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Representatives from Greece met its international creditors in Brussels to discuss a possible  deal to unlock the last of its bailout money, which it desperately needs to make repayments to the ECB and over IMF the next couple of months.

The Greek government indicated a resolution may be reached, saying it was in the process of drafting an agreement. German Finance Minister Wolfgang Schaeuble  was more pessimistic stating he was “surprised” by Greece’s positive outlook.  European Commission Vice President Valdis Dombrovskis said the two sides still had “some way to go”.

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 at dcj@currencies.co.uk or call on 01494 787 478 and ask for Daniel Johnson.

UK GDP figures for the first quarter of 2015 are due out early this morning, which is the second revision after further data releases for economic activity between January and April. The expectation is for a 2.4% growth to be shown. This was largely expected, so any divergence from this mark will cause positive or negative volatility for the Pound.

More important is the release of consumer confidence figures this morning for the Eurozone as a whole. Due to the Eurozone flirting with deflation, and undertaking large scale money printing to stimulate economic activity, these figures have been half of what they were in 2014. Growth is returning for most areas outside of Greece, and so any positive figures released this morning will likely signal a surge in Euro strength throughout the day, as investors scramble to get in ahead of the likely increase in retail sales this will signal.

Call straight into the trading floor on 01494 787 478 for a quote this morning, Euro sellers may see the interbank dip below 1.40, a welcome relief after those expecting the rates to continue climbing up to 1.45. jjp@currencies.co.uk

Euro buyers are experiencing close to record highs. We saw GBP/EUR hit 1.42 for a very short period in March, which was the highest level for eight years.  The uncertainty surrounding Greece is what has caused the surge in Sterling strength. Despite the ECB and IMF being at logger heads with the Syriza party, and both stone walling each other, I feel an agreement on Greece’s debt repayment will be reached. It is in the interest of both sides. The ECB and thew IMF want there money back. It also has to be taken into account that if Greece were to exit the Eurozone it would set a precedent. would Spain or Italy want to follow suit?

If Greece were to  exit it would be catastrophic for their economy with borrowing levels going through the roof and the drachma would be extremely weak.

If an agreement is reached I would expect the Euro to bounce back significantly, possibly to around 1.35. If you are a Euro buyer it may prove wise to buy at current levels.

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 at dcj@currencies.co.uk or call on 01494 787 478 and ask for Daniel Johnson.

This morning GBP/ EUR fell to 1.3959 off the back if positive German GDP figures (0.1 higher than expected). Throughout the day Sterling made gains against the euro and reached highs of 1.4096.

For clients who were trading £100,000.00 today and traded at the high compared to the low they would have received an extra €1370 euros. Therefore its crucial not only to enter the market on a specific day but also at a specific time. For further information on upcoming economic data feel free to email me drl@currencies.co.uk or alternatively call 01494 787 478 and quote Dayle Littlejohn.

1.41 on the markets! (Joshua Privett)

Fantastic retail sales figures released today shocked the markets, providing a stark rebound for the UK economy after a poor performance in March. Markets were sceptical when Mark Carney, Governor of the Bank of England, as well as other commentators had put the -0.5% contraction in March down as a ‘seasonal phenomenon’. But those saving after Christmas, ahead of summer, and in poor weather conditions, finally came out to spend in April, and clocked a growth of 1.4% in Retail Sales, causing the Pound to soar during the days trading.

Briefly reaching 1.41, the rates are suddenly even more attractive. As I write this Mario Draghi is currently conducting his speech on the state of the Eurozone. This will continue into tomorrow, and if you read the post below, you will see why this speech will create fantastic buying opportunities for Euros, and why we should keep in regular contact over the next 24 hours. jjp@currencies.co.uk

Yesterday we heard diverging news coming out of the Bank of England and the European Central Bank. For those buying Euros you would be happy to hear that the news coming out of the BoE was on the more positive side. Whilst all members still voted to keep interest rates on hold, two members have now described themselves as ‘on the fence’ about whether to raise interest rates now or to wait. This obviously is nothing tangible but it was enough to instil more confidence in the UK economy, which was one of the reasons why 1.40 was reached for the fourth time this year.

