Tag Archives: fx news

Pound to Euro rate drops in wake in Dutch election results, where to next for GBP/EUR? (Joseph Wright)

The Pound has continued to lose value against the Euro throughout the month, and despite making a few fight-backs the currency is now lodged below the 1.15 mark at the mid-market level.

Late last night it was announced that Dutch Prime Minister Mark Rutte won the most seats in the parliamentary election, and defeated far-right hopeful Gert Wilders who was predicted to put in a strong performance. Had Wilders of won more seats or put in a stronger performance I would have expected to see the Euro lose value on fears of his plans to remove the Netherlands from the EU, but the win for the current Prime Minister has eased these fears which has strengthened the Euro further.

The Euro had been boosted recently after the European Central Bank recently confirmed that they will be tapering the current quantitative easing programme due to signs of the economy improving.

Moving forward I think we could see the Euro gain even further as the Brexit begins, particularly if it becomes public that trade negotiations are going badly.

Later today there will be an interest rate decision from the Bank of England, and although no changes are expected it will be interesting to see what governor Mark Carney has to say regarding the UK economy.

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 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.

The Strong Week For GBP Continues, But For How Long?

Sterling bulls and those looking to convert their Sterling into Euro’s have had a great start to the week, with GBPEUR levels hitting as high as 1.2685, a major improvement for sterling sellers when we consider that GBPEUR was trading in the low 1.23’s just last week.

The Pound’s recent gains have been due to improved market sentiment as oil has recovered some of of its losses from earlier in the week, after the most recent OPEC meeting ended unsuccessfully. Additionally the most recent polls regarding the upcoming EU referendum are pointing to a ‘Remain’ lead, which has boosted sentiment towards Sterling and driven the price up these recent highs.

Importantly, the 1.26 level hasn’t acted as a resistance for GBPEUR, which is a positive sign for Sterling bulls as it was the previous support level for around 2 months.

From a personal perspective I’m dovish on the value of the Pound moving forward, i think the political uncertainty will continue to weigh on GBP’s value whenever the subject of a ‘Brexit’ is a headline, and I think current levels offer a great buying opportunity to those looking to convert GBP to EUR that may not be around for much longer in the medium term.

If you are planning to use GBP to buy a foreign currency it may well be worth your time getting in contact with me (Joseph Wright) 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.

Sterling rates SPIKING – 2 week high

Rates of exchange have been climbing this week, surprisingly so.  This is a real change in trend for the Pound and should really be seen as a short term opportunity rather than a long term trend.  It seems clear that the negative trend seen on GBPEUR will be continuing; the BREXIT concerns are building and really are expected to be reflected into the currency price.

Saying that however if you want to take advantage of this gain before it drops, a 2 cents climb from 7 days ago – contact me Steve Eakins on hse@currencies.co.uk

Moving forward over the next 7 days I do expect rates to stay a little flat, if anything a small ‘correction’ down is expected following the IMF meeting this weekend. It would not surprise anyone if the heavy hitters in the economy globally come out with some commentary on the impact to the market if the UK was to leave the EU. If we see this happening expect this to be reflected into the value of the Pound.  Wednesday/Thursday are the buy days next week with unemployment data due from the UK.

For a full break down and forecast please feel free to get in contact – I strongly recommend that anyone with a Euro buying requirement should contact me on hse@currencies.co.uk in order to receive a free, competitive quote on their transfer.

GBPEUR rates changeable after ECB meeting

Readers will be well aware of the event earlier today, the latest ECD decision. The markets are still very changeable from the decision giving opportunities for the quick moving.  Rates today have been over a 6 WEEK HIGH buying the single currency.

If you have a position in the market, don’t hang around – get in contactemail hse@currencies.co.uk or call 0044 1494 787 478 and ask for myself STEVE EAKINS

Moving forward all eyes are now moving to the UK budget next week. It already has been suggested that the chancellor could paint a bleak picture for the UK economy and implement new tax rates and/or spending cuts. This will be seen as negative and result in the value of the Pound falling.

