gbpeuroforecast.co.uk

The timing of your exchange is critical to getting the best exchange rate on an international money transfer. Holding on or moving sooner by only a few days can literally save you thousands of pounds. But how do you know when to hold on and when to move quickly?

There is of course no way of exactly knowing what will happen on the rate but a bit of planning and research with one of our team can help to get a better deal. Looking ahead to this week the pound looks like it could have a better day on Wednesday whilst Thursday and Friday may be better days for the Euro. That being said this week I would look to buy Euros on Wednesday, sell on Friday.

Wednesday sees the release of the Public Sector Net Borrowing figures, Retail Sales and the Bank of England Minutes. There is a high chance this will create some sterling volatility! There is an expectation borrowing could come in lower than expected and lower than the previous month which would be good news for sterling. Also it is likely there will be nothing new for the pound in the Minutes from the Bank of England which would lead to a slight relief rally for the pound. If we are still floating around 1.18 Wednesday morning a push higher to 1.19 would not seem out of the question.

Thursday we have the latest revision of GDP (Gross Domestic Product). If you have been keeping an eye on the rates, this was the event which last month pushed the pound close to 1.19 against the Euro. The recent confidence for sterling has been underpinned by the last release. Any deviation from that hallowed ’0.3%’ growth could easily cause the pound to suffer (or gain).

Friday sees attention back in Europe with German business confidence surveys and German GDP. I expect the Euro to make some gains on this release although of course it could go the other way.

If you find the above interesting and would like to learn more or even get a slightly longer term forecast please contact me. The best way to ensure you do not miss out on the best rates of exchange is to register an interest with myself. I can then keep an eye on the market for you and let you know of any trends that develop so you can act quickly. For more information or for a free, no obligation discussion of your exchange please feel free to contact me Jonathan directly on jmw@currencies.co.uk or call 01494 787 478 and ask to speak to me Jonathan.

Thank you

Posted in: Buy Euros, Eur Forecast, GBP Forecast, Sell Euros by Jonathan / Tags: best exchange rates, buy euros, gbp eur forecast, GBP strength, GBP weakness, GBP/EUR, GBP/EUR forecast, Pound, sell Euros, selling Euros, Selling Pounds, Sterling exchange rates, the best euro rates, the best exchange rates, the best GBPEUR rates, when to buy euros, when to sell euros?

No Comments

Over the last 36 hours there has been a lot of data to take in for GBPEUR traders.  Generally the picture has improved for the UK and weakened for Europe resulting in GBPEUR levels climbing.  In summary we have seen a majority of Europe confirming that they have seen negative growth in the last quarter, even the engine room of Europe, Germany, only scraped some growth of 0.1%.  Over all Europe is now in its longest recession since records started back in the 90’s.  The UK side also had bad news with unemployment climbing even though the number of people claiming benefits actually fell.  The Quarterly Inflation Report yesterday also confirmed a more positive growth prospect for the UK which is now expected to grow just over 1% this year.

Today we have seen consumer confidence coming out for Europe which reported figures as expected resulting in little movement in the markets.  Traditionally in the build up to a data release the market will price in the expected release meaning that when the real figures come out markets will not move much. However if the data is different from expectation we see the rates price this in quickly creating a SPIKE in the market; whether it is better or worse will determine the direction of the move.

My view is that the Pound and the Euro will probably remain rather range bound over the next few days, trading between 1.1750-1.1850.  It does seem that the single currency is going to continue to be in trouble for some time to come.  Growth is still negative for a majority as a massive 17 million people are unemployed across Europe.  (No wonder some MP’s want out of the Eurozone.)  People will have to return to work for the euro to gain any real strength and there is a similar picture for the UK economy long term.

Events to watch out for over the next 7 days are:

• UK Production Price Index,
• UK Retail figures,
• Bank of England minutes,
• UK GDP figures, and
• UK Mortgage approvals.

Along with a few key reports from Europe.  This data could move the market by upwards of 2 cents next week adding a potential cost of £2,200 on a €150,000 purchase.

