Monthly Archives: January 2014

Sterling pushes through 1.22 (Mike Vaughan)

Sterling has ended the week and month on a positive note pushing through 1.22 creating some good buy opportunities for the Euro. Next week could prove very voilaitile as is often the way for the first trading day of the month. For this reason it is important to keep yourself updated with the current market trends.

Should you have an upcoming bank to bank money exchange to arrange and you would like assistance with your transfer then please get in touch. When making your decision about the timing of your transfer it is best to get as much information as possible. To find out more about the currency service we provide and the various contracts we can offer then please get in touch on 01494 787478. Alternatively email me with a brief overview of your particular requirement and I will happily get in touch to run through your options and to discuss the current market trends. Email Mike at mgv@currencies.co.uk

UK Consumer Confidence High (Tom Holian)

UK Consumer confidence has started the year on a high increasing during January following a previous drop during the last three months. Consumer confidence in teh UK is now the highest level in over 6 years giving Sterling some support against both Euro and Dollar.

The UK Mortgage approvals which came out yesterday showed that net mortgage lending was up against the forecast and mortgage approvals increased to over 71,000 as the British property market increases in confidence.

US GDP rose to its fastest pace in many years which has led to Dollar strength but not had too much of an effect on Sterling Euro exchange rates. Next week will be more interesting for the currency markets as interest rates will be the news of the week for Sterling and Euro both due next Thursday.

Eurozone unemployment is due at 10am so expect a bit of volatility for Sterling Euro exchange rates if the figures come out different to expected.

If you have a currency transfer to make and want to save money compared to using a bank then contact me directly Tom Holian teh@currencies.co.uk

FED decision as expected and market does little to react. Euro zone consumer confidence figures the focus this morning (Mike Vaughan)

Following the FEDs decision to continue with its tapering of QE the market has done little to react as this was expected. This brings the focus this morning to Euro Zone consumer confidence figures which are expected to show a solid improvement and could lend support to the Euro this morning. This release is scheduled for 10:00.

To finish off the week for GBP/EUR Friday is relatively quiet day from the pounds point of view but watch out for inflation figures from Europe at 10:00 along with unemployment data. Unemployment is expected to stay at 12.1% but any deviation from this and expect volatility for Euro exchange rates.

Should you have an upcoming exchange to arrange and you would like to discuss the currency service we provide and how we can help you achieve a better exchange rate than major banks and other institutions then please contact the office on +44 (0) 1494 787478 or email Mike at mgv@currencies.co.uk

A Quiet Day for GBP/EUR Exchange Rates (Matthew Vassallo)

It was a quiet day on the markets for GBP/EUR with rates holding above 1.21. The EUR has found some support around the current levels, after early week loses. The single currency had threatened to make inroads against its Sterling counterpart following Mark Carney’s statement last week, where he announced that UK interest rates were likely to stay on hold for the foreseeable future. This statement seemed to dampen market expectations and the Pound dropped by almost 2 cents against the EUR.

However, these loses were quickly erased following the release of yesterday’s positive GDP figures and with a quiet week remaining in terms of economic data releases I do not expect any major swings before the release of next Monday’s Manufacturing PMI data.

If you have an upcoming currency requirement and need to be kept up to date with all the latest market developments, or simply wish to compare our exchange rates with your current provider, then please feel free to contact me directly at mtv@currencies.co.uk. Alternatively, you can contact one of our experienced brokers today on 0044 1494 787 478.

Sterling – Euro exchange rates remain steady

Daniel Wright

The Pound – Euro exchange rate has remained fairly steady in trading today with very little economic data out for either currency to feel off of.

We do have Governor of the Bank of England Mark Carney speaking a little later on which has the potential to lead to some market volatility and if you are looking to buy or sell Euros in the near future then you must be wary of the Federal Reserve interest rate decision this evening. No change in interest rates is expected however this can have an effect on global attitude to risk so  do be aware we may see some evening market movements if any comment on future fiscal policy or tapering of Quantitative Easing is made.

We have a stack of data out for both the U.K and Europe tomorrow so I would expect to see some great buying or selling opportunities arise throughout the morning – If you would like to be kept fully aware of any spikes in your favour then feel free to get in touch with me directly, I can assist with bank to bank transfers involving most major currencies.

