Tag Archives: the best deal on euros against the pound
A surprisingly buoyant report from the Treasury and favourable news from the US saw the Euro weaken against both the pound and the dollar this lunchtime. Expectations are firmly on the ECB for any possible QE move next week, if you need to buy or sell euros making some firm plans sooner rather than later is probably a very good idea! The Bank of England has been talking down sterling lately but essentially the UK is still now well ahead of other economies (but behind the Sates) as the economy most likely to raise interest rates in the future. This has boosted the pound (as well as the USD) and should see sterling remaining stronger against the Euro.
December is shaping up to be an exceptionally busy month on the foreign exchange market with the ECB Meeting 2nd December and the Federal Reserve meeting 18th December. Euro exchange rate movements hinge on two key factors. One is whether or not the ECB launch or indicate further QE at their 2nd December meeting. There is much speculation about how much, when and also whether any interest rates cuts are planned. The ECB is in a difficult place with plenty of speculation and pressure as to what they will do next! The Fed’s decision is also vital, if you need to buy or sell Euros in the coming weeks and next year then making some plans now is very sensible!
For more information at no cost or obligation please email me Jonathan on email@example.com, I am very confident I can offer some useful insight to help you make a decision on what to do.
Throughout today’s trading period the pound has lost over a cent value against the euro.
The morning started with a host of German economic data that started the spiral. Business climate conditions had improved however GDP YoY stayed at 1.8%
Later in the morning Mark Carney (Governor of the Bank of England), gave his latest press conference in regards to inflation. His dovish stance continued to dent the purchasing power of sterling and the market continued to slide. However he did eliminate any talks of the Bank of England abolishing cash, as this would mean the Bank of England would abandon the inflation target causing sterling weakness.
Tomorrow is quiet for economic data releases. The only release to note is UK Mortgage Approvals at 9.30am. Mortgage approvals are a key indicator to how the housing market is performing. The consensus is for a small rise therefore we could see sterling make back some of today’s losses.
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. firstname.lastname@example.org Dayle Littlejohn. Alternatively call 0044 1494 787 478 and ask for 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!!
The Euro has had a very rough few weeks weakening significantly against all its peers, will this continue? Well the likelihood is that yes it will since the ECB have made clear further QE is on the cards in the future. December is when they might announce this measure which is bound to weaken the Euro as investors sell of the Euro. If you need to sell Euros for the pound in the future then I would suggest moving sooner rather than later! The forecast for the pound next week is not very good as we get the latest Inflation reports for the UK, Inflation has been the big worry for the pound and the UK, therefore this release could provide a very good short term opportunity to sell euros for the pound.
Looking to the next few weeks there are further releases which might help Euro sellers but on balance if I had Euros to sell I wouldn’t be holding on. If you need to sell or buy Euros in the future understanding what is driving the market is key to understanding what to expect on your exchange rate in the future. For a forecast specific to your position please email me Jonny a brief description of what you need to by emailing email@example.com
Sterling took a heavy hit earlier in the week against all major currency pairings after UK inflation figures pushed the economy into deflation. I would think this could well be down to a considerable drop in fuel and commodity prices. GBP/EUR dropped into the low 1.33s during Tuesday’s trading. It seems the days of 1.40 could be well and truly over. This will surely mean interest rate hike will be well off the cards until late 2016.
Average earnings were released yesterday and it is something that the country’s population really feel in their pocket. It came in lower than expected the general consensus was that it was meant to come in at 3.1% but we saw a slight decline down to 3%. On a more positive note we did see a drop in unemployment, the figures came in better than expected down from 5.5% to 5.4% which did give Sterling a much needed lift across the board.
UK data releases for the week are scarce so market movement will be more dependent on what is happening elsewhere. I do feel we are now seeing new buoyancy levels for GBP/EUR between 1.3350 – 1.3550. Even 1.37 seems unrealistic at present. Those who are hanging on for the high 1.30’s should seriously reevaluate there trading strategy if you need to move short term.
Friday will see the release of Consumer Price Index (CPI) data for the Eurozone. CPI captures the changes in price of goods and services. It is a key barometer as to the health of an economy so keep your eyes peeled as any move away from the -0.1% estimate could cause volatility in the market.
There is also the Trade Balance figures to be released on Friday. It is the balance between imports and exports of total goods and services. A positive reading shows trade surplus and a negative value shows trade deficit. It can cause significant swings in Euro strength. I think we could see a drop in exports which would cause Euro weakness.
The reason behind my prediction is due to Mario Draghi’s recent statement. Mario Draghi is the head of the European Central Bank (ECB) and he has indicated that he feels the Euro is too strong and hindering trade. He has stated he is willing to lengthen the amount of time Quantitative Easing (QE) is in place and also the amount of funds pumped into the economy. QE is effectively launching cash into an economy in order to stimulate growth. This will almost guarantee Euro weakness in the coming months. If I was a Euro seller I would be moving quickly.
I do have several large GBP-EUR trades going through in the coming days that potentially I could tag new clients on to and achieve a very competitive rate. Please do get in touch if this is something of interest. I will guarantee to beat any bank or brokerage’s exchange rates.
I am currently offering a free rate alert service, just drop a line or e-mail with your currency requirements including your time scale and the levels you are hoping to obtain and I will notify you of any significant movement.
Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me on firstname.lastname@example.org or call on 01494 787 478 and ask for Daniel Johnson.
Today was an interesting day on the markets as multiple forces seemed to be acting on the Euro.
GBP/EUR climbed for the first half of the day as it was announced the Eurozone will be stepping up the amount of quantitative easing into the European economy to €2.4 trillion.
Mario Draghi, the head of the European Central Bank, previously mentionned that it was no yet decided whether this emergency stimulus should be taken further. This marginal vote of confidence was enough to strengthen the Euro by more tha two cents against Sterling a few weeks ago. This sudden turnaround, however, only weakened the Euro by about a cent.
The reason the change in rates wasn’t like-for-like is because of data to be released overnight for the Chinese economy.
Since ‘Black Monday’ in August, everytime poor news emerges on the Chinese economy,the Euro gains an artificial boost. With China accounting for almost 40% of the world’s economic growth, any indications of a slowdown causes panic on the stock markets. The result is that investors sell-off shares, and repeatedly they have stored their capital in Euros due to its relative cheapness on the markets compared to safe-haven currencies such as Sterling and the USD.
Markets have been obsessed with this data release all week, and all commentators are taking a morbid view of the outcome. Should this data come in as expected, we will likely get a repeat of the short-term bouts of Euro strength we have seen almost twice a month since August.
Anyone with Euros to sell I strongly rcommend contacting me overnight on email@example.com for a free quote on your transfer and my opinion on how to maximise the Sterling figure you acheive.
Anyone who has been waiting for the best rate to sell their Euros may well be seeing the best time to sell them for the rest of 2015, as rates will likely be creeping up following the data release. Alternatively, call me in the morning from 830am before UK trading opens on 01494 787 478 and ask the reception for Joshua – quote this article to recieve commercial rates of exchange on your transfer.