Category Archives: Buy Euros

Pound continues to fall against the Euro as predicted (Tom Holian)

Pound Euro exchange rates have continued to fall during today’s trading session and this has been the case for almost two weeks now.

There doesn’t appear to be a lot of confidence in Sterling at the moment and the Euro is going from strength to strength.

Not only is the Euro strong vs the Pound but it is also strong vs the US Dollar.

Typically when the Dollar weakens this results in Euro strength and this appears to be the case at the moment.

There is a lot of economic data due out for Europe tomorrow with German GDP data for the first quarter as well as manufacturing data.

As Germany is the leading economy in Europe if the economic data is strong in the morning expect GBPEUR exchange rates to fall.

Turning the focus to the UK, inflation has been one of the main culprits for Sterling’s recent demise vs the Euro. The Inflation Report Hearings are due out at 11am and if they highlight the ongoing problem then I expect to see the Pound fall even further against the single currency.

With just over a fortnight to go before the UK’s general election then we could see further volatility ahead so if you want to avoid the risk of the market moving against you then it may be worth looking at buying a forward contract which allows you to secure an exchange rate for a future date.

If you would like further information or a free quote when buying or selling Euros compared to using your own bank then contact me directly and I look forward to hearing from you.

Having worked for one of the UK’s leading currency brokers since 2003 I am confident of being able to offer you bank beating exchange rates as well as helping you with the timing of your trade.

Tom Holian teh@currencies.co.uk

 

Could the Pound fall further against the Euro? (Tom Holian)

Pound Euro exchange rates have had a difficult last fortnight with a loss of over 3 cents. The problem that the British economy appears to be facing at the moment is that of rising inflation.

This was confirmed in both the Quarterly Inflation Report as well as the Consumer Price Index which came out earlier this week.

Rising inflation is a problem for the UK and part of this has been caused by the strength of the US Dollar. As we import so much from overseas and GBPUSD exchange rates have fallen by approximately 15% since last year when the Brexit vote was held the cost of living is rising.

Indeed, unemployment which came out at its best level in 45 years should have in theory strengthened Sterling vs the single currency but as Average Earnings came out lower than the current rate of inflation this means that although more people are in work their spending power has been reduced.

Increasing inflation would usually be tackled by the Bank of England with an interest rate hike but the central bank has a problem in that Quantitative Easing seems to be the monetary policy used in recent years. The Bank of England voted earlier this month to keep rates on hold with only one member voting for an interest rate hike.

Therefore, I think we will see the Pound struggle against the Euro until the issue of inflation is tackled or it comes down by itself.

With less than 3 weeks to go another question that I am frequently being asked is what will happen to the value of the Pound once the general election takes place.

Usually we would see the Pound strengthen if the existing government maintains the status quo but I think this time round as it is so obvious that the Tories will win I think this has already been priced in to GBEUR exchange rates.

If you would like further information or for a free quote when buying or selling Euros then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

 

Economic data to set the tone for Pound vs Euro exchange rates this week (Tom Holian)

The Pound has continued to drift down vs the Euro during today’s trading session as the markets are still digesting the news from the back end of last week.

However, the market has remained relatively quiet today in anticipation of another big day in terms of economic data tomorrow and Wednesday.

Although we saw the news from the latest Quarterly Inflation Report on Thursday all eyes will be on tomorrow morning’s Consumer Price Index due at 930am. The expectation is for 2.6% which is higher than the Bank of England’s target of 2% so anything different could cause some volatility for GBPEUR exchange rates.

Closely following the UK’s inflation data the Eurozone will release GDP data for the first quarter of 2017. The expectation is for growth of 1.7% year on year and with the German economy performing well in recent weeks I would not be surprised to see a positive announcement for the Eurozone and if this takes place we could see the Pound lose ground vs the Euro during tomorrow’s trading session.

On Wednesday UK unemployment data is due and although unemployment figures have been getting lower here in the UK the real problem is that of Average Earnings which have started to slow recently.

