Monthly Archives: April 2014

Sterling spikes in early morning trade (Ben Amrany)

Sterling exchange rates spiked this morning to within half a cent of the highest rates we have seen this year representing some very attractive buying Euro rates. In the past every time the rate had increased to within these levels it has weakened over the coming days or weeks by approximately 2 cents. The surge for the pound against the Euro was due to the lower than expected inflation figures which came out of Germany yesterday. Couple this with the lower than expected retail figures from the same economy now seems like a good time to capitalise on the current trading levels.

In the UK we released our GDP growth figures yesterday and these missed the expected levels and I feel this may be what causes the pound to weaken back to lower levels over the coming days. Plus for the whole of the Eurozone their inflation figures were not as bad as what the markets believed would come which may also weaken GBP/EUR in the future.

There are challenges to sterling’s strength down the line notably the unknown effect of the Scottish referendum and queries of a housing market bubble which could affect mortgage lending going forward. However on the whole the pound should remain well supported. Tomorrow is a new month and with a raft of UK economic data out from the manufacturing sector it would be a shame to miss the current spike.

If you feel that you require a currency transfer in the future please do contact me and I can explain the options available to you in either forward buying your currency or securing what you require on Spot.

Thanks for reading

Ben Amrany

bma@currencies.co.uk 

 

GBPEUR rates update

GBPEUR rates of exchange have shot up this morning to a fresh 8 week high, the highest seen since February.  This was in the build-up to the inflation data from the single currency. It was expected to be bad which drove the price up to these fresh levels but as the data missed the expectation rates quickly dropped back down again.  It goes again to show how the FX market moves on rumours as well as facts and how the build-up to an event can give the best price. This 0.5 cent movement can add thousands to a property purchase in France or across Europe or equally on a business expense.

Now eyes are on the end of the month movement which can have an impact. This will mean that the next 24 hours may be volatile giving quick moving traders benefits.  If you don’t have time or patience to watch the rates feel free to utilise the tools available here. These include SPIKE NOTIFICATIONS, RATE ALERTS, LIMIT ORDERS and LIMIT FORWARD contract.  If you would like any information on any of these services or to have a chat about how the market could affect you feel free to contact me here on hse@currencies.co.uk

For a free quotation also simply email the same address.

All the best,

Steve

GBPEUR Outlook

Despite yesterday’s GDP data for Q1 2014 coming in slightly below par the pound is benefitting from a much improved economic outlook and the prospect of being the first of the big currencies to raise interest rates in recent years.

However on the whole the pound should remain well supported. Despite little data today for the pound, tomorrow is a new month and we have a raft of UK data including Manufacturing Purchasing Manager’s Index (PMI) data.

There are challenges to sterling’s strength down the line notably the unknown effects of the Scottish Referendum and queries of a housing market bubble.

I would not rule out better spikes for the pound but this is by no means reason to be complacent. Depending on which currency pair you are trading there will be other issues to consider. Please feel free to contact me directly to learn of all your options in this current market as well as the best exchange rates, please use jmw@currencies.co.uk.

Pound to Euro rates very favourable for now…

So just what can we expect next week on GBPEUR? I personally think there is a little room left in the rally and would possibly be targeting a 1.22 level if the UK GDP on Tuesday comes out in sterling’s favour. All in all making firm predictions is impossible but you could see the pound find a little favour if the UK GDP figures come in confirming growth in the UK economy.

The euro should not be underestimated at present. Growth appears to returning to some sectors and because of the balance of payments the euro remains favourable too. The euro is very strong against the USD and AUD, a good indicator that clients buying euros should be careful. Any better news or not so good UK news could easily cause rates to slip back below 1.20…

For more information on the forecast and getting the very best exchange rates please speak to me Jonathan on 01494 787 478 or email jmw@currencies.co.uk

GBPEUR rates at 1 month high and close to a THREE month high

GBPEUR rates sit close to a THREE MONTH HIGH as we come to the close of the week and the month.  I personally believe that these levels are towards the highest we will see for the next week but next month there could be a slight uplift. It all rests on the Europeans and whether they introduce a new policy to tackle their struggling inflation data, this is a topic that has been covered for months now. I personally believe the market will give a fresh high before the release in 2 weeks’ time but when nothing changes in Europe, again, rates will drop down.  So in summary, in May I expect rates to reach a fresh high slightly higher than where we stand now but that we will also see GBPEUR levels a lot lower than where they are now when nothing new is released.  Either a small uplift or a big fall for May.