For a full breakdown of the forecast to come over the next weeks and months please contact myself, STEVE EAKINS on call 0044 1494 787 478 and ask for myself STEVE EAKINS

GBPEUR rates are falling and I expect this to continue, 1.25 seems concerning realistic

Yesterday the value of the Pound fell significantly once more continuing a very bad week for the UK.  Rates have now dropped nearly 5 cents compared to only a week ago making a significant difference to the cost of buying anything in Europe.  Sellers however are really enjoying this movement as they are now enjoying the best prices we have seen for over 13 MONTHS.  If you want to move quickly to take advantage of this gain please contact myself STEVE EAKINS quickly, either email me at hse@currencies.co.uk or call on +0044(0)1494 787 478

The reason for this fall has been down to a number of factors but the largest is a global sell off from risky currencies and into where the most return is expected. This is forecasted to be the EURO as a result of their QE program so demand for the euro climbs along with its value and therefore cost.  Yesterday we also saw the import/export figures for the UK which was for last year when the strength of the pound hampered export figures. A poor figure was seen which pushed the value of the pound down further, this not only is for this information but as it potentially gives us an update on the GDP figures this afternoon.  This is expected to show yet another fall and poorer picture for the UK economy and therefore more Sterling losses could potentially happen this afternoon.

The rates we were enjoying last year over 1.40 are well gone, even rates over 1.30 seem a fair strentch at the moment. I expect rates to stay under 1.29 now for some time and with new lows potentially seen of nearer to 1.25.  You have to have a very strong argument to suggest rates will get a lot better for euro buyers in the near future.

If you want more information, forecasts, prices or a chat about the market please feel free to get in contact with myself Steve Eakins at hse@currencies.co.uk or call and ask for me on +0044(0)1494 787 478

 

GBPEUR rates dropping – where is the growth coming? STEVE EAKINS

Why are GBPEUR levels dropping – without growth we see Sterling fall

Sterling exchange rates continue to be under pressure this week with levels continuing to fall.  Many of my clients are asking – why are rates dropping against the euro with Europe being in such a worse position than that of the UK? The simple reason is that the market prices live up to date health forecasts, so the current situation is already priced in.  The question investors are asking is – we have to ask where the growth is coming? As a result of the global slowdown and how open the UK economy is to this due to the high dependency on financial services, you can understand why rates have been dropping and are at risk to drop further.

This is why being up to date on market expectations and forecasts are key in trying to understand market prices and direction.

If you want more information on the current situation and forecast please feel free to contact myself STEVE EAKINS at hse@currencies.co.uk or on 01494 787 478 for a full break down and prices

GDP figures expected to move markets once more.

Tomorrow is the next key date for the GBPEUR exchange rates and one which could have a large impact on pricing, this being the UK GDP figures. These are the first forecasts for Q4 of 2015 and expected to show a slight climb. If confirmed we could see rates climb giving EURO buyers the best levels for the week.  Something to be very aware of however is that with the data for December looking so poor this forecast could be incorrect and we could see rates actually drop if a fall is seen.  Therefore if you are in the market for currency you need to make an educated decision on how to act based on your risk appetite or indeed look at exploiting the tools avalible to take advantage or any gains, these being limit orders, spike notification and stop-loss orders.  If you would like more information on this topic please feel free to get in contact.

I have been assisting people in the market for nearly a decade helping people move money to almost every corner of the globe. Talk to me STEVE EAKINS for a full breakdown, costing and forecasts.

Email me directly at hse@currencies.co.uk or alternatively ring me directly on 01494-787478 and ask for STEVE EAKINS when calling.

GBPEUR rates driving up 1.28-1.31 new range (Steve Eakins)

GBPEUR levels have been driving by a number of factors this year so far. the latest of which yesterday was actually good news for the Pound which resulted in one of the best day gains for the Pound seen this year. This was driven by unemployment figures which confirmed that the jobless market in the UK was improving, with the highest level of employment in the UK for over a decade.

