Monthly Archives: September 2013

Thursday’s UK GDP Figures Likely to Affect GBP/EUR Rates? (Matthew Vassallo)

GBP/EUR rates have stayed fairly flat over the past few days and this may be the case until Thursday’s revision of Q2 UK Gross Domestic Product (GDP) figures. With the original figure of 0.3% expected to be revised up, we may see Sterling spike back through 1.19 if the figures are released as expected. Sterling has performed well against the EUR of late despite the loses we saw at the beginning of this week and current rates are still offering EUR buyers some of the best levels they have seen so far this year.

Many EUR buyers have been holding off in the hope that GBP would break 1.20 but as I alluded to in previous posts, I did not think this was going to be a formality. We saw a lot of resistance around 1.19 and despite the positivity that has surrounded the UK economic recovery over the past few weeks, we were unable to breach this level. Since then we have seen a mixed bag of data for the UK, of particular concern were the recent UK Retail Sales figures and with some bullish statements from European Central Bank (ECB) president Mario Draghi the EUR did fight back, moving back into the 1.18’s which is where rates have remained.

Personally I would still be tempted to purchase EUR around the current level, perhaps waiting to see if there is a spike either prior to, or after the release of Thursdays UK GDP figures.

If you do have an upcoming currency requirement and would like a rate comparison with your current provider, or need to be kept up to date with the latest market movements, then please feel free to contact me directly at mtv@currencies.co.uk, or alternatively you can call one of the team here on 0044 1494 787 478.

GBPEUR to remain range bound before moving higher next week

So just what can we expect soon on the GBPEUR in the coming weeks? I personally feel that we will see the rates move higher as a result of lower confidence in the euro and more confidence in sterling.

The election result has on the whole been euro positive but now it is dealt with the more pressing questions of just how the debt crisis in europe will be tackled comes back to the front of attention. What will happen soon? Not very much in my opinion, and this will help euro buyers, euro sellers will probably find however that everything gets a bit more expensive very soon.

1.20 is the target for many so if you are buying euros and wish to hit this level please let me know. Register an interest with me and I can help you to achieve this level if it does become available!

For the best rates and service on GBP to Euro exchange please contact me Jonathan directly on jmw@currencies.co.uk

Do not mistake sterling support for future gains on GBPEUR

Even signs the UK is tackling the debt problems did little to spark major interest in sterling today. That same news a week or so ago may have caused the pound to spike!

I think the pound will remain supported but is likely to come under pressure as focus turns back to the US and QE. Also the German elections are very likely to cause Euro strength which will further disrupt many euro buyer’s plans. Looking closer at the recent trend I think it more likely the rate will drop sooner than expected.

If you are weighing up an exchange why not speak with us? Please contact me directly for the best rates and service for any GBPEUR exchanges on jmw@currencies.co.uk

GBPEUR back to 1.18’s

The bad Retail Sales figures this morning confirmed what many already knew, that the GBPEUR rate would be very susceptible to poor UK news. The rate never looked too likely to continue to improve and the German elections this weekend are bound to weaken the rates further in my opinion.

If you need to move GBPEUR funds we can help get the best deals, over and above that offered by banks and other brokers. It is all to do with the volumes of currency we trade as a business that allows us to save you money. The current 9 month high for buying euros has today lowered and it will probably lower further in the coming days. If buying euros it may be worth moving sooner, selling euros wait until next week.

This weekend really could be a very important event on the markets with the German elections and this is bound to effect the GBPEUR rates. For a free, no obligation discussion of your current position and to learn about all of the upcoming events that may affect your rates in the future, please speak with me Jonathan directly on jmw@currencies.co.uk

 

The pound falls against the Euro. Good rates for selling Euros. (Ben Amrany)

This morning the pound has taken a tumble against the Euro by 0.63% as UK retail figures came in a lot lower than expected. The expected level was to see growth of 3.3% for the last year but instead actually came in at 2.2% while figures for the month dropped to -0.9% as opposed to the 0.4% we were expecting.

This goes to show that while we were expecting to see the pound test 1.20 against the Euro the unexpected can happen and reverse the rate very quickly. The thing with the UK and the pound is that we went on a 2-3 week running street of having positive data which helped the pound rise to the highest levels for  9 months. Nothing ever continues to go in just one direction and this is the correction that we have been anticipating.

If you were one of the smart ones to do your exchange while the rate was above 1.19 well done to you. For those that are still pondering over converting your funds be cautious as the German election is fast approaching this weekend and it could strengthen teh Euro further.

If you are looking at buying or selling the Euro then please do feel free to contact me and I will explain the options available to you to help you decide when may be a prudent time to exchange. plus the rates we offer will make you a saving over your bank. You may contact me ny emailing me at bma@currencies.co.uk

Thank you for reading.

