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With the countdown to the election having already begun we are likely to experience a huge amount of volatility for Sterling Euro exchange rates.

Opinion polls will be extremely important over the next few weeks for Sterling Euro exchange rates and this is what is likely to cause rates to move.

The live interviews with Jeremy Paxman were viewed by millions and gave the public a very interesting insight into the policies for the upcoming electoral campaign.

On Tuesday UK GDP is published and the expectation is for 2.7%. Anything higher could see Sterling rise against the Euro so if you need to buy Euros then it may be worth taking advantage of exchange rates on Tuesday.

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

 

 

Yesterday saw Sterling bounce back against the Euro after the SNB (Swiss National Bank) announced they are willing CHF if necessary to boost exports. this vote of no confidence aimed at the Euro caused Euro to drop in value against Sterling.

This morning stated the obvious by letting us know a rate hike was more likely than a drop. Excuse the sarcasm, but “Big News”.  This did however cause further strength in the pound.

Late in trading we are seeing Sterling drop in value now sitting in the 1.36s.

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 exchange rates have picked up marginally this morning after the release of much better than expected UK retail sales today.

However, the longer term problem for the Pound is that we are entering the election period with less than 2 months to go which is likely to cause a huge amount of volatility for Sterling Euro exchange rates.

Bank of England governor Mark Carney is due to talk shortly and this could cause Sterling to fall against the Euro as Carney appears to be very worried about a strong Pound as it could harm British exports.

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

 

 

GBPEUR rates continue to fall

GBPEUR levels have continued their fall recently as uncertainty continues to weigh down on Sterling’s value. Rates seen 2 weeks ago when levels reached a new 8 1/2 year high of 1.4250 are now long gone and I personally don’t see these levels returning any time soon. At that point the QE program in Europe was undefined, Sterling economic data were beating expectations and European date were falling at the time. Now however economic data has returned to more ‘traditional’ levels causing GBPEUR rates to also fall and start reflecting this change in tone.

UK Inflation on Tuesday was one of the largest catalyst to this change as it fell to ZERO compared to the same period last year. This now changes the forecast for Interest rate change in the UK, from potentially going up at the end of this year to potentially having to be cut.  There is a building concern that we could see the UK Economy follow their European cousins with the risk of deflation increasing.

There are always two arguments as to which direction the GBPEUR rates will go moving forward, I personally however think that the negative trend that has established itself will continue. There will be short times where opportunities will be available, if you would like to be notified of these please register for SPIKE NOTIFICATIONS by emailing HSE@Currencies.co.uk

GBP/EUR rates have dropped by over 8 cents in the past two weeks, moving the pair away from the 8 year high. Poor economic data, including weak Manufacturing and worse than expected unemployment figures, has halted the Pound’s recent momentum.

A realignment was always likely when you consider how aggressive the Pound’s move was over the past couple of months. The Bank of England’s (BoE) were concerned that the Pound’s rising value would negatively affect UK exports. These fears were confirmed recently with UK factory orders falling to a 2 year low. The central bank have already indicated we will not be seeing a UK interest rate hike any time soon and I now feel it is unlikely that GBP/EUR rates will move back through 1.40 in the short-term.

Looking ahead and UK Retail Sales figures are released tomorrow and are expected to show an improvement. This could help the Pound find some support, although if figures are worse than expected then I anticipate the Pound’s slide to continue.

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

Sterling strength has come at a cost to the UK economy. UK factory orders released yesterday have shown a significant drop, the lowest in two years. This is confirmation exports are being hit by Sterling’s strength over the Euro.

Mark Carney has already indicated he is willing to take measures to weaken Sterling in order to boost exports and hopefully inflation. I have a feeling his preferred method will be jaw boning as opposed to anything more drastic. We have already seen GBP/EUR drop from 1.42 down to the low 1.36’s. Dare I say that one of our top traders Matthew Vassallo made a recent prediction we could hit 1.29 and he was mocked, by the time the election campaigns have kicked in I think it may now be a possibility.

We are about to enter one of the most volatile trading periods for the last 5yrs, suddenly 1.36 doesn’t seem do bad for the Euro buyer.

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.

There was very few data releases today that could cause any major volatility today, with little movement in GBP/EUR. The day high at 1.3840 and the low at 1.3762.

All eyes turn to Tuesday for UK CPI (Consumer Price Index) data. CPI is a measure of retail goods pricing and is a key indicator for inflation. I expect there to be a small decline in core inflation, which doesn’t include oil and energy pricing. Core inflation is the best indication as to the health of the economy and I expect to see  the data release cause Sterling weakness.

My advice to Euro buyers is to stop hanging on for 1.40 again as it is going to cost you, I’m no Nostradamus, but with the GBP/EUR still sitting at  1.38, A seven year high, and the general election just around the corner it would be wise to consider moving sooner rather than later.