In layman’s terms this means that although there are more people in work their spending power is reduced and generally speaking this tends to weaken the currency involved.

Therefore, I think over the next two days Sterling will face a difficult period vs the Euro.

If you would like further information or for a free quote when buying or selling Euros compared to using your own bank then contact me directly and I look forward to hearing from you.

Working for one of the UK’s leading currency brokers since 2003 I am confident of being able to offer you bank beating exchange rates as well as being able to offer you different types of contracts including forward contracts which allows you to fix an exchange rate for a future date.

Email me below.

Tom Holian teh@currencies.co.uk

 

Has Sterling’s rally vs the Euro come to an end? (Tom Holian)

The UK published a number of lower than expected economic data releases on Thursday which caused the Pound to hit a one week low vs the Euro.

The Pound has had a very good run in recent weeks but the combination of poor Industrial & Manufacturing data caused the Pound to fall vs the single currency.

The UK’s Trade Deficit figures came out at £13.4bn and this is not a good thing for the British economy and in particular the Pound vs the Euro.

Whilst the Bank of England kept interest rates on hold the governor of the central bank Mark Carney cut the UK’s growth forecast from 2% to 1.9% and this led to investor confidence waning in the UK and as such the Pound fell against the Euro.

Inflation has been predicted to rise to 2.8% whilst average earnings are predicted to fall to just 2% which effectively means that the cost of living is going up whilst wages are falling.

German economic data out this morning showed an improvement in GDP compared to the first quarter from 0.4% to 0.6% and this helped the Euro to end the week on a high vs the Pound which has provided some good opportunities to sell Euros to buy Sterling compared to recent times.

We ended this week with US Retail Sales falling in April and typically when we see Dollar weakness this results in Euro strength which has been evident this afternoon.

As we go into next week the focus is likely to return to the UK’s political landscape and with the Tories looking like they will win without any significant challenge could this provide the Pound with a recovery against the Euro?

Having worked for one of the UK’s leading currency brokers since 2003 I am confident of being able to offer you bank beating exchange rtes compared to using your own bank .

Therefore, if you would like further information or a free quote when buying or selling currency then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

Pound to Euro rate hits one-week low as Bank of England lowers growth forecast (Joseph Wright)

The Pound to Euro exchange rate has dropped to its lowest level in a week yesterday as data from the disappointed.

The Bank of England (BoE) slashed its growth forecast as yesterday’s quarterly inflation report confirmed that inflation levels within the UK will soon outstrip earnings growth. Sterling has dropped below 1.1850 this morning as the softening of the Pound continues although the currency is still towards the top of the current trading range.

Those considering a Sterling transfer should bear in mind that earlier this week analysts at Lloyds bank downgraded their GBP/EUR price target from 1.18 to 1.16 at the end of 2017. This level is below the Pounds current mid-market value, so it seems that some professionals expect the pound to fall as the year goes on.

I also think that if it surfaces that Brexit negotiations have begun badly, we could see a sell-off for the Pound as the setting up of new trade agreements is likely to be the governments priority as the UK enters a time of uncertainty. Now that economic data is playing a more prominent role in the value of the Pound it’s certainly worth paying a close eye on data releases as they’re impacting Sterling rates to a greater extent than last year when politics played a greater role.

If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.

How will the UK General Election effect GBP/EUR? (Daniel Johnson)

Will the Election cause Sterling weakness?

Theresa May announced a snap election to take place on 8th June. Historically a snap election would cause the currency in question to weaken, however on his occasion we saw the opposite occur. Following the announcement Sterling strengthened over the Euro. It is important to remember the market moves on rumour as well as fact. It was a shrewd move by May to announce the election while the opposition is so weak. Due to the conservatives clear lead in the polls, I am of the opinion a conservative victory is already factored into current rates of exchange. I would expect little movement on GBP/EUR if the conservatives win. It is when the unexpected occurs you can expect significant movement on the exchange.

We can use the recent French election as an example. After the first round of voting, the field was broken down to two candidates. Macron and Le Pen. Macron was so dominant after the first round the Euro strengthened due to Macron’s pro EU stance. However, when his victory was confirmed we saw little movement on GBP/EUR.