There was some concerns however which was the wage growth which remains stubbornly low. this is gong to be a key piece of data as many expect this to be linked to the BOE’s view on when the general public can afford an interest rate hike on their mortgages. This resulted in Sterling climbing by over a cent.

To take advantage please contact STEVE EAKINS at hse@currencies.co.uk or on 01494 787 478

Moving forward all eyes are on this afternoon with the European Central Bank reporting. This is probabaly a concern for most euro buyers as we expect a positive tone form the bank making the euro more expensive to buy. An update on their QE probgram and the impacts on the economuy well being is widely expected. As a result if you need to buy EUROS this week i would still be moving sooner rather than later.

Tomorrow the headache for euro buyers will probably continue. We have the UK Retail figures for December which due to the mild winter and the flood in the north of the UK are expected to show a fall weakening the Pound.

It really seems that there is little hope for a recovery and in-fact a much stronger argument that rates will continue to fall i am afraid.

For a full breakdown and information on timing a transfer please feel free to get in contact. Ring 01494 787 478 and ask for STEVE EAKINS or email me directly on hse@currencies.co.uk for more information, live price and forecasts.

Look forward to hearing from you.

 

Sterling Euro rates at high

GBPEUR rates climb by 1.5 cents

GBPEUR rates started the year with a volition time. yesterday markets moved by in excess of over 1.5% due to markets being unsettled globally. We also saw a big sell off in the stock markets as China news hit the markets. GBPEUR levels started the year falling down as far as 1.34 but are now over 1.36 centrally.

Moving forward I am more concerns than optimistic for anyone with GBPEUR to trade and think these current levels may be the peak we see for the next 7 days. The reason for this is due to the fact that we have very little economic data due for the UK until next week and that this week is really European heavy.  The Euro zone economy has been showing continual signs of improvements, at least against consensuses, which is why I worry.  I am of the view that this week we are likely to see more European improvements being released in their economy summary and therefore euro strength to be seen making it more expensive to buy.

Thursday is the key day really with the European Central bank due to discuss and summarise their thoughts of the economy for the month at their next meeting. If I had EUROS to buy this week I probably would be looking to move before this event.

For a full break down on forecasts, prices and views please contact myself directly at hse@currencies.co.uk

GBPEUR at risk of falling this week – STEVE EAKINS

Sterling levels have started the week fairly flat and the simply reason for this is that we have had little economic data so far, but that is about to change….

Tomorrow we have the UK GDP figures which is the first estimate for the third quarter of the year.  The view is that this release will either have little impact or result in Sterling’s value falling. The reason for this thought is that the data will either come in relatively unchanged or fall.  The reason for a potential fall is as a result of a knock on impact from the China slowdown and the high value of the Pound 3 months ago impacting import/export figures. As a result anyone with Euros to sell should be happy but GBPEUR traders should be a little wary.

On Thursday we arguably have a bigger day still, this is when we have the latest updates on interest rate change from both the Bank of England and the European Central Banks.  Both of these are expected to show updates which again are probably going to result in GBPEUR levels dropping this week.  From the UK side there is an expectation that the forecast of an interest rate change will be pushed back to the middle of 20-16 which will reduce investment in the UK, demand and therefore price.  From the Europeans we are expecting a change in the amount of QE as they fight the risk of deflation and the slowdown in Germany as a result of the VW scandal.  Now this change could have a positive impact or negative impact on markets. Some will say that printing more money makes the money in the system less valuable so the price of the euro will weaken, whereas others will say that they are addressing the problem and creating better future growth so demand goes up.  My personal view is that the second is probably more likely and as a result expect GBPEUR rates to drop down this week making anything from a property purchase to a invoice more expensive.

