Buying Euro rates set for boost to compliment Carney’s continuation (Joshua Privett)
Buying Euro rates appear to have begun the week relatively well, with GBP/EUR still holding steady above 1.11 despite the speculation about the Governor of the Bank of England's, Mark Carney, continuation in his role following much discord from MP's.
MP's, particularly those who voted for a Brexit, were dissatisfied with Carney's appraisal of the UK economy as 'fragile' in the post-Brexit vote atmosphere. Many were calling him to speak about the UK with greater confidence, but this is why the Bank of England is...
GBP/EUR forecast: Pound improves against the Euro after strong UK employment data
The Pound has broken past 1.14 against the Euro during this morning's trading session after some very positive unemployment data that was published yesterday morning.
UK Employment figures showed their best levels since records have begun and this helped the Pound hit a 2 month high against the single currency, which is very good news for anyone looking to send Euros to the continent.
Combined with the positive employment data the UK showed that borrowing figures had gone up for the month of December but as...
Retail Sales Fall leads to Sterling Weakness (Tom Holian)
Sterling Euro exchange rates fell this morning following the release of lower than expected UK Retail Sales at 2.6%. Sterling has been struggling to work out which way to go against the Euro and with inflation falling earlier this week this had led to Sterling weakness as it removes the need to increase interest rates in the UK which has been one of the main reasons why Sterling hit a 2 year high against the single currency in July.
The Jackson Hole Symposium takes place tomorrow...
GBP Rates Improve on Retail Sales
Sterling has had a good start to the mornings session following positive Retail Sales figures released at 09:30. The Office for National Statistics said retails sales volumes including automotive fuel rose 0.2% last month beating forecasts for a 0.5% fall, after February's 0.9% decline. With figures being much better than expected we have seen the pound gain 0.3% this morning.
For those with an interest in Euro/dollar rates are currently at anear 18 month high, possibly a good time to trade should you need to...
Euro Ends the Year on a High Whilst Setting Itself up for an Even...
A few months ago many would not have believed that the Euro is ending 2019 with the upper hand. Despite sharp declines in the Eurozone, especially in the German economy, the Euro has managed to reverse the damage and looks to be on the mend going into 2020. Economists are suggesting that the Euro has set itself up for a better performance as we head into the New Year.
Strong Showing for the Euro in Monday’s Markets
Yesterday was a strong day for the Euro as...
A Key Week For Sterling Euro Rates Looms With The Bank Of England Minutes...
The short term future of sterling euro rates could be seriously affected by the Bank of England Minutes next week as it will give a much greater insight into what the Bank of England's policy is likely to be in the months to come, and as such, which direction the pound will go.
Recently sterling was able to gain the upper hand despite more Quantitative Easing by the BofE, as the European Central Bank cut interest rates in Europe sending the Euro downwards. The cut...
Greece still in the Limelight (Daniel Johnson)
There is growing concern with regards to Greece making their repayments. There borrowing costs have now been increased to 27%. There is now the distinct possibility of a Greek exit form the Eurozone.
The Greeks are due to pay back €1 billion in two separate payments to the International Monetary Fund next month and then a much larger payment to the European Central Bank in June. There is no guarantee they will be met.
It would be in both parties interest to come to a resolution,...
GBP EUR Rallies Strongly Following Boris Johnson Resignation
The GBP EUR exchange rate was 0.70% higher after Boris Johnson announced his resignation as Prime Minister. He clung to the job on Wednesday despite 40 resignations from ministers and aides, but Tory party members intervened. The pound sterling saw its strongest weekly rally since February as the confusion and uncertainty over his future cleared up.
EU energy ministers will attend an emergency meeting later in July to discuss a potential energy supply crisis plan for winter.
The GBP to EUR moved to 1.1778, which should...
Pound drops lower once again as interest rate hikes suffer setback and Euro gains...
GBP/EUR exchange rates have dropped to the lowest point we have seen since since the U.S elections back in November, which is due to two reasons we saw yesterday.
Firstly, we had two members of the Bank of England speaking during the course of yesterday afternoon and both of those members dampened expectations of a U.K interest rate hike happening in the near term, which led to the Pound losing further ground against the Euro and most major currencies too.
An interest rate hike is generally...
Pound to Euro Rate: GBPEUR Rises to Three-Week Interbank Highs
The pound has battled its way back against the euro, rising to a three-week high on Friday morning of 1.1439 on the interbank exchange rate. This fresh high was ultimately short-lived with sterling losing ground against the single currency following the release of the latest UK Services PMI data that same morning, which showed the lowest level of activity in this sector since records began.
The reading of 34.5, on a measure where anything below 50 represents a contraction, was of concern to the markets...