Super Thursday

Thursday brings the UK interest rate decision. I would be very surprised to see any change. It will be interesting however to look at how the monetary Policy Committee (MPC) votes. The nine members vote on whether there should be any change in interest rates, if a member’s vote changes from last month’s we could see movement on the market as this is an indication a change in monetary policy could be on the cards.

We also have manufacturing data which is expected to show a slight decline, any variation from the prediction could result in volatility.

If you have a currency requirement I will be happy to assist. I will provide an individual trading strategy with no obligation to trade. If you already have a currency provider let me know what you are being offered and I am confident in showing you a considerable saving. Feel free to contact me at dcj@currencies.co.uk. Thank you for reading.

 

 

Macron wins but Euro remains flat against the Pound (Tom Holian)

Emmanuel Macron has been confirmed as the new President of France with a convincing win over the more controversial candidate Marine Le Pen.

What make this interesting in terms of the currency markets is that this has done little to move the Euro vs the Pound and if anything we have seen GBPEUR exchange rates make gains since the start of the week.

Tomorrow morning there is a host of economic data due out from Germany in the form of Industrial Production data as well as Trade Balance. As Germany is the leading economy in the Eurozone any data can affect GBPEUR exchange rates.

The focus is now likely to return to what is happening politically in the UK and with the general election due to take place a month from today I think we could see the Pound make some gains in the weeks ahead as it appears as though the Tories will win with a clear majority at the moment.

If this happens this could provide the UK with more stability which means Theresa May will be able to start progressing the Brexit negotiations.

Therefore, if you’re in the process of looking to sell Euros during this month it may be worth looking at a forward contract which allows you to fix an exchange rate with a small deposit for a future date.

Having worked in the foreign exchange industry since 2003 for one of the UK’s leading currency brokers I am confident not only of being able to offer you bank beating exchange rates but also help you with the timing of your transfer. 

If you have a currency transfer to make involving buying Euros or selling Euros and would like further information or a free quote then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

Will the Pound improve after the French election? (Tom Holian)

We are now just a short time away from the French election which will be key in the short term movement for GBPEUR exchange rates.

At the moment it looks more than likely that Macron will win on Sunday with a clear majority vs Marine Le Pen but for me if the vote is closer than most expect then I think we’ll see some problems ahead for the single currency.

Le Pen is one of the most controversial candidates in France for years as she has campaigned for both a French referendum on the European Union as well as leaving the Euro in favour of the French Franc.

With the UK election campaign now in full swing I think as the Tories have done so well with the local elections I don’t see any real challenge from any other party and this is likely to provide Theresa May with a clear path to victory.

Over the month I think we could see the Pound improving against the Euro challenging 1.20 on the Interbank level.

However, once the general election is concluded the focus will then return to the Brexit negotiations and Theresa May has already said she’ll make things difficult and therefore I think we’ll see the Pound start to fall once the talks commence.

Having worked in the foreign exchange industry since 2003 for one of the UK’s leading currency brokers I am confident of being able to offer you both bank beating exchange rates and also help you with various contract types typically not available from your own bank.

For further information or for a free quote when buying or selling Euros then feel free to contact med directly and I look forward to hearing form you.

Tom Holian teh@currencies.co.uk

 

Could Tough Brexit Negotiations Halt Sterling’s Rise? (Matthew Vassallo)

The Pound has enjoyed a positive run against the EUR of late but has found resistance around the current levels over recent days.

With the pair now trading around 1.18, having hit a high of over 1.19 over the past couple of weeks, it indicates that the EUR is finding a lot of support under 1.20.

As regular readers will know this is a key resistance level on the pair and I certainly feel we need to see another shift in market sentiment, in order for the Pound to break through this.

Whilst the EUR has come under pressure ahead of the French elections, with the markets fearing a far right Le Pen victory, this scenario looks to becoming less and less likely. Whilst I’m wary about reading too much into poll numbers following last year’s surprising Brexit result and Trump’s victory in the US elections, I do feel that a Macron win on Sunday will help to solidify the single currencies positon.

