Tag Archives: the best deal on euros against the pound

GBP/EUR weekly round up and the week ahead (Dayle Littlejohn)

Its been another poor week for the POUND V EURO. The UK interest rate decision disappointing the market as the vote has changed from 8-1 to 9-0. Mark Carney (Governor of the Bank of England) has also cut GDP and inflation forecasts for 2016.

A well timed €200,000 purchase this week would have saved you £3,600.

Next week we have trade figures for December. I believe Sterling was overpriced against the euro in December therefore I expect UK trade figures to show a decline and therefore a drop in sterling value Tuesday morning. Wednesday at 3pm the NIESR GDP estimate is set to be released. With Mark Carney cutting the Bank of England’s forecast it wouldn’t surprise me if the NIESR follow suit.

As for the Euro Germany (the powerhouse of Europe) are set to release trade figures and GDP numbers next week. Both numbers are set to show an improvement therefore good news for euro sellers and bad news for euros buyers.

If you need to buy or sell Euros in the upcoming days, weeks or months feel free to email me with your individual requirement (buying a property/ paying a company invoice) and the currency pair (EUR/GBP, EUR/USD) I will personally respond with my forecast, strategy and the buying process. drl@currencies.co.uk Dayle Littlejohn. Alternatively feel free to give me a call on 0044 1494 787 478 and ask the to be put through to Dayle Littlejohn.

IF YOU WOULD SIMPLY LIKE A COMPARISON AGAINST YOUR CURRENT PROVIDER EMAIL ME WITH THE EXACT FIGURES AND I WILL GIVE YOU OUR LIVE BUYING PRICE AND TOGETHER WE CAN DO A COMPARISON!! THIS TAKES 30 SECONDS AND COULD SAVE YOU THOUSANDS!! 

 

Euro strengthens following positive employment figures (Joshua Privett)

The Eurozone recovery appears to be continuing at a steady pace with further gains made against unemployment. The positive today news caused the Euro to strengthen, resulting in GBP/EUR rates being on the verge of bumping below 1.31. Luckily for Euro buyers these have since recovered.

Today was a reminder to the currency markets that there is still substantial room on buying rates for Euros to gain further expense, particularly with GBP/EUR being as low as 1.28 only a few weeks ago.

Further Eurozone data is expected to be released tomorrow and will likely paint the Euro in a similarly positive light. 

The European Commission will be outlining their growth forecasts for the first half of 2016 which will be the focus for the markets tomorrow.

We have been seeing the benefits over the past few months of the emergency financial stimulus measures which were introduced in January 2015 (most recently with today’s employment figures).

The announcement that these measures were necessary last year were what initially caused the Euro to spiral downwards in value. But finally the positive effects of pumping huge volumes of capital into the economy are paying off, which is why the Euro is enjoying year long highs against Sterling and 6 year highs against the Australian Dollar.

Should these confirm market expectations, I would not be surprised to see similar losses on GBP/EUR tomorrow.

Looking further forward, it’s unfortunate that Thursday is expected to be another difficult day for Sterling. This is when the Bank of England are due to meet to discuss their latest interest rate decision.

For the past 4 months consecutively this has caused the Pound to suffer on the exchange market, with this translating into more expensive buying Euro rates. This is because the chance of a rise in interest rates for the UK is almost non-existent – in fact Mark Carney, the Governor of the Bank of England, has now stated on two separate occasions that due to historically low inflation a hike will not be considered until at least 2017.

With Euro strength and Pound weakness expected before the first weekend in February, those with Euros to buy may be wise to seize these two week highs for GBP/EUR if you are planning a purchase over the next few weeks and months.

I strongly recommend that anyone with Euros to buy should contact me on jjp@currencies.co.uk, and I will respond personally to discuss a strategy for your transfer in order to maximise your Euro return.

I have never had an issue beating the rates of exchange offered elsewhere, and these current improvements for GBP/EUR can be fixed to avoid your transfer getting more expensive whilst you wait.

Euro sellers can do the same, and I can explain the options open to you which ensure you ride these current movements in your favour to their peak before the deadline you have to make you transfer.

 

GBPEUR forecast for the remainder of January (Jonathan Worrall)

After seeing a strong rise in GBPEUR rates yesterday, they have slipped in the first part of early trading this morning, falling from 1.32 down towards 1.31. Housing and mortgage figures for the UK have been revealed, showing a slight drop in nationwide house prices and the number of mortgage approvals in December. This is another factor highlighting how the UK economy is still on a road to recovery.

