Monthly Archives: June 2014

Save money when buying Euros (Tom Holian)

When buying Euros it is important that you make sure you use a currency broker compared to using a bank as the exchange rates they can offer you can be as much as 4% better.

This is very important when transferring sums for property purchases on the continent or sending money overseas for large purchases.

The service of a currency broker is aimed primarily at private individuals who are often offered low exchange rates and high fees by their own banks.

If you need to send money to any country in the Eurozone then contact me directly for a free quote Tom Holian teh@currencies.co.uk

 

 

Carney Helps Pound Rebound – UK GDP Revisions Tomorrow

Sterling has rallied back and is placed at 1.25 versus the Euro after Mark Carney gave another speech this morning, giving more info on interest rate projections.  UK GDP revisions are published tomorrow and a strong showing there should reinforce sterling and leave it well placed before next week’s ECB interest rate decision.  I suspect the Euro could come under pressure in the run up to the ECB announcement as markets fear further intervention by Draghi and co, but with it being the holiday season on the continent and having just taken action this month I think they will take a wait and see approach.  However all the speculation over central bank activity is creating some good buying and selling opportunities so if you do need to make a currency transfer, please feel free to email Colm at cmg@currencies.co.uk and I would be happy to help.

Sterling exchange rates flat ahead of speech from Carney (Daniel Wright)

The Pound has started the day of looking fairly flat ahead of both a financial stability report for the U.K and a speech from Mark Carney (Governor of the bank of England) where he is expected to comment on the problem of the house price bubble.

Carney was fairly well known in Canada for taking action on house prices by putting limits in place for mortgages so should he move to do something similar over here then we may see the Pound drop off a little as it could slow the so economy a little which has been absolutely flying this year.

Both the financial stability report and the speech are at 10:30am so this is a good time to keep a very close eye on the market as we may see some volatility.

If you are in this position or if you do need to transfer funds in the coming weeks and months then I will be able to help you.  The company I work for not only has won many awards for our rates of exchange but also for our high level of customer service.

Please do feel free to get in touch with me (Daniel Wright) for a no obligation discussion about your requirements and i will be more than happy to contact you personally. You can email me on djw@currencies.co.uk with a brief description of your requirement and a contact number and I will be more than happy to get in touch.

Quiet day for GBP/EUR ahead of the financial stability report tomorrow (Mike Vaughan)

Sterling fell yesterday morning against the euro following the Bank of England’s inflation report in which the bank was likened to an “unreliable boyfriend” due to the lack of clarity on the possibility of rising interest rates. Earlier this month Mark Carney gave hints that the Bank may raise interest rates sooner than 2015 as most analysts had expected, however yesterda’s speech may have cooled those rumours and shifted GBP/EUR levels back below 1.25 – a possible short term opportunity for Euro sellers?

This speech comes prior to another speech from Carney scheduled for 10:30 tomorrow for the banks Financial Stability report. Published twice a year by under the guidance of the interim Financial Policy Committee, it shows the Committee’s assessment of the outlook for the stability and resilience of the financial sector at the time of preparation of the Report. This report will again give further clues as to monetary policy and again could be a volatile day for the pound.

Looking at todays data and it is a quiet day from both the Euro and Pound’s point of view with focus on US GDP data that could adversely affect risk apetitie across the market, this is released at 13:30. Should you have a currency requirement to arrange and would like further information on the currency service we provide then please email Mike at mgv@currencies.co.uk

 

GBPEUR remains favourable, busy week ahead! Will Mark Carney lower the value of sterling?

Sterling to Euro exchange rates have remained favourable of late presenting a 20 month high to buy euros. This week we have a whole host of data which anyone with an interest buying or selling euros should take note of. Exchange rate movements of 1 or 2 cents in a day are not uncommon and having systems in place to capitalise are key to maximising any currency exchange.

Thursday looks to be a possible market mover with the Bank of England Governor due to speak. Lately there has been much speculation that the BoE will look to cool the housing market. It has been said a bubble is forming in the UK property market and Mark Carney could pop it and the value of sterling in just a few sentences. You see the housing market is a key driver of Inflation and economic growth as people have more money in the pockets and spend more as their house price rises. The prospect of a UK interest rate hike this side of Christmas has helped sterling to soar lately but could the pound come unstuck later this week? Personally I would brace yourself for a rough ride and wouldn’t rule out the prospect of sterling suffering.

Friday the latest GDP (Gross Domestic Product) data is released which will is essentially old news for it covers Q1 but will still attract interest. Sterling won’t necessarily drop on Thursday but anyone buying or selling the pound should in my opinion take note of this potentially very important event. Mark Carney always seems to move the market one way or another, don’t say we didn’t warn you.