The Pound found support following the announcement of a UK general election in June and the likely result of a Conservative victory, bringing an element of stability to the markets due to the continuity it will bring over the coming years. However, this positive spike seems to have cooled somewhat and based on some worrying reports this week, in regards to the UK’s Brexit negotiations and how tough they are likely to be, are you prepared to risk losing the gains made for Sterling over the past month?

My overall feeling has been that clients holding the Pound should be looking for short-term market opportunities, rather than hold out for long-term sustainable gains whilst so much uncertainty around the UK economy remains.

UK Prime Minister Theresa May has come out fighting this week, in response to reports that the UK has little understanding of how the EU works if it thinks it will be getting a good deal in regards to our Brexit. Whilst political jostling could account for a portion of this, I do feel we are in for a rocky road over the coming months. As such I would be looking to protect any GBP/EUR requirement, rather than gamble on an extremely uncertain market.

If you have an upcoming GBP or EUR 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 on 0044 1494 787 478 and ask one of the team for Matt.

Alternatively, I can be emailed directly on mtv@currencies.co.uk.

Will the Pound continue to go up against the Euro? (Tom Holian)

The Pound has made gains during April and I expect the Pound to continue to rise in the next few days against the Euro as the second round of French elections are due to take place on 7th May.

The two candidates include the controversial character Marine Le Pen who has pledged to remove France from the European Union as well as bring back the French Franc.

With the risk to the stability of France and its relationship with the European Union if Le Pen gets in this could send GBPEUR exchange rates flying in an upwards direction quickly. However, the outcome if more likely that Emmanuel Macron will win and this could cause the Euro to strengthen vs the Pound.

With the voting due to take place next week this is the reason why I expect the Pound to continue to make gains vs the single currency and we could even see GBPEUR rates hit 1.20 by this time next week if the voting gets close.

Following the French election the focus will then return back to what is happening politically in the UK with the election due to take place on June 8th. At the moment it looks likely that Theresa May will win convincingly and this is why the Pound has had a good run since the announcement of a snap election. However, as we saw last year with the Brexit vote and Trump winning it is not a certainty so we could see a volatile period for the Pound in the weeks ahead.

If you would like a free quote when buying or selling Euros or simply more information about how I can save you money compared to using your bank or another currency broker then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Is the Pound to Euro rate trading at the top of its current trend? (Joseph Wright)

Many of our clients planning a GBP to EUR currency exchange have been waiting for some time for the GBP/EUR rate to exceed 1.20.

The pair have been locked between a wide trading range of 1.10 to 1.20 pretty much since the initial shock of the Brexit vote last June, and on a number of occasions the pair have bounced off of 1.20 as the level appears to be acting as a psychological barrier.

Whilst many are playing the waiting game some have based their trades off of mid-market levels in the high teens such as 1.19 – 1.1950 and so far this appears to be the smartest move.

Interestingly analysts at Lloyds bank have recently stated that they believe the Pound is trading at fair value against the Euro at its current levels, and that they aren’t expecting to see the Pound climb much higher.

Personally I think we will see the Pound to Euro rate test 1.20 once again but I think there will need to be a large weakening of the Euro specifically if we are to see the GBP/EUR pair exceed 1.20.

Later today UK GDP data will be released with 0.4% on a quarterly basis the expectation, so expect any deviations from this level to result in GBP/EUR volatility, and feel free to get in touch if you wish to be kept updated regarding this figure.

 If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well worth your time getting in contact with me on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

GBP/EUR sees further losses today, this time from events in the US (Joshua Privett)

Pound to Euro exchange rates have come under further pressure in the afternoon trading session today, with rates coming back down to the early 1.17’s on GBP/EUR, after a brief recovery in the morning was quashed.

Monday was where the most extreme losses on GBP/EUR could be found, with the result of the first round of the French election driving exchange rates down into the high 1.17’s after rates had touched on 6 month highs in the 1.19’s earlier last week.

