Tag Archives: the best deal on euros against the pound

Big day looms for GBP/EUR rates

The Euro has today recovered some of its losses against the pound with GBP/EUR back down at 1.2560. The trend is still Euro positive so if you have Euros to sell our recommendations are to look at your exchange in the near future as the rates could continue to go against you if buying sterling.

Tomorrow could be a volatile day for GBP/EUR as their is a host of data out from the UK most importantly the interest rate decision out at midday. There has been a lot of talk about when interest rates will rise in the UK. This being the main contributing factor to the pound rising so significantly of late. We are not expecting a change in rates tomorrow but if the unexpected happens the pound could rise. We also have all of the trade balance figures for the UK which could be a bigger market mover than the interest rate. A healthy number will surely be GBP positive.

In Europe there is the ECB monthly report. They will discuss the current economic situation in Europe and as things have not been going to well a dip in the value of the Euro is expected. his will be good for Germany as the lower the Euro goes the better it is for their exports.

If you are buying Euros I would be exchanging your funds on spikes in the market to keep capitalising on the favourable rates. If you require buying or selling the Euro then you may find out more about our service by emailing myself Ben Amrany at bma@currencies.co.uk 

Thank you for reading

Ben Amrany

The Euro is being contained for now, when will it break into some fresh territory?

A dramatic few weeks on the Euro have seen the exchange rate at some of the worst levels against sterling since 2012. If you need to sell Euros the knee jerk reaction to the fact is probably to hold on but this could turn out to be a very bad decision if the exchange rate continues to move against you. The Euro has not really broken out of these ranges lately and we could easily see a return of fortune but I would not expect it would last long. I feel the best strategy for anyone buying or selling Euros is to sell on the dips in your favour, our specialist service is designed to help you maximise the exchange rate for any transfers that you need to make.

Next week we have the Eurozone Interest Rate decision and European Central Bank (ECB) Press Conference, this could easily affect the  current Euro exchange rate but these kind of levels should not be easily dismissed. It is a 20 month buying euros which is making overseas property and doing business with foreign customers much more attractive.

For the very best rates of exchange and information specific to your exchange please contact me jmw@currencies.co.uk

Euro Rate Forecast

To readers who have euros to sell and wish to buy sterling I would not hang around too long. The recent dips in your favour today and yesterday should definitely in my opinion be viewed as a good time to sell. The longer term forecast clearly appears to favour the pound over most currencies and whilst exchange rates are not as good as they were some months and years ago, there is a very strong likelihood it will get worse.

If you need to sell euros for the pound soon or in the future it is probably a good idea to consider a forward fix on the rates to help further reduce the uncertainty. The longer term forecast for the pound is that the UK will raise interest rates well ahead of the rest of the US and the ECB which should result in much higher rates in the future. The big questions of course is when exactly this will happen, some have forecast the move this year for the UK, others early 2015.

For more information on the exact price we could offer to you why not make an enquiry direct with me Jonathan on jmw@currencies.co.uk

 

How will the Euro react on Thursday?

At the last ECB meeting Mario Draghi saved any new news until the press conference. At which time the market dropped from 1.2165 to 1,21 before soaring over 1.22… Such movements are not too common on the currency markets and can present some rare opportunities for savvy buyers and sellers.

The expectation is currently the ECB will cut their base interest rate and also look at some form of liquidity measure for the bank. LTRO (Long Term Refinancing Operation) is a mechanism that essentially lends money to banks at a favourable rate and term to allow them  maneuverability in conducting their activities. It is not quite Quantitative Easing but is not a million miles away.

Usually you would expect this to trigger significant weakness but as the event has already been priced into the value of the currency this is unlikely. Assuming the ECB actually goes ahead with these measures we should expect little movement on the rates. What would be more interesting is if they talk of future activity in the Press Conference which could serve to weaken the Euro. If they don’t follow through with any action the Euro may strengthen but it could also weaken as investors lose confidence in Mario Draghi and his approach to this siutation.

If you need to make a foreign exchange payment I have many years experience managing client exposure to the currency markets and can offer assistance with timings and the best way to move money internationally.

Please email jmw@currencies.co.uk

Next week will be busy on GBPEUR, have you made any preparations?

The big driver I feel on the Euro could be the shift in sentiment as it becomes apparent the Federal Reserve in the US may raise interest rates ahead of the Eurozone. This shift in sentiment is I feel already being represented on EURUSD and the rate cut may only serve to underline this trend.

There is perhaps some scope for slightly better Euro selling rates should sterling come unstuck but on the whole I think if you are selling euros moving sooner or selling on the dips is best. The market has largely priced in a small interest rate cut next week for the Eurozone. I don’t personally see much scope for Euro weakness as this is all largely being factored into the rate.

It is by no means set in stone the ECB will cut interest rates; there are other avenues of action available. One of the key features of ECB policy has been worries the Euro is too strong. Since the last ECB meeting it has weakened some 2 cents against sterling and 4 cents against the dollar. Mario Draghi has a great way with words, his comments effectively underpinning Euro strength since the summer of 2012.

 

If you wish to get more information or trade please contact me Jonathan on jmw@currencies.co.uk

Euro Volatility! What will happen to your transaction?

The currency markets are sometimes very difficult beasts to predict and today was an example of just how unpredictable the markets can be! The GBPEUR rate has moved from 1.2122 to 1.2241. Such a high to low difference on a £200,000 purchase of Euros represents a €2380 difference in the amount of currency you would have achieved. Whilst this is the high to low movement of the day these movements happened within the space of about an hour!

