Pound exchange rates up following positive Brexit news

GBPEUR rates (Steve Eakins)

The cost of buying euros this week has fallen giving opportunities for sellers.  The reason why is the deteriorating view on the UK economy as figures have continually disappointed investors this week.  The two main releases were of a dramatic fall in UK retail figures and a large drop in the forecast for growth in the UK by the Bank of England. At the end of of October I actually predicted the contract : “Data this month has been great for the pound but most have...

Eurozone in a recession again (Steve Eakins)

Data today from Europe showed that the single state’s economy shrank for two continues quarters for the first time in 3 years . Meaning the Eurozone is in a recession once more.  Many clients of ours are scratching their heads though as today the euro has strengthened against both sterling and the dollar.  The main reason behind this is that other news has been released that have been more surprising including bad news from the UK economy and worries with regards to the US fiscal...

Eurozone in Recession – GBPEUR rates stabilise (Jonathan)

The market has dipped quite comfortably back below the magic 1.25 level as the Bank of England cut their growth forecast and the Euro found favour following successful bond auctions for Germany and Italy. Retail Sales for the UK came out worse than expected which also increased pressure on the pound. For the time being it is difficult to see where a revival towards the 1.25 mark will stem from. However I am of the opinion it will do so. The current outlook in Europe...
Pound Sterling Forecast – Will the Pound Weaken Ahead?

Get the best from your foreign exchange

Whether you are buying or selling Euros it is important to get the right assistance when making your decision. Through the use of  a specialist foreign exchange broker you can save thousands on your money transfer when compared to the high street banks, take a look at our main website www.currencies.co.uk to find out more. What data to watch out for the week? Starting tomorrow we have both the EU and UK CPI (Consumer Price Index) data released at 09:00 and 09:30 respectively - both reflect...
Euro Suffers Losses to a Strong US Dollar and a Resilient Pound Sterling

Greek bailout delayed (Steve Eakins)

Following the late vote earlier this week by the Greek parliament for additional cuts, the expectation was that the European Central Bank would simply release the next tranche of funding, however this has not been the case.  The central bank came out saying that it would wait until the next report on how well the Greek economy is doing and the savings that have been made before allowing the payment to be released.  The report they mentioned is due at the end of the month...
Pound to Euro Exchange Rate: Euro Looks to Edge Over GBP as Coronavirus Ups the Pressure on Sterling

Small Gains for the Euro Following Poor UK Construction Data

The euro has made some small gains against the Pound during Friday's trading, following the release of poor UK contruction figures. Construction activity fell 13.1% in September compared to a year earlier and is another reminder that the UK economy still has some way to go before it is truly on the road to recovery. Yes, we were given a welcome boost following the positive Gross Domestic Product (GDP) figures but since then we have seen poor service, manufacturing and now construction figures and...
The Pound Continues Its Fightback

Trade Balance figures will be a focus for the UK today (Jonny Watson)

Trade Balance is the difference between imports and exports for a country. It is a good indicator of the performance of an economy. If there is a surplus it means more money is coming into the country than leaving and hence gives the economy more strength. The UK has been running a trade deficit for many years so we know it will be negative. Quite importantly the UK's trade deficit has been increasing over the last few months and is expected to here. It will...
GBP/EUR exchange rates creep up over the course of the trading week

No change in interest rates in the UK or Eurozone (Stephen Hughes)

Today, the Bank of England announced that it has kept the interest rate at 0.5%. It also revealed that it will not yet be increasing QE from the current level of £375bn. As Sterling typically responds to constancy, we expect to see a rise against many of the major currencies following the Bank of England’s decision to hold the current interest rate at 0.5%. Yet more significantly for Sterling, the Bank of England revealed that it still has no plans to increase QE, which should provide...
Pound Sterling Forecast – Will the Pound Weaken Ahead?

Greek austerity helps the euro (Steve Eakins)

After another few weeks of concerns that Greece will fail to hit budget reform targets, another vote took place last night.  The strikes and riots that also took place as a result were some of the most violent that we have seen.  Many have commented that it is surprising to think that there are any more austerity cuts that can be made in Greece, but by a slim margin a new round of cuts were voted in by parliament.  This most recent round authorises...
Pound to Euro Exchange Rate Ahead of UK Manufacturing and Services Data

GBP/EUR rates hit one month high (Alistair)

Sterling rose to a one month high against the Euro yesterday, with rates rising to 1.2534. Weaker than expected German industrial output and decreased growth forecasts from the EU commission had a negative effect on the Euro with European Central Bank president Mario Draghis  statement saying that the bank expected the Euro zone economy to remain weak in the short term also being a large factor in the euro falling to its lowest level since October 1st. This statement decreased investors confidence in the Euro and forced...