However, a more significant event that is likely to be affecting GBPEUR rates today will be the upcoming US interest rate decision and monetary policy statement at 19.00 GMT. Having implemented their first interest rate hike in almost 10yrs last month, the worldwide economic uncertainty that has prevailed this year since that hike will surely have a big say on this month’s decision. It is widely expected that we will see a vote for no change to interest rates, and thus the tone of the following statement will attract more focus. With general market consensus being that the Federal Open Market Committee (FOMC) will adopt a more dovish tone than the previous month, this could lead to investors moving funds out of the USD and into the EUR. This in turn may lead to EUR strength and GBPEUR rates falling off further this afternoon towards 1.30.

On the flip side, if the FOMC adopt a less-dovish tone than expected, and try to instil some confidence into the markets, then we could see the opposite of the above and GBPEUR rates hold their position or strengthen back up above 1.32. During times like this, when markets can be very volatile, it is critical to be in contact with your broker to ensure you are fully informed and are able to make the best out of your currency exchange. Get in touch with me at jsw@currencies.co.uk and I will be able to run through your requirements with you and how to help you in the most efficient manner.

Putting the US interest rate decision aside and looking closer to home, UK GDP figures are released tomorrow morning. They are expected to show a slight rise from 0.4% to 0.5% for quarter-on-quarter figures. If this does come out as expected then we could see GBPEUR rates bolster their position in the 1.32 range. With the vast uncertainty currently circling over the markets, taking advantage at the right time and securing a rate for your currency purchase that you are happy with is paramount.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare out award winning exchange rates with your current provider, then please feel free to contact me directly at jsw@currencies.co.uk

 

Will GBPEUR break through the 1.30s back into the 1.20s? (Dayle Littlejohn)

With the pound continuing to take a tumble against the euro, the golden question for clients buying euros is will GBPEUR continue to fall and break into the 1.20s or will we see the tides turn and GBPEUR move back towards the great levels we saw in 2016.

Personally it wouldn’t surprise me if GBPEUR breaks into the late 1.20s early next week. Yesterday the Monetary policy committee from the Bank of England stated the reason for sterling weakness this year, is the growing concerns and speculation that the UK could leave the Eurozone later this year.

If you need to buy or sell Euros in the upcoming days, weeks or months feel free to email me with your individual requirement (buying a property/ paying a company invoice) and the currency pair (EUR/GBP, EUR/USD) I will personally respond with my forecast, strategy and the buying process. drl@currencies.co.uk Dayle Littlejohn. Alternatively feel free to give me a call Monday morning on 0044 1494 787 478 and ask the reception team to be put through to Dayle Littlejohn.

IF YOU WOULD SIMPLY LIKE A COMPARISON AGAINST YOUR CURRENT PROVIDER EMAIL ME WITH THE EXACT FIGURES AND I WILL GIVE YOU OUR LIVE BUYING PRICE AND TOGETHER WE CAN DO A COMPARISON!! THIS TAKES 30 SECONDS AND COULD SAVE YOU THOUSANDS!! 

 

The Pound levels out against the Euro (Dayle Littlejohn)

With minimal economic data releases today it appears the market has leveled itself out, as the Pound has made back some of the losses from last weeks trading period.

All eyes now turn to tomorrows NIESR GDP estimate. The ONS downgraded GDP last month therefore I expect the NIESR to also keep to a similar trend. Therefore we could sterling lose value tomorrow.

Later in the week on Thursday is the latest UK Interest Rate Decision. Its the first time the Bank of England have met since the US raised interest rates last month. It will be interesting to see the stance Mark Carney takes. I believe he will continue to remain dovish and again sterling will lose ground across the board.

If you need to buy or sell Euros in the upcoming days, weeks or months feel free to email me with your individual requirement (buying a property/ paying a company invoice) and the currency pair (EUR/GBP, EUR/USD) I will personally respond with my forecast, strategy and the buying process. drl@currencies.co.uk Dayle Littlejohn. Alternatively feel free to give me a call monday morning on 0044 1494 787 478 and ask the reception team to be put through to Dayle Littlejohn.

IF YOU WOULD SIMPLY LIKE A COMPARISON AGAINST YOUR CURRENT PROVIDER EMAIL ME WITH THE EXACT FIGURES AND I WILL GIVE YOU OUR LIVE BUYING PRICE AND TOGETHER WE CAN DO A COMPARISON!! THIS TAKES 30 SECONDS AND COULD SAVE YOU THOUSANDS!! 

 

Economic data that will impact GBPEUR exchange rate this week (Dayle Littlejohn)

For my regular readers I hope you had a fantastic Christmas and New Year!

