Greek Debt Deal Unravelling / GBP/EUR Rates

Greek Debt Deal Thrown Into Doubt After last week’s announcement that the Greek coalition government had come to an agreement over the austerity measure needed to receive it’s next bailout package, hope seemed to be returning to the single currency. A move down towards the 1.17-1.18 region looked inevitable on the back of further poor data released in the UK, including rising unemployment figures. As we should know by now though, the currency markets over the past year have been anything but predictable and it now seems that...

GBP EUR Rates and UK Unemployment

The markets are bracing themselves for some potentially damaging UK unemployment figures this morning (due out in the next 10 minutes).  As a result sterling is currently under pressure and I expect this to continue to be the case as more UK data comes out through the month.  The economy is clearly in a bad way given the recent efforts at Quantitative Easing by the Bank of England (a clear admission that the economy will get worse without assistance) and I would imagine retail...
GBP/EUR exchange rates creep up over the course of the trading week

UK inflation figures / GBP/EUR update / Which way next for the single currency

UK inflation figures were released this morning and we saw a sharp fall in January, down to 3.6% from 4.2% in December. This drop brings CPI (Consumer Price Index) inflation to a 14 month low and whilst the government do expect inflation to continue to fall throughout 2012, the rate remains well above the Bank of England’s 2% target. The release of these figures saw some early morning Sterling strength, as it reached a high of 1.1952 against the Euro. However, this spike was short...

UK outlook changed by credit rating agency – Inflation due this morning!

The UK has had its outlook changed to negative watch rather than stable by Moodys but it has had little impact for the pound against the single currency, partly due to the fact France and Austria are suffering the same treatment, and partly due to the fact we are waiting UK inflation data this morning as well as European production and ZEW surveys.  As such I expect the sterling Euro currency pair to remain volatile- my gut instinct is a better day for sterling today, with the Euro fighting back...
GBP/EUR exchange rates creep up over the course of the trading week

Greece / GBP/EUR rates / BOE announcement

Greece – The Never Ending Story The Euro has seen gains of over half a cent on Sterling today and can be seen as a clear indicator that the markets are expecting a resolution between Greece and its private creditors sooner rather than later. This agreement should lead to a large proportion (potentially up to 50%) of the country’s debt being wiped off and may ultimately be the key factor in keeping Greece in the Eurozone and part of its single currency. The markets belief somewhat goes...

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Greek debt issues still making headlines

Greece are in continued talks with it's international lenders over the austerity measures they will have to put in place in order to be granted the next tranche of their international bailout. The Greek finance minister, Evangelos Venizelos, said that the negotiations were "so tough that as soon as one chapter closes another opens" and with German Chancellor Angela Merkel saying that "time is running out on Greece" and 2 of the largest Greek trade unions gong on strike today things are looking pretty bleak. This...
Brexit vote

Greek debt talks drag on / Which way next for GBP/EUR / Euro strength?

Talks between Greece and its private creditors will resume today, after an agreement over the country’s debt restructuring failed to reach a conclusion over the weekend. Fear is growing that Athens has not given enough guarantees, that they can implement the more severe austerity measures needed to receive the next 14.5 billion bailout package and ultimately save the country from bankruptcy. Considering the deadline for Greece to pay its next instalment is mid-March, time is fast running out for the country and their involvement in...
GBP/EUR exchange rates remain in a tight range, Sterling just about winning the week so far

Sterling Euro rate above 1.20 again – what will happen next?

GBP/EUR rates continued to fluctuate yesterday and the battle for supremacy between Sterling and the single currency showed no signs of relenting. We saw some early Euro strength, bringing levels back down below 1.20, before Sterling battled back in the afternoon and looked to be continuing that trend this morning with further gains. Investors are keenly awaiting further economic data from the UK ,which will indicate whether we are likely to be heading back into recession. Further negative growth in Q1 of this year will mean the UK is officially back in...

GBPEUR Forecast – Important Data out today and next week

This morning  09.30 – UK PMI Construction – PMI is ‘Purchasing Managers Index’ – it is a snapshot of the previous month’s economic activity in that sector. It offers the most up to date information for market sentiment and hence is closely watched. Yesterday for Manufacturing it came out better than expected and helped the pound gain close to 1% on the Euro. The current interbank rate is above 1.20 and we have been trading clients at these kind of levels. If you have a...