Tag Archives: the best deal on euros against the pound

Will the Euro recover 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 jmw@currencies.co.uk

GBPEUR drops! Have you made plans for the worst case scenario?

The pound suffered today as Inflation data showed a fall, meaning no real rise to raise interest rates anytime fast! This bodes well for anyone selling the Euro to buy the pound but I would be concerned if buying the euro with the pound since the exchange rate looks likely to fall if this continues.

Ultimately there are many factors affecting the pound lately including the fears of Ebola and the general deterioration in sentiments on the currency markets. For more information please contact me Jonathan on jmw@currencies.co.uk

Euro selling Opportunity

If you need to sell Euros you are looking at a very good opportunity currently. The Euro had weakened owing to a number of measures by the ECB (European Central Bank) to bolster growth and try to increase inflation. The ECB  has now had to embark on QE (Quantitative Easing) which has strangely caused the Euro to strengthen…

The Euro has weakened this year and this is presenting a good buying opportunity still. However with the likelihood being the pound and dollar will strengthen against the Euro longer term it would be very much worthwhile anyone selling Euros makes some firm plan to sell now. Historically speaking the rates for selling Euros are at a good level which will not last.

Many clients who are in the position of selling Euros for pounds or dollars are upset at not having moved earlier this year or last year when rates were much better. Unfortunately as time ticks on the pound and dollar are highly likely to continue to appreciate against the Euro, anyone thinking of selling Euros should be weary of the forecast and make plans. The recent move in favour of anyone selling Euros for GBP today is an example of a spike that should be capitalised on if you want to limit losses.

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

The Euro should be the focus in October

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 jmw@currencies.co.uk

 

 

If you are selling Euros act sooner rather than later. (Ben Amrany)

Since the Scottish referendum the pound has been significantly strengthening against the Euro as all the uncertainty has been taken away from the UK economy. It has been around two weeks since the pound hit that low level of 1.2397 and is now back above 1.2750. For those in the need to sell Euros you may be wise to act sooner than later as it is unlikely that the pound will drop back to these levels. We actually expect rates to head towards the 1.30 level the closer we get to that all important interest rate hike in 2015.

We help many clients repatriate funds back to the UK at better rates than the high street banks and we will give you the information needed to help you decide when is the best time to make your conversion to help you minimise your risk to the market. We really do feel the longer you leave your position the worse the rate may get so you really should be looking at the options available to you to help you decide when to do your conversion.

With data thin on the ground over the next couple of days a Speech by the Bank of England Governor Mark Carney could give the pound a further boost assisting rates to be pushed up towards 1.28 and above for the first time in over two and a half years.

If you would like to discuss the service we can offer in helping you achieve the best rates of exchange then please feel free to contact myself Ben Amrany at bma@currencies.co.uk. I can explain all the options available to you and help you beat the rate of exchange that your banks offer.

Thank you for reading.

Ben Amrany

The Euro rate will probably weaken further

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 jmw@currencies.co.uk

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.

The euro will probably remain on the weaker side

The Euro is most certainly on the back foot falling to a year low against the USD finally breaking back below the magic 1.30 level. I expect too against the pound the Euro will remain weak although the uncertainty presented to the market by the Scottish Referendum is a clear driver of sterling weakness, presenting what I believe is an excellent opportunity to sell euros for GBP.

The market can quickly turn and it is impossible to say exactly what will happen in the future. However I fell it reasonable to suggest the Euro will remain at an elevated level against sterling (the best levels since June) for the duration of the run up to the vote. It would seem likely to expect that after the vote (and assuming a ‘No’ vote as is still expected to be the main outcome) the pound will rise against the euro and focus will shift back to possible QE in the Eurozone.

In short if you are selling Euros for GBP moving sooner may be wise, if buying euros and feeling brace you may wish to wait until after the vote. We offer a specialist proactive service to guide clients through their currency exchanges, please feel free to contact me Jonny on jmw@currencies.co.uk for more information.

Will the euro weaken?

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 jmw@currencies.co.uk

Euro continues to decline heaping misery on Euro sellers. (Ben Amrany)

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 bma@currencies.co.uk  I will explain the service we can provide as well as all the options available to you.

 

 

What can we expect for the Euro in the future?

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 jmw@currencies.co.uk

Will the Euro weaken further soon?

There is a very strong chance the Euro will weaken further in the coming weeks and perhaps months if the current economic conditions deteriorate. Important measures of the Eurozone economy as a whole and the component countries have all showed a clear downturn of late. Eurozone Inflation has fallen lower and growth has stalled as the single bloc stumbles from crisis to crisis hurting confidence not only in the Eurozone but also globally. If  you would like to learn more about the forecast for your particular transaction we would be very interested to hear from you, please email me on jmw@currencies.co.uk

The Euro is slowly drifting into dangerous territory and anyone who needs to buy or sell euros will more than likely see the impacts of a deterioration or improvement in this situation. For more information at no cost or obligation please email me jmw@currencies.co.uk and I will be happy to help you.

 

Euro declines continue (Ben Amrany)

The Euro has weakened over the course of the day against most of the majors on the back of the poor economic sentiment survey which came out of Germany this morning. It has really hindered the single currency and sent GBP/EUR back up towards 1.2584 from the low of the day of 1.2531. Investor morale in Germany is now at its lowest in over one and a half years which is a a further sign that the euro zone recovery is faltering and may reap further pressure on the Euro.

If you are looking at buying or selling the single currency against the pound then tomorrow there is a host of economic releases which will more than likely have an impact on the rates going forward until the end of the week.

At 7 am it all kicks off with all the eagerly awaited inflation data out from Germany which I feel will cause the Euro to weaken as inflation is continuing to fall and a rise above expectation will be needed for anyone looking at selling Euros. The same data is out for France and Spain.

Then in the UK we have the unemployment data followed by the Quarterly inflation report and a speech by the Governor of the Bank of England. The Unemployment data will be key for market movement as any drop in this figure will surely mean further calls for interest rates to rise sooner leading to more sterling strengthen.

I still feel that there is more scope for the Euro to continue to weaken than recover its losses. If you are selling the single currency the sooner you trade I believe the  more you will achieve and you will probably look back in a years time and think thank god I traded when I did.

If you do not have full funds available please remember you can always forward buy your currency by lodging a small deposit now and settling the balance at an agreed date in the future. If you would like more information on this contract or anything else to do with our service then please feel free to email myself Ben Amrany at bma@currencies.co.uk 

Thank you for reading

Ben Amrany

bma@currencies.co.uk