Tag Archives: when to buy euros

What will happen to GBPEUR after Article 50 is triggered?

Once Article 50 is triggered I expect the pound to enter a new phase against the Euro although at the moment I cannot see it breaking it out of the recent ranges of 1.13-1.18 we have been trapped in. The pound and the Euro have both found support in recent weeks as solid economic data and improved political certainty aid both currencies. The US dollar has also weakened lately, the main beneficiaries being the pound and the Euro. Both GBPUSD and EURUSD have both risen 3-4 cent in the last couple of weeks ever since the US failed to increase their interest rate hike expectations.

There is a distinct lack of volatility in the market on GBPEUR at present with only 60 pips (0.6 of 1 cent) movement between the high and the low yesterday. Eager Euro buyers may well see some improvements once Article 50 is triggered but I cannot see it lasting long as there are some big questions on the horizon which I foresee as likely to contribute to a decline in the value of the pound. I cannot see how the UK can come out of these negotiations with a better deal than it has already with the EU.

Clients reading GBPEUR for spikes to buy Euros could find some relief around the time of the French elections although Marine Le Pen is not expected to win so any spikes could prove short-lived. I also feel it would be a risky strategy holding on since who knows how weak the pound will be at that time?

The UK’s relationship with the EU has been the downfall of many a Prime Minister and a politician, David Cameron the most recent example. Can Theresa May navigate this rocky road with her reputation and the Conservative party intact? History tells us that the odds are stacked against any success here.

If you have any requirements to buy or sell pounds and Euros in the coming weeks and months then tomorrow’s news and the political fallout on both sides of the Channel will be key to determining the direction on GBPEUR in the future. If you would like some proactive assistance with the timings of any transfer then please feel free to get in touch as I would be interested in speaking to you and offering some information on when may be the best time to buy your currency.

Please email jmw@currencies.co.uk to learn more.

Jonathan Watson

 

When to buy euros this week? (Dayle Littlejohn)

It was a poor week for the pound against the euro. GBPEUR exchange rates started the week at 1.1813 and closed at 1.1550. For euro buyers this means a €200,000 purchase is now … more expensive compared to just 7 days ago.

GBPEUR plummeted close to 1% Friday afternoon therefore I wouldn’t be surprised to see the market level itself out early Monday morning and therefore GBPEUR rates rise back into the 1.16s however this could be the best level to buy euros for the week.

President of the European Central Bank Mario Draghi is set to address the public Monday at 3pm. Of late the President has taken a bullish approach and therefore the euro has benefited.

Later in the week the UK release their latest Mortgage approvals and GDP numbers. Mortgage approvals gives a good indication the health of the Housing market. It’s reported that confidence in the UK housing market has dropped as investors want to know how the Brexit will impact the value of the property. Therefore I wouldn’t be surprised to see this data release disappoint.

Friday UK GDP numbers again could disappoint. The Office for National Statistics have reported that they feel a contraction in the service sector is just around the corner, and the service sector makes up 80% of GDP.

If you are buying or selling euros this year, today is the day to get in touch. Many people still believe the only way to transfer large amounts of money is through the bank and this is not the case. The company I work for enables me to give better exchange rates than high street banks which consequently means the individual saves money.

I would recommend emailing me with a brief description of your requirements and your timescales (this is very important, the length of time you have will change your options) and I will email you with my strategy and the process of using our company drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **

GBPEUR rates at near 3 month high – Why would you not buy now – STEVE EAKINS

UK GDP figures have been the focus for many traders today. This being the first estimate for Q1 of 2016.  Widely expected to show a slowdown as the concerns about the BREXIT impact business. In-fact there was no slowdown shown in the respective release this morning, the UK economy is expected to have grown by 0.7% and the year forecast has been revised up to 2.1%

This positive stance has helped the pound this morning to recapture some of the profit taking which took place yesterday. We now stand at the best levels we have seen for nearly 3 months buying the single currency.

Great news for anyone with euros to buy as most have been having a horrid time with rates down by nearly 7 cents within the last few months. Rates are currently better by over 3% compared to only 7 days ago.

Moving forward of cause the question is, will we get any higher?

I don’t think so, I have a view that within the next 7 days we will see rates wither climb by a little or drop by a lot. I think the risk out ways the opportunity for anyone with GBP to sell.

