Tag Archives: gbpeur

Euro rate Forecast – Will the Euro remain this quiet for long?

June 18, 2013   Economic Information, Euro Strength, euro weakness, Media Quotes, The Week Ahead

The Euro is enjoying a period of relative calm at present which is surely not going to last. Attention is currently focussing on the United States and whether or not we will witness further QE in the future. Whilst domestic demand in the US is improving it may be the decreasing demand from Europe and China which ultimately will lead to the injection of more QE.

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

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When will the Euro weaken?

June 12, 2013   Economic Information, Euro Strength, euro weakness, Media Quotes, The Week Ahead

The Euro is remaining strong despite mixed data of late. Germany has been enjoying better than expected economic data but the overall economic picture in the eurozone remains bleak. This is bound to at some point cause further euro weakness but for now investors attention is very much on the global outlook and trying to second guess the Federal reserve in the US.

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 

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Sterling Euro Exchange Rates Today (Tom Holian)

June 10, 2013   Economic Information, euro weakness, The Week Ahead

Sterling Euro has remained in a tight trading range today as data is limited. Tomorrow is the day where we’re expecting a little more volatility on the currency markets as the UK releases production data for both Industrial & Manufacturing sectors. Later in the afternoon the NIESR publishes its GDP estimate which is likely to influence the markets. With the recent release of positive data for the UK I would not be surprised to see this continue tomorrow and therefore push Sterling Euro requirements in an upwards direction.

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

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How do I know I am getting the best exchange rate on GBP to EUR and EUR to GBP? Make a totally FREE comparison with us!!!

June 5, 2013   Economic Information, Euro Strength, euro weakness, Media Quotes, The Week Ahead

Simply email me on jmw@currencies.co.uk or call 01494 787 478 and ask to speak to me Jonathan quoting ERF. We undercut banks by up to 5% and other brokers by anything from a quarter of a cent to one or even two cents. The Euro has come under renewed pressure which means the market for sellers could easily get much worse in the short term. I expect the mid market price to be over 1.18 by the end of this week.

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

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How do I know I am getting the best deals on pounds for euros? Speak to us!

June 3, 2013   Economic Information, Euro Strength, euro weakness, Media Quotes, The Week Ahead

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

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Will the Euro go back to 1.50 or even 1.60 one day?

May 20, 2013   Economic Information, Euro Strength, euro weakness, The Week Ahead

GBPEUR hit a high point some years ago touching over 1.60! This high point then dipped into the 1.50′s and once the financial crisis hit the UK, the pound crashed and GBPEUR with it. The rate dropped from 1.48616 in August 2007 to 1.2326 one year later. And then by December of 2008 we hit 1.02, the lowest ever recorded… Good for sellers, bad for buyers.

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

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Currency transfer to consider soon?

May 17, 2013   Economic Information, Euro Strength, euro weakness, Media Quotes

Finally rates for clients buying Euros have improved. If you are buying Euros we are back at the best levels since January to be considering an exchange. Buying €200,000 is now some £5963 less costly than it was a couple of months ago.

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 

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A host of data releases today have the potential to be market movers (Alistair Ryan)

May 9, 2013   Economic Information, Euro Strength, euro weakness

Today has the potential to be a busy day for GBP/EUR rates with a host of key data releases due to be released. First up at 9am we have the European Central Bank (ECB) Monthly Report. This release will contain how the ECB feel about the current economic situation in the Eurozone and the economic outlook. This always has the potential to move the markets if the ECB announce anything that was unexpected. Following this at 9:30am we have production figures for the UK. This gives a good overall indication of strength within the UK manufacturing sector. If this comes out either above or below the expected -1.6% then I would expect some short term Sterling strength or weakness respectively.

Arguably the biggest release of the day will be The Bank of England Interest Rate Decision at 12:00pm. I personally expect this to be a non event and have very little effect on the markets but for anyone who knows how the markets move they will know that an interest rate decision always has the potential to be a major market mover. It is my opinion I think that the BoE will keep interest rates on hold at 0.5% as we still have a very poor growth forecast. This will be followed by an announcement on whether we will see further Quantitative Easing (QE) in the UK. Quantitative easing is generally seen as negative towards a currency as it increases supply. Again, I can’t see the BoE announcing further QE this time around but these announcements are definitely worth keeping an eye on for anyone who has an upcoming GBP/EUR requirement.

We have a number of different contract options here that can help you safeguard your funds against adverse market movements. If you would like to speak with one of our knowledgeable, professional currency brokers then please feel free to contact me direct at atr@currencies.co.uk

 

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Has the pendulum swung too far for euro strength? Thursday will be key…

April 30, 2013   Economic Information, Euro Strength, euro weakness, Media Quotes

One of the most common questions I am asked is why is the euro so strong? Daily we hear new bad news from Europe concerning the economies using the euro. Lower growth forecasts, rising unemployment rates and uncertainty as to exactly how all of these problems will be dealt with, receive much media attention everyday.

The reasons for euro strength are quite simply the fact that there is a belief the problems will be worked out. The eurozone as a whole is a massive economy and investors are confident that in the future conditions will pick up and the economies will return to growth. This belief has been epitomised by Mario Draghi, President of the ECB (European Central Bank) who has declared everything will be done to save the euro.

That ‘belief’ came back to the market 7 months ago when he made a speech in London using carefully chosen words. The euro which had been in free fall against all currencies quickly found footing and the ‘belief’ became self fulfilling as lowering bond yields for Spain and Italy encouraged more investment into Europe.

