GBP EUR Exchange Rate: Weekly Review July 16  

GBP/EUR Rates Up Following UK Manufacturing Data (Matthew Vassallo)

GBP/EUR rates spiked back up through 1.25 during Tuesday’s trading, following better than expected UK manufacturing data released this morning. Figures came in above expectation at 57.5 and immediately we saw GBP spike against the single currency, moving comfortably back above 1.25 on the exchange. With further PMI data out for the UK tomorrow and Thursday, we could see the Pound’s momentum continue up through 1.2550. Key economic data for the Eurozone includes tomorrows GDP figures and Thursday’s European central Bank (ECB) interest rate decision....
GBPEUR Levels Back Near the Recent Highs as Investor Concerns on the Euro Heighten

Record Retail Sales give MASSIVE BOOST FOR STERLING (Tom Holian)

Wow! The UK Retail Sales figures out this morning have been incredible!!! The expectation was for 2.6% growth year on year but the data shows 5.3%. Month on month retail sales were 2.6% as opposed to 0.4%. With such a difference this has sent Sterling rocketing this morning not only against the Euro but all across the board. Sterling Euro exchange rates have broken through 1.20 and with European construction  data due out at 10am I expect further Sterling strengthening. It is rare on the currency...
Pound to Euro Rate: GBP Falls on Virus Fears and Manufacturing Data as EUR Rallies

Progress in Greek Reforms! (Daniel Johnson)

The French have announced there has been significant progress in Greek Reforms. Although details are scarce, we have seen the Euro rally against Sterling this morning. Further clarification on said progress could cause further Sterling decline. My view is that stone walling from the Eurozone members and Greece will end. The question is when. It is in the benefit of both Greece and the members of the Eurozone to come to an agreement. An exit for Greece would be catastrophic for their economy. For those...

Sterling Gathers Strength (Daniel Johnson)

Today saw Sterling hit 1.3850 against the Euro.  This was caused by Mario Draghi the head of the ECB (European Central Bank) speech this afternoon. With Greece's debt renegotiation being brushed under the carpet all eyes were on the ECB's inflation forecast. Quantitative Easing (QE) will come into play on Monday in an attempt to stimulate growth. However, Draghi  has dropped the inflation forecast from  0.7% to zero for 2015. This was the cause for the spike in Sterling value.  Clearly Draghi is trying to...

Pound Falls After Weak Retail Figures (Colm Gilhooly)

The pound has taken a hit this morning after retail sales figures came in below expectations and are another sign that the UK economy isn't picking up quite as quickly as people forecast it would a few months ago.  The Bank of England minutes yesterday haven't helped improve the situation, so it will be interesting to see how UK GDP figures come out tomorrow.  If these aren't particularly robust we could see sterling slip back a couple of levels as confidence is shaken. If you...

Pound Euro drops as Spain consider bailout once again – Interest rate decisions tomorrow...

Far from surprisingly, Spain is reported to be ready to  accept a Euro zone bailout in the coming few weeks, although Germany is trying to slow things down. Spain  had appeared to be stalling over these last few weeks but this has all happened so quickly that a bailout could happen as soon as next weekend. There  is now a great deal of uncertainty as to how and when aid for Spain will come  and whether it will be a bailout or not. With this very big unknown...

Tomorrow to be key for Sterling – Euro exchange rates

Tomorrow we see both the quarterly inflation report for the U.K and Governor of the Bank of England Mark Carney speaking both at around 10:30am. Personally I feel that this could be extremely important for the value of Sterling in the coming days and weeks and the main talking point will be comments regarding forward guidance, both on any future interest rate changes and also if there are any plans regarding the U.K housing market or inflation. At present, the stance appears to be that we...

How to time a currency transfer – GBPEUR

Pound Euro exchange rates are driven by a number of impacts on the markets. The most easy to follow and depend on are economic data releases, there are about 30 of these released each month and any change to these can have a large impact on market demand and therefore value. Now the market knows when these releases are scheduled to be released and will have an expectation on what will be shown. In the build-up to the release the market will therefore price...
GBP EUR Recovers from Early Losses on EU Trade

Sterling continues to slide against the Euro: Will the Pound fall below 1.10?

The pound to euro rate is now on a 10 week losing streak as the markets await the result of the Conservative party leadership contest and the next movements once the UK has a new Prime Minister in place. No Deal Brexit: Is it a likely to happen? With the chance of a 'no deal' Brexit seemingly increasing over the past few weeks the pound really has started to struggle against all major currencies, most notably hitting a 27 month low against the dollar and closing...
Pound to Euro Rate: GBP Falls on Virus Fears and Manufacturing Data as EUR Rallies

Pound continues losses against the Euro – levels nearing 1.22

The pound has continued its recent poor run against the Euro falling to 1.2250 losing nearly half a cent against the single currency. Rates have now fallen nearly 5% since the end of July and may well continue in the run up to next months Bank of England interest rate meeting scheduled for the 8th November. At the meeting there is a real chance that Mervyn King will introduce up to another £50bn through its asset purchasing program quantitative easing. Yes you could argue that...