Monthly Archives: November 2013

GBPEUR rates SPIKING – STEVE EAKINS

Yesterdays GBP figures for the UK showed that the UK economy grew at its fastest pace for years creating real strength for the Pound. It pushed GBPEUR rates up once more towards highs not seen since the beginning of the year giving people who missed the opportunity 3 weeks ago a further opportunity.  Rates now sit yet over 1.20 and could potentiality push a little further tomorrow morning.

however beware tomorrow as with so much movement over the month I expect some large amounts of PROFIT TAKING across the board on the last day of the month.  This is when traders sell off their positions to recognise the profits made and can easily more markets. December is also the month when a majority of farmers get their single farm payment from the EU meaning there will be a large amount of money moved from one currency to the other, this again can artificially move markets. In both scenarios rates could SPIKE and create a fresh high or save sellers from the trend we are seeing.  It will be these SPIKES that will give the best prices in the market for your currency transfer.

Here along with our award winning service and exchange rates, we offer SPIKE NOTIFICATIONS. These allow us to inform you when rate smove so you can make an educated decision.  If this is something of interest please regester your interest via email at hse@currencies.co.uk

For more information please contact the author STEVE EAKINS via email at hse@currencies.co.uk or by using the number at the top of this site.

Will the Pound Break through 1.20? (Tom Holian)

Will the Pound break through 1.20 is a question i’m being asked a lot recently and personally I think yes it will but we’ll need to see both positive news from the UK combined with negative news from within the Eurozone. The Interbank level has broken through this level a number of times already this month but when it has broken above this level it hasn’t lasted very long.

By utilising a Limit Order to secure currency at a pre-determined exchange rate it’s worth speaking with a currency broker in order to make sure you not only get a better exchange rate than by using a bank but also an experienced broker will be able to keep you regularly updated with currency movements.

The Office for National Statistics this morning published figures confirming that UK economic growth has been driven by consumer spending during the third quarter of this year which means that UK GDP has grown at its quickest rate in 3 years.

The Pound is a fraction off its 10 month high and almost a year high for Sterling vs US Dollar.

If you would like to take advantage of the current high exchange rates then get in touch with me directly for a free quote teh@currencies.co.uk Tom Holian

With over ten years in the industry I’m confident I can offer you a better level of service and a higher exchange rate.

UK GDP Figures (Tom Holian)

UK GDP figures out this morning have shown an improvement of 0.8% which cam in line with expectation. Sterling has remained relatively stable following the announcement.

With strong growth for the UK this is likely to keep Sterling strong against all currencies and with recent ten month highs against the Euro could this be the opportunity for Sterling to break through 1.20 and stay there. This would be a welcome early Christmas present for many looking to buy Euros with Sterling compared to this time five years ago when Sterling Euro exchange rates were approaching parity.

With growth rising in the UK this could lead to an earlier interest rate increase compared to the suggested change which will either come once UK unemployment drops below 7% or if UK growth beats forecasts and inflation creeps up too much. In theory if inflation rises too high this will mean interest rate increases to combat the data.

If you want to take advantage of this currency spike then get in touch for a free quote when buying Euros Tom Holian teh@currencies.co.uk

GBPEUR rates start to wobble – STEVE EAKINS

GBPEUR rates have started to wobble again today as inflation data for the UK is mixed.  What many people are asking is whether this is a wobble or a new trend for the GBPEUR pairing.  My view is that we will see rates of exchange stay around this level for the next few days but generally fall through the month of December until the end of the year.  It will be next year when we see GBPEUR rates hopefully climb over and hold trading levels over 1.20.

The reason for this thought is that central banks do not like to make changes to policy in the month of December as governments close for festive period.  Saying that however rates of exchange never move in a straight line so there will be opportunities for the well timed.  here we offer a number of key services to help our clients achieve just that. With SPIKE NOTIFICATIONS and RATE ALERTS you can be keep up to date. On top of that knowing more about a client’s situation can help us highlight days and events within their timeframe when key data releases are due; helping them plan their transfer.

If this is of interest please feel free to contact the author – STEVE EAKINS – via hse@currencies.co.uk

 

GBPEUR trades update – STEVE EAKINS

GBPEUR rates have ended this week at a near 10 month high, closing in on the 1.20 level. This follows a busy week again for the Pound and Europe with the picture improving in the UK and getting worse for the Single Currency.  the general view seems to be that we will stay around this level or potentially fall a little before the month end.  I personally agree and would urge Euro buyers that need to move this month to trade sooner rather than later to take advantage of these highs.  If you have longer to wait and can push it into December I would.

If you are a seller and looking for the best price this month, I would hold till next week.  The busy days next week for economic data is Wednesday when the Bank of England release their most recent meeting minutes. Normally this is when traders look for hints on forecast change to growth and interest rate however following the inflation report this week no one expects any surprises. As a result we expect next week to be a fairly quite one.