For a full break down on why we are here, what the market expects and the options available to you please feel free to contact us here for an informal chat.

Contact myself if you wish on 0044 (0) 1494 725353 or via email at hse@currencies.co.uk

BoE Minutes Indicate Strong UK Growth (Matthew Vassallo)

GBP/EUR levels dropped during Tuesday’s trading, despite a positive look to the release of the latest Bank of England (BoE) minutes. UK growth forecasts for the first quarter of 2014 were revised up from 0.9% to 1%. There was further good news following a survey from the CBI, which showed improvements in the Manufacturing and Construction sectors, as well industrial production.

Despite these positive reports GBP/EUR rates have fallen back below 1.2150 on the exchange during Tuesday afternoon trading. Personally I do not feel we are likely to see UK interest rates raised until at least the first quarter of 2015 and how much further Sterling can go against its EUR counterpart will be dependent on progress in the Eurozone and the BoE’s desire to see Sterling’s levels controlled.

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

Will GBP/EUR Rates Hit 1.22 This Week? (Matthew Vassallo)

GBP/EUR rates are now putting pressure on 1.22 on the exchange, providing some of the best buying opportunities of the past 6 months. With resistance being met around the current levels it is likely the markets are waiting for the next key economic data release, before making another decisive move. This is likely to be Wednesday and the release of the latest Bank of England (BoE) minutes. These minutes give us a key insight into the BoE’s most recent meeting and will divulge whether any of its members voted for a change in interest rates or monetary injections. Any indication that a rate hike could be on the cards is likely to give the Pound a boost and we could see GBP/EUR rates spike through 1.22.

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 get in touch with me directly at mtv@currencies.co.uk.

The best buying Euro rates for 6 weeks. (Ben Amrany)

As we have come back in from the Bank holiday the pound has spiked to a 6 week high against the Euro and is now only 0.5% off the high of the year which represents some attractive buying Euro rates. It was only two weeks ago that the pound was over 2% lower at 1.1920. Current rate is at 1.2180

The euro has weakened of late as expectations the European Central Bank will try to halt any further strengthening of the currency has kept investors away from the single currency and caused the spike for the pound. This is a fairly quiet week on the UK side with the Bank of England minutes being the main focal point out on Wednesday. If we learn that any members of the Bank of England have voted for an interest rate hike then we could witness some sterling strength.

On the Euro side of things there is a raft of manufacturing data out tomorrow too so Wednesday morning could be the key to the pound trying to break through the high of the year of 1.2240. Following this for GBP/EUR trades the next data release to be cautious of is the retail figures for the UK with some analysts already predicting a drop from Easter last year.

If you require buying or selling the single currency then you may contact myself Ben Amrany at bma@currencies.co.uk with your requirement and I can explain the options available to you. We can help give you the information to help you decide when you should do your exchange while offering you significantly better rates of exchange than the high street bank.

GBP/EUR 1.2150. Attractive rates to buy Euros. (Ben Amrany)

The pound has been holding steady around the 1.2150 level which is representing very attractive buying Euro rates. The pound rose sharply yesterday as official UK unemployment figures dropped to 6.9% the lowest figure in 5 years. The important thing is that this is below the 7% target rate the BoE had initially set out in their forward guidance policies. This milestone has caused the pound to spike and it would not surprise me if we see the Euro claw back some losses next week but in general I would try and see if you can trade when the pound gets to 1.22 near the high of the year.

Due to the Bank holiday there is not a great deal going to be happening over the next few days but you will be wise to check out our sites next week when I am sure there will be more volatility coming back to the markets.

If you feel that you would like assistance with an up and coming currency transfer you have to make we will strive to help you beat the rate of exchange your bank will offer you. Our savings can be up to 4% and I will also offer a very personal service to help you judge when you should buy the currency you require. if I know what your requirement is I can recommend the best options available to you.