If you feel the service may be of use then feel free to email me on djw@currencies.co.uk with a brief description of what you are looking to carry out and I will be more than happy to assist you personally.

 

It is often the greedy who get caught out!

GBPEUR has been up at excellent levels in 2014 presenting some remarkable opportunities compared to the kind of rates available last year. Just what can we expect now for the pound and euro exchange rate?

Well my personal opinion is we will now start to see a bit of a correction and the rate to remain subdued, perhaps to fall closer to the 1.20 or .8330.  I think the strength of the UK’s recovery is being overrated and I think it will be a very long time before Interest rates are raised.

How solid is this recovery?

Much of the recovery is now dependent on the property market but this is already leading fears that we are creating a bubble. What would be ideal is a recovery based on strong Manufacturing and Industrial data but the most recent data for these sectors showed no growth at all. The Services sector is equally important but this too showed a slowing rate of growth below expectations. Retail figures were strong but so they should at Christmas.  With many retailers slashing prices even before Christmas it may be that they have ‘borrowed’ from January figures to boost December.

Looking ahead the recovery should remain but there are risks. So long as inflation is outstripping wages it will not feel like much of a recover for most people and with this situation likely to remain for some time, it is very difficult for the Bank of England to raise interest rates, a key determinant of sterling strength.

If you are considering a currency exchange for the future, we can help assist with much better rates than the banks and also offer assistance with strategies to maximise your rate. For more information please contact me Jonathan directly on jmw@currencies.co.uk or call 01494 787 478.

All eyes are on GDP figures this morning as the UK is set for yet another good day

Today sees the latest release of GDP figures from the office of national statistic. This is the first estimates for the last quarter and expected to show yet another improvement for the UK. It’s also expected to confirm that the UK has now had 4 consecutive quarters of growth in a row, the first time since before the recession so a good 6 years.  You can kind of understand as a result why the Pound has been climbing against so many currencies as a result.  Rates are expected to climb giving buyers a great time to buy, potentially re-visiting the YEAR HIGH saw last week.  Sellers however have a more difficult question to answer, when do I trade? The answer is a difficult one as the options are to either cut your losses and move before the release or wait until the month end with a hope that “profit taking” could weaken the Pound and give an opportunity as a result.  In either case I certainly believe that the Pound will continue its trend of gains against most major currencies next month. Meaning that things are going to get worse, currency markets however don’t move in a straight line so there will be better times than others.

This is the service that we offer here, along with a pro-active service helping you time your trade, we have access to award winning exchange rates helping you save money in either case against your currency provider; bank or broker.

For more information, a free quote request or a chat about the forward views please get in contact. Contact the author STEVE EAKINS via email at hse@currencies.co.uk or on the number 0044(0)1494 725353

 

GBP/EUR over 1.21. Best buying Euro rates (Ben Amrany)

Sterling recovered its losses after last week fall against the Euro where we witnessed the rate fall from 1.2230 down to 1.2020. Comments from both central banks in the UK and the Euro zone went to contribute the Euro strengthening. Before the central bank comments the pound was up at well over a year high.

Mark Carney the Governor of the Bank of England stated that a further fall in unemployment will not mean an automatic interest rate hike in the UK. If you couple this with the comments by Mario Draghi the president of the European central bank talking about the dramatic improvement in the economy over the last two years it all lead to the Euro recovering its losses.

Today we saw the pound bounce back up to 1.2130. The rate is on a real knives edge at the moment and it is difficult to predict which way it may head. I personally think that if you can exchange your funds while sterling is above the 1.20 rate you will be doing well.

To get the best exchange rate on your transfer please do feel free to contact myself Ben Amrany at bma@currencies.co.uk I offer a very personal service to help you try and judge when is a good time to convert your funds. if you are looking to make a saving over teh high street banks then please do feel free to contact me.

