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Sterling Euro exchange rates waiting for Greek referendum (Tom Holian)

Sterling Euro exchange rates have had a quite end to the week with little movement between the high and lows on both Thursday and Friday.

Whilst still close to the best exchange rate for buying Euros since 2007 the markets are eagerly anticipating the outcome of the Greek news this weekend.

The Greek referendum taking place tomorrow is currently too close to call if you look at the opinion polls.

There is currently only EUR500mn in Greek banks as of Friday with limits of just EUR60 per day which is clearly worrying and to me I think Greece needs both to keep the Euro and also stay in the Eurozone.

I can understand the difficulties but to me they have little choice but to bow down to the demands of creditors as if not the country could risk further financial issues which could take years to sort out.

Whatever happens tomorrow this will potentially cause of lot of movement for Sterling vs Euro.

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

 

 

 

Sterling Exchange Rates Remain Strong (Matthew Vassallo)

It’s been another volatile week for Sterling, with big swings against most of the major currencies. We saw GBP/EUR rates spike back to an 8 year high before falling away during the week and with global uncertainty due to the Greek crisis, we have seen investors sell off their EUR positions. This has helped boost the USD, which is always considered a safe haven currency in times of global unrest and in turn this has boosted the Greenbacks position against Sterling over the past couple of days.

The biggest swing we have seen however has come today on GBP/AUD rates, which has seen the Pound gain over 2 cents and moved the pair back out to a fresh 6 year high. Australian Retail Sales figures were released overnight and came out worse than expected at 0.3%. This coupled with positive UK data this week has helped boost Sterling’s value and I would be very tempted to take advantage of the current spike and not gamble on such a volatile market.

GBP/EUR rates have dipped from the high of last weekend but still look very attractive for EUR buyers. With so much uncertainty surrounding Greece it is very difficult to predict exactly how the situation will evolve. Personally I feel a deal will be reached next week but with a referendum scheduled for Sunday, when the Greek public will decide whether or not to accept the proposals being put forward by Greece’s creditors, we may find the landscape and market conditions have changed considerably by then.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on mtv@currencies.co.uk

Mixed day for Sterling on the Markets as we await progress on Greek talks (Joshua Privett)

For once reason the main highlight for the day wasn’t Greece and the Eurozone, but rather the USD.

Today is always an incredibly volatile period on the monthly calender where a swathe of employment figures for the US economy are released. In this instance it was a mixture of positive and negative news. But the markets were expecting an entirely positive day, so the Dollar actually weakened against most major currencies. Non-farm payroll data came out much lower than expected, but it still was enough to nudge the employment rate even lower. This shows that positive data, the kind that would even make it into news headlines, does not necessarily translate into favourable buying rates. For more information on how this data affects USD and CAD buying rates click here.

Polling data released today suggested that the Greeks would vote to accept their creditors demands in order to receive bailout money. This is only preliminary, and after the recent UK election polling data is no longer treated with the same certainty it once was. But it was enough to cease all of the capital flying out of the Eurozone in the face of the Greek crisis. This capital had previously been boosting the value of Sterling artificially on the markets, however, now that it has stopped the ‘bubble’ has started to deflate. As such Sterling dipped below 1.40 briefly today, making a lot of Euro buyers nervous that this was a sign of things to come.

Personally I feel that dropping rates aren’t necessarily a sign that the Greek crisis is over, people are simply buying Euros while the rates are so cheap, which increases the value of the Euro through increased demand. Unfortunately, this means those who don’t buy early have to pay more.

I would recommend that those who have a Euro requirement to email me overnight on jjp@currencies.co.uk detailing your situation and your timeline for when you need to complete a transfer. I can give you some tailored advice, and this will allow us to stay in contact directly during what is likely to be a dramatic and unpredictable few days on the political scene. You will have access to my views throughout the day, rather than general snippets from these posts once or twice per day.

Similarly if you have a USD requirement and your plans were changed today, email me for more information on where the rates will likely be when you require a transfer and/or for a free quote.

Will Greece Crack and change their minds? (Tom Holian)

Sterling Euro exchange rates have been waiting to see what happens with the latest Greek deal which is dominating the headlines.

With the situation ongoing in Greece the latest news is that PM Alexis Tsipras has performed a bit of a u-turn on the IMF proposal and it appears as if he could be close to accepting the terms on offer.

However, the real spanner in the works is the Greek referendum looming which is not going down well with the rest of Europe.

Indeed, Europe has pretty much closed the doors on any discussions until the referendum has taken place creating even more uncertainty and excellent opportunities to buy Euros during the course of this week.

