like to know when to buy Euros, it may interest you to know that, yesterday afternoon, the Pound to Euro rate hit day highs of around 1.1580, after seeing a slight upturn as the day progressed.

The reason behind the climb in the Pound’s value against the Euro, as well as against many other major currency pairs, can be put down to Prime Minister Theresa May’s position remaining safe, at least for now.

Recently, there have been calls from a grassroots level to amend a longstanding Tory Party rule, allowing for another vote of no-confidence regarding Mrs. May’s position. Yesterday, the 1922 Executive Committee of backbench Conservative MPs voted against amending the rule, so May will remain safe for now.

However, they have asked the Prime Minister to outline a timeline for her departure, after she previously mentioned that she doesn’t intend to stay on, once a Brexit deal has been arranged.

Pound Euro exchange forecast

Economic data is light for the remainder of the week so, like yesterday, politics will likely remain the key driver of currency fluctuations involving the Pound for the remainder of the week.

Next week on Thursday could be when economic data releases impact GBP exchange rates. This is when the Bank of England’s interest rate decision will be announced, along with a raft of other data releases and speeches regarding the economy.

If you would like to be updated in the event of a major market movement, or you would like to plan around this event, do feel free to register your interest with me.

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. 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 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 (Joseph Wright) on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.

Joseph W

Will the Pound to Euro exchange rate continue to drop?

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In today’s look at “Will the Pound to Euro exchange rate continue to drop?”, I’ll tell you that Sterling has begun to come under some pressure recently. The Pound has lost some value against the majority of major currency pairs over the past few weeks.

When the no-deal Brexit was ruled out, the Pound had been buoyed and hit annual highs against the likes of the Euro. However, since then the positive sentiment surrounding the currency has waned. The Pound has dropped by almost 3 cents versus the Euro, which demonstrates the Pound’s weakness.

Those of our readers following the GBP/EUR pair should also be aware that the current EUR/USD rate is trading around annual lows. This goes to show that the Euro isn’t strong at the moment, but the Pound is softening. Hence, the GBP/EUR price movement.

Pound to Euro exchange rate forecast

Sterling hasn’t been helped by the added uncertainty, now that the can has been kicked down the road regarding Brexit. With another 6 months of uncertainty regarding the UK economy, this is likely to have a negative impact on the Pound’s value.

The uncertainty has weighed on the Pound’s value as well as the UK property market. Yesterday it emerged that price growth has dropped to 0.6% year-on-year, which is the lowest growth rate in over 6 years.

With Brexit being pushed back, I think that economic data releases will be followed closely for signs of a slowdown. So if you wish to be updated if there is a major market movement, please feel free to register your interest with me.

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. 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 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 (Joseph Wright) on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.

Joseph W

Euro predictions: Brexit extension shorter than expected

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In today’s Euro predictions, we’ll examine how the GBP/EUR rate has slipped to the bottom of its recent trading range, after it was announced that the extension to Article 50 will be shorter than the markets had generally expected.

Last week, EU Commissioner Donald Tusk had outlined plans for a 1-year extension with the flexibility of leaving earlier, providing a deal was in place. It’s reported that German Chancellor Angela Merkel was comfortable with this, but French President Emmanuel Macron preferred a shorter extension.

The timeline met in the middle and there will be a 6-month extension with the flexible option. However, the shorter timescale has resulted in a slight weakening of the Pound’s value.

Should I wait to buy Euros?

Sterling has dropped across the board, not dramatically but it’s moved towards the bottom end of recent trading levels. GBP/EUR is now trading below 1.16, having seen some support at this level for a few weeks now. The GBP/EUR rate has now dropped by over 2 cents from its annual high, when the rate hit 1.18 for a brief moment.

However, despite this drop the pair remain closer to the annual high than low, after the pair hit 1.09 back in January, when the concerns of a no-deal Brexit were higher. Hopefully, this gives our clients and readers an idea of where they stand overall, should they have an upcoming currency exchange to make.