 

 

Sterling falls on Carney comments (Mike Vaughan)

Sterling has ended what was a strong week posting heavy losses against the Euro following comments from Mark Carney (head of the Bank of England) at the World Economic Forum in Davos that interest rates were set to stay at 0.5% for some time and no immediate action will be taken even though the UK’s unemployment picture is improving at a faster pace than expected. He also indicated that sterling appreciation would hamper growth. As a result sterling has fallen from the week high of 1.223 (a one year high) back to a low of 1.2045 a possible window of opportunity for Euro sellers as I still firmly believe the pound is set for a stronger year against the single currency.

Should you have an upcoming exchange to arrange and you would like to discuss the currency service we provide and how we can help you achieve a better exchange rate than major banks and other institutions then please contact the office on +44 (0) 1494 787478 or email Mike at mgv@currencies.co.uk

 

Sterling rates continue to show signs of improvement

Many people have been discussing about the changing forecast of interest rates in the UK and how this could impact the rates significantly.  I myself have also highlighted this potential event in the future.  However as the head of the Bank of England seems to re-confirm that he is not going to change rates for a pro-longed period of time, have rates already priced this in, are rates actually not going to correct?  This argument I think is becoming equally as strong meaning if you are holding euros and waiting for a pop you may be waiting for some time.  He has hinted it will be the Monetary Policy committee within the bank to make the majority decision and that any change will happen potentially on Februaries Inflation Report, which is weeks away.

In the nearer future we have UK GDP figures due on Tuesday next week, this is expected to show yet more gains in the strength of the UK economy which could easily push the value of the Pound up higher.   GBPEUR traders needing to move this month could be wise to wait for this event.  If you have longer than that however I can see the argument to wait and see but please respect that levels are at  13 month high.  Last Feb/Mar we saw GBPEUR levels drop by over 4 cents so things can change very quickly. Contact us today to register your interest in the markets.

We here provide a pro-active service helping you time your trade and with over 13 years’ experience we are very comfortable we will be able to save you money against your current provider, if that was not the case we simply would not be in business!

Contact myself – Steve Eakins – at hse@currencies.co.uk or by calling +44 (0) 1494 787478

 

Strong day for the pound yesterday but the Euro on the up this morning (Mike Vaughan)

Sterling exchange rates had a strong day yesterday passing through 1.22 for the first time in over 12 months. This came as a result of much better than forecast unemployment data with levels falling from 7.4% to 7.1% rather than the 7.3% as previously predicted. Is this run set to continue? This morning the Euro has clawed back just shy of 0.5% however for me I believe the pound is on path to head towards 1.25 and would suggest anyone buying Euros could get more value in the coming weeks and months. Should you be selling Euros however I do not see any real benefit of you holding on and you may wish to use this morning’s small spike as an opportunity should your funds be available. If your funds are not available and you would like to discuss the forward contracts we have available to guarantee your rate in advance then please get in touch.

Looking ahead to today we have a speech from Bank of England member Paul Fisher at 09:00 and Euro Zone consumer confidence figures at 15:00. These figures are expected to show a slight improvement so could lend more support to the Euro this afternoon.

Should you have an upcoming exchange to arrange and you would like to discuss the currency service we provide and how we can help you achieve a better exchange rate than major banks and other institutions then please contact the office on +44 (0) 1494 787478 or email Mike at mgv@currencies.co.uk

Sterling gains against the Euro (Matt Vassallo)

GBP has made further gains against the EUR during Wednesday’s trading following the release of this morning’s UK unemployment figures and Bank of England (BoE) minutes. Unemployment figures fell more than expected to 7.1% and was viewed as a major positive for the UK economy, predominantly because it is edging ever closer to the 7% target that the BOE set before they would consider raising interest rates. In truth I think before any prospective interest rate hike, we will need to see unemployment fall below 7%, along with wage increases beyond the 1.8% that is predicted.

There was also good news for the UK as government borrowing costs fell in December and this all lead to a spike for GBP against the EUR, with levels hitting 1.2235 at the high. Whilst UK interest rates may not be rise immediately, I do feel it is inevitable and this will be viewed as a major positive by the markets. The one concern for those anticipating further GBP gains against the EUR is that the BoE feel Sterling is gaining too much market value, which could in turn negatively affect our export industry.

If you do have an upcoming GBP/EUR currency requirement and would like to be kept up to date with all the latest market movements, or simply would like to compare our exchange rates with your current provider, then please feel free to contact me directly at mtv@currencies.co.uk.

