Tag Archives: the best deal on euros against the pound
This week is a busy week and it may be that exchange rates move outside of recent ranges. The expectation longer term is for the pound to rise against the Euro since the UK appears to be on a stronger economic footing than the Eurozone. My personal approach would be to sell Euros on the dips in your favour to avoid potential pitfalls of the pound rising against the Euro in the future.
This week we have the Bank of England Minutes which are not expected to show much change, Thursday UK Retail Sales which I think could be a big market mover and Friday we have UK GDP, the first estimate for Q3 economic growth. Thursday we also have flash PMI surveys for the Eurozone which may well be market movers too, all in all plenty to move the market!
If you need to move any currency internationally now is a good time to make some careful plans regarding your currency exchange. For more information on the forecast please contact me Jonny on firstname.lastname@example.org
GBPEUR and EURUSD movements have mainly been determined by the pound and dollar in the month of September. We saw the pound grab headlines owing to the Scottish Referendum and investors have been keeping a close eye too on USD news with the Federal Reserve seeking to raise interest rates in the New Year.
I would not be betting on the Euro doing too well this month although much more will be known tomorrow after the QE decision tomorrow. If you need to buy or sell the Euro keeping a close eye on the rates is sensible, if you are busy and don’t have time , why not call us to learn the latest news on the markets. Register your interest with me on email@example.com
The Euro has been rather weak of late and if the ECB (European Central Bank) look likely to need to launch QE (Quantitative Easing) down the line. The UK and US are currently planning to raise their base interest rates whilst the Eurozone recently cut theirs. I do not feel this trend has finished and expect that the Euro will lose further ground this year.
The Eurozone is still struggling with issues and investors will be weary of holding too much money there, the USD and the GBP will offer much better attractions, particularly if they raise their base rates. For more information on what is likely to happen to the Euro and to discuss strategies on how to capitalise please contact me Jonathan on firstname.lastname@example.org
The Scottish referendum is going to be a big event tomorrow, if you have not made any plans for this please get in touch as well to discuss how you can maximise your deal.
With no clear improvement in the economic conditions of the Eurozone despite a raft of measures designed to stave off deflation, we could now be looking at some further Euro weakness this week as investors lose faith in the current approach by the European Central Bank. Mario Draghi has kept significant credibility in his work as President of the ECB but investors will need to start seeing some serious improvements before they really feel enough is being done to stem major problems in the future.
Let us not write off the ECB and the Euro too swiftly however. The Euro is second only to the US dollar in terms of its international status as a safe haven, many companies and countries outside the Eurozone issue and purchase debt in Euros and businesses globally will use the Euro as an anchor to add another platform of stability alongside the ‘strength’ of the US Dollar.
Fears some years ago of the Euro collapsing seem like a distant memory and such a scenario is now highly unlikely. The prospect of major Euro weakness in the future if the current problems are not resolved is however something to be concerned about. Prices could start falling and this would have a major effect on the lacklustre growth seen across the Eurozone. Extensive legislation to promote green energy and meet targets has left many Eurozone business uncompetitive against their global markets and this is preventing booms in Industry and commerce.
This Thursday is the latest meeting between the ECB and he will give a Press Conference afterwards to provide insight and commentary into just how he and the council views the recent falls in Inflation. Friday at 10.00 am we have the latest Eurozone GDP (Gross Domestic Product) data which will be very useful in determining whether those comments or actions were justified…
The Euro has lost over 10 cents against sterling and close to 9 cents against the USD this year. If you need to make a transfer soon being aware of all of your options and the forecast could save you money. For more information and practical solutions from currency specialists please email me Jonny on email@example.com
The Euro has taken a hit after last Friday the President of the European Central Bank Mario Draghi hinted at the annual Jackson Hole Economic Symposium in Wyoming that broad-based asset purchases (QE) have become more likely and necessary for the euro zone.
This sent the Euro down to the lowest level against the USD in 11 months and also caused it to weaken by a cent against the pound as the Euro block is in a completely different place economically wise to that of the UK and the States.
While in the UK and US the central bank is considering hiking interest rates, in Europe they are monetary easing, which is what the UK and US have already halted. The European economy is a good couple of years behind the UK & US so I expect we will continue to see a weak Euro for the foreseeable future until interest rates seem like they could be hiked. A long road ahead is in store for Europe!!
Tomorrow Key unemployment data out of Germany could heap further pressure on the single currency so if you are looking at selling the Euro you may wish to act sooner to minimize any further losses.
If you enjoy reading our site and would like more information on the currency exchange service we offer please do feel free to contact myself Ben Amrany at firstname.lastname@example.org I will explain the service we can provide as well as all the options available to you.
The Euro appears to be on course for future losses which may manifest in the next month or so owing to continued pressure on the Eurozone economy to show some improvements in their economic outlook. Some months ago we were in a similair position and Marios Draghi announced a range of measures to ease liquidity in the Eurozone – that is making money more cheaply available to try and stimulate the economy. Unemployment is still a big problem in the Eurozone and boosting growth will help to combat this problem.
The cutting of their base interest rate has so far failed to ignite the economy and stave off the deflationary pressures in the Eurozone. Last month’s data has so far all been rather worrying and I am of the opinion anyone holding out expecting larger moves back in their favour in the future should beware of the risk involved. If you look at the historic charts the GBPEUR rate used to be much higher in the past flirting with levels of 1.50 – 1.60 for a period of time. Therefore the more favourable recent moves which we have seen could be viewed as an anomaly never to return as the economic recovery in the UK gathers pace.
All in all a strong pound and rising Eurozone concerns seems to indicate to me a deterioration in the current levels for those selling euros for GBP. If you need to make an exchange now or in the future please contact me Jonathan on email@example.com