The reason for the euphoria and confidence in the Euro? It seems extremely unlikely that Marine Le Pen will be the next French President. As with the Brexit when it seemed unlikely the UK would be leaving the EU the Pound was gaining in value with greater market confidence. Now that Marine Le Pen, the anti-EU candidate seems further and further away from the seat of power, we have seen similar Euro strength in this fashion.

The movement today however further in the favour of Euro sellers is largely artificial. Very poor consumer confidence figures in the US meant that due to the special relationship between the US Dollar and the Euro, the Euro gained value. Effectively investors flocked away from the US Dollar, and the Euro is the largest net to catch them in.

However, precisely because the movement is artificial, and given that GBP/EUR had been moving in a positive direction earlier that day, it’s more likely than not that a currency improvement will be seen tomorrow. Euro sellers should be considering moving sooner rather than later given the recent improvements in your favour.

If you are planning to make a currency exchange involving the Pound and the Euro, it’s well worth your time getting in contact with me on  jjp@currencies.co.uk  in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

I have never had an issue beating the rates of exchange on offer elsewhere, so a brief conversation could save you thousands on a prospective transfer.

French election news strengthens the Euro vs the Pound (Tom Holian)

Sterling vs Euro exchange rates have fallen from their recent high reached five months ago after the UK announced a snap general election last week.

This gave the Pound a much needed boost vs the Euro but the gains have been short lived as the French elections announced their first round of results over the weekend.

The French public have voted for two candidates who will now go head to head in the next round which is due to take place on May 7th. The likelihood is that Emmanuel Macron will defeat the more controversial National Front leader Marine Le Pen.

This has led to the single currency recovering from its losses from the end of last week and the reason for the improvement in EURGBP exchange rates during today.

On Thursday there are a number of data releases likely to affect GBPEUR exchange rates with Services data from the Eurozone alongside a Business Climate indicator survey.

This will be followed by the latest European Central Bank decision due out and the subsequent statement released by ECB president Mario Draghi.

Having worked in the foreign exchange industryfor one of the UK’s leading currency brokers since 2003 I am confident not only of offering you bank beating exchange rates but also help you with the timing of your trade,

If you have a currency transfer to make and would like to save money on exchange rates compared to using your own bank then contact me directly for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

1.20 Still a Key Resistance Level for GBP/EUR Exchange Rates (Matthew Vassallo)

Sterling has met resistance under 1.20 against the EUR and is struggling to break through this key level for the pair.

Despite this week’s positive move, I am not convinced that the recent trend will allow the Pound to sustainably move above this threshold.

Sterling has gained over two cents following UK Prime Minister Theresa May’s decision to call a snap general election in June. This positive move went against the grain, as historically any political U-turns usually bring with it a level of uncertainty and the currency in question is put under pressure. As regular readers will know any economic & political uncertainty is a currencies biggest downfall and for this reason I would be extremely tempted to take advantage of Sterling’s gains over the past 48 hours.

There are still many unanswered questions and despite many assuming the result of the election is a forgone conclusion, last year’s political outcomes in terms of the Brexit result and President Trump’s victory, should head a warning to us all that the expected outcome does not always come to fruition.

There is no doubt Sterling has gained a foothold and EUR sellers may well have missed the opportune time to sell their positions but the current levels remain attractive, certainly when you consider the history on the pair.

The main talking point over the next few of weeks is likely to centre around the French elections and with the far right Marine Le Penn once again gaining support, having seemingly been out of the race, investors are likely to be extremely wary about what the outcome could be should she get into power. With so much economic and political uncertainty across the Eurozone region are you prepared to gamble on a seismic shift in market conditions, which would be needed to significantly boost the EUR value in my opinion.

My overall opinion is that both buyers and sellers should be looking at short-term market opportunities to secure their transfers, rather than gamble on the long-term outcome whilst so much uncertainty surrounding the UK & Eurozone economies remains.