 

Sterling strength looks very much on the cards

Just how much higher can we expect sterling to climb? There appears to be an expectation that rates could move a good couple of cents higher and I would have to agree with these sentiments at present.

GBPEUR rates has been soaring since the UK economy has shown signs of improving. The outlook for the UK appears to be going from strength to strength and with the value available on GBPEUR it is tempting to look ahead and really just see this headed in one direction. Will this be the case?

I do think it foreseeable that rates will start a climb toward 1.25 now. So long as the UK keeps improving and events in the euro cause investors to remain cautious it is difficult to see either the pound dramatically weakening or the euro dramatically weakening.

Tomorrow is some very important data for the UK which I shall be closely watching for signs of improvements in the UK economy. For more information everything that is moving the market and the latest forecast please feel free to contact me on jmw@currencies.co.uk or call 01494 787 478.

Buying euros this week – Unemployment news – STEVE EAKINS

European ZEW survey today came out positive for the Europeans however they still lost ground against the Pound. The reason for this was that the IMF has upgraded their forecasts for UK growth through 2014 to 2.1%, up from 1.8% previously.  This gave strength to the Pound and countered the euro strength this morning. GBPEUR levels are again standing at the high levels close to a 12 month high.

Next on the horizon is Wednesday when we have probably one of the last big economic events for the month.  UK Unemployment figures and BOE minutes.  Unemployment is linked to potential interest rate change so will be keenly looked.  It is expected to show a contract and therefore increase the likelihood of interest rates going up in the UK in the near future.  This will give the Pound strength if confirmed and could give euro buyers the best price for a long period of time.

If you are in the market looking for the best time to buy euros this could easily be the time.  A SPIKE will probably follow meaning moving quickly will probably give you the best price. Be sure to register your interest for this breaking news by getting in contact.

Feel free to contact the author – STEVE EAKINS – for more information including live prices, live quotes, up to date forecasts and strategic options.  Contact him via email at hse@currencies.co.uk or by calling the number on the right of this page.

 

Wednesday may bring the best rates for buying Euros in over 1 year (Ben Amrany)

Sterling/Euro has had a very flat day trading as the markets are awaiting key economic data out of the UK and the Euro zone this week.

Tomorrow in Europe the ZEW survey will be released in Germany. This gives us an indication on business sentiment in Germany and can be a key indicator which can have a big influence on the Euro in general. Then on Wednesday the biggest release of the week will be in the form of the Bank of England minutes and the unemployment rate for the UK.

Unemployment is being heavily scrutinised as it seems to be having a direct link to interest rates. the lower unemployment falls the more pressure there will be on the Bank of England to raise interest rates. the higher interest rates are the stronger the pound will be against the Euro. Or that is the theory behind interest and exchange rates.

We may see a good spike for the pound on Wednesday when this is released along with the minutes. Over the last few months no members of the Bank of England have voted for an interest are hike but should wee see just one member vote in favour then we may see the pound rise through 1.2150 pushing to 1.22. if you are reading this and have an exchange coming up over the coming weeks or months then please do feel free to make contact with myself Ben Amrany at bma@currencies.co.uk the options available to you to help you maximise your exchange.

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

 

GBPEUR currency news – when to buy this week – STEVE EAKINS

Sterling values have fallen this morning following unemployment figures showing a contraction.  It was a surprise in the market and gave/gives EURO sellers an opportunity to get more pounds for their euros before Sterling strength returns.  The Pound is expected to recover tomorrow morning when the UK retail figures are released for December. These figures are expected to show an improvement and therefore add to the value of the Pound.  GBPEUR rates will probably climb by 0.5 cent on the news tomorrow is my expectation.

Information like this is key to achieving the best price on any currency transfer as it latterly adds hundreds of pounds worth of value within minutes.  It can make the situation a little scary for new visitors to the currency market but to get the best price and save the most money this is key.

If you are looking for assistance with a currency transfer please feel free to get in contact. We have over 12 years of experience helping people move funds internationally and completing currency transfers.  Contact the author STEVE EAKINS via email at hse@currencies.co.uk for a free quote request.

