Tag Archives: Euro exchange rates
The current trend on GBPEUR is downward. If you are looking to buy euros in the next few months you should probably buy quite soon to avoid disappointment. There is a very strong likelihood the euro is going to continue to strengthen against the weaker pound.
The current downward trend on rates is very much in motion and whilst there will be small spikes to take advantage of, the likelihood is that the rates will continue to fall. The reasons? There is now a strong belief despite the problems in Europe, they will solve their problems in the long run. Whilst rates are bound to climb again in the future, this may not happen for a very long time.
Rates have still not settled and daily we are seeing movements of anything from 1-2 cents. 1 or 2 cents on a large volume of currency makes a huge amount of difference and this is where we can help pointing out the highs and lows on the market.
I have had some clients getting in touch who have been holding out this year waiting for rates to go back to 1.20! I am sorry to upset you but it just doesn’t look likely right now. If you are completing on an overseas property soon or are paying euro invoices soon it would be wise to consider moving soon, as well as all your options. Euro strength and sterling weakness have combined to spoil the dreams of overseas property hunters and anyone buying goods overseas. Why take the risk? Rate will probably climb again but realistically it could take years to go back up to 1.20.
Talk of GBPEUR reaching parity and certainly 1.10 are all over the media and I think it is fair to say the rates will drop further before they pick up. The flipside of this of course is good news for those selling euros. If you are selling euros the time now is excellent and may improve further. Speak to me about ensuring you don’t miss out on these highs and to find out how using our service works!
It is often the greedy who get their fingers burnt so to speak with a specialist about all of your options buying and selling euros please speak to me Jonny on email@example.com. A quick email with details of your situation plus a contact number means I can provide information on your options making your life easier and less costly.
I look forward to hearing from you
With GBP EUR exchange rates trading close to their lowest level since November 2011 it is difficult to know if Sterling will recover from its large drop against the single currency seen in January of over 6%. UK Services PMI data in January was better than expected at 51.5 from 48.9 the previous month but this positive data did little to boost the Pound.
With the services sector accounting for about 75% of UK’s GDP this should surely be positive for the UK and therefore the Pound. However, comments made by the ECB have claimed that they see ‘little risk to economic recovery.’ The political rhetoric coming from the continent continues to be extremely pro-Euro which has seen the single currency maintain its recent strength.
Tomorrow future BoE governor mark Carney will be meeting with the Treasury Select Committee and with a recent run of poor data in the UK there is an outside chance of the Bank discussing more Quantitative Easing. Sterling is the lowest against the US Dollar in 6 months and investors appear to be bypassing Sterling in favour of the Euro. The Euro is being mainly supported by Germany even though data coming from France, Spain and Italy has shown them all contracting. As the dominant country in the economic area as long as Germany maintains its strength this could be reflected in the Euro exchange rates.
Although we have seen two bouts of recovery for the Pound during this week most pointers are that Sterling will continue to fall. Unless the MPC has something positive tomorrow my expectations are that Sterling will drop towards the end of this week. For further information about how to save money whether you’re buying or selling Euros feel free to contact me Tom Holian firstname.lastname@example.org
This afternoon Euro exchange rates regained all of the lost ground and more so from yesterday’s trading, pushing back towards 1.15 against the poound and 1.36 versus the US dollar – this came as news filtered through the markets that the European economy seems to be recovering but the gap between its two biggest members is widening. This was according to a survey onthat showed business optimism in the bloc was at an eight-month high.
Markit’s Eurozone Composite PMI, based on business activity across thousands of companies, and a good gauge of economic growth, rose in January to a 10-month high of 48.6 from 47.2 in December – an improvement on the preliminary reading of 48.2. This pushed the Euro down from the day high of 1.1690 to the day close at 1.1525 – this made a difference of some €3,300 on a £200k money transfer in a matter of minutes.
Currently this market is proving to be extremely volatile. It is currently not uncommon to see the market swing anywhere between 1-2 cents each day making it extremely difficult to forecast the next market move. For this reason it is becoming increasingly more important for clients to keep in regular contact with their broker. We are here to keep our clients up to date with market trends and have a number of tools to help safeguard and guarantee a particular rate of exchange for delivery at a pre-agreed maturity date. Should you wish to discuss the current market and how this may affect your individual requirement then please do not hesitate to contact me (Mike) at email@example.com
Euro exchange rates have remained relatively stable against the pound today but have fallen over 0.5% against the US dollar today as traders and investors still eagerly await the outcome from the US ‘Fiscal Cliff’ – will they come to an agreement before the 31st? In my opinion they will but what is this likely to do to exchange rates? In theory you would expect it to certainly benefit the dollar but this may not be the case. What is really driving the markets still in my view is global confidence and risk appetite, should the agreement go through this is likely to increase risk appetite and with the US dollar still the currency of choice as far as a ‘safe haven’ is concerned, then an increase in confidence may well cause a sell off from dollars to the riskier assets of the AUD, NZD, ZAR and to a degree the Euro. This could in fact cause an increase in demand for the Euro and hence an increase in value. Anyone looking to buy GBP or USD’s with Euros may well see some great opportunities in the short term.