Ben Amrany

bma@currencies.co.uk

 

Where Next for GBP/EUR Exchange Rates? (Matthew Vassallo)

Following the recent positive move for GBP against its EUR counterpart, many are questioning whether it is just a matter of time until we see 1.20 on the pair. Whilst UK economic data has certainly improved, we are not yet out of the woods and for this reason I am wary about assuming the current positivity surrounding the UK will continue and without this momentum the Pound may struggle to move much higher.

It is important to remember that Bank of England governor Mark Carney has already confirmed that UK interest rates will remain low until unemployment falls below 7% (this is unlikely to happen anytime soon) and with Eurozone economic data also started to improve we may see GBP/EUR rates fall away, rather than push through 1.20. We are already seeing resistance around the 1.19 mark and this week’s Bank of England minutes could be key to determining the next move for Sterling.

The currency markets can be a difficult place to navigate but here at gbpeuroforecast we have over 13 years experience in helping to achieve our clients the best exchange rates on offer, whilst also providing them with the key market analysis required so that they can time their trade to perfection and maximise the market value. If you would like to be kept up to date with all the latest market movements, or just want to compare our exchange rates with your current provider then please don’t hesitate to contact me directly at mtv@currencies.co.uk, or alternatively you can call one of the team on 0044 1494 787 478.

Holding out to buy euros at 1.20 could prove a costly mistake

It now looks like the recent rally on GBPEUR has stalled and looking at events on the horizon, moving sooner may be the wisest move. The current outlook for the GBPEUR rate is that perhaps we have reached the peak. To break higher than 1.20 will need something quite big to happen and the events on the horizon all point to Euro strength.

Looking at the next few days there is lots to move the market including the Federal Reserve Bank decision on the Wednesday evening. This is probably the biggest news in many months and investors will be closely watching as to whether or not the Fed ‘taper’ their currency purchases.

The effects on the USD will surely move EURUSD and this will impact the GBPEUR rate as well as many others. If you are making a transfer soon it is well worth being aware of the latest outlook so that you do not find yourself caught out if events take an unexpected turn.

For a free, no obligation chat regarding your particular situation please contact and ask to speak to me Jonathan on jmw@currencies.co.uk

9 month high to buy euros, will it last?

The current 9 month high on buying euros could potentially improve this week. However the improvements may be short lived as Sunday is the German election result. If as expected, Merkel remains in power we could see the rate climb up a couple of cents. Merkel remaining power will lend support to the current confidence in Europe and this should encourage the euro to find favour.

Other important news is the Fed Interest rate decision and the UK Bank of England decision both on Wednesday.  I expect the pound to remain fairly well supported but the dollar could weaken. This could present some better opportunties to buy euros which may not last.

Even if you do not need the funds right away we can hold any currency purchased and also ‘forward buy’ for you so you do not have to pay for it all upfront. The ‘best’ time to buy your currency may actually be right now so don’t let not having all the funds available limit you from missing out.

I work as a currency specialist for the UK’s leading independent foreign exchange broker and can offer assistance with the timing of your exchange and an excellent commercial rate. Please contact me personally on jmw@currencies.co.uk for more information that will help you to get the best deals.

 

Best Rates of Exchange – Buying Euros

Sterling has seen a further boost this afternoon, with a day high of 1.1966 reached.

Will we see 1.20 next week??

In my opinion there is a chance that we could, as on Tuesday at 09:30 the UK releases ‘Consumer Price Index’ and ‘Producer Price Index’.

Should we see a positive figure with a reduction of ‘CPI’, I think 1.20 may be seen for a very short period, the top of a spike.

If you are interested in potentially trading above 1.20 and would like to get in place the appropriate contract, please feel free to drop me a line.

Have a good weekend!

Andrew Bromley

AJB@currencies.co.uk

01494 787 478

Best Time to BUY EUROS?

Today has seen Sterling push through the 1.19 marker again, on the back of both yesterdays Unemployed improvement, and Mark Carneys impressive speech indicating house price control.

Those buying Euros will be well aware that current levels above 1.18 have been incredibly sought after, as August saw Interbank levels in the low 1.14s. The impressive increase is linked to the constant supply of positive UK data, most recently UK Manufacturing and Production data, which has long since been the UKs downfall.

Looking forwards, I believe that GBP-EUR will correct back to the 1.16 – 1.17 range, as Mark Carney is keen to stop GBP getting too strong and essentially overpricing British exports.

If you are looking to BUY Euros, I would be tempted to get something booked sooner rather than later, and take advantage of the current buying levels.

Those selling Euros may be wise to wait for Mark Carney to ‘talk the Pound down’.

Should you have a transaction to book, please feel free to drop me a line to discuss. Not only can we help to time your transaction to your advantage, I am confident to beat any competitor price!!

Andrew Bromley

AJB@currencies.co.uk

01494 787 478

GBPEUR Exchange rates highest since January (Tom Holian)

Sterling Euro exchange rates have hit their highest level since January 2013 as UK unemployment figures have come out better than expected yesterday at 7.7% down from 7.8% as expected. This also saw the Pound gain against the US Dollar to above 1.58 on mid market.

