A recap of Mark Carney on the Global Economy: a special event hosted by the Financial Times

A recap of Mark Carney on the Global Economy: a special event hosted by...

Sterling has weathered the afternoon after a key speech by Mark Carney on the global economy. Whilst noting the increasingly risky global conditions as a result of increased global challenges, epitomised by the Brexit and the Trade Wars, Mark Carney was confident in the Bank of England’s preparations. The pound could be in for a very rough ride ahead and Carney highlighted that on the subject of Brexit, ‘this could all go quite badly’. Sterling was marginally weaker going into the talk, testing session lows against...
Pound remains steady despite poor UK economic data - Growth figures for key Eurozone economies out later this week

Pound remains steady despite poor UK economic data – Growth figures for key Eurozone...

Sterling exchange rates remained fairly stable against the Euro in trading yesterday, despite a number of weak economic data releases during Monday's trading session. Brexit is weighing on the UK economy Yesterday virtually all UK economic data releases came out worse than expectations. We had GDP (or growth) figures, industrial and manufacturing production, trade balance and the NIESR (National Institute of Economic and Social Research) growth estimates. Every single one of these releases fell short of analysts expectations and this has caused a little concern for...
Pound to Euro rate breaches 1.14 as EU vows to work with the UK on Brexit deal

Pound to Euro rate breaches 1.14 as EU vows to work with the UK...

The Pound to Euro rate experienced quite a volatile day of trading yesterday with the pair trading over a 1 cent difference throughout the day. It was the Bank of England's first interest rate decision of the year yesterday and although the BoE opted not to make any amendments, as was the market expectation, the comments afterwards resulted in a sell-off of GBP exchange rates. What prompted the drop in the Pound's value were the comments from BoE governor Mark Carney. He stated that the...
Pound to Euro forecast: Will recession concerns weaken the Euro or is Brexit still the main exchange rate driver?

Pound to Euro forecast: Will recession concerns weaken the Euro or is Brexit still...

In today's Pound to Euro forecast I discuss yesterday's news of a slowing European economy, which may start to weight on Euro exchange rates. Italy has now officially fallen back into recession merely 5 years after the last time this happened back in 2013. During this time we saw real economic concerns for those countries named as the PIIGS of Europe, these were Portugal, Italy, Ireland, Greece and Spain. None of these countries are currently performing particularly well either, so we may well see a similar...
GBP to Euro forecast: Theresa May now in a worse position to negotiate

GBP to Euro forecast: Theresa May now in a worse position to negotiate

Theresa May lacks ammunition in talks Brexit uncertainty continues to weigh down the Pound. The Pound's recent spike against the Euro can be put down to the a brief period when the chances of a no deal scenario were low. Morgan Stanley indicated there was less than a 5% chance of a no deal Brexit situation occurring. The problem Theresa May faces is that a no deal Brexit is her only ammunition in talks with Brussels. If we go back to December, Mrs May delayed the...
Pound close to 18 month highs against the Euro but Brexit continues to dominate exchange rates

Pound close to 18 month highs against the Euro but Brexit continues to dominate...

It has been a very interesting start to the year so far with the Pound making some gains vs the Euro, hitting its highest level last week since May 2017. However, the Pound has not been able to hold on to these gains as the countdown towards when the UK is due to leave the European Union gets closer and closer. Brexit deadline gets closer and closer We are just over 7 weeks away from the deadline and at the moment things are far from sorted...
GBP/EUR rate dips as we approach the weekend, what could impact the rate next week?

GBP/EUR rate dips as we approach the weekend, what could impact the rate next...

January was a very busy week for Sterling exchange rates, as any of our readers that watch Sterling exchange rates will be aware. The Pound to Euro rate for example dropped to both its annual low as well as it's annual high during this time, after dipping as low as the 1.09's and then spiking up to 1.16 last Friday. Movement such as this makes timing transfer key, especially as GBP exchange rates are currently mostly driven by politics. Owing to Brexit, GBP exchange rates...
Pound to Euro forecast: Why buying euros now seems sensible

Pound to Euro forecast: Why buying euros now seems sensible

Over the last 30 days the pound to euro exchange rate has fluctuated just over 5 cents (4.83%). The trend for the last month has been for the pound to make gains against the euro however this week we have seen that trend reversed. Since Monday the pound has fallen from the highs of 1.1579 and now currently sit at 1.142, however even the pound has dropped in value I would buy euros now. The reason why the pound is now starting to decline against...
Pound vs Euro forecast: Sterling loses ground following Brady Amendment

Pound vs Euro forecast: Sterling loses ground following Brady Amendment

Pound vs Euro forecast: Theresa May to renegotiate Irish Backstop The Pound has lost ground against the Euro following last night's Parliamentary vote after MPs voting in favour of the Brady amendment. MPs voted through the amendment by 317 votes to 301 to pass May's deal if she can negotiate changes to the Irish backstop. Theresa May has vowed to return to Parliament with a deal to be voted on by 13th February if Brussels are willing to make concessions, this is no easy task. Yvette Cooper's...
Pound vs Euro forecast: Crucial Brexit amendments due to be voted upon today

Pound vs Euro forecast: Crucial Brexit amendments due to be voted upon today

Pound vs Euro forecast: Since the start of the year the Pound has made some significant gains against the Euro hitting the highest level to buy Euros with Pounds since mid 2017. This works out to be the difference of £4,000 on a currency transfer of €100,000, highlighting the importance of keeping up to date with what is happening on the foreign exchange markets. Pound vs Euro forecast: Brexit vote key for the Pound Brexit news continues to dominate what is happening at the moment and tonight...