Brexit talks are now likely to remain the key driver of GBP/EUR values moving forward, and talks between UK Prime Minister May and the leader of the Labour party, Jeremy Corbyn, are likely to continue to hit headlines, as they could result in a breakthrough.

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. 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 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 (Joseph Wright) on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.

Joseph W

Sterling Euro forecast: EZ manufacturing shows contraction

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For today’s Sterling Euro forecast, we’ll examine how the Euro took a hit yesterday, following weak manufacturing data. There was a large contraction, which won’t help investor confidence. We witnessed figures of 47.5, and anything below 50 indicates a contraction. Falls were seen in several key countries, such as Italy, France and Germany.

The engine room of the bloc, Germany, took a particularly large hit, with a fall to 44.1. This is a 6-year low, dragging down the rest of the Eurozone’s manufacturing output.

The European Commission had predicted an increase in growth for Italy of +0.2% this year. This is complete opposite of the prediction from the Organisation for Economic Co-operation and Development (OECD), who are predicting a fall of -0.2%. This highlights how uncertain growth in Italy will be this year, which will be a cause for concern amongst investors.

It is not all doom and gloom, however. There has been a slight improvement in Chinese manufacturing data, which is good news for the global economy. China is remaining stable on the growth front, while the Eurozone outlook is looking worse, which could result in Euro weakness. The bloc seems to be bearing the brunt of the global slowdown, with Brexit also weighing on the common currency.

ECB set to add stimulus

Eurozone unemployment held firm in March at 7.8%, while Consumer Price Index (CPI) data fell to 1.4%, going against the general consensus. Inflation is still some way from the European Central Bank’s (ECB) target of 2%. The pressure is now on the ECB to try and stabilise the Eurozone economy, what with weak growth and low inflation.

The ECB, which has pumped around €2.6 trillion in bond purchases into the struggling economy, recently ceased Quantitative Easing (QE) in December. The ECB has stated that it will delay plans to normalise monetary policy and increase interest rates.

Euro rate prediction

It has been reported that the ECB will offer more cheap loans, in an attempt to boost economic activity. This is not a good sign that the economy is coping well without QE. This situation has the potential to weaken the Euro

Brexit will continue to be the key driver on GBP/EUR and, unfortunately, the situation remains in limbo. I think the likely outcome will be a lengthy extension, which I think would keep GBP/EUR at current buoyant levels. Or there might be a small increase in GBP value, as we take a rushed, botched deal off the table.

If you have a currency requirement I will be happy to assist. It is crucial to be in touch with an experienced broker when the market is currently so hard to predict. If you let me know the details of your trade, I will endeavour to produce a free trading strategy to suit your individual needs. Have faith knowing you will be dealing with a brokerage in business for over 19 years, Foreign Currency Direct Plc.

We are a no-risk entity, as we do not speculate on the market, and we are registered with the FCA. If you have a currency provider, take a minute to send over the rates they offer and I am confident that I can demonstrate a significant saving. I can be contacted at dcj@currencies.co.uk. Thank you for reading.

Daniel Johnson

Euro forecast: Will ‘meaningful vote 3’ be confirmed today?

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In today’s Euro forecast, the focus will continue to be the Brexit discussions in the House of Commons. This is because, although today was the previously-expected official Brexit departure date, the details of the UK’s divorce from the European Union are yet to be finalised.

The extension is expected to last for at least 2 weeks, up until the 12th of April. The EU has previously warned that if a deal isn’t in place by then, there will be no scope for further extensions. So, Parliament will be keen to try and rectify the matter as soon as possible.

The discussions today will surround Prime Minister Theresa May’s withdrawal agreement and also alternative options, I would imagine. This is because, earlier this week, indicative votes on alternative arrangements failed to result in a clearly favoured option.

When to buy Euros

The biggest influence on GBP exchange rates at the moment remains this subject. This has been the case for much of the last 2-3 years. If May’s deal is voted in favour of, there will be an extension to the 22nd of May. So, it’s worth following today’s events in Westminster. If there is another confirmed vote on May’s deal then that would be the third, so perhaps it will be third time lucky for her.

