Monthly Archives: March 2014

Will GBPEUR hit 1.22?

The outlook on GBPEUR appears to favour the pound over the Euro and 1.22 on the interbank rate seems a real possibility. All it will take is a bit of positive GBP news or negative Eurozone news to get things moving. We could see this as early as tomorrow when we have UK Manufacturing PMI Man (Purchasing Manager’s Index) data released. If you need to make a currency exchange this information will be vital to getting the best deal.

Representing a snapshot of economic performance in the last month there is plenty of opportunity for this release plus other PMI data for Construction and Services on Wednesday and Thursday. Eurozone data has not exactly set the world alight today, the falling inflation could be a concern going forward. The ECB will give further indications of this on their Thursday meeting.

If you have a transaction to consider understanding the process and market forecast for your transaction is key to getting the very best rates of exchange. For more information on everything happening and how it all works please contact me Jonathan on jmw@currencies.co.uk

GBP/EUR back to 1.21 (Mike Vaughan)

Sterling has had a much better end to the week pushing close to 1.21 following some better than expected retail sales figures yesterday morning. Figures excluding fuel were forecast at 0.3% and surprised the market coming in at a strong 1.8%. This has continued the recent volatile run for this pair and brings back opportunities for those looking to buy at the 1.20 level.

This morning UK GDP data was released as expected and had little impact. However following German inflation figures at 13:00 the Euro rallied back to 1.208 but the pound ended the day back above 1.21. The volatility for the pairing is continuing and makes keeping contact with your broker hugely important to take advantage of any market movement.

Contact the office on 01494 787478 or email Mike at mgv@currencies.co.uk to get more information regarding the currency service we provide.

Sterling Euro 1.21 (Tom Holian)

Yesterday’s UK retail sales saw the British economy picking up boosted by consumers spending money in the high street which helped the Pound gain against the Euro. Even with the UK GDP forecast being revised down to 1.7% from 1.8% which was the previous estimate the Pound has remained strong against the single currency.

Since the turn of the year businesses have seen good growth with the manufacturing sector seeing growth of 0.5% during the last quarter and with the recent UK Budget things appear to be looking rather positive for the Pound.

The British Chambers of Commerce has said that the data from the Office for National Statistics ‘supports our view that the UK recovery remains on course.’ There is in my opinion a long way to go for the UK still in terms of full on pre 2008 levels but in my mind the Pound seems a better bet at least for the meantime than holding Euros.

This is why we have seen Sterling recover against the Euro and create the best buying opportunities for the last month.

In order to save money when buying Euros then contact me directly Tom Holian teh@currencies.co.uk

Positive UK Retail Sales Figures Give the Pound a Boost (Matthew Vassallo)

The Pound received a boost during Thursday morning’s trading, following the release of the latest UK Retail Sales figures. The figures released outweighed expectations, with an improvement shown across the board. Concerns over what affect the recent bad weather would have seemed to sap market confidence in GBP but with positive readings GBP/EUR rates have now moved back towards 1.20 on the exchange.

Anyone with an interest in GBP/EUR developments should be keeping a close eye on tomorrow’s UK Gross Domestic Product (GDP) figures, which are a key indicator into the relative health of the UK economy. If the reading is positive it is likely we will see GBP/EUR rates move through 1.21 on the exchange but any reading weaker than expected, is likely to cause Sterling to come under pressure as we end the trading week.

If you do 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 at mtv@currencies.co.uk.

GBP/EUR over 1.20 (Ben Amrany)

Sterling has spiked against the Euro to a high of 1.2019 against the Euro today. This is representing a very attractive level after the pound was 1% lower 24 hours ago. The next couple of days economic data will be key for how the rate will perform.

Tomorrow’s retail figures should be closely monitored before the GDP figures are out on Friday. It will be interesting to see if the bad weather has had an impact on retail figures and also the GDP. I do however expect sterling to remain above 1.20 towards the end of the week.