Should you wish to get some information on the latest forecast and moving money internationally at the best exchange rates please contact me directly on jmw@currencies.co.uk

Sterling Euro close to a 2 year high (Tom Holian)

Sterling Euro exchange rates have been trading above 1.25 for most of this week following on some very strong comments from Bank of England governor Mark Carney last week.

The International Monetary Fund has also said that the Eurozone recovery is not strong enough. With inflation remaining low and the Eurozone having cut interest rates earlier this month this has weakened the single currency against Sterling providing some excellent buying opportunities for those needing to buy Euros.

The recovery in Europe is likely to be slow and painful and this is what is keeping the Euro weak at the moment. The most recent figure for Eurozone inflation was at 0.5% which if it falls again this is likely to have a negative impact on growth.

Eurozone consumer confidence came in at -7.4 compared to the forecast of -6.4 so this has also weakened the Euro against Sterling.

If you would like to take advantage of these current highs on exchange rates compared  to using your bank then contact me directly for a free quote Tom Holian teh@currencies.co.uk 

 

 

 

Sterling Poised To Make Further Gains As Euro Struggles (Colm Gilhooly)

Sterling is sitting just over 1.25 on the Euro again and I suspect we aren’t too far away from another push on as we come closer to the next ECB interest rate decision.  The pound has gone up nicely due to an increased expectation that the Bank of England are closer to raising interest rates than previously thought, following a speech from Mark Carney and the recent MPC Minutes (although all 9 members did vote to hold interest rates this month so do expect anything imminently!)

The Euro on the other hand has taken a bashing due to the recent ECB interest rate cut, and negative deposit rate for banks to hold funds.  Mario Draghi also left the door open for more action in future if the situation doesn’t improve which is weighing on the Euros prospects.

UK data recently has been very good with regards to unemployment and growth forecasts, and whilst retail figures the other day were slightly below forecast they were still pretty robust.  In all I think the UK is on the right track and with the interest rate differential between the pound and the euro looking to widen further, I think we are likely to see further sterling strength/euro weakness as the year runs on.  With this in mind I think markets will get a bit nervous before the next few press conferences form Mario Draghi about the prospect of further moves in Europe, and if I were holding Euro from a property sale, I would be tempted to move on a spike fairly soon rather than risk another battering in the months ahead.

If you would like to make a currency transfer, please feel free to email Colm at cmg@currencies.co.uk and I would be happy to help.

UK retails sales the focus today (Mike Vaughan)

Today’s focus will be on UK retails sales figures released at 09:30, they are expected to show a decline but based on May’s strong figures another good showing and the pound could have a better end to the week.

Looking at data from the Euro Zone and look out for current account figures tomorrow morning and consumer confidence data tomorrow afternoon. For me, although data may improve in the Euro Zone, the data from the UK has been particularly strong and is dominating this pair. Also the prospect of rising interest rates with the ECB cutting interest rates is likely to keep pressure on the Euro and I would look for better value for Euro buyers in the week.

Should you wish to discuss the currency service we offer then please contact the office on 01494 787478 or email Mike at mgv@currencies.co.uk

GBPEUR is 1.2521, can you afford to ignore it?

We are now clearly at some of the best exchange rates to buy Euros in 18 months. This opportunity should I believe be passed up lightly as there is a fairly good chance it will drop back down again. Ultimately no one can tell exactly what will happen on the markets and it is for that reason that if you believe rates are currently attractive, it is worth securing them now. You never quite know what will happen on exchange rates but utilising the service of the team at GBPEURO forecast ensures you have an advantage when making those transfers.

Tomorrow is a very important release for the UK and the pound with the latest Bank of England minutes, at the moment the GBPEUR rate is 1.2521, this should not be readily dismissed in the hope of much higher levels down the line.

If you need to make a currency exchange I would be very interested to hear from you and explain the current exchange rate forecast for your transfer. Please contact me on jmw@currencies.co.uk with an outline of your situation.

How will Mark Carney’s speech tonight move the market?

There is a speech tonight by the Mark Carney which may affect overnight moves on the currency pairing depending on what he talks about. There is perhaps scope for movement if he refers to the housing market and gives any indication on interest rate hikes.If you need to move funds internationally we can help with a much better exchange rate than the bank and make sure all the payments are made promptly and securely. We undercut the banks and other sources of currency so it really is worth speaking to us to get the best deals on moving money internationally.