If you would like more information on the forecast for the week and the plans many are taking to get the most from it please get in contact. You can contact myself directly via my email at hse@currencies.co.uk.

Look forward to hearing from you,

Steve Eakins

GBPEUR rates falling

Trading levels for euro sellers into the pound have been increasing of late for reasons many are probably not aware. These gains are as a direct result of CHINA data. With their new tone of honesty about their slowdown in growth it is having an impact on global growth and risk. Carry trades are being unwound as a result with a lot of cheap money returned to the single currency. This influx is pushing up demand, value and lifting spirits of euro holders who have been in a very poor position beforehand.

I would stress however that this current trend is probably only a short term spike rather than a long term trend being established. Therefore if you have euros to sell I would remind you of the more traditional trade levels over 1.38 before you set an unrealistic target for your transfer. If you are a EURO seller a target of 1.35-1.34 is still probably at the top end of the range I anticipate to see markets within the next 7 days.

If you are on the other side of the coin with EUROS to buy, the task of timing a transfer this week is more challenging. I personally expect the best levels to be early next week rather than the end of it.

If you have a currency position to trade make sure to ezploit all the tools at your disposal including our pro-active service, and forecasting. If you are a regular reader of this page and are yet to get in contact, what do you have to lose. Make contact today to register your position and we will do our up most to help. Contact myself STEVE EAKINS at hse@currencies.co.uk

 

 

GBPEUR rates falling (Steve Eakins)

Sterling levels have fallen across the board this week again. The market had generally recovered from a lot of its losses seen at the beginning of the month when GBPEUR levels fell 10 cents in as many days.  The reason for this fall yesterday was the same as it was 4 weeks ago, that being China.  China is going through a process of being more honest with its economic forecast. They are simply growing at a slower pace than they have previously been forecasted to have.  This is having a negative impact on global risk and the Pound is the one falling in value as a result.

The concern is now, as we enter the next cycle of months economic data that we could easily see this again. I am of this view that this could easily happen disappointing a lot of people.

The other side of the coin however is the prospect of the IMF deal that is being re-done for Greece. This has been scheduled to take place through the month of October and with is Euro weakness has generally been expected.  I would say however that with the fundamentals of the EU under threat from the refuge crises that the IMF deal will not have anywhere near as much of an impact that many had thought and hoped.

As a result I would suggest buyers to look sooner rather than later at the positions and put plans together. I know that current rates are down, at 1.37 when we were 1.39 earlier this week but learn from what we saw three weeks ago when levels fell all the way down to 1.31.  Does the risk out way the potential benefits? I don’t think so, I think rates will either climb a little or fall a lot over the next 14 days.

For more information contact myself Steve Eakins via email – hse@currencies.co.uk

Sterling EURO rates move on Inflation news – how to get the best price

Inflation update on GBPEUR rates

Yesterday GBPEUR rates reached near 8 year highs as speculation built that the UK data on ‘Super Thursday’ would suggest an interest rate hike would be in the near future. levels climbed on the speculation as it moves happily on rumour and demand before fact, all the way up touching 1.44. The data however did not meet the speculation and forecasts for change was pushed back to next year now and as a result we saw GBPEUR levels drop back down by over 2 cents. A massive movement on the markets and the largest and quickest we have seen for months.  This movement highlights how quickly you have to be when moving money and when rates hit a target you have set it may not be wise to gamble.

How to get the best price

Now levels are around 1.42 and GBPEUR traders are asking whether it will climb further and EURGBP clients are asking whether it will fall further. In my view both is likely, GBPEUR rates are range bound now from 1.40-1.44 meaning that if you are a buyer or a seller and looking to move over the next 30 days I believe that you have every chance to get better levels than where we are now. The key thing as always is being aware of what is coming onto the market, which way it could go and therefore when to watch the markets. This is exactly what our service here is all about, keeping clients informed so that they can make an educated decision. Being your eyes and ears on in the market so you can have the best chance to achieve your target.