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 took a knock after Sterling’s resurgence today. I think there is a strong possibilty this may have been caused by the BOE’s (Bank of England) Andy Haldane. He  suggested theMPC (Monetary Policy Commitee) still has options including QE and rate cuts and that risks to inflation in UK and overseas may be skewed to the downside.

He also stated  he does not see an immediate case to change interest rates and chances of a rate cut or rise are evenly balanced. He indictaed thatpolicy needs to stand ready to to move in either direction to achieve 2% inflation target.

I still feel it is a very good time to purchase Euros as we sit close to that 7yr high, I feel Sterling weakness is highly likely in the coming weeks.

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 we have already seen movements close to 2 cents against the Euro. After more than two straight months of Sterling gaining substantial and sustained ground, the 5 Cent loss for the Euro since last week was simply too tempting.

At first, limit orders at 1.375 were filled, the selling off of Euros weakened their demand and therefore value. When Euro sellers, who had been eagerly watching the rates trying to squeeze out as much as they could out of a bad market as possible, saw the rates moving back up they all jumped ship. On the trading floor here it was the same story.

But there is little data out today to discontinue the trends we have been seeing over the past week. The rates will likely continue to fall again as we edge closer to our election and the Eurozone continues to show signs of improvements.

Euro buyers call into the trading floor on 01494 787 478 and ask for Joshua, to take advantage of this unexpected move in your favour. jjp@currencies.co.uk 

The Euro is continuing it’s rally against Sterling. This morning saw below par data released for both unemployment and the average wage. This saw GBP/EUR drop to a day low of 1.3785.

The Budget caused little movement and we currently sit at 1.3801. I feel it is still a good time for Euro purchasers to move with the general election around the corner, Sterling weakness is practically a certainty.

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.

Rates had already moved by a Cent down to 1.395 by 8:30 am, and continued down in this fashion over the course of the day, hitting a low of 1.385 a few hours ago.

Movements of 2 cents in the day are what we have come to expect against the Euro since the start of January. The single currency has lost value rapidly. As an example, a £200,000 purchase of Euros now gives you over 31,000 Euros more than compared to 3 months ago. Such a large correction is certainly against the trend and there are a few reasons why this has occurred.

Mario Draghi, the head of the European Central Bank, has been intentionally trying to devalue the single-currency with the introduction of Quantitative Easing. This is to make exports more competitive, as well as foreign direct investment, as they become much cheaper with  weaker currency, and therefore more attractive. It seems the sheer volume of those wanting to invest in the Euro is driving up the value of the single-currency out of pure demand – we may have reached the peak and are returning to a point of balance away from inter-bank rates above 1.40.

Today inflation data for the Eurozone came in better than expected – further proof of how well Draghi is managing the crisis. Which caused much larger movements today than previously expected. Tomorrow, the Bank of England interest rate decisions shall be revealed tomorrow, should there be no change (the most likely outcome, though one member out of 9 may vote to raise rates), the rates may continue to fall over the next few days.

If you have Euros to sell – email me on jjp@currencies.co.uk and we can discuss how to make the best of the current situation many have suddenly found themselves dealing with. Alternatively, if you have a Euro purchasing requirement, I would call into the trading floor and ask for Joshua, either before 6 tonight or after 8:30am tomorrow to discuss purchasing at these historic highs.

Eurozone CPI (consumer price index) data was released this morning and they turned out  better than expected. CPI is a measure of inflation, and is a key indicator as to the health of an economy.  With The ECB (European Central Bank) fighting desperately against deflation, this data was like an oasis to a wayward traveller.

CPI figures rose for -0.6% to -0.3% year on year for February. This caused GBP/EUR to drop from the 1.40 level down to the high 1.38s. Personally I don’t think we will see the highs of last week’s 1.42s in the short to medium term. The general election is looming and historically we will see currency weakness in times of political uncertainty.  Osbourne’s budget announcement tomorrow could cause swings in GBP/EUR, I feel we could see a slight recovery for Sterling with Osbourne keen to impress.

 

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 dips below 1.40?

The price of the Euro continues to baffle investors as the market edges ever higher but retraces important steps too. The outlook on the Euro is not particularly rosy as most investors expect the rate to fall in the future. But then markets did not expect the rate to fall so far this year! How to navigate such uncertainty? Well in my experience the best way is look at all your options and avoid excessive risk.

Next week’s UK budget might be the perfect opportunity to sell Euros and avoid the uncertainty that is presently engulfing markets! For more information on securing the best rates please contact me Jonathan directly on jmw@currencies.co.uk

The USD/EUR currency pair is the most traded currency in the world. As such if, the Euro begins to perform strongly against the Dollar, this has a secondary effect in boosting Euro value against other currencies such as Sterling.

