GBPEUR rate remains steady as markets await the Autumn Budget

GBP/EUR Rates Touching 1.25 = Great Buying Opportunities But Concerns Continue Over Benefit to...

GBP/EUR rates touched past 1.25 today before quickly retreating back to the mid 1.24’s at time of writing. The spike may well of come about following yesterday’s BOE (Bank of England) meeting, as I feel the markets were anticipating talk of another round of Quantitative Easing, which in the end never came about. This assumption may well of been based on the fact the UK is officially back in recession, although as written in my previous report, this figure could well be revised up...
GBPEUR rate remains steady as markets await the Autumn Budget

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PMI Service Data and Unemployment Predictions Keeps Pressure on UK Economy

Yesterday UK PMI (Purchasing Managers Index) Service figures were released and made for fairly grim reading. They showed a contraction down from 55.3 last month, to 53.3 this month. This set of data is considered key for the UK, as the services sector makes up two thirds of the UK’s economic output. This proves that whilst Europe does seem to be suffering on a grander scale, the UK still has a long way to go until it returns to economic stability. There was further bad...

Spanish Double-Dip Recession a Boost for the Pound

Spain officially slipped back into recession yesterday as their most recent set of GDP figures announced that their economy had contracted by 0.3% in the first quarter of 2012. In addition to this Spanish retail sales fell by 13% and unemployment hit a staggering 24.4%. Spain's second period of recession is the latest significant headache for the Eurozone following the PIIGS needing financial assistance throughout most of 2011 and Greece's repeated bailout packages in the latter part of 2011 into 2012. Unfortunately it doesn’t seem to be...
Pound to Euro rate Could next month's Brexit deadlines result in some volatility for GBPEUR rates?

The Slide of the Single Currency

As the week draws to a close the markets are left to reflect on what has been described by many as the beginning of the end for the Eurozone and its single currency. As financial Armageddon bears down on the Spanish economy and investors run for cover, I have to ask myself which twist this Greek tragedy will take next. In fact, it is now probably better described as the sinking of the Spanish armada and any default by Spain would not only cripple the country’s economy but ensure contagion...
Pound to Euro exchange rates: Could we be headed for a no deal Brexit?

Good GBP Euro Exchange Rate Despite Recession In UK

Despite the UK being officially back in recession this week, sterling euro rates are still the highest we have seen since 2010 (and close to levels last seen in 2008).  Whilst the pound did drop very sharply on Wednesday following the ONS announcement that the UK is back in recession and the worst was feared for the short term future of the pound, it has since rallied back due to a combination of factors. Firstly the original expectation was that the UK would avoid recession...

UK in recession…..a reaction?

After the initial shock following yesterday’s announcement from the Office of National Statistics that the UK is officially back in recession, where we saw the Pound quickly lose around 0.5% against most major currencies, Sterling seems to have recovered quite pretty well starting the day only half a cent away from the recent 20 month high against the Euro and just touching 1.62 ( a 6 month high) against the US Dollar. In my mind the reason for the Pounds continued strength could be one...
GBP/EUR exchange rates remain in a tight range, Sterling just about winning the week so far

GBPEUR at 20 month high

The Pound hit a 20 month high against the Euro yesterday following the Bank of England's minutes which suggested that the likelihood of further Quantitative Easing being used to stimulate economic growth in the UK is diminishing. This, combined with an unexpected drop in unemployment numbers led to the Pound spiking to within a cent of the highest levels seen since the Summer of 2010 (now doesn’t that seem like a lifetime ago!!). At times like this human nature often gets the better of us and...
Pound to Euro exchange rates GBPEUR falls to 2 year lows when could rates recover?

1.22 on the markets!!!

GBP/EUR levels have today pushed through the 1.22 barrier, which up until now had provided huge market resistance. We are currently trading near the dizzy heights of a 20 month high, with the Interbank rate touching 1.2233 at its highest point today. This seemed be triggered after this morning’s UK unemployment figures were released and came in better than expected (unemployment fell by 35,000 to 8.3%). This represents the lowest figure since the summer of 2011 and provide further evidence that the UK is...