So why did we such big movements? Well as we have been writing on this blog and our partner sites, today was always bound to be a volatile day on the GBPEUR exchange rate. Mario Draghi President of the ECB (European Central Bank) stated that he foresaw improvements in the Inflation and growth situations in the Eurozone, only to reaffirm that  the “Governing Council is ready to act at the meeting in June” subject to the next round of Inflation data due.

This puts yet more pressure on the upcoming economic decisions in the Eurozone and is something to seriously take on board if you have any currency transfers involving the Euro in the future. For more information please contact me Jonathan directly on jmw@currencies.co.uk

Inflation is set to remain a problem in the Eurozone

Today was a very important day for the Euro with many different regional releases for the countries that make up the Eurozone. German Retail Sales released showed negative contractions for figures both expected to be positive, German Unemployment came in as expected but did not improve.

The overall Eurozone Inflation print today is the key topic for me if you need to buy or sell Euros this really is an important release to take note of and beware of in the future. On balance following yesterday’s deflationary figures for Germany I would personally be predicting Euro weakness post this release, possibly providing even better rates for Euro buyers.

The ECB has forecast improvements in the Inflation outlook but if prices keep falling there is a possibility of the ECB looking at Quantitative Easing (QE) or even negative interest rates. This would all be rather damaging for the Euro which on a trade weighted basis is still strong at present.

By making us aware in advance of your transaction we can highlight favourable movements and provide alerts so you don’t miss out. Please contact me Jonathan on jmw@currencies.co.uk for more information.

Next week is very important for the Euro

Greece was positively in the headlines yesterday as Greek bonds were 8 times oversubscribed by investors. Greek debt was one of the causes of Euro weakness which two years ago saw the Euro plummet. Yesterday’s news marks a turning point and could underline a renewed round of Euro strength depending on some other issues.

This morning’s German CPI Inflation data has shown no changes which has given the Euro a small lift. Spanish CPI just released has fallen slightly. With Inflation fast becoming a major headache for the ECB, this is the key topic. There have been numerous discussions of late about extra measures the ECB will take if the overall figures fall.

Next week on Wednesday we have the all-important CPI Inflation data for the Eurozone. This is a very important release and anyone with a Euro requirement ahead of this may wish to assess their position.

The ECB has forecast improvements in the Inflation outlook but if prices keep falling there is scope for some kind of monetary easing which would likely weaken the Euro. GBPEUR and EURUSD have been fairly flat and range bound in the last few months, this could be a trigger to higher or lower prices depending on the outcome.

To keep an eye on rates movements yourself, you can email me Jonathan on jmw@currencies.co.uk

Will the Euro weaken further?

The potential for the Euro to weaken seems rife in this market, I would not be surprised to see this happening very soon. For more information please contact me or read on to learn exactly why the Euro is again under pressure suffering losses against both the pound and Aussie.

The ECB (European Central Bank) has said it will consider looking at a range of stimulus measures if Inflation does not go higher and this is what could lead to Euro weakness. The ECB and some other sources have pointed to the forecast that Inflation will naturally rise in the future so this is something to keep an eye on.

If you have a transfer coming up and would like some expert information on the markets please get in touch with me directly on jmw@currencies.co.uk

As well as offer preferential exchange rates we also make sure all transfers go through smoothly due to our many years experience of navigating foreign banking systems.

We look forward to hearing from you!

Euro goes on the back foot…..

The Euro has struggled a little this afternoon as US Jobs data indicates the US is on the road to recovery and Draghi’s comments yesterday regarding the eurozone outlook come to be seen in a different light. All in all it looks like the Eurozone could be about to remain in a deflationary situation. Mario Draghi may have talked up the Eurozone’s outlook but his reference to measures to avoid catastrophe have probably carried more weight.

I cannot see how at some point in the future the Euro  won’t suffer as a result of the more recent news. If we can see some global improvements sentiments on the Euro may pick up but all in all the recovery is not looking particularly favourable.

If you need to buy or sell euros please speak to me to get the very best rates of exchange. I can be contacted on jmw@currencies.co.uk

 

Important News if you are Buying or Selling Euro!

This Thursday is the ECB Meeting where we learn about Mario Draghi’s take on recent Eurozone events. I personally would be forecasting Euro strength as it is highly unlikely the ECB will take any action. I think this because the Inflation figures are expected to rise next month and core price Inflation was unchanged.

All in all if you need to buy or sell the Euro this Thursday is the most important day this week. If you are looking for a little more from the market speak to us to be kept up to speed with the latest news and events. We are currency specialists who can assist in the safe transfer of currency at commercial exchange rates.

We aggressively undercut the bank and other sources of currency including currency brokers. If you wish to learn more please contact me Jonny directly on jmw@currencies.co.uk. I would be very interested to speak with you and explain the forecast for your currency transaction.

 

Will the Euro now retrace the recent gains?

The Euro has just lately weakened following some not so great economic data on the PMI (Purchasing Manager’s Index) Surveys. The overall data across the Eurozone fell and perhaps more alarmingly one of the worst drops was Germany which is supposed to be the real engine of Eurozone growth.

These PMI surveys are snapshots of current economic data and some of the most up to date data available to allow us to form an opinion on the future outlook. This slightly worse data does paint an interesting picture for next week’s ECB will do.

High Unemployment and possible Inflation problems in the Eurozone have not been solved and whilst I cannot see the Euro weakening majorly, the outlook is not quite as positive as for the last couple of weeks. If you need to sell Euros for GBP you are currently just a cent from the best rates for such a transaction in 2014. I think if you are selling euros moving sooner or selling on the dips is the wisest thing to avoid being caught out.

For more information email me Jonathan on jmw@currencies.co.uk