GBPEUR rates have been very favourable this week as widely expected. The Euro suffered last week and until we start to see some improvements in the economic data the Euro should remain on the weaker side as there still remains a possibility of QE down the line. Sterling strength yesterday as a result of the improved Unemployment rate should keep sterling supported for the time being, it will be interesting to see  the PSNB (Public Sector Net Borrowing) data tomorrow affects the pair.

For more information at no cost or obligation please contact me Jonathan on jmw@currencies.co.uk

Buying Euro 1.24 As Sterling Keeps Riding The Unemployment Figures (Colm Gilhooly)

Sterling is still riding high following the 5 year low on unemployment published yesterday showing the jobless rate had dropped to 6.6%.  The Euro has been under fire due to the ECB interest rate cut and I see little reason for the currency to strengthen back any time soon as the interest rate difference is only likely to get wider over time as the UK recovers.  Mario Draghi has even suggested they will take further action if required.

Mark Carney the Governor of the Bank of England speaks tonight and may give some clues about future monetary policy in the UK so if there is any hint of an earlier interest rate rise the pound could go even higher, but if he damps things down then expect the rate to fall temporarily.  If you are selling property in Europe I really think the Euro is in for a rough time as the year goes on so would recommend getting out of the single currency sooner rather than later.  If you would like help with a currency transfer and to get the best exchange rate then email Colm at cmg@currencies.co.uk and I would be happy to explain how our services work and the benefits to you.

GBPEUR Rates on a high – 18 month high

Euro rates continue to take a battering as the single currency becomes cheaper to buy with the Pound. Rates now sit near an 18 month high, even higher than last week when the Europeans cut their interest rates.  This is down to the UK Economic data which continues to show improvements and now potentially will bring forward interest rate changes in the UK to later this year.  This I think is unlikely however meaning rates currently provide traders with a great opportunity to buy if they have a need over the next 2 months.

Euro sellers however will have an upside down smile however as there seems very little to rest hopes on of a change in this trend.  Rates will never move in a straight line however so there will be little chances to get some light relief but I think seeing levels back under 1.20 through the remainder of the year seems highly unlikely.

Next on the horizon is data from the Europeans and the UK next week which have the potential to change rates by upwards of 1.5 cents. Again timing a trade will remain integral to getting the best price. Here our service is aimed about being the most pro-active and honest to our clients. Helping them make an educated decision on when to complete their exchange and therefore achieving more from the market.  PLUS with access to award winning exchange rates you can be sure you will see a saving compared to your current provider, bank or broker. Simply put if that was not the case we would not be in business.

Contact the author STEVE EAKINS via email at hse@currencies.co.uk for more information, live forecasts, and live prices.

Sterling hits 1.24 as predicted (Tom Holian)

If you’ve been following my recent posts you’ll see that I’ve predicted hitting levels of 1.24 for Sterling vs Euro following the release of some strong manufacturing and industrial production data out this morning.

Industrial output grew by 3% in April from a year before according to the ONS which was the fastest yearly rates since January 2011.

The interest rate cut from last week in the Eurozone helped to push Sterling in an upwards direction and with UK unemployment data due out in the morning we could see the Pound break past today’s 18 month highs.

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

GBP/EUR rates push on towards 1.24 (Mike Vaughan)

Sterling has pushed back towards the 1.24 mark and with tomorrows industrial production figures expected to have a healthy showing tomorrow this could be the push the pound needs to break through a new 18 month high. This is a trend that could also continue on Wednesday following the UK’s latest unemployment data, however I would look for the Euro to have a stronger end to the week with the ECB monthly report on Thursday and employment figures on Friday.

To get more information on the currency service we provide then please contact the office on 01494 787478 or email mgv@currencies.co.uk

 

 

Sterling still trading around 1.23 (Tom Holian)

Sterling Euro exchange rates have remained at the 1.23 levels during the course of the week and briefly picked up following the ECB’s press conference which saw levels hit their highest since January 2013.

The rate cut was expected as predicted in my previous posts and therefore we didn’t see as much movement as some may have though we would.

On Monday EU Q1 GDP data is released and with the recent negativity surrounding the Eurozone I think the news is likely to be bad therefore sending GBPEUR rates slightly higher.

On Tuesday is where things are likely to get interesting. UK Industrial production is due as well as manufacturing data and with the British economy faring extremely well over the last few months I would be surprised to see the data anything but positive.

If you have a currency transfer to make and want a free quote when buying Euros then contact me directly Tom Holian teh@currencies.co.uk 

 

 

Eurozone Interest Rate Cut as Predicted (Tom Holian)

The ECB cut interest rates to 0.15% as predicted in my previous posts and we have seen a large amount of Euro weakness following the decision.