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 at 6 week high – probably best price for April

GBPEUR rates have spiked up over a cent compared to the lows at the beginning of the week. This can be attributed to two main reasons; firstly Sterling Strength was seen this morning when Unemployment was shown to have fallen under 7% to the lowest levels for years, secondly with data from the Europeans confirming that inflation has continued to fall.

I personally think these current levels near to a 6 week high will be the highest for the rest of the month, so if you are buying euros this week today may be the best time you get. Profit will be taken later today and when the US market opens eyes will probably remain on Ukraine rather than the GBPEUR situation.

In the short term however timing a trade will remain important to getting the best price. Here we offer a pro-active service helping people achieve just that. So if you are looking at trading the GBPEUR pairing it is always worth getting in contact; at the very least you will have another view on the markets, best results are that you will see a saving compared to your current provider.  The second however is by far the normal result!  Contact myself – STEVE EAKINS – either via my personal email at hse@currencies.co.uk or by calling on the normal number +0044 (0) 1494 787478.

Look forward to hearing from you,

Steve

Euro weakness and GBP strength yet again…

The market is clearly showing signs of returning to more fundamental indicators following some impressive UK data and some not so good Eurozone data. Current rates to buy euros with sterling look very favourable to me and I would seriously suggest a strong consideration of your current position by both buyers and sellers in the market.

We have been trading in a very tight band between 1.20 and 1.22 this year, surely at some point it will be bound to break free. Currently we are witnessing close tot he best rates in over a year to buy the Euro with sterling. Clearly the market will deteriorate at some point, should you have a transfer to consider please let me know by contacting me Jonathan on jmw@currencies.co.uk or calling 01494 787 478.

Euro Inflation Tomorrow And Could Trigger Euro Weakness

Whilst I think tomorrow’s UK unemployment figures will be important, I think it is unlikely they are going to cause any significant sterling movement  as I expect them to come in on forecast.  For me the more important news will be the European inflation data out at 10.00 am as this is likely to be a huge driver for what the ECB may do in the coming weeks.  If inflation comes in on the low side then it could be the catalyst for ECB intervention to prevent the risk of disinflation turning into deflation.  Any move by the ECB to try and combat this could result in Euro weakness- just look at what Quantitative Easing did to the value of the pound over the last few years.  If you are buying or selling Euros then keep a close eye on this tomorrow and be ready to move very quickly as a result.  If you would like help with a currency transfer please feel free to email Colm at cmg@currencies.co.uk and I would be happy to help.

Tomorrow’s UK unemployment data the key for GBP/EUR this week (Mike Vaughan)

Sterling has had a good start to the second quarter of the year having shifted through 1.21 at the tail end of last week, a two cent swing in the pounds favour since the end of March providing some good buy opportunities for those in a position to take advantage.

Looking at the data for the rest of the week and we have some inflation figures this morning at 09:30 followed by Euro Zone trade balance figures at 10:00 however the major release for this pair in my opinion will be Wednesday’s unemployment data.

Levels are expected to fall from 7.2% to 7.1% with some even predicting a bigger fall to 7%. With Mark Carney and the Bank of England indicating levels need to be at 7% and below before they may consider raising the UK’s base interest rate then any shift towards the 7% target is likely to be positive for the pound.

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

Sterling Improves against the Euro (Tom Holian)

Sterling Euro exchange rates hit 1.21+ today following comments made by ECB President Mario Draghi over the weekend that the ECB may consider Quantitative Easing if infltion continues to remain low.

The problem this could have on exchange rates is that it is likely to weaken the Euro if QE takes place as had happened on previous occasions. With GBPEUR rates close to a 2 month high last week it could now be a good time to sell Euros if you’ve been hanging on waiting.

Draghi went on to say that a strong Euro which has risen by 5% against the Dollar in the last 12 months accounted for half a percent fall in inflation and although ‘the exchange rate is not a policy target it is important for price stability.

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

 

Great British Pound versus the Euro

The ECB has forecast improvements in the Inflation outlook but if prices keep falling there is scope for some kind of monetary easing which would likely weaken the Euro. GBPEUR and EURUSD have been fairly flat and range bound in the last few months, this could be a trigger to higher or lower prices depending on the outcome.

Greece was positively in the headlines yesterday as Greek bonds were 8 times oversubscribed by investors. Greek debt was one of the causes of Euro weakness which two years ago saw the Euro plummet. Yesterday’s news marks a turning point and could underline a renewed round of Euro strength depending on some other issues.