If you want to be kept up to date on these releases and would like some assistance with a currency transfer feel free to contact me here, Steve Eakins via email at hse@currencies.co.uk or on the normal telephone number.  Our award winning service has been helping people save money on their exchange for over 13 years so I am sure we can help you to. Simply put if we could not save you money we would not be in business.  It could be an email that saves you thousands….

Look forward to hearing from you.

Posted in: Buy Euros, Eur Forecast by Steve E / Tags: best exchange rates, best fx price, best time to buy, buying, Buying Euros, buying sterling, currency, currency direct, exchange, exchange rates, fx price, GBP/EUR, selling Euros, Selling Pounds, when to buy

No Comments

Currency markets have already been surprised this week when news from Westminster in London lost the pound over 0.5% within a few hours.  This was following a political event with members of all parties calling for a vote on whether the UK should stay within the EU or not.  Even though the news is surprising the reason why such a big loss was seen is due to the fact that members of the prime minister’s own party went against him.  This creates some political uncertainty as it makes the government look weaker and this in turn results in sterling weakness.

The news was a surprise to the market and may very well have been missed by people not watching the market.  If you are in that situation the use of a specialist currency broker can help, being your eyes and ears in the market 10 hours a day means you can been kept up to date with breaking news so you can make an educated decision on when to trade.  It is this kind of information which can make thousands of pounds difference on a currency trade within a matter of hours.  If you are interested in learning more contact me directly for some more information via my email (Steve Eakins) hse@currencies.co.uk

What is next for exchange rates?

This week the busiest day by far is tomorrow, Wednesday.  We have a number of reports from both sides of the channel which could result in a movement of over a 1%.  This kind of movement would add €1,800 on a £150,000 euro purchase.  The data releases are:

• German GDP figures
• Italy GDP Figures
• French GDP Figures
• UK Quarterly Inflation report
• UK Unemployment Figures

The expectation is that GBPEUR will probably climb slightly tomorrow but with so much data that could surprise the markets it makes the allusive Crystal ball particularly murky…

If you are in the market for currency, speak to an expert to see how you can get the most from the market. Call us for a personal view and assistance on the normal number or via email at hse@currencies.co.uk

Posted in: Buy Euros, Eur Forecast by Steve E / Tags: best exchange rates, best time to buy, Buying Euros, currency, exchange rates, selling europs, selling Euros, specalist currency, what next, when to buy, when to sell

No Comments

Wobbles yesterday for the pound have proved short lived but remain. Fears over the damage to the UK economy from pulling out of the EU hurt sterling but it has ebbed back up. I think very soon in the coming weeks and months a 1.20 trading level is realistic but a few things need to happen.

Sterling needs to avoid further problems including:

Europe – Worries and uncertainty over the UK’s role in the EU evidenced by Tory rebellions undermines confidence in sterling. If Cameron can lead where many others have failed and unite the party over Europe the pound will find strength.

Economy – The pound has found support as growth returns to the UK. Various revisions by the ONS (Office of National Statistics) of last year’s data questions whether we were even in a double dip recession last year. The latest data by the NIESR (National Institute of Economic & Social Research) showed 0.8% growth in the UK for the last 3 month period. This is better news and has helped the pound to find favour. The economic data needs to keep improving and showing growth to see further gains for the pound.

Eurozone Worries – We need some negative news to cause a Euro sell off. Quite frankly this could come at anytime! I have already mentioned how I felt the Euro has taken a turn for the worse in recent weeks as investors previous confidence rubs off. Worse than expected economic data plus looser economic policy is all serving to turn the screw on the euro and means we could easily see rates tick up a bit higher for euro buyers.

Are you selling euros? Do not be too disgruntled if you missed selling euros at 1.15, the close to two year low earlier this year. The changes in market sentiment means a return to such levels is unlikely. Any deal below 1.20 is in my opinion very good value selling Euros based on prices form last year and historical rates.