If you are in the situation needing to move money internationally and looking for the best price – please feel free to contact the author – STEVE EAKINS – via the telephone number at the top of the page or via email at hse@currencies.co.uk

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Quarterly Inflation summary – Steve Eakins

Earlier today we had what was scheduled to be the busiest day of the month for the Pound.  Hugely over shadowed by the interest rate cut in Europe last week but in itself still a very large event.  This is when the bank of England gives an update on the UK economic performance and forecasts along with views on when potential change to policy will happen.  Interest is very much focussed on the expected date when Interest Rates in the UK will start to climb.
The summary from today’s activity is:
  • Upbeat Bank of England increase growth forecast for 2013 to 1.6%
  • Record numbers now in work as unemployment rate falls to four-year low
  • But 1.4million are in part-time work but want a full-time job, ONS says
  • Brighter outlook raises prospect of interest rate rise trigger two years early
  • David Cameron says figures are proof government’s plan is working

As a result of the above rates have climbed for the UK by nearly a cent against a basket of currencies. A welcome boost for GBPUSD transfers as yesterday this reached a near 2 month LOW.

This however is not the end of the data for this week. Tomorrow we have UK Retail figures and on Friday European data, both of which could change makes once again.  My view, I expect GBPEUR rates to climb a little further before the weeks end.

If you are in the situation needing to move money internationally and looking for the best price – please feel free to contact the author – STEVE EAKINS – via the telephone number at the top of the page or via email at hse@currencies.co.uk

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GBPEUR data slows and moves markets down. STEVE EAKINS

Today the markets were again surprised when UK data this morning missed expectation. This created a Sterling sell off similar to last week when the Europeans cut their interest rates.  The data moved the markets by upwards of 0.5 cents meaning the GBPEUR rates have moved by over 2 cents within 3 days.  Making a £200,000 purchase with Euros nearly €3,000 cheaper. It highlights again how important it is time your trade wisely. This allows you to maximise the cost of your purchase.

Tomorrow the UK Bank of England Governor holds the important Quarterly Inflation Report. This is probably the largest market mover for the rest of the week as comments made will have an impact on the forecast for change in interest Rates within the UK.  Currently markets expect they to start climbing in 2015 however the bank still suggests it will be 2016 when unemployment falls to a level when interest rate rises will start.

If you are in the position looking at moving money internationally and would like updates throughout tomorrow on how this release is impacting your exchange please get in contact with the author – STEVE EAKINS. You can do this either by calling the number on the top of the page or by emailing them directly at hse@currencies.co.uk

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GBPEUR spikes! Is this the moment you have been waiting for?

Finally GBPEUR has broken the 1.20 again allowing the best rates this year for Euro buyers. The surprise but not wholly unexpected decision by the ECB to cut their interest rate has created this excellent improvement. with the improvements for the pound and further Euro weakness expected, we could well see rates ebb higher into the 1.20’s. A key factor will be whether or not we actually finish above 1.20 today.

The Eurozone is now looking like it is at an important juncture in terms of managing their inflation and employment levels. Quite simply these levels have not been around very long before when they have been hit. If I was looking to buy currency in euros moving sooner really would be a wise course of action!

For more information on getting the best deals on your foreign exchange transfers please feel free to speak to us about all of your options. You can contact me Jonathan directly on jmw@currencies.co.uk

Thank you,

Jonathan

Interest rate day – GBPEUR forecasts – STEVE EAKINS

Today is a key day for both the UK and Europe as both Central banks release their interest rate decisions. The general view is that the UK will keep rates on hold at the record low of 0.5% where it has been since march 2009. The view however is that the Europeans could signal a potential cut in their rates in the near future. This would significantly weaken the single currency if confirmed and could easily push rates up towards 1.20 again.

I personally think that there will not be a cut but there will probably be much talk about it coming in the near future which will still weaken the euro and potentially give buyers the best price seen for some time. We are already near a year high so everyone with Euros to buy should be ready to move quickly on this release.

if you are reading this and in this situation we can help. With our 12 years of experience helping people in your situation and multiple awards for our service and rate of exchange you can be comfortable you will save money. Simply put if that was not the case – we would not be in business!

For more information feel free to contact the author – STEVE EAKINS – via email at hse@currencies.co.uk or by calling on the number at the top of this page.

Happy trading

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Poor GDP estimate puts a dampner on sterlings recent strong run (Mike Vaughan)

Following this mornings better than expected manufacturing data the pound looked set to have a strong day against the Euro and rallied to a high of 1.1934, however this afternoon the pounds gains were halted as the NIESR released its latest GDP forecast. Figures were expected to show a 0.8% gain but in fact the result was 0.7% – should the actual figures at the end of the month be the same then further pressure could be placed on sterling exchange rates.