If you have an upcoming GBP or EUR currency transfer 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 on 0044 1494 787 478 and ask one of the team for Matt.

Alternatively, I can be emailed directly on mtv@currencies.co.uk.

Pound to Euro rates still rising following snap election call (Joshua Privett)

The Pound has surged to a 6 month high against most major currency pairings following a strong show of support for the Pound in response to the snap election call by Theresa May.

Why such a strong showing of support? Many queries I received yesterday were in response to currency market theory. In the past a general rule of thumb around elections is that they tend to weaken the currency in question in the run up to the vote and the results. This is due to heightened uncertainty surrounding the event and the potential implications of the results. Currency investors are normally loathe to make strong bets on potentially surprising outcomes – the ramifications of the Brexit vote being a major example of where this can go wrong for investors.

Instead, this vote is occurring in exceptional times. The Conservatives are effectively looking for a mandate, and to quell calls for a Scottish Referendum, and the polls suggests they have the ability to do this – particularly why the Labour party appears to be in such disarray.

Currency markets are effectively responding well to a more solid British government heading into the Brexit negotiations, as the Eurozone will not see a dark cloud hanging over the British Parliament and use this for negotiation leverage. Furthermore, currency markets have normally favoured pro-business conservative candidates, so a few more years of continuity and unencumbered rule by conservatives should always provide some form of rally…

If you are planning to make a currency exchange involving the Pound and the Euro, it’s well worth your time getting in contact with me on  jjp@currencies.co.uk  in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

I have never had an issue beating the rates of exchange on offer elsewhere, so a brief conversation could save you thousands on a prospective transfer.

Pound Euro exchange rates on the rise (Tom Holian)

Pound vs Euro exchange rates have continued to improve since the formal announcement that Brexit talks can begin and we are now at the best rate to buy Euros with Sterling in over 6 weeks. The French elections are due to start in the next fortnight and at the moment the polls are showing quite mixed reports in Europe.

The controversial character and leader of the National Front Marine Le Pen appears to be looking like one of the favourites to get through the first round of voting which takes place on 23rd April.

However, the likelihood is that Emmanuel Macron will end up winning the final round which takes place on May 7th.

The problem for the single currency is that once the elections begin this is likely to cause a lot of volatility for Sterling vs the Euro and in my opinion I think we could see problems for the Euro and this could even result in GBPEUR rates hitting 1.20.

Therefore, if you need to buy Euros it would be worth your while paying close attention to what will happen once the voting in France takes place.

As we enter the Easter break the markets will be still be moving globally so if you’re based in the UK you may wish to contact me at some point today if you have a currency purchase to make in the next week.

Having worked in the foreign exchange industry since 2003 for one of the UK’s leading currency providers I am confident of being able to offer you better rates of exchange than using your own bank.

If you have a currency transfer to make and would like to save money on exchange rates then contact me directly for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

Sterling hits an 8-day high against the Euro as French Presidency fears hit the single currency (Joseph Wright)

The Pound to Euro rate exceeded 1.1750 yesterday afternoon and the pair have held strong above this level so far, as at the time of writing the pair are still trading above this level at the mid-market level.

What’s also interesting to see is that today’s low so far is 1.1756 which indicates to me that there could be support for the pair at this level.

With Sterling gaining slowly since the official start to the Brexit process it appears that the currency has hit its lowest level and it’s now on the recovery, which many within financial markets suggesting that the Brexit has been priced into the Pounds value.

What may help the Pound make additional gains against the Euro later this month is the French Presidential election. There have been fears and hedged bets against the Euro as there’s a chance far-right candidate Marine Le Pen could perform better than many are expecting. This would likely result in Euro weakness due to her plans for a Frexit, but over the past week the increasing popularity of far-left candidate Jean-Luc Melenchon has also weighed on the Euros value due to his views on tax tariffs.

Now that Brexit is underway economic data is playing a more prominent role in the currency fluctuations involving the Pound, so if you’re planning on making a currency exchange involving the pound and another currency do feel free to get in touch regarding these events.