If you are looking at buying or selling the Euro then feel free to contact me at bma@currencies.co.uk and I can explain the options available to you.

GBPEUR rates set to fall further – trading at 2014 lows, great for euro holders – STEVE EAKINS

GBPEUR rates remain relatively unchanged this week so far however we have visited again this week the lowest levels seen through 2014.  There have been times the inter-bank level has been close to falling below 1.19 and I for one can see this level being breached later this week.  Earlier this week European Data continues its run of strength with business confidence in Germany at a 1 ½ year high and over manufacturing growing at the fastest pace seen for nearly 3 ½ years.  The UK is also releasing data which is making the Pound weaker, yesterday’s inflation data for example was at a multiyear low pushing back the timeframe that we could see an interest rate climb coming from the Bank of England.

Tomorrow we have UK Retail figures and on Friday UK GDP figures, both are expected to show negative or natural figures meaning there is a real risk we could see GBPEUR levels fall further.  It was only a few weeks ago that we saw the trading level at a 13 month high but since then GBPEUR levels have fallen nearly continually and now site nearly 2.5% lower.  If you are a GBPEUR trader and need to buy euros then it would certainly be worth reviewing your strategy. Here with Limit Orders and Rate Alerts there are options to limit your exposure, all designed to help you make a more educated decision and achieve the highest prices.  Both are free to our clients here and we offer to readers to this blog at no charge – simply contact myself to register your interest via my email at hse@currencies.co.uk or by the normal telephone number +0044 (0) 1494 787 478

 

GBPEUR remains range bound but for how long…

The outlook on GBPEUR would appear to favour the pound but the sentiment lately has turned and the risk of sterling falling lower seem very real. All in all the market is not one I would be taking too much of a gamble in. If you need to buy the euro with sterling taking stock of current levels is probably very much worth your while.

For more information on the market you should really speak to us as we can make sure you don’t lose if the rate does suddenly change. By being proactive and monitoring exchange rates for you we aim to make sure you don’t get caught out.

The current market is a very tricky one and there are still a range of opportunities to see the rate spike higher but it is all about the timing in such circumstances. For more information on what to expect and the current market outlook please contact me Jonathan directly on jmw@currencies.co.uk

Sterling Creeping Back After Inflation Figures

Sterling is slowly creeping back up against the Euro this morning after UK inflation figures come out as expected.  The news helped support a pound that has been under a bit of pressure of late.  To my mind it will be European inflation that is key to pound euro exchange rates, because recently the Euro has strengthened after inflation figures were slightly better than expected, leading markets to price out any imminent action from the European Central Bank.  However it was a big point in Mario Draghi’s press conference that whilst he felt the Eurozone was improving, and the ECB had enough in it’s locker to combat any problems, prolonged low inflation would prove very difficult to tackle.  Therefore if Friday’s German data is low, or the wider EU figures next Monday are, we could see some serious Euro weakness as the markets price in potential action from the ECB.

If you need to transfer pounds into euros, or from euro into sterling, and would like to get the best exchange rate, then please feel free to contact Colm at cmg@currencies.co.uk or call 01494 787 478 and I would be happy to help via our currency transfer service.

Tomorrow’s speech from Draghi and Friday’s UK GDP data the key for this week (Mike Vaughan)

Sterling exchange rates started the day strongly pushing towards the 1.20 barrier but have slipped this afternoon back towards 1.1950. This week watch out for inflation figures tomorrow at 09:30, followed by housing data on Wednesday from the Nationwide, official retail sales data on Thursday and possibly most importantly the latest GDP data on Friday.

Looking at the Euro we have a speech from Mario Draghi at 16:00 tomorrow afternoon. Any insight as to future monetary policy and in particular any issues relating to deflation problems and the Euro could struggle tomorrow afternoon. Should he give a nod to other policies to counteract the problem and not discuss cutting interest rates then look for some Euro strength.