The next couple of hours will be interesting to watch as the ECB hold their press conference at 130pm.

To be kept updated with how Sterling Euro exchange rates will be affected over the next two days then contact me directly Tom Holian teh@currencies.co.uk 

Euro Forecast Today (Tom Holian)

With the ECB due to meet at 1245pm today all eyes will be focused on the outcome of the interest rate decision and how far will Mario Draghi go?

Sterling Euro exchange rates have recently hit their highest levels since January 2013 and have remained close to these highs for the last 2 weeks. It seems that any recent data announcements have not had much of an effect as the currency markets are eagerly waiting to see what will happen with Sterling Euro exchange rates once the ECB announces its new plans.

Personally, I think we’ll see a change to the interest rates as the Eurozone is struggling with very low inflation of just 0.5% recently with 2% the target. The problem is that if inflation falls this directly impacts on growth and that is what keeps an economy strong.

Therefore, I think the ECB has no choice but to cut the interest rate from its current level of 0.25%.

Eurozone Retail Sales are due at 10am this morning and even if the figures are dramatically different to the expectation I think the markets will wait to see what happens with the ECB.

If you are concerned about what may happen to Sterling Euro exchange rates and would like a free quote to buy currency and save money compared to using your bank then contact me directly Tom Holian teh@currencies.co.uk 

 

Market Focus On ECB Decision Tomorrow- Volatility On Euro Exchange Rates Expected (Colm Gilhooly)

Anybody with an interest in GBP EUR rates will be glued to tomorrow’s ECB rate decision and press conference.  There has been growing speculation that the ECB will be forced into some form of intervention (such as another interest rate cut or an unusual bond buying program) to try and stimulate inflation which has been getting worryingly low.  The last official figures on Tuesday showed it sat at 0.5%, which is well below the 2% comfort level, and something that Mario Draghi has pointed out as a potential concern over the last few months.

Any action will likely see the Euro decrease in value, which is partly why it has weakened lately as the markets price in a possibility of this.  However if his press conference reassures markets, or there is no action taken by the ECB in a wait and see mode, then we could actually see the Euro strengthen, even if only temporarily.  We saw big swings in value this time last month on the back of the same announcement so if you are looking at making a transfer feel free to get in touch by emailing cmg@currencies.co.uk.  Rates are nearing 1.23 again so you may want to move quickly!

GBPEUR buying euros – how important is the next 36 hours?

GBPEUR rates are open to significant movement over the next 36 hours.  Later today European GDP figures are released and expected to show only 0.2% however anything lower will have a large impact on the value of the single currency. Tomorrow is probably the biggest day and is when the European central bank is expected to release new policy trying to lower borrowing costs and push up inflation.  If confirmed this could have a damming impact on the value of the euro and its forecast for the future.  Generally euro sellers are not happy at the moment as the euro is expected to be worth a lot less at the end for the week compared to these levels currently available which are themselves not attractive compared to levels over the last year!

GBPEUR buyers however are on the other side of the coin expected to see gains in the near future.  Traders looking for the highest level should however be very reactive and pro-actively watching the central prices. Here we provide this service for our existing client base so if you are looking for the best price feel free to contact us to confirm your interest,.

Contact the author – STEVE EAKINS – via his email address hse@currencies.co.uk

Rate alerts, Spike notification, Forward Contract and Limit orders are all available tools to help maximise your trade on any volume over £10,000.

Why is GBPEUR more likely to fall than rise?

Quite simply GBPEUR is up at the best rates in a good few months, almost a year and a half. Can we expect this to continue? That would probably be a very big ask if you ask me. The pound needs to really get a better run of economic data to outperform the Euro.

The expectation is currently the ECB will cut their base interest rate and also look at some form of liquidity measure for the bank. LTRO (Long Term Refinancing Operation) is a mechanism that essentially lends money to banks at a favourable rate and term to allow them  maneuverability in conducting their activities. It is not quite Quantitative Easing but is not so far away.

Usually you would expect this to trigger significant weakness but as the event has already been priced into the value of the currency this is unlikely. Assuming the ECB actually goes ahead with these measures we should expect little movement on the rates. What would be more interesting is if they talk of future activity in the Press Conference which could serve to weaken the Euro. If they don’t follow through with any action the Euro may strengthen but it could also weaken as investors lose confidence in Mario Draghi and his approach to this situation.

Please contact me on jmw@currencies.co.uk for more information