I base that on the BREXIT leave campaign being very quiet, I have not really heard Boris for some time now and he is not a man that keep quiet for long.  Yes the economic argument has been somewhat weakened by the commentary from Barack Obama but I don’t think the war has been lost, just the battle.

To move on today’s prices or to get a more personal forecast for your situation please feel free to get in contact. Call myself STEVE EAKINS or email me on hse@currencies.co.uk

Happy trading

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.

Will GBPEUR go back to 1.40?

With economic data pointing to improvements in the Eurozone economy and sterling on a major slide it is looking very difficult we will see an improvement back towards the levels that led to us achieving the 1.40 mark. Expectations on what to expect hinge on the Eurozone economy giving up some of the recent ground in terms of an improving Unemployment picture plus us expecting to see a revisiting of the QE decision. At the beginning of the week some analysts were debating whether or not the Eurozone would need to look at further founds of QE, this scenario has been removed for the time being but could easily rear its ugly head causing the Euro to weaken.

The pound is struggling because the UK economy is struggling and there is the Referendum on the UK’s membership of the European Union looming. The stock market wobbles in China are also causing panic with China a very big investor in the UK, the worries in China have caused uncertainty for sterling. As well as troubling UK inward investment, the chance of any interest rate hike in the UK have been pushed further back too.

If you are looking to move in either direction on GBPEUR (eg buy euros or sell euros with pounds) and wish for a better exchange rate and to get more information on what is happening and what might happen in the future please speak to me Jonathan on jmw@currencies.co.uk

When will the GBPEUR rate break free from these ranges?

GBPEUR has been trapped in a range between 1.34 and 1.36 which is doing little to unsettle the many clients out there looking to buy or sell. With little on the horizon to boost sterling anyone who needs to buy a foreign currency with sterling including the Euro should in my opinion move sooner. The likelihood is the that the Euro will strengthen further now the Greek deal has been signed off.

The outlook for the Euro is not very certain because of Greece but with this uncertainty removed the Euro has found favour and I personally suggest anyone who needs to buy Euros makes a move sooner rather than later. The long term forecasts are not supposed to favour the pound in this environment of economic uncertainty from China and the lack of activity by the Federal Reserve on rates too.

In short if you need buy Euros I would suggest moving sooner to capitalise on the market movements in the last few months, delaying further might cause real upset. For more information on howto best maximise your exchange rate please speak to me Jonathan on jmw@currencies.co.uk

What next for the GBPEUR exchange rate?

The GBPEUR has taken another leapfrog over 1.43 further helping Euro buyers and creating more misery for Euro sellers. On balance it seems reasonable to expect the pound will maker further inroads on the embattled Euro creating further havoc for anyone trying to plan their future currency transfers. The pound has been finding more and more favour in the last few months as interest rate hike expectations improve for the UK. Just what can we expect around the corner for the exchange rate? I am widely expecting the pound to continue to rise as the UK economy improves and investors confidence in the UK soars. Put it this way if you wanted to make the most of your currency exchanges what would you rather be holding? Euros or the pound? For most market participants the answer is easily the pound!

If you need to buy or sell Euros doing everything you can to maximise your exchange is the best thing to do. Speak to me Jonathan about all of your options on jmw@currencies.co.uk.

To what extent will the GBPEUR recover?

Euro buyers should be ready for more losses in the future as it looks more and more likely the GBPEUR rate will fall further in the future. It is rather upsetting if you have become very used to getting 1.40 to suddenly adjust to 1.35, but think how difficult it might be to adjust to getting 1.30 or worse!

No one can tell exactly what will happen on exchange rates but working out the figures well in advance is the best way to ensure you don’t lose out if things do change. For more information at no cost or obligation why not speak to me Jonathan on jmw@currencies.co.uk about the expectations on the exchange rate.

GBPEUR could drop on a Greek resolution

GBPEUR is likely to drop on the settlement of the Greek uncertainty, that is once the Eurozone can agree on a package for the Greeks and a framework within which they can all make a plan to settle the huge outstanding Greek debt. To what extent will this happen? Well there are never any guarantees on the market but we would expect by and large to see the situation rectified which will cause the Euro to strengthen.