To get further insight into the currency service we provide and to discuss the current market trends in more detail please do not hesitate to contact me. I would be happy to run through the service and the various contracts we can offer to see if we can help you save money when compared to your current provider. Please email Mike at mgv@currencies.co.uk

 

EUR Forecast – When to trade this week

GBPEUR rates have been very quiet this week with a movement of under a cent between the highest and lowest trading levels. This is a large difference to what we have seen through the beginning of the year when levels have moved by that much most days.  The reason behind this I believe to be down to both the uncertainty in Eastern Europe and the uncertainty from the UK budget this week.  Neither of which have as of yet impacted the currency market hugely.  Eastern Europe is still undecided and now looks like it will be concluded with Russia taking power and absorbing the sanctions put on them by the West.  The UK budget has also now come and gone with little impact. The reason behind this is that a large proportion of the new policies introduced are scheduled to take place after the election meaning these are more or a wish list rather than anything guaranteed.

Saying all the above however we expect rates to remain buoyant next week.  We now enter the last full week of the month meaning there are less data releases due which is normally the largest impact on the value of currency.  The UK release Production Price Index on Tuesday, GDP updates on the Wednesday and Retail figures at the end of the week. Europe release PMI on Monday and Money Supply figures on Thursday.  I expect rates to end next week higher than where they start the week with the highest point probably achievable on the Wednesday for GBPEUR traders buying euros.

If you are in the market for Currency make sure to get in contact for more of a personal break down of what is happening and how you can put yourself in the best position to time your trade.  All absolutely free!  Contact myself STEVE EAKINS at hse@currencies.co.uk or call me directly on 0044 (0) 1494 787478

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Flat week on GBPEUR…!

Despite high estimations of a busy week on the rates, we saw very little movement this week. Mainly due to the fact any major moves pretty much cancelled each other out. The budget was a non event and the UK Unemployment too was unflattering. The general consensus would still appear to favour the Pound over the Euro, I cannot see how this will not manifest in the future but there is a chance rates will get worse before they get better.

If you need to make a currency exchange in the future, I suggest making careful plans now to manage your risk to the current market. All in all the pound should remain supported but the last few years we have seen sterling suffer plenty of times. This could be seen as soon as next week with the final revision of last quarter’s GDP data.

If you need to make a currency exchange in the future why not get in touch with me today to run through all of your options? I can explain everything that is going on in the market and offer assistance with the actual process for making the transfers.

Please contact me directly on jmw@currencies.co.uk

Fed Minutes Help Euro Reversal But Inflation Will Be Key

The Euro dropped sharply in trading today after the US Fed surprised the markets in their latest Minutes last night.  The Euro had been riding high against the Dollar and the Pound prior to the release but it provided the trigger for a Euro sell off losing over 1% against the greenback.  We have UK inflation data out next Tuesday but I think the key event will likely be EU inflation figures due on the 31st.  Personally I think the Euro is overvalued and a weak figure there could trigger a sell off as markets price in the prospect of ECB action despite this month’s comment from Draghi.  If you are buying or selling Euro and would like assistance then feel free to contact Colm at cmg@currencies.co.uk or call 01494 787 478 and I would be happy to help.

Pound recovering, will the recent trend of Euro strength be reversed? (Mike Vaughan)

Sterling has found some support following yesterday’s UK unemployment figures and Budget and has continued in a positive fashion this morning pushing towards 1.20. Today is relatively quiet with the nexty major step being tomorrows UK public sector net borrowing figures at 09:30.

Looking at the Euro and watch out for the Euro Zone current account figures release at 09:00

For me the recent trend has been an opportunity for anyone selling Euros as I personally do not feel these levels will hang around much longer. The pound has taken a slight dip in recent weeks following some softer data which may well have been affected due to the recent adverse weather. For me this is just a short term trend and I would expect the pound to recover in the next few weeks and months. Should you be selling the near 2% shift in two weeks should represent a good return in my view.