The negative news about the European economy centred around their Quantitative Easing programme introduced in January. Mario Draghi, the Head of the ECB, is due to speak today and tomorrow around this subject. He has hinted beforehand that they will expand the process, making further cash injections into the European economy.

His speeches have caused tremendous volatility in the past. While we expect the rates to move in the favour of Euro buyers, this will not be in a straight line. He will talk about the cash injections, but he will also take a positive spin that the reason they are expanding the programme is because it is working. This will cause repeated positive and negative movements throughout the speech. Call into the trading floor today on 01494 787 478 and ask for Joshua, to keep in contact while the speech is being delivered, to give you the best chance of buying Euros while you are at the top of the market. jjp@currencies.co.uk

The Bank of England (BOE) Monetary Policy Committee (MPC) convened today to reveal how they voted with regards to a rate hike. The vote came in at 9-0 against. Two members of the committee were finely balance on whether to hold or raise rates as they did last month.

Below par inflation rate figures released this week were not a reason for concern stated a member of the MPC as they expect a notable pick up towards the end of 2015. Despite the vote tally, the fact that two members of the MPC were considering a change in interest rates can be seen as positive for Sterling.

The European Central Bank (ECB) has indicated they will step up bond purchases under its €1.1 trillion program in the coming weeks due to a predicted lull in markets which caused significant Euro weakness.

Moving forward, retail sales figures are due out tomorrow and despite a slight drop expected I do not think this will cause any serious movement in GBP/EUR. Mario Draghi the head of the European Central Bank is due to speak  both tomorrow and Friday in which he will address the current economic stability of the Eurozone and his views moving forward, this could well cause volatility in GBP/EUR.

With GBP/EUR levels currently teetering around the 1.40 mark it is an excellent time to be purchasing Euros. It could prove costly to hang on for that extra buck.

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 at dcj@currencies.co.uk or call on 01494 787 478 and ask for Daniel Johnson.

GBP/EUR rates have moved back up towards 1.40 during Wednesday’s trading, with the EUR finding just enough support to hold it below this level for the time being. The Pound’s surge has continued this week pushing Sterling’s value up by almost 3 cents, providing EUR buyers with some of the best levels of the past 7 years.

Whilst many clients will now be waiting for 1.40 to become available, I would be wary about assuming this trend will just continue. The latest Bank of England (BoE) minutes were released this morning and showed that all 9 members were still against a rate rise in the UK, news which may dampen investor confidence in the Pound moving forward. There was also reports yesterday that Greece were on the verge of coming to a deal with the International Monetary Fund (IMF), which if true is likely to bring some much needed market support for the single currency.

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 our award winning exchange rates with your current provider, then please feel free to contact me directly on mtv@currencies.co.uk

This morning an ECB member suggested that the Quantitative Easing program could be increased in order to reach desired inflation levels. This news has counteracted today’s poor inflation figures that were released from the UK.

For clients who are looking to trade currency for the first time, its important to understand that economic announcements/ data have a major impact on exchange rates. If a client traded £100K to euros at the high of the day compared to the low they would have received an extra €1,600.

For further information on the process of trading, upcoming data or simply to get a quote feel free to email me drl@currencies.co.uk or alternatively call 01494 787 478 and quote Dayle Littlejohn.

A quiet morning gave way to a volatile afternoon as GBP-EUR rates climbed back to 1.38. Tomorrow we have the release of PPI and CPI data for the UK and the Eurozone. PPI data measures the prices of industrial goods and CPI data measures the price of consumer goods. These figures are used to calculate inflation, which is in-turn used as an indicator for the health of an economy.

This sudden strength for Sterling at the end of the trading day without any events or data to justify this suggests that the markets are predicting better figures for the UK instead of Europe when the figures are released this week.

The EU launched a massive program of Quantitative Easing in January to combat their poor inflation, it seems that the markets are not expecting positive results this early, so there may be some even better opportunities to purchase Euros after the data releases tomorrow morning.

Email me overnight on jjp@currencies.co.uk with your contact details if you have a requirement to purchase Euros. I can then contact you with a free quote once the data is released and we can confirm where the market has shifted. Alternatively call into the trading floor after 8:30am on 01494 787 478 and ask for Joshua.