Moving the focus to Canada for a change, rates to buy Canadian Dollars with Sterling are now at a 7 year high owing to the uncertainty in global markets and less appetite for commodities.

This has weakened the Canadian Dollar which is  heavily reliant on commodity prices and global growth. For more detailed information please click here for further information.

If you have a currency transfer to make and want to save money on any currency pair of exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

Just what will happen with Greece and how will this impact sterling exchange rates?

Trying to figure out what is next with Greece is a very difficult thing. We just don’t know how the markets will react when there is such a wide range of outcomes! The sensible thing in this case is to plan for all eventualities I feel and take stock of the current rates. Do not be upset if you find out that the rate you had been expecting and banking on is no longer available next week! Trying to make plans in such an uncertain market is of course no easy feat but something I would suggest doing in this environment.

If you need to buy a foreign currency with sterling the current exchange rates are much improved compared to recent years. There is a strong likelihood they could dip once a Greek deal is achieved since many foreign currencies will strengthen as investor confidence returns to the market. The Euro will rise on the back of any positive news for Greece and commodity currencies like the AUD, NZD and CAD will also strengthen. The USD should weaken as it goes against the trend, tomorrow’s Non-Farm Payroll for the US is the big news for the end of the week. For more information at no cost or obligation please contact me Jonathan on jmw@currencies.co.uk

Euro gains back a little strength as Greece may now accept terms – GBP/CAD spikes following poor growth figures (Daniel Wright)

We have seen a little Euro strength this morning as the Greek situation took one step closer to being resolved…. Well for the time being anyway!

Personally I feel all we are going to see is some papering over of cracks at best and this whole situation will no doubt be back in the headlines before we know it.

The only thing that is certain over the next week or two is that there will be some great buying opportunities and some fantastic selling opportunities for the Euro so if you are in the process of buying or selling a property overseas then it may be prudent to get in touch with us here. We have a number of free contract types than can help you to secure a rate should there be a spike or protect yourself again a drop in exchange rates should it happen suddenly. You can email me directly on djw@currencies.co.uk and I will be more than happy to contact you personally to explain how these work.

We have seen a great spike for those looking to buy the Canadian Dollar of late thanks to growth figures in Canada coming out a little worse than expectations and indeed dropping into negative territory at -0.1%.

Rates for Sterling against the Canadian Dollar are creeping towards the 2 mark and I feel this may now be a distinct possibility in the coming weeks.

if you are looking to exchange any major currency then I can assist you both in terms of assistance with timing and getting you a great rate when you do book it out. As above just feel free to contact me (Daniel Wright) by emailing on djw@currencies.co.uk with a brief description of your requirements and a contact number and I shall be more than happy to contact you personally to explain how I can help you.

 

Sterling Euro Exchange rates and impact of Greek Bailout (Tom Holian)

Sterling Euro exchange rates have once again broken through 1.41 during today’s trading session as fears increase of the Greeks defaulting today on their debt of EUR1.6bn due to the IMF.

There have been numerous meetings this month between the Greeks and Europe with no resolution so far provided.

However, this evening another proposal has been suggested but to me I think it’s a little too late and no deal will be concluded in order to satisfy today’s deadline.

I do think negotiations will carry on and a resolution will occur but over the next few days whilst the uncertainty continues I think we’ll see even higher exchange rates for Sterling vs Euro.

This evening the Greeks have asked for a loan of over EUR29bn until the end of 2017 to cover debt repayments.

However, this deal is likely to takes weeks to organise resulting in even more uncertainty for GBPEUR rates.

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

 

 

 

Currency Exchange Forecast – When to BUY or SELL GBP / EUR / USD ( Andrew Bromley )

Once again Greece is the main on-going focus, with even the BBC printing articles indicating a Greek exit. Sundays emergency referendum has the makings of the ‘beginning of the end’ for the Greek membership of the Eurozone, as Alexis Tsipras (Greek PM) is openly recommending a NO vote. This would essentially cut Greece out of the Euro and Eurozone and a return of the Drachma could be on the cards. I personally do think that the Greek people will vote NO, however the exit from the Eurozone will be a drawn out as their debt negotiations!

I’d be looking to SELL Euros whilst rates are in the 1.40s as there is a much greater risk of rates pushing higher than dropping to say 1.35! Euro buyers may be wise to move when rates push north of 1.4125…

Unspectacular GDP details this morning have not boosted the Pound – neither did the Eurozone inflation figures that were released shortly after…

USD

Key US Nonfarm Payroll figures dominate this weeks USD data, as Dollar holders hope for both an improved unemployment figure and a good amount of new jobs created.