Today U.S. retail sales figures came in at -0.6%. The third month in a row with a contraction in the retail sector was the starting gun for a Euro rally that had been waiting to happen for a long time. Currently the rates have already moved 1.5 cents against the favour of Euro buyers just in the past 30 minutes. Those still looking to buy Euros should call into the trading floor immediately on 01494 787478 and ask for Joshua. Those looking to sell Euros, either do the same or drop me an email on jjp@currencies.co.uk to discuss how to ride this current momentum further.

GBPEUR rates on a rampage

GBPEUR rates are up over a 7 year high again hitting 1.41. I personally can see this run continue as there is so much little resistance in the market. I would not be surprised to see rates go higher still in the weeks ahead. The only thing on the horizon to worry about is the election next month but firstly the budget next week. They have to give us information on the budget cuts that are coming, this runs a risk of impacting the economy and therefore sterling’s value.

Anyone looking at buying will be keen to buy at the peak, the tough part is knowing when that is hit.  Here we have tools for exactly that purpose called rate alerts which in this situation could be really useful.

For more information on these and the other tools which are at your disposal please feel free to get in contact. Contact myself directly on hse@currencies.co.uk

Sterling’s rapid rise against the Euro continues now sitting in the 1.39’s with the current day high at 1.39336. I feel this trend is set to continue with the elusive 1.40 barrier in reach. I think we may hit some resistance, but if we do hit the 1.40 level I expect there to be a large amount of profit taking.

There is little data to be released this week that will be of any consequence, so with the Eurozone inflation forecast pulled back and Greece’s debt renegotiation being postponed I feel we will see Sterling strengthen further. I am starting to doubt whether or not the upcoming general election will cause any respite.

If you wish to call me to discuss your currency requirements I would be happy to assist and help you trade at the optimum time and help you obtain a very favourable rate, please do get in touch by calling me on 01494 787478 and ask for Daniel Johnson, alternatively drop me an e-mail on dcj@currencies.co.uk .

Mario Draghi the head of the ECB ( European Central Bank ) announced yesterday that QE ( Quantitative Easing ) would begin on Monday. QE is essentially injecting borrowed money into an economy in the attempt to boost spending and in turn inflation. It is very difficult to measure the impact of QE and it is not a definite method of increasing inflation.

The main reason we have seen Sterling continue to strengthen over the Euro is Draghi’s change in the inflation forecast.  It was revised down for 2015 from 0.7% to 0%. It maybe interpreted a ploy in order to give QE time to kick in, and with such a low estimate any growth could cause QE to be deemed a success in the ECB’s eyes. Although the following years estimates were far more bullish, the 2015 estimate does not fill me with optimism for the Eurozone.

If you wish to call me to discuss your currency requirements I would be happy to assist and help you trade at the optimum time and help you obtain a very favourable rate, please do get in touch by calling me on 01494 787478 and ask for Daniel Johnson, alternatively drop me an e-mail on dcj@currencies.co.uk .

Will GBPEUR hit 1.40

GBPEUR is getting closer to 1.40! Just how can you take advantage and buy at the very best rates? If you expect to be trading at the very best levels on GBPEUR then you will appreciate the good news that you are now actually doing so. You are currently buying at the best rates in 7 years to buy the Euro and I think this is something well worth taking advantage of. With the General Election just around the corner we expect the rates fall, taking stock of your situation and the current forecast is wise. For more information on getting the best deals please contact me Jonathan jmw@currencies.co.uk

Sterling Euro rates have been trading close to 1.38 this morning but have started to fall in anticipation of the ECB meeting due to take place this afternoon.

ECB president Mario Draghi is due to discuss the QE plan which has already started with a total amount of EUR60bn introduced this month to purchase government bonds.

There has been quite a lot of positive data for the Eurozone recently but none have had a positive impact on the Euro which signals that investors are waiting to see what will happen with Draghi’s press conference this afternoon.

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

 

 

 

GBP hit a new high against the Euro today as poor Eurozone Data was released this morning. A push up to the 1.38 region was quickly corrected as the UK ‘Markit’ report was slightly lower than expected, giving a less than expected positive outlook for the Pound.

The close of this week is very busy for the GBP EUR pair, with a key Eurozone meeting on Monetary policy at 13:30. From the GBP point of view, the UK interest rate decision is announced tomorrow at midday – although realistically no change will be expected, never say never!

Friday is dominated by the Eurozone GDP figure at 10:00, so worth making sure that you have your position in the market safely secured prior to that moment.

If you do have an exchange requirement, please feel free to drop me a line to AJB@currencies.co.uk

Alternatively call me direct to the trading floor on 01494 787 478