Sterling Euro exchange rates have fallen from 1.40 last Tuesday into the 1.37 territory as the Euro began its long awaited fight back vs the Pound.

Next week is likely to see further volatility for Sterling Euro exchange rates with the release of both UK and Eurozone inflation data.

The expectation is to see the UK’s inflation falling whilst seeing a rise in the Eurozone.

If my prediction is correct then I would expect to see the Euro ganging strength vs the Pound as it could be argued that the QE recently introduced on the continent has started to work.

Also, due out is Wednesday’s Bank of England minutes. With Mark Carney recently suggesting that rates may not rise until 2016 any change in the voting from this month’s meeting could see Sterling gain following the announcement.

Therefore, if you need to sell Euros it may be worth taking advantage of the opportunity on Tuesday afternoon and if you need to buy Euros it may be worth holding out to see what happens on Wednesday with the BoE minutes.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

Before January, today’s only slight change of -0.17% for GBP-Eur rates would be quite an average day for market movement. Honestly, I have found myself bored.

The news of Greece, a Euro recession, and a British election have combined together to make recent months some of the most volatile in market history. 3 cent daily swings were not uncommon. A key feature for Sterling rates this week were the massive difference between what was expected for the Quarterly Inflation Report and what was delivered.

A positive report would have strengthened arguements for a potential UK rate hike in early 2016. Markets priced themselves ahead of the event expecting good news, but when the opposite was delivered the fall-back was substantial. Sterling corrected hugely and since then we have been marooned in the 1.38’s.

Since this Mark Carney of the Bank of England has downgraded the UK growth forecast, which has cast doubts about potential rate hikes in early 2016.

Sterling got a substantial boost from an unexpected election majority. The UK did not have to deal with any messy coalition negotiation, and we found ourselves on the brink of 1.40. Since then we have hovered around this level.

Personally, I feel the currently negative forecast about the European situation can only improve – and has been since data came out about the effectiveness of their Quantitative Easing scheme. And the news about Greece has continued to prove more fanfare than any true threats of a grexit. You shouldnt rely on any more Euro weakness to improve the rates for you. Many people are moving on properties while they are cheap, and investors

If I had a currency requirement over the next few months, I would be tempted to move now in case more unexpected news emerges. This is a fantastic time to be buying Euros, and these rates can be pegged for up to 12 months, so do not worry if you feel you cannot take advantage of them now.

Email me on jjp@currencies.co.uk over the weekend to discuss your options for stability in an uncertain market.

Big moves seen this morning already as positive employment data has be recorded for the UK. This improvement in average earnings figures follows a strong figure recorded yesterday for manufacturing and production in the UK. The Pound found strength in the General Election result as a majority win for the conservatives was a surprise!

I personally feel that the Pound strength will continue this afternoon as Mark Carney of the Bank of England is expected to be positive about an Interest Rate hike in his Quarterly Inflation Report.

If you have an exchange requirement, feel free to get in touch. The direct line to the trading floor is 01494 787 478 or alternatively call AJB@currencies.co.uk

Today saw the mammoth gains made for Sterling against all major currencies wither, as the markets digested the information about Greece released yesterday. The current Greek Finance Minister talked about a potential ‘cash crisis’ for Greece in the next few weeks. He said it was real, and it was essentially a challenge to the IMF and ECB. Greece’s creditors are deciding whether to unlock the final tranche of 7.2Bn Euros in bailout funds, but have said that Greece have still not made the necessary reforms to receive this money.

We have been on the ‘precipice’ of a Grexit before, and every time this has turned into more fanfare than anything else. But I am less comfortable than in previous months to simply say that the rates will ‘fall back down’ once an agreement has been reached. In this instance, the agreement may take longer to reach because the Greek government is running out of options. They have avoided making reforms simply by taking money out of the public coffers, but now there is little left to avoid the reality that they must limit their budget and reduce the size of their administration. For this reason rates may not come down for a short while until the Greek delegation inevitably give in.

During this time while rates are dependent on a volatile political situation it is best to be personally in contact with someone watching the rates regulalry and often. If you have a currency requirement over the next few weeks – email me on jjp@currencies.co.uk to discuss how to stay in contact during this period and how I can help you personally to time and achieve the best rate.

