Monthly Archives: December 2013

Sterling Remains Strong (Tom Holian)

Sterling has remained strong over the last few days owing to the publication of the ONS report about UK GDP. Gross domestic product was up by 0.8% during the third quarter which came in as expected. This means the growth over the last twelve months has risen from 1.5% to 1.9% higher than the Bank of England’s own growth forecast!

I think over the next week prior to the end of 2013 we’ll see Sterling break through 1.20 against the Euro so if you want to buy Euros then email me for a free quote teh@currencies.co.uk

French GDP figures are due out on Tuesday and I think we’ll see negative growth of lower than the -0.1% expected. With the Eurozone’s 2nd largest economy struggling to grow for me it’s only a matter of time till France is in recession and the Eurozone as a whole does the same. My personal prediction is the Eurozone will be in recession by the end of Q2 2014. Email me your thoughts…

GBP recovery – Buying euros – Selling euros – STEVE EAKINS

Sterling prices have started to fight back this week against the single currency.  UK Unemployment has shown a huge fall in the levels of people out of work in the UK and with unemployment levels being linked to interest rate changes in the UK it pushed the value of the Pound up in trading today.  Tomorrow we see UK Retail figures and on Friday GDP figures.  Both of these are also expected to show an improvement meaning euro buyers may see a benefit in waiting to buy until the end of the year.

We also have a large potential event this afternoon when the FED meet and will give the market the latest on their QE tapering program.  There is a potential for them to start cutting the amount of investment made into the US economy which would have a profound impact on a basket of currencies. I personally don’t expect them to cut but they could give the market clarity on when they will.  As a result I expect this news to ripple the currency markets for a few days creating opportunities for the quick moving.

Here we provide a pro-active service helping our clients time their trades when the markets are at their highest. If you are in the market and would like a personal view on what we would suggest please feel free to get in contact with the author.  With over 12 years of experience and numerous awards for service and the rate of exchange available you can be comfortable to show a saving compared to your current provider; bank or broker.

Contact the author STEVE EAKINS via email at hse@currencies.co.uk or by using the number at the top of this page.

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UK Unemployment Lowest since April 2009 (Tom Holian)

The UK Claimant Count released this morning showed that unemployment is now at its lowest level seen since April 2009. This is fantastic news fro the British economy as well as providing Sterling with a lot of strength against the Euro this morning. The Bank of England Minutes came out as expected with a 9-0 vote to keep interest rates on hold as well as no more QE for the time being.  The news from the jobs markets has helped Sterling to gain over 0.6% this morning or the difference or £650 on a €150,000 currency exchange.

The positive jobs data could also mean  that the UK GDP figures due out on Friday could also be more positive than expected leading to a further charge for Sterling against most major currencies.

The US Federal Reserve meet tonight to discuss their QE programme and any tapering could lead to a Euro sell off sending Sterling higher and creeping into the 1.19 levels.

If you want to save money when buying Euros then feel free to get it touch for a free quote Tom Holian teh@currencies.co.uk

GBPEUR Exchange Rates why you should consider buying Euros now (Tom Holian)

Sterling Euro exchange rates have dropped from their recent 10 month high seen early December which hit 1.21+ but since then we have seen almost a 3% drop in the value of Sterling or the equivalent of £1,300 on a €50,000 currency transfer. Ireland have exited their bailout and couple with more strong sentiment from ECB President Mario Draghi this has helped the single currency to spike against the Pound.

With further suggestions that Portugal could also exit their own bailout programme during mid-2014. Compared to a month ago when we thought Sterling’s rally would continue the landscape for the fx markets now looks a little different. Mark Carney’s comments from yesterday suggested that the UK is on track for growth but it still has a long way to go with unemployment still 1 million above the target level set out earlier this year by the Bank of England.

On Friday the Office for National Statistics publishes its UK GDP figures for quarter 3 and any negative change could see marginal Sterling weakness against the Euro.

In a few minutes time the Bank of England minutes are due to come out and I expect little surprise for the currency markets.

For a free quote to buy Euros or simply want to compare exchange rates then get in touch by sending me an email. Having helped save thousands pounds for individuals transferring money to Europe over the years I’m confident that  I can offer you a better exchange rate.

Tom Holian teh@currencies.co.uk

GBPEUR rates update – Selling euros – buying euros – STEVE EAKINS

Euro continues to fight but it’s just a short-term win I think, Sterling strength will probably return next week.  Today I expect to be one of the last days for EURO sellers to take advantage of this short term opportunity to get a price almost 3 cents better than the start of last week.  There is so much data due from the UK next and with so much positive news it is expected to create some real strength for the Pound.  GBPEUR traders as a result may wish to wait until next week in a hope to get better trading levels.  I don’t think it will match the highs seen last week when levels where up at 11 month highs but it could happily make a considerable difference to a property purchase.