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Pound remains stable around the 1.20 level (Daniel Wright)

Sterling Euro exchange rates have remained fairly steady in trading today with very little economic data actually released either for the Eurozone for for the U.K.

We did have some fairly positive mortgage data out for the U.S which actually resulted in Sterling dipping in value a little during the middle of the day but as I write this the Pound has made a recovery against the Euro to pretty much exactly where it started off this morning.

Many of my clients are currently looking to achieve 1.20 as an actual buying price for their Euros and we are now starting to get exceedingly close, if you are also in this position it may be prudent to get in contact with me directly by emailing me on djw@currencies.co.uk with a brief description of what you are looking to do and a telephone number.

Tomorrow morning brings a flurry of inflation data for the Eurozone which will no doubt cause volatility and we then await Retail Sales figures from the U.K at 09:30 am on Friday to round off the week.

 

Sterling Euro will probably recover towards the end of this week (Jonathan Watson)

The pound to Euro rate has slowly ebbed higher today as expectations of the UK recovery staying ahead of Europe continue. Some comments by George Osborne the Chancellor that Europe needs to address problems to become more competitive may also have helped the mood.

My post here on our sister site explains the main driver on sterling right now and I expect this will continue to be a feature of GBPEUR throughout 2014.

Friday we have UK Retail Sales figures which I expect to be positive for the pound. On the whole retailers discounted early (some even before the 25th) to make up for slower trading and despite some supermarkets being down I expect the overall picture for Retail to be a positive one. If you are looking to sell Euros to buy sterling then moving before Friday could be wise particularly since the overall trend is GBP positive, Euro negative at present.

If you are considering any upcoming currency exchange and would like more information on the markets and much better exchange rates please feel free to contact me on jmw@currencies.co.uk or call (+44) 01494 787 478 and ask to speak with me Jonathan.

GBPEUR update – Buying EUROS – Selling EUROS – STEVE EAKINS

GBPEUR rates have provided EURO sellers an opportunity this week. Thanks to poor US data and better than expected European data the euro has strengthened nearly 2 cents within the last 2 trading sessions. I expect this to end today as the UK data starts to be published again this week. Rates are not hugely attractive for euro sellers at the moment when compared to rates seen only 6 weeks ago however the trend is very likely to return back against EURO holders. The European Central Bank (ECB) has cut interest rates, unemployment is still a big problem across the single currency, and there is no real plan in place to create unified growth across the region. Draghi, the head of the ECB has even only a few weeks ago said that levels could stay low for years.

As a result if I was holding euros I would be very interested in locking in levels currently, I think in the weeks ahead this level will be seen as one of the best on offer through January.

If you are in the reverse and looking at buying the single currency, it will depend on the time frame that you have as to when I would trade. If it was this week I would move on Thursday, within two weeks it would probably be next week on Thursday.

If you are trading the GBPEUR pairing or any currency, please feel free to get in contact to discuss your situation. I am 100% sure we will be able to save you money compared to your current provider, otherwise we would simply not be in business.

Contact the Author – STEVE EAKINS – via email at hse@currencies.co.uk or call on the number at the top of the page and ask for STEVE EAKINS.

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GDP Data will be the key to GBPEUR Exchange Rate Movement Today (Tom Holian)

Eurozone GDP data came out this morning for the year on year at -0.4% which was in line with expectation. This has done little to affect Sterling Euro exchange rates even though the data is low. GDP is a broad measure of Eurozone economic activity and health and a falling trend is likely going forward to be detrimental to the single currency.

Later today the NIESR releases its own GDP figures for the UK for December. Although the report is not official it does give a good indicator as to the ONS’s report for GDP. The expectation is for growth of 0.8% so anything above this afternoon could see Sterling break higher against the Euro providing some more excellent short term buying opportunities.

Monday and Tuesday next week is full of key announcements for the Eurozone and the UK with various inflation data due out. Inflation measures the cost of living and low inflation is often combated by cutting interest rates. With European interest rates currently at 0.25% and record lows it will be difficult for the ECB to cut rates so expect potential discussions on further monetary easing if this happens.

if you would like to save money when buying or selling Euros then please do not hesitate to contact me directly for a free quote Tom Holian teh@currencies.co.uk