For more information and a free analysis of your current currency situation please contact me Jonathan for more information

thank you for reading,

jmw@currencies.co.uk

Posted in: Buy Euros, Eur Forecast, GBP Forecast by Jonathan / Tags: best exchange rates, buy euros, Buying Euros, buying sterling, Currency Exchange, currency market, EUR/GBP, euro strength, European Central Bank, exchange rates, Foreign Currency Direct plc, GBP weakness, GBP/EUR, GBP/EUR forecast, Pound, selling Euros, the best euro rates, the best GBPEUR rates

No Comments

The UK and Sterling seem to be going from strength to strength recently with more and more positive data coming out of the UK but will this Sterling strength continue? In my opinion I think there is a major possibility. Sterling has come a long way since hitting a low point after the UK lost its coveted AAA credit rating when GBP/EUR hit a year low of 1.1370 and GBP/USD went as low 1.48. As it is now GBP/EUR is sitting much prettier with the Interbank rate currently around 1.1850 and GBP/USD up just over 1.54. When UK Gross Domestic Product (GDP) figures were released two weeks ago we saw that the UK economy had grown by 0.3% in the first quarter of 2013, much better than expected and giving the pound a hefty boost as confidence oozed back in to the UK. Whilst the UK still has a poor growth outlook for the remainder of the year and we may not reach the highs of last year I still believe we could break through the 1.20 barrier with regards to GBP/EUR in the near future and possibly up above 1.56 with GBP/USD, even against a strengthening US economy. With better than expected Manufacturing, Construction and Services data coming out recently for the UK I just think that as long as these sectors of our economy keep on growing, Sterling will rise with them.

This is however my opinion and markets are prone to surprises, as the saying goes….’expect the unexpected’. There is a lot of uncertainty surrounding the Eurozone at present so if any of this can be resolved and a more positive outlook can be found then the Euro could find itself fighting back once more. As mentioned previously the US is a strengthening economy. Whilst this may be slow growth, it is growing none the less and this could create a tug of war between Sterling and the greenback.

If you have an upcoming currency requirement then it may prove prudent to speak with one of our highly experienced, professional currency brokers. We have a number of different contract options available that can help safeguard your funds against market movements. You can contact me direct at atr@currencies.co.uk

Posted in: Buy Euros, GBP Forecast, Other Currencies, Sell Euros by Alistair / Tags: GBP exchange rates, GBP/EUR, Sterling gains, the best exchange rates

No Comments

Today’s key news was the decision by The Bank of England (BoE) to keep interest rates on hold at 0.5%. This decision was widely anticipated and it therefore comes as little surprise to see GBP/EUR rates remain fairly flat all day. There was a small spike for Sterling following the announcement but nothing more than general market fluctuation, with rates floating between 1.18 – 1.1850 during Thursdays trading.

The decision was also made that would be no further Quantitative Easing (QE) at this time, which was always likely following the recent first quarter Gross Domestic Product (GDP) figures, which showed growth of 0.3%. Whilst this was certainly nothing to get excited about it has kept the wolves from the door for the time being. Personally I do not think we will not see any more major decisions by the BoE until current chairman Sir Mervyn King has departed his post, which will be taken over by former Canadian Central Bank governor Mark Carney on July 1st of this year.

The EUR may find life tough going over the coming days following last weeks decision by the European Central Bank (ECB) to cut interest their rates by 0.25%. This news will have been softened slightly by yesterdays news that German Industrial Production figures came out better than expected, which will give hope that the Eurozone’s largest economy may be starting to turn a corner, on its own road to economic recovery.

Here at www.gbpeuroforecast.co.uk we are able to provide our clients not only with award winning rates of exchange but a bespoke service designed to give you the client, as much insight into the markets as possible. If you would like to find out the type of rates or contracts we offer, or need to be kept up to date with all the latest market movements, then please call us on 0044 1494 787 478 or email me directly at mtv@currencies.co.uk.

Posted in: Buy Euros, Eur Forecast, GBP Forecast, Sell Euros by Matt V / Tags: BoE, ECB, Euro weakness, GBP strength, GBP/EUR forecast, GDP figures, Mark Carney, Sir Mervyn King, www.gbpeuro.co.uk

No Comments

The pound is up at a near 3 month high against the dollar and fell from a 4 month high against the Euro before the key BOE meeting later today. The bank is expected to keep their asset buying program on hold for another month while they wait for the new Governor to start on the 1st of July, and keep interest rates at the record low of 0.5% where it has been for over 5 years now.

In Spain they have a key bond sale later today which follows Portugal’s first 10 year auction since their bailout in 2011. A bond auction is where countries raise capital by offering a return, they have a target volume to sell / amount of money to raise which needs to be reached and they move the interest they offer on the debt until demand allows them to reach this level. The bond markets where a key factor in bailouts being given to the PIIGS (Portugal, Ireland, Italy, Greece, Spain) over the last few years as anything over 7% is seen as unsustainable. I very much doubt that Portugal bonds which reach that high but it will be very interesting to see what kind of demand there is for a country debts where all the signs from their economy recently have given a negative impression. If there is a surprise I would expect the price of the euro to reflect it quite quickly today.

Later today we German Exports Figures are released, this is expected to show an improvement of 0.5% and if confirmed I would expect euro strength. We also have the European Monthly Meeting at 9 am which could throw in some surprises.

So buyers of the euro may want to buy early today and sellers may want to aim to ride its value up if these expectations come out as truth.

If you want to discuss how the next week could affect your currency exposure then speak to the experts by contacting us to go through it more personally. Either call and ask for myself Steve Eakins or email me directly at hse@currencies.co.uk

Posted in: Buy Euros, GBP Forecast by Steve E / Tags: best euro rate, best exchange rates, Buying Euros, buying sterling, euro forecast, euro rate forecast, exchange rates, Pound, pound forecsat, pound sterling forecast, selling Euros, Selling Pounds

No Comments

GBPEUR exchange rates have remained rather steady this last 2 weeks, hovering between 1.1750-1.190.  Quite a contrast compared to this time last month when rates moved between 1.14-1.18 within a fortnight, however this 1 ½ cent movement should not be ignored as timing a purchase of €150,000 you could have saved £1,300 if timed well.

So what next for the exchange rate?

The busy day this week is by far tomorrow. On Thursday we have UK Industrial data, UK Manufacturing data, UK Interest rate decision, UK Asset buying program, PLUS EUROPEAN Monthly report.  The general view is that data is due to show a poorer picture for the UK so some pound weakness is expected. The wild card event which could move markets significantly is if the UK extends their Quantitative Easing program but I think that is unlikely. It is however something that everyone should be aware of and have their own view on.

From the Europeans news from the Monthly report could highlight more subjects that have not been focused on yet.  Generally in Europe recently there seems to be a building recognition that the single currency is continuing to get worse rather than starting to improve, recently unemployment data showed yet another increase and France forecasts a fall back into a recession later this year.  (This has all helped EURO buyers reach this near 4 month high.)

My view is that this week GBPEUR rates will probably end the week lower than where they are now, however there are wild card stories that may break changing the market significantly.

So when should you trade?

This will come down to your risk appetite. My view – If I was a euro buyer this week I would move sooner rather than later and if I was a buyer I would probably hold off.  However if you don’t share that view and are willing to take the risk I would suggest using tools like a Limit orders and Stop Loss orders to limit your exposure, or register for SPIKE NOTIFICATIONS if there is any breaking news creating an swing in the near future by emailing hse@currencies.co.uk with your contact details and situation.

If you would like to speak to an expert about your currency transfer, whatever size feel free to contact us here. We have been titled the Best currency provider in the UK for 3 years running by The Sunday Times so I am sure we can help, even if you already have a provider.  Simply put if we could not save you money we would not be in business! Contact us today on either +44 (0) 1494 787 478 or via hse@currencies.co.uk

Posted in: Buy Euros, GBP Forecast by Steve E / Tags: best exchange rate, buying, Buying Euros, buying sterling, currency news, exchange rate, selling, selling Euros, Selling Pounds

No Comments

Yesterdays anticipated rate cut from 0.75% to 0.5% interestingly stregthened the Euro agains Sterling. This could be down to a number of factors, however the thought that the Eurozone could now move forward with it’s economic recovery is what potentially assisted the single currency strength. Euro sellers saw a brief window of opportunity as the Euro made ground on Sterling.

The relief was short lived however, as during Draghi’s speech  the Euro slipped back to offer Euro buyers a good opportunity to take advantage again at the 1.18s level.

Today sees European Producer Price Index data released shortly. This has the potential to weaken the Euro further, as the predictions are for smaller growth than the previous Month. This morning also sees US Non Farm Payroll data, which is often linked to Euro Strength / Weakness. All in all a busy day, and with the bank holiday arriving shortly, is it worth securing your transaction now to give you piece of mi

Posted in: Buy Euros, Eur Forecast, GBP Forecast, Other Currencies, Sell Euros by Andrew /
3 Comments

Today’s headlines have been dominated by news that the European Central Bank have cut their interest rates by 0.25%, to 0.5%. Today’s cut now leaves the interest rate at an all-time low and GBP has certainly benefited, continuing its recent rise during Thursday afternoon trading. GBP/EUR levels are now putting pressure back on the 1.19 resistance level and this news, coupled with last week’s announcement that the UK economy has indeed avoided a further recession, has dampened EUR sellers hopes of a move back towards 1.15.

Whilst Sterling does seem to be benefiting from the on-going problems in the Eurozone, I think it is dangerous to assume that GBP/EUR rates will continue on an upwards curve. The ECB’s decision to cut interest rates was widely anticipated and to an extent, will have been priced into today’s market. Therefore I don’t think we will see GBP move much further based purely on this announcement alone. It is also important to remember that the UK economy only grew by 0.3%, according to last week’s official figures and this is certainly nothing to get excited about. The initial market reaction was one of relief, which is why GBP spiked but I feel we need to see a lot more from our economy before we see GBP/EUR move through 1.20.

Here at Foreign Currency Direct plc we are able to provide our clients not only with award winning rates of exchange but a bespoke service designed to give you the client, as much insight into the markets as possible. If you would like to find out the type of rates or contracts we offer, or need to be kept up to date with all the latest market movements then please call us on 0044 1494 787 478 or email me directly at mtv@currencies.co.uk.

Posted in: Buy Euros, Eur Forecast, GBP Forecast, Sell Euros by Matt V / Tags: ECB cut interest rates, EUR weakness, eurozone, Foreign Currency Direct plc, GBP/EUR forecast, sterling strength, UK's best exchange rates

4 Comments

Are you selling Euros?

Have you looked at how much Sterling your Euros would buy you, if the exchange rate went back in to the mid 1.20s?

This is a conversation worth having today, as there is a strong change that Sterling could spike against the Euro tomorrow, if the  ECB cut Euro-Zone debt interest rates.

Government debt interest is a highly influential factor on rates of exchange, as it is an indicator of economic strength / weakness. Should the ECB cut the interest rates tomorrow, it would be an indicator to investors that the Euro Zone is struggling. This would make other currencies, including Sterling more attractive.

If you do have an exposure / requirement to sell Euros, please do get in contact on the details below.

I work for a market leading Foreign Exchange company, with various awards from ‘The Times’ and ‘The Telegraph’, including best exchange rates.

You can reach me on 0800 328 5884 or email me AJB@currencies.co.uk .

Andrew Bromley

Posted in: GBP Forecast by Andrew /
4 Comments

Morning readers,

And if in the UK how good to see some sunshine!

In summary this week on GBPEUR I think we may see some downward pressure again on sterling but Thursday is the key date which will determine where rates go. Regarding sterling growth of 0.3% is hardly anything to get too excited about! Ineed the economy was flat for the last 6 months (with -0.3% growth in Q4 2012).

This week look out for PMI surveys for the UK, Europe and US. PMI is Purchasing Managers Index and the data is released on the 1^st, 2^nd and 3^rd working day of every month. It is snapshot of economic activity in the previous month. The data will therefore be more up to date than the recent GDP data and usually affects short term movements on rates.

Thursday too is the ECB (European Central Bank) Interest Rate decision. There is a possibility the ECB will cut the Euro base interest rate which would weaken the currency, hence making it more attractive to buy.

Are you considering anymore transactions for which I can keep an eye on the market? Registerin an interest with me Jonathan on jmw@currencies.co.uk

I work as a specialist currency broker and our personal proactive service is designed to get our clients the most from the market.

Have a good week!

Jonathan

Posted in: Buy Euros, Eur Forecast, GBP Forecast, Other Currencies, Sell Euros by Jonathan / Tags: euro, euro currency forecast, euro forecast, euro predictions, euro strength, Euro weakness, exchange rates, GBP strength, GBP weakness, GBP/EUR forecast, Pound, sell Euros, selling Euros, Sterling, Sterling exchange rates, the best euro rates, the best exchange rates, the best GBPEUR rates, when to sell euros?

6 Comments

Yesterday’s GDP figures surprised most analysts by showing a growth of 0.3% meaning the UK avoided falling a triple dipp recession.  This moved the markets significantly creating a SPIKE and giving quick moving clients the chance to buy euros at a near 3 month high and Dollar at a 2 month high.  But will the rates continue to climb?

My personal view is that even though the data showed an improvement I cannot see the pound gaining any momentum as the economic outlook is not great. The economy is where it was 6 months ago as this gain equals out last quarters fall. However disposable funds are being squeezed, the construction industry is struggling and unemployment is up.  Analysts are also suggesting that the Bank of England could extend their Quantitative Easing (QE) program in a few week’s time; Putting more pounds in circulation traditionally weakens its value, so clients holding sterling may not want to get too confident and limiting your exposure to any correction may be wise.

To register for these SPIKE notifications or to take advanatage of these currenct levels contact us today. Either via the normal number or email me, Steve Eakins at hse@currencies.co.uk

Have a good weekend.

Posted in: Buy Euros, GBP Forecast, Other Currencies by Steve E / Tags: best exchange rates, buy euros, Buying Euros, Currency Exchange, EUR/GBP, exchange rates, GBP/EUR, gbpusd, GDP figures, selilng euros, spike

12 Comments

The eagerly awaited GDP announcement of this morning was always destined to impact the currency markets. The 0.3% growth reported this morning has seen Sterling strengthen its position against all currencies, including an improvement of 1.1% (at time of publish) against the Euro.

This is an opportunity that Euro Buyers have taken advantage of today, and I expect the same trend to continue tomorrow. It may be some time before we see rates back in the 1.20s, so if you have a Euro transaction coming up it may be wise to get in contact to discuss your options.

All is not lost for Euro sellers, as trading today would still be a marked improvement in comparison to most of last years positions. If you are thinking of selling Euros and are trying to decide when is the best time to get the best rate, do get in touch to discuss upcoming ’market events’ that will affect your currency.

I work for a market leading Foreign Exchange company, with various awards from ‘The Times’ and ‘The Telegraph’, including best exchange rates.

You can reach me on 0800 328 5884 or email me AJB@currencies.co.uk .

Andrew Bromley

Posted in: Buy Euros, Eur Forecast, GBP Forecast, Other Currencies, Sell Euros by Andrew /
4 Comments

For the first time in many months we have some positive news for the pound! Hurrah! The UK did not triple dip and the pound has strengthened improving by well over 1% against the euro so far.

We have been warning about the importance of today for months as we knew it had the potential to be a market mover. If you have currency transactions to consider involving the GBPEUR rate today will have changed the picture for you. What will rates do now is the big question!

The pound looks set to find more support and the lower 1.13-1.15 levels do for the time being look very much out of the question. If you have a transaction to consider involving the pound or euro in the coming weeks we can provide information on where the market is going and what may happen. For more information on securing the very best rates of exchange versus the banks and other companies, please contact me Jonathan directly on jmw@currencies.co.uk

Posted in: Buy Euros, Eur Forecast, GBP Forecast by Jonathan / Tags: best exchange rates, buy euros, Currency Exchange, currency predictions, EUR/GBP, GBP/EUR forecast, jonathan watson currency, pound sterling forecast, sell Euros, selling Euros, Sterling, the best euro rates, the best exchange rates, the best GBPEUR rates, UK's best exchange rates

4 Comments

It has been a eerily quiet day on the currency markets as anticipation builds ahead of tomorrows key release. Much has been made of the upcoming UK Gross Domestic Product figures and what the outcome will mean for the UK economy and the knock on effect it will have on the Pound.

Personally, I expect us to avoid a recession by the skin of our teeth but I don’t think we will necessarily see much positive movement for GBP against the EUR. With news that Italy is on the verge of forming a coalition government and an acceptance by investors that regardless of tomorrow’s result it is likely the Pound will continue to struggle in the coming weeks, I feel we may even see a move back towards 1.1650 on GBP/EUR. The UK economy continues to be hampered by a stagnant economy and poor growth forecasts and this is not going to change overnight, regardless of tomorrows official figures.

Here at Foreign Currency Direct plc we are able to provide our clients not only with award winning rates of exchange but a bespoke service designed to give you the client, as much insight into the markets as possible. If you would like to find out the type of rates or contracts we offer, or need to be kept up to date with all the latest market movements then please call us on 0044 1494 787 478 or email me directly at mtv@currencies.co.uk.

Posted in: Buy Euros, Eur Forecast, GBP Forecast, Sell Euros by Matt V / Tags: EUR strength, EUR weakness, Foreign Currency Direct plc, GBP strength, GBP weakness, GBP/EUR forecast, UK economy, UK Gross Domestic Product figures, UK's best exchange rates

6 Comments

Thursday 25th April sees the release of the UK Q1 GDQ figures, which have the potential to impact exchange rates substantially!

If you are considering buying Euros, then do get in contact to discuss your options. If Sterling drops to the six month low mark of  1.1430 on the back of negative GDP figures, then you would find a purchase of €200,000 would cost you an extra £4,600!

Tomorrow sees the release of BBA (British Bankers Association) measured Mortgage Approvals for March, and the CBI (Confederation of British Industry) Distributive Trades Survey. Although these on their own would generally not have a large effect on Sterling, when coupled with the hype surrounding potential poor UK GDP data, there is every chance that Sterling could take a hit. I don’t think that we will bottom out at the February figures in the 1.14s, however in the last seven days we have seen an instance where Sterling slipped in to the 1.15s rapidly!

Amazingly, there is concern within the single currency linking Scotland to further Euro uncertainty. As Scotland’s readies itself to vote on independence, Euro Zone members have voiced their concerns on members sharing currencies that aren’t the Euro. This has the potential to be a real banana skin for the Euro. Should Scotland vote on independence (unlikely and unwise in my opinion), the Euro-zone would look to hurry the Scots along with either their own currency, or immediate implementation of the single currency. As with the Cypriot Crisis, a small part of the Euro-zone has the potential to make waves on a huge scale!

If you consider yourself risk averse and want to find out what options there are available to guarantee rates of exchange, feel free to drop me an email AJB@currencies.co.uk or call me 01494 725 353.

I work for a market leading Foreign Exchange company, with various awards from ‘The Times’ and ‘The Telegraph’, including best exchange rates.

Andrew Bromley

Posted in: Buy Euros, Eur Forecast, GBP Forecast, Other Currencies, Sell Euros by Andrew /
4 Comments

There is a whole host of economic data still to come this week and it looks to me like those most prepared will get the best deals. With no clear direction being established on the exchange rate pairing we are seeing lots of volatility which will affect your rate.

The exchange rate is very sensitive to economic data at present and Thursday is without doubt the big day with news on whether or not the UK economy has been in a triple dip recession. If you are considering an exchange soon, it is really worth making sure you have explored all of your options before you make a decision.

If the UK is in the dreaded triple dip it is likely the pound will lose a cent or two against most currencies. On the other hand if we are not, then it is likely the pound will gain up to a cent. The importance of the data cannot be overstated and it is highly likely those who are the most prepared will be the ones who get the best deals.

Our specialist service is designed to ensure our clients are well informed and up to speed on the latest news in the market. We are working with the rates all day long and have a wealth of experience in managing the needs of clients, both corporate and private. Even if your exchange is just a one-off speaking with us is very much worth your time. For a free no obligation discussion of how we can better the banks and other companies please contact me Jonathan Watson on jmw@currencies.co.uk

I look forward to hearing from you. If you are unsure about anything please feel free to contact me on the email address. The savings we can offer versus the banks are very strong reasons to consider what we can offer.

Posted in: Buy Euros, Eur Forecast, GBP Forecast, Other Currencies by Jonathan / Tags: best exchange rates, buy euros, Buying Euros, Currency Exchange, currency market, currency predictions, EUR/GBP, euro, euro strength, Euro weakness, European Central Bank, eurozone, exchange rates, Foreign Currency Direct plc, GBP strength, gbp to eur best rates, GBP weakness, GBP/EUR, GBP/EUR forecast, GBP/EUR today, jonathan watson, Pound, selling Euros

3 Comments

The status of the UK continues to fall which is being reflected on the strength of the pound against a basket of currencies. Over the weekend the credit ratings agency Fitch confirmed that it has downgraded the UK from triple A to AA+. Moody’s has already downgraded the outlook for the UK and this continues to add more pressure on George Osborne, the rest of the Coalition government. It turn it makes the news on Thursday when the UK GDP figures are announced even more important for the future of the government and the strength of the pound.

All indicators for this week for the GBP seem to suggest that there will be more pressure on the GBP (i.e. Public Sector Net Borrowing, CBI Industrial Order Expectations, CBI realised sales). Even if the GDP report shows that we have avoided a recession is seems unlickely that it will counter the losses expected.

As a result GBP sellers may want to move sooner rather than later but buyers of the Pound may want to hold out.

The process will only take you a few minutes and we can look at prices for you to see how much of a saving we can give. Here I am 100% sure that there will be a saving going through us over that of the banks, otherwise simply put we would not exist. We have been titled the best currency provider in the UK for 3 years running by The Sunday Times and independent comparisons have shown there is a saving between 2%-4% using us over the banks. Would that be of interest?

To find out more about the specialist currency service we provide, whether you are a private or corporate client, then we can help. Please get in touch either on 01494 787478 or by emailing me with a brief description of your individual requirement and I will happily contact you and run through your options. You can reach me direct at hse@currencies.co.uk

Posted in: Buy Euros, Eur Forecast, GBP Forecast, Other Currencies by Steve E / Tags: best currency, Buying Euros, Buying Pounds, currency news, exchange rates, rates of exchange, selling Euros, when to buy, when to sell

7 Comments

GBPEUR proved yesterday again to the market why it is one of the most unpredictable pairs right now. In early morning trade an increase in UK Unemployment data caused the pound to lose ground with rates dropping to 1.1577. Then within a few hours a hint of the ECB (European Central Bank) cutting their interest rates caused rates to soar back up to 1.17!

If you have a transaction to consider this will make planning and trading at the best price difficult but not impossible. With Retail Sales due shortly for the UK and GDP (Gross Domestic Product) data due for the UK next week there is bound to be more volatility on the horizon.

To put my neck on the line I think rates will drop a cent or so to the 1.15-1.16 again before rising next week up to 1.18 following good GDP numbers. Getting the best rates is achieved through forward planning and an awareness of all of your options. I am a specialist foreign exchange broker with many years of experience helping people move money abroad at the best rates and best time. For a free, no obligation discussion of all of your options please feel free to contact me directly on jmw@currencies.co.uk

I look forward to hearing about your situation and offering solutions

Jonathan Watson

Posted in: Buy Euros, Eur Forecast, GBP Forecast, Other Currencies, Sell Euros by Jonathan / Tags: best exchange rate, best exchange rates, buy euros, Buying Euros, currency, Currency Exchange, currency market, ECB, EUR, EUR/GBP, euro strength, Euro weakness, European Central Bank, eurozone, exchange rates, GBP/EUR, GBP/EUR forecast, GBP/EUR today, selling Euros, Sterling, the best exchange rates, when to buy euros this week, when to sell euros this month

5 Comments