Those looking at this pair tomorrow should keep a close eye on the Bank of England and European Central Banks interest rate decisions at 12:00 and 12:45 respectively. Both outcomes are likely to remain the same although there is an outside chance of a rate cut in Europe. Also look out for the post decision press conference from Mario Draghi for further insight as to future monetary policy.

Should you have an upcoming bank to bank money exchange to arrange and you would like to discuss the currency service we provide then please contact the office on 01494 787478 or email Mike at mgv@currencies.co.uk

 

 

GBP/EUR rates steady today ahead of interest rate decisions tomorrow (Daniel Wright)

Sterling Euro exchange rates have remained fairly stable today as investors eagerly await the interest rate decisions.

Tomorrow see’s the interest rate decisions for both the UK and the Eurozone at 12:00 and 12:45pm respectively.

The UK’s interest rate has been at a record low of 0.5% since March 2009 and looks set to remain low until UK unemployment falls to a target level of 7% it does not appear that we will see a change in interest rates in the U.K .

However, the European Central Bank (ECB) last cut rates back in May this year also to 0.5% and comments last month from ECB President Mario Draghi stated that economic recovery in the Eurozone remains “fragile”. He also stated the ECB will keep interest rates low while considering all options to the Central Bank to ensure financial stability. Following these comments there has been speculation that there is an outside possibility of a cut in Eurozone interest rates this month or possibly even another round of cheap money being made available to European banks through cheap long term loans. We will not know how the ECB will act until tomorrow’s announcement which is at 12:45 and it is this uncertainty that is currently driving the market and resulting in some excellent opportunities to buy Euros.

The key moment for potential market volatility will be at 13:30pm when we have the ECB (European Central Bank interest rate decision. Assuming we do not have a surprise cut by the ECB tomorrow then investors will be hanging off of every word spoken for an indication of when a rate cut may be a possibility.

If you have a pending currency transfer to make involving buying or selling Sterling or the Euro then please do feel free to get in touch with me directly on djw@currencies.co.uk with a description of what you are looking to do and I will be more than happy to assist you.

 

Sterling Euro exchange rates are at a one month high! (Daniel Wright)

The Pound has made minor gains once again against the Euro in trading this morning hitting a new one month high.

We saw much better than expected manufacturing PMI figures for the U.K early this morning which followed on from yesterdays positive economic data which may suggest a good month could be ahead regarding news for the U.K economy.

Tomorrow we have another set of industrial and manufacturing data out for the U.K and if it follows suit with the news we have had so far this week then Sterling could be set to be heading towards the coveted 1.20 mark.

The one key bit of data that may push the Pound back is the Bank of England interest rate decision due out at 12:00pm on Thursday which is promptly followed up by the ECB (European Central Bank) interest rate decision at 12:45pm. possibly the most important part for the EBC will be the press conference with head of the ECB Mario Draghi at 13:30pm on Thursday. Investors will no doubt be hanging off of his every word and any hint at further rate cuts may lead to an extremely volatile afternoon for the Euro.

If you have a pending currency transaction to carry out and you want to achieve the very best rate of exchange for your transfer then it may be prudent to get in touch with me and I can help you directly.

You can email me on djw@currencies.co.uk with a brief description of your exact requirements and a contact number and I will be more than happy to get straight in touch.

Strong manufacturing figures this weak could lend support to the pound (Mike Vaughan)

Lots to focus on this week should you have an interest in GBP/EUR. The main data sets to focus on have ben outlined below:

–         Tuesday Euro zone PPI inflation figures at 10:00

–         Wednesday UK Industrial production and Manufacturing figures at 09:30

–         Wednesday Euro Zone retail sales figures at 10:00

–         Thursday Bank of England interest rate decision at 12:00

–         Thursday European Central Bank interest rate decision at 12:45

–         Thursday ECB press conference at 13:30

As you can see there is plenty on this week. I for one believe the pound is in for a strong weak with manufacturing figures on Wednesday in particular expected to be strong.

Should you have an upcoming bank to bank money exchange to arrange and you would like to discuss the currency service we provide then please contact the office on 01494 787478 or email Mike at mgv@currencies.co.uk

Sterling jumps 1% against the Euro following poor unemployment figures from Europe (Mike Vaughan)

Sterling has seen a strong end to the week rallying over 1% yesterday following poor unemployment figures from Europe. This morning it has carried on in the same manner shifting through the 1.18 barrier and testing 1.1850. With little data out for today this trend could well continue into next week. For me should you be buying Euros I am confident you will get more value from this pair as I am personally a little surprised that the recent positive data from the UK has not had more of an impact on the value of sterling. Should you be selling Euros yesterday’s figures from the Euro zone should be of concern and you may wish to look at your current options.

Should you wish to discuss the currency service we provide and to discuss the many different contracts we can offer to help safeguard your position then please contact the office on 01494 787478 or email mgv@currencies.co.uk