Should you have a currency transfer to arrange and you would like more information on the service we provide please email Mike at mgv@currencies.co.uk

 

Budget News (Tom Holian)

Today’s Budget and UK unemployment data were expected to cause shock waves during trading session as both were eagerly anticipated. However,throughout the day we saw very little volatility for GBPEUR exchange rates. I for one thought we would see Sterling break through 1.20 against the single currency so was surprised to see little movement.

The Budget was seen as good for savers and business and the UK’s growth forecast was also increased which is why I thought we’d seen more Sterling strength following the announcement.

Tonight’s decision by the FED to continue with their tapering has helped to strengthen USDEUR rates so I would expect the Euro to weaken during tomorrow morning against the Pound.

If you have a currency requirement to make then contact me directly Tom Holian teh@currencies.co.uk

 

Streling Coming Under Increasing Pressure (Matthew Vassallo)

Sterling is coming under increasing pressure as we move through the trading week, with further loses posted against the EUR during Tuesday’s trading. GBP/EUR exchange rates have dropped by almost 3 cents over the past two weeks, with the single currency now putting pressure on 1.19. GBP should find a lot of resistance around this level but if the EUR does breach 1.19 for any sort of sustained period we could see Sterling struggle to recover in the short-term. Whilst the UK economy is no doubt in a far healthier position than it has been for some time, the same came be said of the Eurozone and to me there is far more scope for the EUR to improve when you consider recent historical trends on the currency pair.

Anyone with a GBP/EUR requirement will be keeping a close eye on tomorrow’s UK unemployment figures and Bank of England (BoE) minutes, which are likely to prove key in determining Sterling’s next move.

If you do 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 rates with your current provider, then please feel free to contact me directly at mtv@currencies.co.uk.

Will the Euro continue to strengthen against the pound after tomorrow’s key data releases? (Ben Amrany)

The pound has continued to weaken against the Euro in anticipation of the key data releases being released tomorrow. All within the space of a few hours we will learn how the markets will react to the Bank of England minutes, unemployment data and the budget. If you are concerned about the outcome of the releases then feel free to contact myself Ben Amrany at bma@currencies.co.uk and I can discuss the options available to you.

UK Unemployment figures

Currently sitting at 7.2% the markets have been eagerly watching this release ever since the BoE Governor Mark Carney stated that once unemployment falls below 7% they would consider hiking interest rates. Last month was the first month that the figure came out worse than expected. If we see the rate head back down towards the 7% level then this could cause a spike as the debate about interest rate hike will come into force once again.

Bank of England MPC Minutes

This release gives us an indication on what way members of the MPC voted on interest rates and QE from the decision two weeks ago. It is always very interesting to see how many members have voted for a rate hike or for it to stay the same. Recently all members have voted for interest rates to stay at the same 5 year low of 0.5%. Should just one member vote for a rate hike then again this could give the pound a slight boost and if economic data continues to be positive this will be one to watch over the next few months.

UK Budget

Always very hard to predict how this will affect the pound. Chancellor George Osborne will no doubt confirm how all the recent austerity cuts have helped the economy to grow in the last year and give himself a big pat on the back. He will be aware as all of us are that the recovery is far from over. This could mean that he implements further cuts and tax hikes to continue to try and reduce the countries budget deficit.

If you are looking at buying or selling the pound in the run up to this extremely busy period you may be wise to look at your exchange in advance of Wednesday to limit your exposure to currency fluctuations.

I feel you will see the pound be fairly stable up until Wednesday and if you see a spike in the right direction my recommendations would be to capitalise and not take too much risk.