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. 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 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 (Joseph Wright) on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.

Joseph W

GBP/EUR rate climbs after EU opens door for Brexit extension

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The Pound has staged a minor comeback this morning, as it has hit 1.1607 at its highest level. This is after a sell-off of the Pound’s value yesterday, that saw the GBP/EUR rate drop into the 1.14s for the first time in almost a month.

Late last night, European Council President Donald Tusk announced that all 27 European Union leaders have agreed to extend Article 50, as requested by UK Prime Minister Theresa May.

However, the length of the extension will depend on whether or not MPs vote in favour of May’s Brexit deal. So, despite the chances of a no-deal Brexit decreasing, there is still plenty of uncertainty. This is likely to impact the Pound’s value, moving forward.

As it stands, if MPs vote in favour of May’s deal, the extension will run from March 29th until May 22nd. If May’s deal is rejected for a third time, the extension to Article 50 will only run until April 12th. This will leave MPs with the choice of a no-deal Brexit or a much longer extension.

The latter could perhaps be favoured by the markets. This is because, although they generally dislike Brexit and uncertainty, I think that the longer option would perhaps include another referendum on the matter.

Up until now, the EU leaders have made it clear that they favour another referendum and also avoiding a no-deal departure. I think that, if another referendum is announced, we will see the Pound jump in value.

Pound to Euro forecast next week

Next week could be busy for the GBP/EUR exchange rate. Market volatility has increased in the lead up to March 29th, owing to the uncertainty of the situation. If you wish to be notified if there are major market movements, do feel free to register your interest.

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. 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 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, Joseph Wright, on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.

Joseph W

GBP/EUR Predictions: May to Request Brexit Extension

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GBP/EUR – Although many factors dictate GBP/EUR value, the key driver at present is Brexit. There have been rumours circulating that Brussels may give concessions on the Irish border. This is because the Speaker of the House of Commons, John Bercow, has told May that unless changes are made to her current deal, it will not be put before Parliament for a third vote.

If this is the case, I would expect Sterling to rally on Thursday, and potentially break the 22-month high of 1.1805. However, the UK PM has asked for an extension, in a letter sent to the EU Council President, Donald Tusk. This is now the more likely topic to consume time in negotiations. May is expected to ask for an extra three months, bringing the deadline to 30th June.

Yesterday, the EU’s chief Brexit negotiator, Michel Barnier, said a delay would not be approved “without a good reason”. Barnier urged people to “finalise all preparations” for a ‘no deal’ scenario. He went on: “It is our duty to ask whether this extension would be useful, because an extension will be something which would extend uncertainty, and uncertainty costs.”

Is this just posturing? Or could we now be realistically looking at a ‘no deal’ situation?

Is the Euro going up or down against the Pound?

I still believe the chances of a ‘no deal’ are slim. I would expect Sterling to remain at its current buoyant levels if we are given an extension, while a late deal could push us over 1.20, a key resistance point in the past.

If you are sitting on Euros, waiting for a significant movement in your favour on EUR/GBP, I think you may be betting on a long shot. You are essentially banking on a ‘no deal’. Although the threat is still there, I do not believe either side will allow this to happen. I think if we are facing a ‘no deal’, an extension will be called. If you are sitting on Euros, it may be wise to take advantage of current levels.

If you have a pending currency transfer, let me know the details of your trade, and I will endeavour to assist. There is no obligation to trade by asking for my help, and I will provide a free trading strategy to suit your individual needs. If you do wish to try our service, you can trade in the knowledge we are a no-risk entity, as we do not speculate.

Foreign Currency Direct PLC has been in business for over 18 years and we are registered with the FCA. If you already use a provider, I can perform a comparison within minutes. I am confident I will demonstrate a considerable saving. I can be contacted at dcj@currencies.co.uk.

Daniel Johnson