This week the Eurozone is set to release their latest Consumer Price Index numbers (inflation) at 10am on Tuesday. The consensus is for a rise to 0.3% from 0.2%, which will no doubt strengthen the Euro and justify the ECB’s decision not to increase the amount of Quantitative Easing entering the Eurozone each month.

Nothing is a certainty within the currency markets however if you have Euros to buy this week there’s an argument to suggest this data release could have a negative impact on the exchange rate you receive therefore trading today may give you the best exchange rate this week.

Later in the week (Thursday at 12.30) is the latest Monetary Policy Meeting Accounts from the ECB. The accounts give an overview to the financial markets and a rational behind monetary policy decisions. If the minutes are bullish like the ECBs stance on Q.E. early in December we could see further Euro strength.

If you have an upcoming currency transfer at some point throughout 2016 now is the time to start your preparation. Firstly I would recommend emailing me with your individual requirement (buying a property/ company invoice etc) and timescales. I will personally respond to you with a forecast and the buying process. drl@currencies.co.uk Dayle Littlejohn.

I wish you all the best in 2016!

 

Where is GBP/EUR Heading? (Daniel Johnson)

There is no major data releases between now and new year so I would expect current buoyancy levels between 1.3650-1.3850 to remain in place until early 2016. The two biggest factors that will cause volatility on GBP/EUR is both UK inflation and Eurozone inflation.

Eurozone inflation is by far the worse of the two, currently sitting at the point of deflation. Mario Draghi the Head of the European Central Bank recently held off on pumping more cash into the system to stimulate growth. He did however lengthen the period of time the Quantitative Easing program is in place. He has not ruled out increasing the monetary injection which could we happen in the 2nd Quarter of 2016 if there is no improvement. If this is the case expect GBP/EUR to potentially break 1.40.

Inflation is the only thorn in the UK Economy’s side. In all other areas we are seeing consistent growth. This is prohibiting a  UK interest Hike, inflation currently sits at 0.1% with the target set at 2%. This is why unless Draghi increases QE I do not feel GBP/EUR will break 1.40. The current Interbank Level is sitting at 1.38 and it is still an extremely favorable time to purchase Euros, procrastination could prove costly. Also keep in mind Mark Carney the Head of the Bank of England has indicated he is willing to weaken Stirling to strengthen dwindling exports caused by the high price of Sterling.

If you have a requirement I would be happy to assist. I can guarantee to beat any competitors rates and will also make sure you receive the highest levels of customer service. Please do get in touch on 01494 787478 or  e-mail me on dcj@currencies.co.uk. Thank you for reading my blog it is greatly appreciated.

 

 

Will the Euro keep strengthening?

The pound to Euro rate has dropped lately as the Euro becomes more expensive to buy. Principally this is down to the Euro finding much more favour among investors who are keen to increase their stake in the single currency having seen it sold off so much at the beginning of the month. The future is always rather uncertain with the Euro, trying to make sense of the last few months is easy with hindsight but trying to make sense of what is next is very difficult. I would personally suggest that the recent run of form for the Euro will not keep pace and that at some point in the future the Euro will come under pressure once again presenting good opportunities for Euro buyers.

If you need to buy or sell the Euro making some firm plans now is probably the most sensible option as the markets are a little quieter as we approach the Christmas period. Moving to the New Year we have a whole host of new events and uncertainties to move exchange rates, the gamble in this market is to do nothing and just hope that rates move in your favour.

For more information at no cost or obligation please contact me Jonny on jmw@currencies.co.uk

Buyer Beware!

The Euro has become significantly more attractive to buy this year but with big improvements on the rate come volatility and uncertainty. Where we had two weeks of exchange rates above 1.40 only three or four weeks ago we are now faced with worry and uncertainty as the Euro strengthens and causes headaches for greedy Euro buyers. Unfortunately if you are hanging on buying Euros with pounds the uncertainty and worry is only going to increase! At least with the European Central Bank decision last week there was the potential for good news for Euro buyers. With the US Federal Reserve Interest rate decision this Wednesday there is extreme uncertainty as to what we might expect and if I was at present or soon to be a buyer of Euros I would be bracing myself for further losses and looking to capitalise on any spikes in my favour.

The US Federal Reserve Interest Rate decision is possibly the biggest news on financial markets in years, but just like the ECB decision the news is priced in. The Federal Reserve will in my opinion raise interest rates but it will only be by a very small amount and they will signal no further hikes at this stage. This will lead to an unwinding of recent USD safe haven positions and much of this will feedback into the Euro causing it to spike against sterling to 1.35. This is my prediction for the end of the week, I expect EURUSD to be 1.13 by the end of the week.