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 forecast this week – UK BUDGET IMPACTS

There is a host of economic data for the UK this week which could potentially create some movement up from the year low visited at the end of last week.  It starts slow with little due on Monday, Tuesday we have the head of the Bank of England speaking and expected to show more information about future policy of the Bank.  Wednesday will probably be the busiest day for the pound with; Bank of England Minutes, Unemployment Figures and the UK BUDGET all released.  These could easily swing the market giving traders the opportunity to save thousands on their transfer if timed well.

If you have a currency transfer to make you really need to be available to move quickly on Wednesday or put tools in place to limit your exposure.  Wednesday could result in the GBPEUR pairing moving by as much as 2 cents adding over €4,000 on a £200,000 transfer within minutes.  Here we will be working flat out and giving our clients SPIKE NOTIFICATIONS and RATE ALERTS to help them time their trade. If either of these are of interest make sure to get in contact within the next 36 hours before the big day.

Eastern Europe is also having an impact on the markets, movement in the currency market has been down as the normal trading levels have dropped.  The theory being that the amount of money being speculated on the currency market is down as some speculation in stocks like oil, gas and wheat increase.  Any developments in Ukraine could easily bring these levels of speculation back with a movement in rates being the result.

For more information on any of the above or to talk through how we could help you in your situation feel free to contact myself, STEVE EAKINS, via email at hse@currencies.co.uk or by calling +0044 (0) 1494 787 478

 

A Bad Week for Sterling (Matthew Vassallo)

It’s been a bad week for GBP, as the EUR has continued to strengthen, moving away from the recent lows. This negative move for the Pound has come about despite very little economic data being released for the UK. This indicates that external factors have helped to drive the Pound’s value down and it could well be that Sterling’s recent run has come to an end.

Anyone with a GBP/EUR requirement should keep a close eye on next Wednesday’s Bank of England (BoE) minutes and UK unemployment figures, which are likely to be a key market mover.

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 exchange rates with your current provider, then please feel free to contact me directly at mtv@currencies.co.uk.

Sterling recovers some of its losses. (Ben Amrany)

Today the pound has recovered some of its losses against the Euro. This morning we witnessed the pound fall to a low of 1.1935 before recovering. The loss for sterling against the Euro has been concerning if you are buying the Euro. Since last Thursday the rate has fallen from 1.22 to today’s low.

Looking forward I do feel that the rate of exchange could well recover for sterling and next weeks key MPC minutes which outline how many members of the MPC voted for rates to stay the same. If no members voted for a rate hike this may well just boost the pound.

In Europe the situation with the economy is very different with falling inflation, unemployment still dire the ECB may well just have to look at adjusting interest rates in the future. This is what may well tip things in the pounds favour.

If you require an exchange then I can help you beat the rates of exchanges that your banks offer you by sometimes up to 4%. As well as offering a very personal service to give you the information needed to help you judge when you should do your exchange there are not many services out there like ours. If you wish to discuss your requirement in more detail feel free to call the number on this page and ask for myself  Ben Amrany. Alternatively you may email me at bma@currencies.co.uk

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 RATES UPDATE

The pounds value has continued to fall this week giving buyers of the pound a welcome opportunity to get a much better price than over the last 3 months. Levels today, especially against the euro, are towards the best seen for a few months.  The reason for these falls can be put down to a multiple of reasons.  Generally data in the single currency has been improving a the euro has been taking the position as a safe haven sharing the title with the pound.  Money seems to be flowing between them meaning values are reflecting the demand.

Spain has recently also had their credit rating upgraded by several grades following their economic plans following the forecasts even with the cuts introduced over the recession.  Portugal has also released some improving data recently.

The future remains unsure for the GBPEUR pairing for the rest of the month. I personally cannot see to many economic events in the calendar that will give any real movement to the pair and now think it is likely to stay range bound between 1.19 – 1.21.  This different however small still makes a huge difference on your transfer however, buying euros with £200,000 poorly could mean you lose out on over €4,000.

If you would like more information on the potential timing of a trade feel free to contact myself – Steve Eakins – hse@currencies.co.uk