Should you have any thoughts on this blog or would like a more detailed forecast then please do not hesitate to contact me (Michael Vaughan) on 01494 787478. As a specialist foreign exchange broker I would be happy to give my thoughts on the current market conditions to help you make an informed decision with regards to your individual trade. I can also happily source you a commercial rate of exchange to maximise your position and undercut any quote you may have been given elsewhere. To get more information with regards to the service then email me at firstname.lastname@example.org
Euro exchange rates have been rallying of late bringing levels close to 6 month highs against Sterling and the US dollar. Rates have been particularly strong against the greenback with the ongoing ‘Fiscal Cliff’ debate causing much uncertainty in the US. For anyone buying dollars this may well prove an opportune time as should an agreement be reached, a situation that I would expect to happen, then we could see EUR/USD test the 1.30 level. As for GBP/EUR – latest inflation figures from the UK came in at their highest in nearly 3 months and this will make tomorrows Bank of England minutes interesting reading. The minutes are due for release at 09:30 and should be keenly viewed by anyone looking at the pairing of GBP/EUR as clues from the minutes will give analysts thoughts on the Banks approach heading into the New Year. Should we see any talk of further monetary easing through the us of Quantitative Easing (QE) then I would expect GBP weakness and Euro strength, and the reverse if it looks as though any future QE will be delayed. Personally I think we will see QE in the first or second quarter of 2013 and I think tomorrows report will give little away and would expect slight GBP strength as a result.
Elsewhere Euro buyers and sellers should keep an eye on German IFO business climate data at 09:00. This is closely watched as is a good indicator to current conditions and business expectations in Germany. With Germany being the heartbeat of the single currency this data can cause market volatility for Euro exchange rates.
As a broker for one of the UK’s largest independent money brokers we are here to assist private and corporate clients alike achieve the best for their foreign exchange. We help thousands of clients save upwards of 2-3% when compared to the high street banks. Should you have an upcoming money exchange to arrange and you would like to get an idea as to how the service works then please contact the office on 01494 787478. I will happily provide you with a price and am very confident I can save you on your money transfer, whether you are comparing against the high street banks or other institutions. Should you wish to email me (Michael Vaughan) I can be reached at email@example.com
GBPEUR is testing the lower levels seen this year as investors fears over the Euro crisis subside and hope builds for 2013. It looks like the trend will only persist towards the end of this week and into the New Year. If you are considering any currency transfers involving buying the Euro it may be wise to act sooner rather than later to avoid disappointment.
This is because whilst the economic conditions remain troublesome in Europe, the more worrying immediate concerns are in the UK. Everyone is well aware of the problems the Eurozone is facing and the wide ranging measures announced by Mario Draghi and ECB should help prevent the worst case scenarios. Therefore attention is focused on the pound and problems in the UK.
It looks like the future is still very uncertain for the UK and we will find out this week further news of just how the UK is faring. GDP data, Retail Sales and the Bank of England Minutes are all data releases which could easily move the market one way or the other. Personally I feel this will be negative for the pound and we will see a continuation of the losses the GBPEUR rate has been through this month.
If you have any questions or queries over the markets or the service which we can provide please feel free to get in touch directly with me Jonathan Watson on firstname.lastname@example.org or call 01494 787 478.
The Euro has continued its fantastic bounce back against the pound and USD this morning. There has been so much going on this week with events in Germany and the US boosting investor confidence which has caused the Euro to rise to a 4 month high against the USD and a 2 month high against the pound. If you are selling Euros and wish to capitalise on the strength of the Euro you may email me at email@example.com and I will explain the options that are available to you.
The ECB monthly report was released yesterday morning stating that they left their interest rates at 0.75% this month due to the fact that Economic growth in the Eurozone should remain anaemic and heightened uncertainty will continue to weigh on market sentiment.
The main story for the Euro this week though has been how Germany’s top court on Wednesday backed the euro zone’s new rescue fund, which helped boost investors’ confidence in the European currency. If the ECB’s plans to buy unlimited bonds continue to boost the Euro sterling could be trading another 2-3% down from where we are currently at. Great news for those of you selling Euros, but for those that require buying Euros I truly believe that a forward contract will give you much more peace of mind.
Events in the US last night also contributed to the Euro strengthening as it has boosted global confidence and the riskier currencies like the Euro and the southern hemisphere currencies have gone from strength to strength. For thise looking at buying Euros be cautious. We have had some excellent buying opportunities over the last 2 months and if you have not secured your funds by now you may wish to act soon as you do not want to be trading below 1.20 if teh pound continues to fall against the Euro.
For a small deposit you can secure the currency that you require on a forward contract. If you do not have full funds available immediately or if you do not require them straight away this is a great way of giving you peace of mind with your exchange. The rates of exchange are still very attractive with this contract and you will find that your high street bank will not tend to offer this type of contract to private clients. So using a specialist broker like ourselves mean that you can achieve the same type of rates and contracts that corporate clients get. If you would like more information on this or how you can limit volatile exchange rate fluctuations then please do feel free to contact me at firstname.lastname@example.org