Will Sterling vs Euro hit 1.40 again? (Tom Holian)
Sterling Euro rates have had a very good end to the week with levels pushing above 1.38.
The positive data which has helped to strengthen the single currency such as rising inflation and strong German factory orders has now been pushed back into the shadows as the Greek bailout hogs the limelight.
During the last couple of days the Euro has weakened as talks between the IMF and the Greeks have broken down with no deal yet agreed.
The country has almost EUR7bn due to be repaid...
GBP EUR Supported after Upbeat UK GDP (James Lovick)
Sterling exchange rates continue to hold at these recent higher levels after a solid week of good gains. Rates for GBP EUR are now sitting at 1.1750 which is presenting anyone that needs to buy Euros with some better buying opportunities. It is only 1 month to go now before Article 50 will be invoked under UK Prime Minister Theresa May’s diary for Brexit.
The Gross Domestic Product figure from the national Institute for Economic and Social Research (NIESR) arrived steady at 0.7% showing no...
Sterling Jumps Higher on Positve Potential at Bank of England Meeting (James Lovick)
The pound has rallied very well today against most of the major currencies including the Euro. GBP EUR has gained over 0.75% throughout the course of the day. This is welcome news considering the pound suffered losses last week despite better than expected Gross Domestic Product figures at the end of the week and the news that Nissan was to invest in Britain at the Sunderland plant.
There are a number of important data releases for the UK this week including the Purchasing Managers Index...
GBP/EUR rates set in limbo today (Joshua Privett)
At the end of last week GBP/EUR rates fell sharply into the mid 1.34's with the alarming announcement that the UK construction sector had contracted by more than 4.3% in a single month, the biggest such fall in two years.
The exaggerated fall in Sterling strength was due to the more long-term implications of this data. Arguably, since the 2007/8 financial crisis, the most important factor for the value of a currency is its timeline to raise interest rates from their historic lows. This form...
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...
GBP EUR Strength – Will Rates Hit 1.15?
The pound has rallied against the Euro taking rates for GBP EUR to a high of 1.1451 today. The pound has actually seen a poor day against all of the major currencies the exception being the Euro. The pound has been supported against the Euro after positive employment and average earnings data performed well. Unemployment remains at 4.2% which sits at a 42 year low whilst average earnings overtook inflation, something the Bank of England has been very keen to see happen.
After the bank...
The Calm Before the Storm? (Matthew Vassallo)
It has been a eerily quiet day on the currency markets as anticipation builds ahead of tomorrows key release. Much has been made of the upcoming UK Gross Domestic Product figures and what the outcome will mean for the UK economy and the knock on effect it will have on the Pound.
Personally, I expect us to avoid a recession by the skin of our teeth but I don't think we will necessarily see much positive movement for GBP against the EUR. With news that Italy...
GBPEUR set to decline for the next 3 months (Dayle Littlejohn)
On Friday David Cameron managed to negotiate a deal with EU leaders which has got the ball rolling for an ‘in out’ referendum which will be held on the 23rd June.
It has been reported if the UK left the European Union, sterling’s value could drop by 20%. In addition rates for buying Euros crashed 8% when we had the Scottish referendum in 2014.
For people that need to buy Euros before the 23rd June, today is the day you should start your preparation. The volatility...
Sterling Continues to Fall, Carney to Speak Later
This morning we see Sterling’s revival on Friday against the Euro completely wiped off as we start to head to the more predicted mid 1.20’s. Mario Draghi, the President of the European Central Bank, in announcing the potential to increase the Quantative Easing has not created the weakness expected. In fact the Euro has been able to strengthen further and I think will continue to do so as the recent glut for Sterling continues.
Today we will see a speech from Mark Carney, the Governor...
The Markets Wait Ahead of Greek Repayment Deadline (Matthew Vassallo)
The markets have been fairly flat during Monday’s trading, with a small improvement for GBP against the EUR. The pair is floating just under 1.40 and with Greece’s next repayment date fast approaching, it is likely we will see additional volatility on the pair in the build up to Friday’s decision. This is when Greece has to come up with another 300m EUR to the International Monetary Fund (IMF), or face defaulting on their debts, which in turn means a likely exit from the...