If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well worth your time getting in contact with me on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

 

Pound falls against the Euro owing to poor economic data (Tom Holian)

The Pound has ended the week falling against the Euro after the UK posted worse than expected economic data.

UK Industrial & Manufacturing data both fell in March and this led to the Pound falling from close to a 1 month high earlier in the week vs the Euro to 1.1.6 during today’s trading session.

After the triggering of Article 50 last week the focus has now turned back to the economic data both here and the Eurozone and owing to the lacklustre data the Pound fell vs the single currency.

We also saw the release of the latest three month’s worth of UK GDP data published by the NIESR.

The figure was 0.5% for the quarter which although is still relatively strong it didn’t give the markets the boost they were perhaps looking for.

Moving the focus towards next week UK inflation data will come out on Tuesday morning.

Inflation has been rising recently in the UK and the previous month’s MPC meeting minutes showed that one of the 9 members actually voted for an interest rate hike.

Therefore, if inflation shows another increase on Tuesday it could provide support to last month’s vote and we could see a slow shift in favour of raising interest rates in the UK sooner than some have predicted.

Therefore, if you’re considering making a currency purchase between Sterling and Euro then Tuesday could cause some big movements depending on the data release.

If you would like a free quote when buying or selling Euros compared to using your own bank then contact me directly for a free quote and I look forward to hearing from you.

Having worked in the foreign exchange industry for one of the UK’s leading currency brokers since 2003 I am confident of being able to offer you bank beating exchange rates.

Email me with details of your enquiry.

Tom Holian teh@currencies.co.uk 

GBP/EUR breaks 1.17 as services sector remains strong, will the pair hit 1.20? (Joseph Wright)

The UK economy was given a boost yesterday as data showed that its most important sector is performing well.

Economists had anticipated growth in the UK’s services sector but the figure came out higher than they had expected, and the reason Sterling saw a boost of the back of this data release is because the services sector accounts for around 75% of the UK’s economy.

For this reason data releases reflecting the health of this area of the economy can result is swings within GBP exchange rates. Due to the UK entering what could be considered a sensitive time as Brexit is now underway I expect to see these figures followed closely and I think we may see dips within the Pounds value should these figures disappoint.

Another news release which could be watched closely is Gross Domestic Product figures as these will also reflect the health of the UK economy. The next release comes out tomorrow at 1pm and the expectation is for a figure of 0.6% so expect any major deviations from this figure to result in swings within GBP/EUR exchange rates.

If you would like to be kept updated regarding major movements between the Pound and the Euro do feel free to register your details with me.

If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well worth your time getting in contact with me on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

Could the Pound hit 1.20 this month? (Tom Holian)

With the trigger of Article 50 now one week behind us the focus is now returning back to the economic data in both the UK and the Eurozone.

The Pound has seen some small gains since last week touching 1.17 on the Interbank level during today’s trading session and the Pound has been creeping up against a lot of other currencies during the course of this week.

We are now less than 3 weeks away from the French elections which are likely to cause problems for the Euro as the controversial politician Marine Le Pen looks as though she will get through the first round of voting due to take place on 23rd April.

However, although she is very likely to get through the first round the likelihood is that she will be defeated when the second and final round takes place on 7th May.

However, as we have already seen with the Brexit vote and the Trump win during 2016 there appears to be a voice for change so anything is possible when it comes to politics.

If we see a surprise win for Le Pen this could send GBPEUR rates in an upward direction very quickly but personally I would be amazed to see her win the elections next month.

In the short term the UK releases the latest set of GDP figures for the last three months when the NIESR confirms the data on Friday. I think this could be rather positive for the UK as Retail Sales released recently showed a big jump and as Retail Sales are a big part of the British economy I think this could result in some positive GDP figures.

Therefore, if you’re in the process of buying Euros with Pounds then the end of the week could potentially provide a better opportunity.

If you have a currency transfer to make and would like to save money on exchange rates compared to using your own bank then contact me directly and I look forward to hearing form you.

Tom Holian teh@currencies.co.uk