With levels close to the highest all year it is always tempting to see if there is any more scope for improvement but if we look at what happened during January rates fell over 8 cents during the month once the rates started to drop. As always it is difficult to say that the same will happen but it is certainly a warning that things in the currency market can always move quickly.

Later today head of the ECB Mario Draghi will be giving his monthly speech and this is likely to provide the market will clues as to future monetary policy for the Euro. Any positive sentiment could strengthen the Euro against Sterling and therefore rates could drop.

Iif you would like a quote when buying Euros or selling Euros feel free to contact me directly via email Tom Holian teh@currencies.co.uk

Pound Stays Strong Ahead of Tomorrow’s Unemployment Figures (Matthew Vassallo)

The Pound has held its position against the EUR during Tuesday’s trading, with further small gains this afternoon. GBP has performed well against the EUR for the past couple of weeks and last week touched 1.19, providing some of the best buying opportunities of 2013. The question many of my clients are now asking is whether we will see 1.20 on the pair anytime soon and personally I would be wary about assuming GBP’s recent run will continue, particularly against the EUR.

Whilst GBP/EUR levels have been on the up for the past couple of weeks Eurozone economic data has also started to improve, with recent German and French Gross Domestic Product (GDP) figures coming in better than expected. We also have an on-going concern in the UK over our widening trade deficit and until Eurozone productivity improves, we may find that the Bank of England will try to control Sterling’s value. It would not be beneficial for the UK economy if the Pound gains strength but the Eurozone are unable to trade because of the soaring cost and it is essential to our long-term recovery that we keep our most affluent trade arm active.

If you do have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or just want an exchange rate comparison with your current provider, then please feel free to contact me directly at mtv@currencies.co.uk or call one of our experienced brokers on 0044 1494 787 478 today.

GBPEUR Rates should rise tomorrow but will fall back in a week’s time…

GBPEUR rates should rise tomorrow as the Unemployment data for the UK shows a small fall. This should lead to sterling strength which will push the GBPEUR rate higher, possibly back over 1.19.

The pound has been benefitting from trader’s speculating that the UK will be raising rates ahead of the forecasted 2016 by the Bank of England. I personally expect the rate to push higher up to say 1.20 in the coming week or so before dropping back to around 1.17 following the German elections.

UK economic data has been very good lately but surely this will not just continue? And events in europe are bound to come into focus again but for the time being I expect a wave of confidence to sweep the eurozone and increase the price of euros.

For a free, no obligation discussion of your position and how I can save you money, please email jmw@currencies.co.uk or call 01494 787 478 and ask to speak with me Jonathan.

Best Rates – Buying or Selling Euros

Sterling is now at a 3.5 month high against the Euro, knocking on the door of 1.19.

GBP-EUR has been very ‘range bound’ for the last 5 months, not often going outside of 1.1475 and 1.1750. As we have seen an extended period of good UK data, todays manufacturing and production figures could either boost GBP to say 1.1950, or if we see a weak figure, 1.1790. Manufacturing and Production figures have long been the poorest sector of the UK economy so don’t be surprised if the figures at 09:30 are poor.

Later (15:00) is the UK GDP estimate, so we may see a repeated strong figure and help GBP regain a position of strength against Euro,

If you have a transaction in mind, either today or in the future, please feel free to drop me a line to discuss!

Andrew Bromley

AJB@currencies.co.uk

01494 787 478

GBPEUR rates continue to climb, this time with thanks to the European Central Bank and Mark Draghi. Mario who spoke today re-stated his position that interest rates will stay low in Europe for the next few years.  This weakened the Euro making it cheaper to buy.  GBPEUR rates are now up towards a 4 month high and going up.  We are only ½ cents away from the highest level seen since January this year so a real opportunity to buy the euro cheaper.  Remembering that we were 4 cents  lower this time last month.  We are now on for the 6th day straight of euro strength , one of the longest runs we have seen for a few months.

If you have a requirement to buy or sell the pound against any major currency then feel free to email me at hse@currencies.co.uk. with your requirement and I will explain the service we provide and the options that are available to you to help you maximise your exchange.

Thank you,

Steve Eakins

View Steve Eakins's profile on LinkedIn

Buying Euros – Best Rates of Exchange

Today has seen yet more strength for Sterling against the Euro, as ‘Markit’ PMI Data came out above expected. This has seen the market price crash through 1.1850 and is closing in on 1.19.

Tomorrow has the UK interest rate decision and although the interest rate itself shouldn’t change, any associated statement from Mark Carney at the Bank of England may move the rates!

Please feel free to drop me a line if you have a transaction to book. We are able to assist you in achieving the best possible rates of exchange.

Andrew Bromley

AJB@currencies.co.uk

01494 787 478