This morning’s German CPI Inflation data has shown no changes which has given the Euro a small lift. Spanish CPI just released has fallen slightly. With Inflation fast becoming a major headache for the ECB, this is the key topic. There have been numerous discussions of late about extra measures the ECB will take if the overall figures fall.

To keep an eye on rates movements yourself, you can email me Jonathan on jmw@currencies.co.uk

German CPI Supports Euro But Big Week Next Week

German CPI data came out on forecast earlier today dispelling immediate fears that inflation was fast becoming a problem for the ECB.  There were fears that with recent German data all coming out slightly under forecast, and with Germany being Europe’s largest economy, that the Euro would come under significant pressure today as the expectation would be that whatever figures Germany posts would significantly affect the wider European figures.  These aren’t actually published until next week so there could still be a sting in the tail!

There is a large amount of UK data out next week, including inflation data and unemployment figures.  Whilst the Bank of England didn’t throw up any surprises yesterday, most UK data of late has been reasonably good, so more strong news could help boost the pound.  On the whole I am still inclined to say if you are selling Euros then get out sooner rather than later, whereas if you are exchanging pounds into euro then a bit of patience may help.  If you would like to make a currency exchange and want to get the best exchange rate, and a few tips about how to transfer money efficiently, then feel free to email me Colm at cmg@currencies.co.uk and I would be happy to help.

GBP/EUR back below 1.21. Watch out for German inflation figures tomorrow morning (Mike Vaughan)

Sterling has retraced this afternoon as the Bank of England held its base interest rates steady at 0.5% as most had expected. Looking at tomorrow and watch out for German inflation figures at 07:00. Levels are forecast to fall from 1.2% to 1% and could put pressure on the Euro tomorrow morning. With Germany the backbone of the Euro Zone these figures will be closely monitored as the single currency area is currently facing pressure from deflation.

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

Pound Euro Forecast (Tom Holian)

Sterling Euro exchange rates remained trading around 1.21 during today’s trading session even though the Bank of England interest rate decision showed no change. Personally, I didn’t expect to see any change and the markets felt the same hence the lack of movements today.

This afternoon over in the US initial jobless claims came out which has seen a small positive movement for the US Dollar and a mild bit of negativity for EURUSD exchange rates .

Tomorrow morning sees the release of both German and Spanish inflation data. This will be an extremely important bit of data for Euro exchange rates as inflation has been on the agenda for the ECB and further drops is likely to cause weakness for the Euro.

If you have a currency transfer to make and want to get in touch for a free quote then email me directly Tom Holian teh@currencies.co.uk

Sterling Euro exchange rates remain flat

The Pound has remained fairly flat against the Euro even with the IMF upgrading growth forecasts for the U.K to 2.9% which I thought may have given Sterling a good solid boost but the market remained fairly flat following this information.

Today we have the Bank of England interest rate decision, we do not expect to see anything major come from this however do be aware that this has the potential to throw up the odd surprise so it will be worth keeping a keen eye on the markets at around midday today.

Tomorrow we have German inflation data out in early morning trading so there is plenty still to come to round the week off.

Should you be looking to buy or indeed sell Euros with Sterling in the near future then it may be prudent to get in contact with me directly as I can help you both in terms of getting a great rate of exchange and assistance with the timing – Feel free to contact me (Daniel Wright) directly by email on djw@currencies.co.uk and I will be more than happy to contact you personally.

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

GBP/EUR rates have remained flat during Wednesday morning’s trading, following yesterday’s positive move for Sterling. UK manufacturing data released yesterday morning was better than expected and helped boost the Pound’s levels, moving through 1.21 on the exchange against the EUR. Whilst rates have levelled out this morning it does seem as if GBP may gain some momentum in the short-term, as the Eurozone are still fighting deflation rumours and the possible knock on effects this may have on the region’s economies.

Anyone with a GBP/EUR requirement should be keeping a close eye on tomorrow’s BoE interest rate decision and monetary policy statements. These are seen as key data releases and any deviation from the anticipated results is likely to cause additional volatility for GBP/EUR rates.

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@currnecies.co.uk.