UK Industrial output figures were released this morning and they have grown at the fastest pace for six months in March. It has caused Sterling to rally back into the 1.39s this morning. There is also talk that an interest rate hike is on the horizon, it is all very positive and proving a very good time for Euro buyers.

But for some reason when things look so good the midas touch comes into play and everyone wants more, to ride the wave. Everyone wants 1.40!

The markets are like an elastic band and at some point it will snap back. To procrastinate for that extra buck could prove costly.

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 at dcj@currencies.co.uk or call on 01494 787 478 and ask for Daniel Johnson.

 

Sterling Euro rates hit 1.38 during Friday’s trading session as the Tories gained a majority and avoided a potentially difficult period of a hung parliament.

As the Tories have formed a majority this is great news for the Pound and investor confidence has risen in the UK causing Sterling to see the biggest daily gains in years.

Next week the Greeks have their next repayment to make and although I think they’ll be able to carry on with their repayments I think the media hype of a Grexit is not helping the Euro causing the single currency to weaken.

Also on Monday the Eurogroup meeting takes place and the main focus will be on the Greek debt causing instability for the Euro.

If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

 

Today the conservative party shocked the UK with a majority win by gaining 330 seats. This has strengthened sterling and and therefore GBP/EUR exchange rate has climbed back into the 1.37s (3 cent gain from yesterday).

For clients trading GBP/ EUR the limelight now turns to Greece. The Syriza party are set to make their next debt repayment of €763m to the IMF on Tuesday. Any delay in payment will result in the Euro weakening and GBP/ EUR edging towards the 1.40s.

If you are looking to buy or sell and want to achieve award winning exchange rates feel free to drop me an email on drl@currencies.co.uk or alternatively call 01494 787 478 and quote Dayle Littlejohn.

Sterling has come under pressure this week, with the focus switching to today’s UK general election and the subsequent results. With opinion split on who will be residing in number 10 Downing Street come next week, the markets have finally succumbed to the uncertainty created by this and the Pound’s value has dropped sharply against the EUR.

With rates now dropping below 1.34 at this morning’s low, the Pound has already lost almost 8 cents from the highs seen only a month ago. With rumors that Greece are getting their act together behind the scenes, we may find GBP struggles to recover this lost ground even after the election results have become clear.

Despite the drop Sterling’s value still looks attractive against the single currency when you consider the history of the pair and it would certainly be a gamble to assume that Sterling will recover to the pre-election levels, especially when you consider the Bank of England’s (BoE) stance on the matter. The BoE are keen to see Sterling’s value controlled for fear of alienating our largest trading partner the Eurozone even further.

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 our award winning exchange rates with your current provider, then please feel free to contact me directly on mtv@currencies.co.uk

With the election so close it is almost a certainty there will be a hung parliament. In the last week we have seen GBP/EUR drop 5 cents. If there is a hung parliament there will be twelve days of political uncertainty and the Pound will be in for a very rough ride.

This will be a great opportunity for Euro sellers but not so much for Euro buyers. If there is any coalition other than Conservative & Lib Dem I doubt we will see GBP/EUR rebound to current levels. I would seriously consider moving today if I was purchasing Euros.

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 at dcj@currencies.co.uk or call on 01494 787 478 and ask for Daniel Johnson.

GBPEUR rates have begun to fall as the UK general election is just now only days away on May 7th.

The current polls show no clear leader with no majority so the expectation is that we’ll see another hung parliament just like we did in 2010.

When this happened previously the uncertainty caused Sterling exchange rates to fall dramatically against the Euro so the chances are that we will se this happen again creating excellent opportunities for those looking to convert Euros into Sterling this week.

Friday saw one of the biggest daily falls for Sterling Euro exchange rates this week owing to the lowest manufacturing data out since February 2013.

With the Pound having been harding at 8 year highs earlier in March vs the single currency it comes as no surprise that British exports and the manufacturing sector have seen a slide.

Over the next few days as the election race beast up I expect to see a huge amount of volatility for Sterling Euro exchange rates.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk