UK GDP Shows We Are Back To Pre-Recession Levels So Sterling Should Be Well Supported And The Euro May Come Under More Pressure Next Week (Colm Gilhooly)
Sterling has remained fairly solid today after UK GDP figures showed healthy growth for Q2 of this year, and the UK economy is back to the pre-recession size. The pound had lost ground in the middle of the week due to the Bank of England Minutes showing all 9 members of the MPC voted to hold interest rates, and UK retail figures came in slightly below expectations.
However the news on the overall state of the economy is pretty good, and whilst there are still concerns of the pace of house prices and the deficit rising, this data is likely to keep sterling well supported. The Euro on the other hand is still under pressure due to fears over further intervention by the ECB- if inflation data on Thursday is weak then we could see GBP EUR rates press on. EU unemployment figures are released the same day so there could be a lot of volatility in the run up to August’s ECB decision.
If you would like to make a currency transfer either to buy or sell Euros, then feel free to contact Colm at firstname.lastname@example.org and I would be happy to explain how our services work and how we can get you the best exchange rate.
GBP/EUR rates have spiked again this week, moving the currency pair up to a two year high. This spike was initiated following better than expected UK inflation data earlier this week, which helped push GBP/EUR back through 1.26 on the exchange.
Many clients will now be hoping for further gains and whilst it is impossible to predict exactly which direction GBP/EUR will take, I do not anticipate any major Sterling losses in the short-term. Any move up towards 1.30 is likely to be tempered by the Bank of England’s (BoE) desire to control the Pound’s value on fear of driving our export prices up and alienating the Eurozone economy 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 at email@example.com
GBPEUR rates have improved and are now comfortably above the 1.26 level representing an excellent time to buy Euros. Despite the continuing improvements clearly rates won’t just keep rising. If you need to buy Euros now is a two year high to purchase them and there are no guarantees the rate will just keep rising.
We are currency specialists who can assist in the safe transfer of currency at award winning exchange rates. For more information at no cost or obligation please feel free to contact us using the contact form or email me Jonathan directly firstname.lastname@example.org
Much longer term the Eur will probably weaken against the pound as it becomes apparent the UK is raising interest rates much further in the future than expected now. If you have a requirement now to buy or sell Euros, making clear your position sooner rather than later is probably the best way to avoid disappointment!
Sterling Still On The Up After Unemployment- Next Week’s Minutes Could Be Interesting (Colm Gilhooly)
Sterling gained a little more ground after UK unemployment figures were released this morning, backing up a very good day yesterday after the inflation figures. All the positive news must be ramping up pressure on the Bank of England to raise interest rates, and whilst they voted to hold interest rates this month, we wont know if it was a unanimous decision until next week when the official Minutes are published. If any member has dissented with the majority and voted to hike then we could see sterling rise further, although a 9-0 to hold could dent sterling’s recent surge.
The Euro has suffered from consistently weak data and the recent rate cut from the ECB, but there is also pressure from the fact that Mario Draghi may have left the door open for further intervention. The prospect of a European Quantitative Easing is hampering the Euro as you only have to look at what happened to the value of the Dollar and the pound during similar policies.
If you need to make a currency transfer then the next week could be a great buying opportunity for GBP EUR rates, just in case the Minutes don’t show calls for a hike and the ECB take no action resulting in the rate falling. If you would like assistance please feel free to email Colm at email@example.com and I would be happy to help.
UK unemployment figures have fallen to 6.5% this morning lending support to the pound which pushed to a two year high against the Euro and a near six year high against the US dollar. These figures were forecast but continues the positive run for the labour market and gives more scope for the Bank of England to raise interest rates, with some analysts forecasting this could happen as soon as Q4 of this year and it is this that is likely to keep sterling moving in a positive direction.
Today’s figures were the last of the major data sets from the UK this week and the next major focus will be the Bank of England minutes next Wednesday. This report will give the full breakdown of the Banks last interest rate meeting, including the split across the nine members of the monetary policy.
Looking at the Euro and tomorrows inflation figures should be watched. The Euro Zone is still coming under pressure from deflation and should levels fall further I would look for a negative shift for the Euro.
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Sterling Euro exchange rates close to 2 year high once again following inflation figures this morning (Daniel Wright)
The Pound crept close to a two year high once again today following inflation figures coming out higher than expected which led to a spike in the value of the Pound against most major currencies.
The higher inflation figure did add to speculation of a rate hike coming sooner rather than later and with a rate hike generally being very positive for the currency concerned the mere speculation of a potential hike can give the Pound strength.
Tomorrow morning we have unemployment figures out for the U.K which may also give Sterling a fairly volatile morning and with expectations for the unemployment level to have dropped a little further again to 6.5% there is a chance that Sterling may be in for a pretty good week all around.
If you have an upcoming transfer to carry out and want to get the best exchange rates along with great customer service and knowledge of the markets then email me directly on email@example.com I welcome all enquiries for bank to bank transfers however i’m afraid I cannot help with cash transactions or speculation.
Sterling Euro exchange rates have hit their highest level since August 2012 following the UK inflation data out earlier this morning. Inflation now stands at 2% in line with the Bank of England’s target and is its highest level since January 2012.
This means more pressure on the Bank of England to raise interest rates sooner than the markets currently expect.
This has also seen Sterling continue in its upwards direction and provide some excellent buying opportunities for those clients looking to buy Euros.
If you’re thinking of buying a property abroad or need money for living expenses then feel free to contact me for a free quote Tom Holian firstname.lastname@example.org
The pound looks like it will only continue to climb higher against the euro but this expectation could prove very dangerous if relied on too heavily. It would appear that the pound is likely to continue to strengthen but let us look at the facts and just what the prospects are for GBPEUR.
Possible problems for are that there will be a slowdown in economic activity in the Eurozone which will have a knock on effect for sterling as the UK does 40% of its trade with the Eurozone. Also there would appear to be a strong likelihood the pound is too strong which will harm UK exporters. These points are being raised time and time again and I am sure it soon be mentioned by say Mark Carney or someone else which will cause the pound to weaken.
All in all the current exchange rate is very favourable for Euro buyers so if you have a transaction to make please get in touch to learn more about the forecast for the rates. Please feel free to speak to me directly on email@example.com
GBP/EUR rates have remained flat during Wednesday’s trading and with little data of note out today this was to be expected. GBP/EUR continues to float just below 1.26 on the exchange and although we have seen a slight drop form the highs of last week, Sterling continues to hold its position close to a two year high. With little data of note to shift the markets, investors will be keeping a close eye on European Central Bank (ECB) president Mario Draghi’s speech this evening. This could turn out to be key market mover and any indication that the ECB could cut their base interest rate further, could cause the EUR to dip back below 1.26 by the opening of European trading tomorrow.
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 firstname.lastname@example.org
This week the rates could well spike higher with a number of data releases which may move the market. Notably the Interest decision on Thursday is a real possible market but I would view current GBPEUR levels well worthy of looking at very seriously.
The outlook on the currency pairing remains very positive but I do feel the pound is at such an attractive level against the Euro it is worthy of note and possibly capitalisation on by anyone who needs to do something soon. Unfortunately the reasons for these improvements are more to do with comments by central bank members than any specific new action or news that is concrete.
Tomorrow we have a UK GDP release along with the Industrial and Manufacturing Production data which could be very noteworthy for anyone with a transaction to consider.
If you would like some information or news on the market please feel free to contact me directly on email@example.com. I work as a specialist currency broker and can help you to save money on your transfers with expert planning.
The Pound is now trading at 22 month highs against the Euro following the European Central Bank press conference today where head of the European Central Bank commented that he may well look at introducing QE should inflation assessments change.
QE (Quantitative Easing) is generally seen as negative for the currency concerned and even the mere mention of it by the Bank of England or Federal Reserve (U.S) has led to their respective currencies losing strength which is exactly what we saw during trading this afternoon.
My personal opinion at present is to trade on the spikes so if you do have a currency requirement either now or in the near future it may be prudent to take advantage of current levels with at least some of your funds. If you have an upcoming transfer to carry out and want to get the best exchange rates along with great customer service and knowledge of the markets then email me directly on firstname.lastname@example.org I welcome all enquiries for bank to bank transfers however i’m afraid I cannot help with cash transactions or speculation.
GBP/EUR rates have dropped slightly during Thursday morning’s trading, following worse than expected PMI Services data for the UK. This negative move is the first of the week for Sterling, after a positive run against the EUR. Better than expected Manufacturing and Construction data pushed GBP/EUR back up close to a 20 month high, although today’s release is likely to dampen market expectations slightly.
We may now find that Sterling struggles to break through 1.26 before the end of the trading week, although any negative market reaction to GBP, may be offset by the poor Eurozone Retail Sale figures, which were also released this morning.
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 exchange rates with your current provider, then please feel free to contact me directly at email@example.com
When buying Euros it is important that you make sure you use a currency broker compared to using a bank as the exchange rates they can offer you can be as much as 4% better.
This is very important when transferring sums for property purchases on the continent or sending money overseas for large purchases.
The service of a currency broker is aimed primarily at private individuals who are often offered low exchange rates and high fees by their own banks.
If you need to send money to any country in the Eurozone then contact me directly for a free quote Tom Holian firstname.lastname@example.org