Tag Archives: gbpeur forecast
Bank of England & European Central Bank Keep Interest Rates on Hold (Matthew Vassallo)
Thursday has seen some major moves in the currency market, following a busy day of economic data releases. The EUR seems to be holding on for dear life against the Pound at the moment, although we have seen GBP find a lot of resistance around 1.18. In contrast however the single currency has surged against the USD, moving over 2 cents from the low of the day and providing USD buyers with some of the best levels on the currency pair this year.
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.
How do I know I am getting the best deals on pounds for euros? Speak to us!
Foreign exchange is one of the most overlooked areas of foreign property. All too often both buyers and sellers alike will go to great lengths to negotiate the price and fixtures or fittings of a property then neglect to consider the impact of foreign exchange fluctuations.
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
Will GBP/EUR Reach 1.20? (Matthew Vassallo)
The recent GBP/EUR rate fluctuations mean trying to predict which direction the currency pair will take next is becoming increasingly difficult. For months we have seen both the Pound and the EUR make inroads against each other, only for any developing trends to be extinguished at the first sight of trouble. Add to this various predictions ranging from 1.05 -1.30 and we are left scratching our heads wondering who to believe and when to change our currency.
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.
Rates improve for Euro sellers, GBP weakness
A run of poor data for the UK has created some excellent conditions to sell Euros for GBP. The rate is currently at a 4 1/2 week high for selling euros versus pound sterling. It is possible rates may even get better of the UK data continues to disappoint.
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
Potential UK Recession Key for GBP/EUR Rates (Matthew Vassallo)
Bad news for the UK economy seems to be a regular occurrence of late and the situation continues to look bleak as we head into a key period for GBP/EUR exchange rates. The EUR has tried to strengthen amid this negativity but is constantly hampered by its own economic problems, which are deep rooted throughout the Eurozone economy.
It is almost a guarantee that we will hear of further unrest, whether it be in Cyprus, Ireland or one of the larger nations such as Spain, Italy or France. All have the ability to create another global financial crisis if their economies were to collapse and at times the Eurozone seems as if it is held together by nothing more than empty promises and increasingly harsh austerity measures.
As mentioned above the coming weeks could prove crucial to the short to medium-term outlook of GBP/EUR. The 25th of April should be a key date in anyone’s diary who has a GBP/EUR requirement, as this is when we will find out whether the UK economy falls back into official recession. Whilst these figures could well be revised, the initial market may well mirror these results. I cannot see GBP gaining much momentum even if we do avoid recession, although there will be an element of market confidence returning to the Pound and it shouldn’t lose any more value. If we do in fact find ourselves back in a recession the Pound will struggle to make any serious inroads against the major currencies and provided the Eurozone doesn’t throw up any nasty surprises (something which sounds unlikely given the recent history), then we are likely to see Sterling move back towards 1.14.
Here at Foreign Currency Direct plc 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 we can offer, or need to be kept up to date with all the latest market movements then please call us on 0044 1494 787 478.
When should I buy Euros?
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 jmw@currencies.co.uk. 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
GBPEUR Forecast 18/02/13 – 22/02/13
GBPEUR FORECAST – GBPEUR will continue to make large moves, have you made provisions for this market?
GBPEUR has not really found its feet so far this year and I see no reason this uncertainty won’t continue. Movements over 1% in a day will continue, have you made provisions for this market?
Since the start of the year buying €200,000 has become £12,115.40 more expensive. With the possibility of triple dip recessions, the UK leaving the EU and confidence largely returning in Europe it is likely this current bad run for sterling, particularly against the USD and Euro, is far from over. The CBI (Confederation of British Industry) last week predicted the UK will actually avoid a triple dip recession but as Friday’s Retail data showed snow and flooding last month has had a negative impact so far this quarter on economic growth. The pound looks likely to continue to struggle in the future therefore.
GBPEUR this week will probably drop lower by a cent or so
This week we have the Bank of England Minutes on Wednesday. Historically these have the power to be GBP negative and I would not be surprised to see the pound suffer Wednesday morning due to further negative news surrounding the UK economy. If you are considering any transfers involving the pound this could be the day you see your movement and be a good time to enter the market. It may also provide more of an indication of where the rates will go in the future.
If you are sick and tired of poor exchange rates and bad service from your bank why not find out if there is a better option? (There is, I can pretty much guarantee it). Even if you think you are getting a good deal I am very confident I can offer something better. Please contact me to find out more on jmw@currencies.co.uk or call 01494 787 478 and ask to speak to me Jonny. I look forward to hearing from you and personally helping you with the best deal.