If you have a transfer to consider please speak to me Jonny by emailing jmw@currencies.co.uk

Another bad day for the Pound against the Euro (Dayle Littlejohn)

Today we have seen Sterling continue to slide against the Euro. The central/ inter bank level started trading in the high 1.38s and finished in the mid 1.37s.

The reason for the exchange rate drop was poor UK manufacturing numbers coupled with speculators continuing to purchase Euros because of Mario Draghi’s press conference on Thursday. Feel free to read my previous article for information regarding the press conference http://www.eurorateforecast.com/2015/12/05/gbpeur-exchange-rate-falls-because-of-the-european-central-bank-dayle-littlejohn/ .

Going forward, Thursday is the latest Interest Rate Decision for the UK. If Mark Carney Governor of the Bank of England continues to take a dovish tone in regards to Interest Rates, I expect GBPEUR will continue to fall. If I were buying Euros this week I would look trade before Thursday.

If you have an upcoming currency transfer and I have not covered the currency pair that you are looking to trade (EUR/USD, EUR/AUD, etc). Feel free to email me with the currency pair and your individual requirement (buying a property abroad, paying a company invoice) and I will personally respond to you with a forecast and the buying process. drl@currencies.co.uk Dayle Littlejohn. Alternatively call 0044 1494 787 478 and ask the reception team to be put through to Dayle Littlejohn.

IF YOU WOULD SIMPLY LIKE A COMPARISON AGAINST YOUR CURRENT PROVIDER FEEL FREE TO EMAIL ME WITH THE EXACT FIGURES!! THIS TAKES 30 SECONDS AND COULD SAVE YOU THOUSANDS!! 

GBPEUR exchange rate falls because of the European Central Bank (Dayle Littlejohn)

It was a dreadful end to the week for clients holding out for a better exchange rate for buying Euros. On Thursday GBPEUR plummeted 3 cents making a €200,000 purchase over £2,500 more expensive.

The eagerly anticipated press conference with President of the European Central Bank Mario Draghi, quite simply disappointed and the ECB failed to live up too their own hype.

Over the last 2 months the ECB have indicated they would do everything in their power to combat worrying inflation levels. The way they would do this was by extending and increasing the bond-buying programme (Quantitative Easing).

Instead Draghi told the press, the Q.E. program was working as planned and the ECB felt the only needed to extend the Q.E. program by 6 months and not increase the amount being injected into the Eurozone economy each month.

The strategy my clients used last week before Mario Draghi’s press conference was to use a stop loss and limit order. These two contracts minimized client’s exposure and protected them from drastic market movement.

Going forward I do not believe we will see GBPEUR hit the heights we saw last week. Therefore if I were buying Euros before the New Year, I would look to trade on the back of a spike from economic data. If you would like to know the upcoming economic data releases feel free to email me directly drl@currencies.co.uk.

FINALLY IF YOU WOULD SIMPLY LIKE A COMPARISON AGAINST YOUR CURRENT PROVIDER CALL ME MONDAY MORNING FOR A FREE QUOTE. THIS WILL TAKE YOU 2 MINUTES AND COULD SAVE YOU THOUSANDS 01494-787-478.

 

What impact could Mario Draghi have on GBPEUR exchange rate this week? (Dayle Littlejohn)

This Thursday the European Central Bank are set to release their latest Monetary Policy Statement. Mario Draghi will give his thoughts as to the state of the Eurozone economy but will also address the Quantitative Easing Program.

In my opinion the market has already priced in that the ECB will increase the Q.E. program, therefore for clients holding on hoping the exchange rate will rocket, I believe they could be very disappointing. Furthermore on the flip side, if Mario Draghi and the ECB decide not to increase the Q.E. program we could see investor confidence restored and GBP/EUR fall back into the higher 1.30s.

If you have an upcoming currency transfer and I have not covered the currency pair that you are looking to trade (EUR/USD, EUR/AUD, etc). Feel free to email me with the currency pair and your individual requirement (buying a property abroad, paying a company invoice) and I will personally respond to you with a forecast and the buying process. drl@currencies.co.uk Dayle Littlejohn. Alternatively call 0044 1494 787 478 and ask the reception team to be put through to Dayle Littlejohn.

IF YOU WOULD SIMPLY LIKE A COMPARISON AGAINST YOUR CURRENT PROVIDER FEEL FREE TO EMAIL ME WITH THE EXACT FIGURES!! THIS TAKES 30 SECONDS AND COULD SAVE YOU THOUSANDS!!