This Thursday is shaping up to be a very interesting day and may be the day that finally the pendulum of euro strength begins to swing in the other direction. Worrying unemployment number in Spain (getting worse) suggest much worse could soon be on the cards for the euro. The Interest rate decision Thursday is when we may finally see confidence falling for the euro. Investors patient for the last 7 months may soon start to become concerned at the lack of progress and the deteriorating problems.

It is unlikely the euro will break up in my opinion, in the short term at least. However the rise of anti austerity and extreme parties in politics is a dangerous trend that will soon surely manifest in weakness for the euro.

If you are planning a transaction involving the euro keeping up to date with the latest news could be key. As specialist currency brokers we offer guidance on the best time to transact currency exchanges, plus a commercial rate when you do so. For more information on how using our services works (even if it is just a one-off) please contact me Jonny directly on jmw@currencies.co.uk

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Important week for anyone considering buying or selling euros? Will the ECB cut rates?

April 29, 2013   Economic Information, Euro Strength, euro weakness, Media Quotes

Once again we have a week with a piece of data for which there is uncertainty as to an important decision. This is important because it makes it very difficult to predict what will actually happen and henceforth if you are considering a transaction buying or selling euros you could get caught out.

Last week on Thursday the UK GDP (Gross Domestic Product) data showed us that the UK was not in a recession. This caused the pound to soar by a cent and a half on the euro which was already weakened due to poor unemployment figures.

This week is important because on Thursday the European Central Bank (ECB) may consider cutting their base interest rate. The prospect of a cut caused the euro to weaken this month and there is a fairly good chance we could see on this Thursday.

Why is an interest rate cut important? An interest rate cut weakens the currency concerned. Much like a higher or lower interest rate on a bank account will attract or detract investment, the prospect of lowering or raising rates by a central bank typically weakens the currency concerned.

So.. If the ECB cut rates we could see the euro weaken. This possibility has been slightly priced into the market but if it does happen, we could see the euro weaken by as much as two cents. If the ECB do not cut rates then the euro will probably strengthen against the pound and dollar by a cent or so, maybe more.

Getting the best deal on your foreign exchange transfers is no easy feat but you can give yourself an upper hand by making sure you are well informed. As a firm of specialist foreign exchange brokers we can offer guidance on what is happening in the market and steps you can take to ensure you don’t miss out.

Compared to last year the euro is trading at excellent levels against sterling despite recent developments. And on the flipside it has recently been the best time to buy euros since January. This week’s data could easily change the current situation so if you would like to find out more about of all of your options, please contact me Jonny directly on 01494 787 478. Or you can email me on jmw@currencies.co.uk 

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Not a lot of data out but GBP/EUR rates are still on the move (Alistair Ryan)

April 10, 2013   Economic Information, Euro Strength, euro weakness

It has been a fairly quiet week this week with regards to data releases concerning Sterling and Euro yet we have still seen GBP/EUR rates range between a low of 1.1684 and a high of 1.1822. I think this shows just how volatile the markets are at present, with a lot of uncertainty surrounding both the UK and the Eurozone, and until we see some light at the end of the tunnel for both parties I can imagine that this volatility will continue.

After seeing some positive data for the UK come out yesterday, in the form of The National Institute for Economic and Social Research estimating that the UK economy grew by 0.1% in the first quarter of 2013, we still saw GBP/EUR rates slowly decline. If the NIESR are right then this could have a huge impact on GBP/EUR rates at the end of the month when UK Gross Domestic Product figures are released as this would mean that the UK has avoided a Triple Dip Recession.

As I mentioned before I can’t see this heightened volatility ending any time soon, it seems that every week there are rumours of another Eurozone country heading towards total collapse and the UK isn’t exactly shining at present. There is still the possibility of the UK heading in to a recession and with regards to the euro, countries such as Spain and Cyprus are still very much struggling and not in the clear.

With markets moving every two seconds it is very hard for you to find the opportune moment to transfer your funds but we can be your eyes and ears on the market so you don’t have to worry about that side of things. We have a number of different contract options available to safeguard your funds against any sudden market movements. To speak with one of our professional, specialised currency brokers then please contact me direct at atr@currencies.co.uk `

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Sterling Falls even after NIESR announce UK Growth (Tom Holian)

April 10, 2013   Economic Information, Euro Strength

The National Institute for Economic and Social Research yesterday claimed that the UK has avoided recession in the first quarter of 2013. This would make a triple dip recession unlikely but until the official figures come out towards the end of the month it is important to take this data with a pinch of salt. Indeed, the currency markets did not necessarily welcome the news as GBPEUR exchange rates fell below 1.17 yesterday and has opened this morning slightly lower.

The estimate thought that industrial production in the UK during February picked up as well as an increase in manufacturing but my personal thoughts are that as the weather has been so bad since the turn of the year I think we will see some poor retail sales figures announced shortly which could see Sterling exchange rates falling.

Last night the US Treasury Secretary Jack Lew has asked countries to do more in order to increase economic activity and therefore growth in an apparent dig at Germany. Germany seems to hold the key to the future of how Europe may perform as Lew believes that the ongoing problems in the Eurozone are causing concern for the US. However, all is not that rosy in Germany as exports fell in February as did imports which shows demand in Europe’s biggest economy is slowing.

In terms of exchange rates keeps your eyes on the minutes from the FOMC in the US tonight as this will give us a sign as to whether the Fed is thinking of changing economic policy. Any good signs for the US could see a fall in the value of the Euro creating some good short term buying opportunities if you need to buy Euros.

For further information and to receive a free quote please contact me directly via email Tom Holian teh@currencies.co.uk


 

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