Let us look at the facts. Both side want Greece to remain part of the Euro. To let Greece leave will set a very dangerous precedent for the rest of the Eurozone which might lead to further countries leaving in the future. On balance I would expect the rates to remain good for buying but strengthen once the resolution is achieved.

To keep up to date with the latest new on the Euro and GBPEUR please contact me Jonathan on jmw@currencies.co.uk

GBPEUR above 1.27

Well daily the GBPEUR rate seems to be improving for Euro buyers. The forecast for the immediate future looks rather promising but if you need to buy Euros moving sooner might not be a bad option to capitalise on the excellent rates on offer. If you are buying or selling Euros and wish to check you are really getting the best exchange rate why not speak to one of us to find out if you really are getting the best deal.

We offer various options on buying currency for you including a forward contract and Limit order to help manage your risk and exposure to the most notably volatile markets in the world. For more information at no cost or obligation why not speak with me to find out exactly how we can help? Please email jmw@currencies.co.uk to get the latest news.

GBPEUR fall is not unexpected and may get worse

GBPEUR dropped last week as the Bank of England confirmed interest rate rises are likely to be much further into 2015 than previously thought. From here on it is highly likely that the pound will come under more pressure as the main reason for GBP strength this year is the high expectation of an interest rate rise for the UK. Moving forward I expect any interest rate rise for the UK will be put much further back and GBP will suffer as a result.

If you wish to learn a little more about how this will impact your currency transfer please don’t hesitate to contact me directly on jmw@currencies.co.uk

GBPEUR at two year highs! Will it last?

GBPEUR rates are still extremely attractive and worth taking advantage of. The current outlook for sterling has been positive simply because of interest rate hike expectations for the UK economy. These expectations look set to remain the primary focus but I really feel interest rates will continue to be low for a very long time. The economy quite frankly cannot support the higher rates and it is likely the Eurozone will face further wobbles, further damaging UK trade.

If you need to buy Euros with the pound please speak to us for the best rates and service, please email me on jmw@currencies.co.uk

Sterling remains healthy after the Scottish referendum (Ben Amrany)

The pound has remained steady trading in the 1.27’s against the Euro as the dust seems to be settling after the Scottish referendum. I feel that rates will now remain range bound between 1.2650 and try to test 1.28 over the next week or so. We have seen a gain for the pound of over 3 cents when the pound bottomed out due to the uncertainty of the referendum so now does seem like a very attractive level to be buying Euros at.

The next main point of focus will be on when interest rates will rise in the UK again. This will be the main talking point and every economic data release will have a big impact on predicting the hike. The markets are expecting a rat rise in the Spring of 2015 and if pushed further back over the coming weeks or months we will see a decline for sterling at some stage.

Keep an eye out for German data tomorrow morning which could assist the pound rise if the data is below expectations.

 

If you require an exchange to buy or sell the pound against the Euro then please do feel free to contact myself Ben Amrany at bma@currencies.co.uk

 

Sterling tumbles after inflation. Best rates to sell Euros (Ben Amrany)

The pound was severely knocked of its perch this morning after inflation in the UK fell to 1.6%. We saw GBP/EUR hit a low of 1.2458

This is negative for sterling as it gives the Bank of England more scope in not having to raise interest rates sooner. Interest rates are one of the biggest factors in what effects the exchange rates and inflation is a big factor on when interest rates may go up. The sooner interest rates rise the stronger the pound should be (theoretically speaking) We are not expecting interest rates to go up before next year now but tomorrow we will learn if any members of the Bank of England voted for a change in interest rate policy. Now should just one member of the central bank vote for interest rates to rise then we may see the pound recover todays losses. If no members have voted for a rate hike then the pound could continue to weaken effecting your purchase.

The next week or two may bring about some good opportunities to sell the Euro against the pound as we still expect the pound to be fairly strong as we head closer towards 2015. If you require buying or selling the Euro against the pound then please do feel free to contact myself Ben Amrany at bma@currencies.co.uk and I can explain the options available to you regarding your requirement.

Thank you for reading

Ben Amrany

bma@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

best exchange rates in a month as GBP/EUR breaks through 1.21(Ben Amrany)

The pound surged through 1.21 today against the Euro spiking at a high of 1.2148. The boost for the pound came after positive data was released from the manufacturing sector along with some very positive comments by the Internatinal Monetary Fund (IMF) They stated that the UK economy will be the fastest growing out of the G7 countries.