What next for GBPEUR RATES

Next on the horizon is US jobless data this afternoon which will have an impact on the demand for the EURO, probably in a negative way making the EURO cheaper once more. Next week we have more economic data which will make the price to either buy euros or sell euros changeable.

If you would like a full breakdown, register for SPIKE NOTIFICATIONS or want access to our live prices please feel free to get in contact with myself – STEVE EAKINS – email me directly at hse@currencies.co.uk with your contact details. I will happily get back to you personally and do everything in my power to save you money in the market.

Look forward to hearing from you.

GBPEUR rates expected to SPIKE one more time

Sterling value is secretly expected to SPIKE one more time this week before the Greek situation is expected to evaporate for the medium term as the UK Election pulls rates down. This is as soon as tomorrow! the reason for this expectation is profit taking in the market on the last day of the month which is when investors pull back profits to hit their respective targets. Due to the QE program in Europe stock markets have climbed again this month meaning most have made profits that they need to bring back to the Pound. This tempory change in demand for Sterling will impact its value probably pushing rates up like we saw last month.

Thereafter the Greek interest payment due on Friday, if met, will probably undo this movement and eyes will then be on the political uncertainty from the UK election which is only next week.

If you have Euros to buy and are willing to take the gamble get in contact for live prices and a pro-active SPIKE notification when the markets move up. Register your interest by calling and asking for Steve Eakins or emailing through hse@currencies.co.uk

GBPEUR levels for the week

Sterling value shoot up yesterday due to two reasons; both of which were not expected. Firstly the fact that the Greek PM got on a plane to Moscow in the morning. The thought being that they could be asking for financial aid outside of the current agreement with the ECB and others. The second was the large corporate trade agreed between a UK oil company and Shell. This was in the billions and will involve a multi-billion pound purchase by the Dutch company along with a rather large tax bill, both helping sterling value climb.

Great news for anyone with Euros to buy as levels have climbed by over 2 cents in the last 2 days. I personally expect levels to fall back slightly this morning as UK data is expected to show a fall but I would not be too worried. On Friday morning UK GDP figures are expected to show a improvement pushing levels up once more for EURO buyers.  As a result within the next 36 hours we will have a better price for buyers and for sellers highlighting how important speaking to a specialist is when moving money internationally.

Longer term many, myself included, expect rates to fall in the build up to the election. I expect this to start to have an impact from the end of next week as the economic data for the month concludes and traders look forward to the economic policies of the parties which could get in power along with the potential EU membership debate.

For a full break-down and to learn how to take full advantage please get in contact – email myself, Steve Eakins with your contact details for a personal response – hse@currencies.co.uk

GBPEUR rates continue to fall

GBPEUR levels have continued their fall recently as uncertainty continues to weigh down on Sterling’s value. Rates seen 2 weeks ago when levels reached a new 8 1/2 year high of 1.4250 are now long gone and I personally don’t see these levels returning any time soon. At that point the QE program in Europe was undefined, Sterling economic data were beating expectations and European date were falling at the time. Now however economic data has returned to more ‘traditional’ levels causing GBPEUR rates to also fall and start reflecting this change in tone.

UK Inflation on Tuesday was one of the largest catalyst to this change as it fell to ZERO compared to the same period last year. This now changes the forecast for Interest rate change in the UK, from potentially going up at the end of this year to potentially having to be cut.  There is a building concern that we could see the UK Economy follow their European cousins with the risk of deflation increasing.

There are always two arguments as to which direction the GBPEUR rates will go moving forward, I personally however think that the negative trend that has established itself will continue. There will be short times where opportunities will be available, if you would like to be notified of these please register for SPIKE NOTIFICATIONS by emailing HSE@Currencies.co.uk

GBPEUR levels and how to trade wisely

GBEUR levels have fallen today as UK data has missed expectation. There is however some hope on the horizon as we see UK GDP figures this afternoon which could see sterling’s value recover against most majors. Against the Euro I expect Sterling to hold steady generally this week but against the USD I expect rates to end the week lower than were we are currently. US data on Thursday and Friday is expected to show a climb giving the USD some strength.