I personally think that the 1.57s are the top of the current trading range with a move back towards the 1.50 level more realistic. Although this won’t be a swift drop I wouldn’t be surprised to see levels get to 1.55 by the end of the week.

The Dollar should also benefit from a flow of currency from Euro holders as fear of a Greek exit will tempt investors to leave the single currency.

If you do have an exchange requirement feel free to get in touch. Either drop me an email to AJB@currencies.co.uk or call the trading line directly on 01494 787 478.

look forward to hearing from you…

 

Greece to leave the Euro? Exchange Rate Forecast – When to BUY or SELL EUR USD – Andrew Bromley

Eurozone – Euro Crisis

2015 is shaping up to be one of the most dramatic years in recent trading history. This weekends shock move towards a Greek debt default has made predicting the outcome even harder. I personally remain of the opinion that Greece will remain in the Eurozone and Euro, but tomorrows repayment of €1.6 Bn Euros looks set to be unpaid. With a payment of over €3 Bn due next month

Greece has declared this week as a public holiday in order to set up for an extraordinary referendum on Sunday as to whether or not to stay in the Eurozone.

Here’s a point to note… The average Greek pensioner has had their payments cut by 40% and are supporting 3 generations. Why would they vote to stay in the Eurozone when there is no light at the end of the tunnel?!

Obviously that is an opinion and realistically what the negotiating parties are attempting to avoid. Could we see yet another extension to say March 2016??

All in all things are pretty bleak for Euro holders, especially those holding their Euros in  Greece. Unfortunately Greece look set to implement capital controls, preventing withdrawals of over €60 per day from leaving the banks. This too little too late as over €1 Bn has been leaving the country daily for the last few weeks, drastically wiping value off of the bank balance sheets.

Those with Euros to sell, you should have nerves of steel if you’re considering holding on! Not only is the Greek situation so dire but if you’re buying GBP, don’t expect the Pound to hand much ground back to the ‘single currency’. With the UK set to raise interest rates in 2016 it should go from strength to strength.

USD Forecast

A tricky Nonfarm Payroll announcement is the key data for the week, this Thursday rather than Friday (due to Independence Day on Friday). I’m personally still in the camp believing a rate hike will materialise in September. A strong ‘print’ for the Nonfarm figures would certainly be good news for the Greenback and would certainly turn some of the analysts against the hike in to a more positive position. Crucially the unemployment rate has worsened over the last few months – it is important to see this improve.

CAD Exchange Rates

A big swing has been seen as the weekend closed in the 1.93s, recovering to the 1.95s comfortably this afternoon. Feel free to take a look at www.cadforecast.com for a more in-depth CAD overview. I personally think the Pound is heading to the 2.0 level but with a few slips en-route. I’d therefore look at fixing whilst the market is 1.95 and above to secure levels that offer currently a 7 year high.

If you have a currency transfer and would like to discuss it feel free to drop me a line. I can assist you in achieving award winning exchange rates, but also simplifying the process…

(The currencies discussed are a snapshot – all ‘major’ currency requirements looked at!)

Either email me – AJB@currencies.co.uk

or call the trading line 01494 787 478 and quote this blog!

Have a good evening

Andrew Bromley

 

 

1.43 on the markets! Two days to save the Euro!

GBPEUR has rocketed as Asian markets open and investors begin dumping the Euro in anticipation of the two most important days in the history of the Euro. What happens now will decide not just Greece’s fate but also the rest of the Eurozone. Sterling is benefitting rising against all currencies so far but to make a firm prediction on just what will happen is incredibly difficult.

There is a simple formula to follow here. As the uncertainty increases with no deal the Euro will weaken and the pound should rise. This will only be true up to a point where if Greece leaves the Euro the UK would suffer some financial losses. The USD will rise as it has done possibly significantly if Greece does leave. The commodity currencies like AUD, NZD and CAD are struggling with the uncertainty too!

If a deal is struck then the Euro should recover and sterling which had benefitted from safe haven funds, weaken. A deal is what I believe will happen because I don’t think the alternative is worth contmeplating! One thing is for sure the next couple of days are significant for anyone with a currency transfer to consider. If you wish to get the latest news and understand more about what is and will drive your exchange please contact me Jonathan on jmw@currencies.co.uk.

We are here to provide information but also offer a service for international money transfers at the best exchange rates. If you wish to learn more and check your exchange rates please contact me and I hope you see your rate!

Jonathan

jmw@currencies.co.uk

UK Business hours 00 44 1494 787 478

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