As a result if you are in the market as either a euro seller or a euro buyer I would suggest getting in a position to trade quickly if you are not already.  Especially if you are conclude your business before the year end as we only have one week left before the silly season will hit the markets.

For more information please contact the author – STEVE EAKINS – hse@currencies.co.uk or on the phone number at the top of the page.

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Euro Strengthens against Sterling (Tom Holian)

The Pound has fallen into the 1.18s level today following the EU edging towards a resolution for rescuing problematic banks in order to avoid a problem of taxpayer bailouts. This was seen by the markets as a good thing for Europe and has seen confidence return this afternoon for the single currency.

The plan would be aimed at banks within the Eurozone and not the UK which helped to strengthen the Euro against the Pound. Under the plan an amount of up to €55bn would be made available by the EU Single Resolution Mechanism.

It appears as though Sterling’s recent rally against the Euro has ground to a halt as the exchange rates of 1.20 have fallen away over the last few trading sessions.

The ECB Monthly Report is being published tomorrow so expect some volatility on GBPEUR rates in the morning.

If you would like a free quote when buying Euros please email me directly Tom Holian teh@currencies.co.uk

GBP/EUR Levels Fall Despite Positive GDP Prediction (Matthew Vassallo)

GBP/EUR levels dropped again during Tuesdays trading, providing EUR sellers with some respite following a difficult few weeks. The Pounds recent rise has been supported by an improving economy and with GBP/EUR rates breaking through 1.21 last week, it did seem as if the Pound’s momentum would continue into the New Year.

However, as is often the case the currency markets have proven unpredictable and the EUR has started to claw back some of its recent loses over the past 48 hours. European Central Bank (ECB) President Mario Draghi has been more bullish in recent addresses and it seems as if the markets have reacted to this, with the EUR moving approximately 2 cents away from last weeks low.

With the next ECB report due out on Thursday, followed by another address by Mario Draghi, we may see the EUR regain further ground, with a move back below 1.19.

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

GDP key for how the pound goes forward to the end of the year. (Ben Amrany)

After a disappointing end to last week for the pound against the Euro, we saw sterling stabilise yesterday trading in the early 1.19’s. After spiking at the best levels since January at over 1.21 a €200000 Euro purchase now would cost you over £3000 more.

The trick now is trying to work out if this trend is going to continue. Last December the pound was well above 1.20 and within 6 weeks sterling had fallen to roughly 1.15. This was a significant loss and caught many clients out.

With Mark Carney the Governor of the BoE last night stating that the UK economy needs a sustained low interest rate to spur growth and repair the stricken banking sector the pound may remain under some pressure for the next year or so until we do eventually see a rate hike in 2015 to 2016.

If you are considering buying your currency but missed the spike last week and are concerned the pound may continue to fall then feel free to contact myself Ben amrany on bma@currencies.co.uk

The big story of the day though will surely be the GDP estimate by the NIESR out at 3pm. Recently the growth figures for the UK have been excellent with gains now expected to be up at around 0.7/0.8%. Should we see a contraction on this figure then this could be what sends the pound back down below 1.19. If a figure above 0.8% occurs then sterling will surely try and reverse its recent losses against the Euro and push towards 1.20 once again.

The tricky thing with the currency markets is that nothing ever goes to plan which is what makes predicting future rates extremely hard. In theory a strong GDP number will give the pound a boost but with releases from other economies nothing is certain.

Just before our GDP estimate the president of the ECB Mario Draghi has a press conference and his comments on the Eurozone will cause some volatility around midday. Last week Mr Draghi upgraded the Eurozone’s growth forecast and appeared to be cautious of any further easing. His comments put more optimism in the Eurozone and I feel it may now be difficult for the pound to claw back its losses back over 1.20 this week.

If you are selling the Euro then this afternoon between 12 & 3pm may offer a window of opportunity to achieve slightly better than what is currently available. This would represent an attractive level to sell your Euros compared to where we were last week.