It says the UK will grow 2.9% in 2014, up from a January estimate of 2.4%, and will see growth of 2.5% in 2015. Overall, the IMF says the global economy strengthened at the end of 2013. It forecasts global growth of 3.6% this year and 3.9% in 2015. These comments show the UK economy is performing well against some of the other major currencies around the globe and this could stand the pound in good light going forward.

I would expect the pound to continue to gain on the back of these comments over the next 24 hours or so and this could be a good time for you to look at capitalsing on the exchange rate if you require a purchase of Euros in teh near future. If you are selling the single currency to buy sterling i would seriously try and stopp the loss as I feel 1.17/1.18 is long behind us now.

If you are looking at buying or selling the pound or Euro against any of teh major currencies we are here to help you make a saving on your exchange. Please email myself Ben Amrany at bma@currencies.co.uk to discuss your requirement and I can explain the options available to you to try and help you maximise your exchange and transfer.

 

GBPEUR News this week…

The outlook for the pound remains very positive but the Euro is expected to remain strongly favoured too. On balance I would expect the euro to win the battle over the course of the next few weeks. If the ECB (European Central Bank) is to be believed they expect that inflation will naturally rise next month and up ahead. Quite frankly this is a last chance saloon for the Euro and the ECB. If the Inflation picture doesn’t improve soon then we could be in a whole world of trouble for the Eurozone!

If you need to sell euros to buy sterling even with the positive picture for the Euro, this possibility is something to beware of which could really disrupt the current outlook. For more information on what will drive the exchange rate please don’t hesitate to contact me directly on jmw@currencies.co.uk

Best rates for buying Euros at 1.21(Ben Amrany)

The pound has finished the week on the front foot against the Euro with GBP/EUR spiking to 1.2109. This week all of the UK’s PMI services survey came out below expectation but has shown signs that the UK economy is still growing at an acceptable pace.

Over in the Euro zone yesterday was their interest rate decision for April. They kept rates on hold at 0.25% as expected. They refrained from taking any further measures to combat their falling rat of inflation which must be a big concern. In the press conference shortly after the decision Mario Draghi made it very clear that if things continue to drag on and deflation becomes a real concern they will have to take some sort of action. He referred to using unconventional measures and even mentioned the dreaded word quantitative easing.

These comments dragged the Euro down and could keep the pound relatively strong against the Euro until next week’s economic data hit the markets. When the next inflation figures are released for Europe and if they continue to show signs of weakness this may prompt the ECB to take the action they have discussed and this could be Euro negative.

If you require buying the Euro I would see how things pan out over the next week to see if you can achieve slightly better than the current trading levels. If I was selling Euros I would be acting sooner rather than later as teh risk of a fall in value could be very costly.

if you would like to discuss a requirement that you have to buy or sell the pound or Euro then please contact me at bma@currencies.co.uk and I can explain how we can achieve better rates than the banks while offering a very personal service to help you maximise your exchange.

If you are in the situation needing to move money internationally and looking for the best price – please feel free to contact the author – Ben Amrany – via the telephone number at the top of the page or via email at bma@currencies.co.uk

 

 

A very busy day for the GBPEUR rate!

Today there is a whole host of economic data due with a large propensity to move the market. The data releases have already kicked off with Eurozone PMI (Purchasing Managers Index) slightly down but there are many more opportunities to see movement today. The first major release is for GBP with the PMI Services data due at 09.30 am. The last couple of days have seen sterling lose value owing to not so great PMI data for Construction and Manufacturing. The Services print will be very interesting therefore and will likely set the tone on sterling for this morning.

Moving to the afternoon be on the lookout for the ECB (European Central Bank) Interest Rate decision. Just how will Mario Draghi and the rest of the ECB be viewing the recent dip in Eurozone Inflation? There appears to be an expectation Inflation will pick up again in the coming months which is outweighing an immediate concerns of falling Inflation.

If you need to buy or sell a large volume of currency, a small difference in the exchange rate can make a huge difference. Our service is designed to proactively manage your exposure to the currency markets making sure you are aware of all of your options and events that could affect the exchange rate you get.

For more information on getting the very best exchange rates please contact me directly on jmw@currencies.co.uk

Will GBPEUR hit 1.22?

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

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

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