 

Here we help people in a number of ways; from the basis saving seen on the exchange rates we buy to helping time transfers or mitigate risk of events outside of trading hours. It is a service that we have been providing for over 15 years now and simply put if we could not save our clients’ money we would not be in business. The first step is to get an account open here with us if you have not already, this costs nothing and is simply a legal requirement to make sure that you are not an international drug lord or connected to the Italian Mafia. Thereafter you are ready to go when needed, we can then help you with the market movement expected within your ‘trading window’.

 

To get the ball rolling or if you would like more information on the timing of a trade contact myself, Steve Eakins, via email at hse@currencies.co.uk

GBPEUR rates wobbly but eyes are now on tomorrows decisions

Sterling has already seen a large swing in its value against the single currency over the last 3 days. Levels have climbed by almost 2 cents before falling a cent in yesterday’s trading. These loses were seen as the central bank in Europe released forecasts for growth which were dramatically cut. This lower growth has an impact on the demand for the UK’s exports, over 60% of which go to Europe. We also saw US data miss expectation, their exports fell dramatically resulting in money flowing from the green back to the single currency.

Moving forward watch out for the interest rate decision both in the UK and Europe tomorrow. This will be rather interesting, especially in Europe as the head of the bank trying to fight falling inflation. It is also their first opportunity to really comment on the US tapering coming to an end which could throw up some surprises.  Contact us here for a full break-down of the data ahead and the expectation on the currency market. Call on the normal number found here or email me directly at hse@currencies.co.uk

GBPEUR levels expected to fall further

GBPEUR levels are ending the week a further 2 cents lower than where they started and near to 4 cents lower than the start of the month. This makes a HUGE difference on the cost of buying anything from stock to property in Europe and anyone in that situation should be very wary of future falls.  I personally think that we could see levels fall further this month as data from the UK continues to pain a poor picture. Plus with concerns in Europe international investment in the UK is falling having an impact on its demand and value. Plus on top of that be wary of the Ebola outbreak and the EU court case, both are starting to have an impact on currency swings.

 

Saying the above however timing a trade will remain important in getting the best price. Here we have a number of tools including RATE ALERTS and SPIKE NOTIFICATIONS which are aimed at assisting people looking at maximising their transfers. Here we have won a number of awards for both our personal, proactive service and the rates of exchange we have access to so I am sure we will be able to help. Simply put if that was not the case we simply would not be in business. So if you are a regular or a new reader who has not got in contact yet, do so! You can contact myself, Steve Eakins, via my email address at hse@currencies.co.uk Simply get in contact and I can quickly discuss your options, the days to be wary of and the live prices.

Look forward to hearing from you.

Steve

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.

When to trade the GBPEUR – best price

Buyers of the euro have taken a little knock this week as the value of Sterling has fallen back slightly.  I think however this will only be short lived and next week will give GBPEUR traders a better level still with all eyes on the Europeans.  They have continually highlighted their concerns about inflation across the single currency and have hinted that they plan to bring in new policies to tackle this factor.  It means that euro sellers have only a small window to trade at these levels before they probably fall in value further.

Inflation on Tuesday from Europe and the meeting on Thursday will BE KEY next week and could have a founding impact on the exchange rates on offer for a long period.

If I was a seller of the euro I would probably move tomorrow when German data is expected to give some slight relief.  Euro buyers will probably want to wait until next week but the choice is not an easy one; do you move on the expectation before the release on Thursday or wait for the announcement?  I personally am not a risk taker so would probably look at moving beforehand or split my exposure doing some before and after the key release.

If you are in the market looking at trading the EURO feel free to get in contact. We can help with timing the trade as well as getting better prices. Contact us today for an inform chat or quick quotation request so you can see how much you could save.

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