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

 

 

Selling Euros – buying pounds – Best FX price – STEVE EAKINS

Sterling prices remain worryingly close to the 1.20 level it has visited on only a handful of occasions this year. In the past following the levels breaching 1.20 we find levels fall below within a few weeks.  Very concerning for GBP sellers who are buying property or other assets in the single currency.  Later today we have the UK Budget statement, UK and European Interest Rate decisions meaning I would be surprised if we did not see rates change by upwards of a cent today.  A
majority of the data is released within a tight time period of between 11-2 GMT.  Spikes will probably be avalible and we could easily revitis the highest or lowest levels seen in weeks.

Meaning that if you are in the position looking at moving currency today is very important.  If you would like any assistance with your transfer please feel free to contact the author via email – hse@currencies.co.uk or on the phone number at the top of the page.  The gentleman’s name is STEVE EAKINS

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Tomorrows interest rate decisions and press conference from the ECB will give further clues as to the short term direction for GBP/EUR (Mike Vaughan)

Sterling has rallied to its highest levels since January against the single currency yesterday breaching 1.21, however following more positive Euro Zone GDP data this morning the Euro has found some strength and shifted to a high of 1.201 before teh pound recovered this afternoon closing at 1.2055. Anyone looking at GBP/EUR tomorrow should watch out for the Bank of England and European Central Banks interest rate decisions at 12:00 and 12:45. Both are expected to remain at 0.5% and 0.25% but watch out for the post decision press conference from Mario Draghi at 13:30 for any future clues as to where GBP/EUR may head in the coming weeks.

As a specialist foreign exchange broker we have a number of contracts available to help clients maximise your foreign exchange. Should you have an upcoming transaction to arrange and you would like help and assistance with the timing of your transfer then please get in contact. We are here to help and pride ourselves not just on our attractive commercial rates, but also the hands on approach in helping our clients. To discuss the service in more detail contact the office on 01494 787478 or email Mike at mgv@currencies.co.uk

 

Is 1.20+ here to Stay? (Tom Holian)

So with GBPEUR rates having hit 1.20 and above this week the question is how long will they here for? The answer is likely to be provided this Thursday as the Bank of England and the European Central Bank release their latest interest rate decision. I personally think that it’s unelkily eitther will cut rates which could send the Euro below 1.20 if the status quo remians. I say this as there is a small chance of another rate cut by the ECB and if this happens we’ll see GBPEUR rates well above 1.22 but I don’t think it’s going to happen.

If you do want a quote when buying Euros and want to see if you can buy at 1.20 or above then contact me on email Tom Holian teh@currencies.co.uk

GBPEUR could easily fall back, have you made provisions?

The outlook for the pound against the Euro is very much positive and I think if you have any euro to Gbp transfers, moving soon is the best option. Otherwise anyone selling Euros may find that looking to buy GBP becomes more expensive.

The first indication is that the Eurozone is looking to loosen their monetary policy in the future. This could be in the form of a negative interest rate or even in the form of lower interest rates. Either way with inflation falling and worries over economic growth high on investors minds, the Euro is definitely looking more vulnerable than a few months ago.

I expect the euro to trade within a range of 1.19 – 1.23 in the coming month or so. Further spikes for the pound look certain and could be realised as soon as this Thursday when we have the Chancellor’s budget statement and the Bank of England and European Central Bank decisions.

If you are planning a transfer in the coming days, weeks and months please don’t hesitate to contact me for more information on what will move your rate and how to go about securing the best deals.

jmw@currencies.co.uk

Best Sterling price – buying sterlingbuying euros

Sterling continued its climb this week reaching fresh highs not seen since the beginning of the year, giving people with euros to buy that missed the opportunity 3 weeks ago another change. This came from more promising UK data with house prices climbing and manufacturing data on the up.  This week data to watch includes European GDP figures tomorrow and interest rate decisions by the central banks both side of the channel on Thursday.  Both have the potential to move rates significantly if there is any surprises. I personally don’t expect any policy change due to it being December, central banks have been against change historically this month due to the shut down over the festive period.

My view is that the trend does seem to be in the favour of Euro buyers, or in fact anyone selling the Pound current so rates may improve.  However we also have to equally respect the high that we are at now.  Depending on the amount you are moving and the timeframe you have remember that you don’t have to trade all at one point in time.  I would be looking to limit my exposure by trading a proposition at the moment to take advantage of these high.

If you are in the position considering a currency exchange and have found this website useful, why not get in contact? All the authors work for one of the leading currency brokers in the UK and will give you access to award winning exchange rates that could save you thousands against your current provider; whether that be a bank or another broker.  It is a 5 minute conversation that could save you months’ worth of savings. Contact the author – STEVE EAKINS – directly via his email at hse@currencies.co.uk or by calling the number found at the top of the page or the Freephone number 0800-328-5884.

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