GBPEUR back to 1.18’s
The bad Retail Sales figures this morning confirmed what many already knew, that the GBPEUR rate would be very susceptible to poor UK news. The rate never looked too likely to continue to improve and the German elections this weekend are bound to weaken the rates further in my opinion.
If you need to move GBPEUR funds we can help get the best deals, over and above that offered by banks and other brokers. It is all to do with the volumes of currency we...
Greece Bailout Sorted? Euro Strengthening – Andrew Bromley
GBP EUR rates have opened at a week low, as rumours circulate of the 'beginning of the end of the Greek Debt crisis'. It is understood that German Chancellor Angela Merkel held an emergency conference call last night, perhaps in preparation of Fridays loan repayment of €310M. A potential reduction in the loan payment (down to circa €100m) could be the first positive signs for the Greek economy, meaning that there would be less of a scramble to 'pillage' the local governments for cash.
Although I believe...
Where Next for GBP/EUR Exchange Rates? (Matthew Vassallo)
Following the recent positive move for GBP against its EUR counterpart, many are questioning whether it is just a matter of time until we see 1.20 on the pair. Whilst UK economic data has certainly improved, we are not yet out of the woods and for this reason I am wary about assuming the current positivity surrounding the UK will continue and without this momentum the Pound may struggle to move much higher.
It is important to remember that Bank of England governor Mark Carney...
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...
GBPEUR Exchange Rate Update (Tom Holian)
During both May and June Sterling vs Euro exchange rates have remained range bound between approx 1.15-1.18 as the markets wait to see what new Governor of the Bank of England Mark Carney may do with interest rates and QE at this Thursday's Bank of England meeting. As a character he is in favour of keeping interest rates low as shown by his tenure in Canada previously. However, all eyes will be on whether there may be any plans to print more money in...
Major Volatility on the back of U.S Fed News
The Sterling Euro rate this morning has already moved a 1% in a few hours. The Eurogroup which is attended by the Head of the Bank and the Finance Minister of each member state will meet today and may give some indication to the future plans. Greece is one of the topics today as the debt there has not reduced and the method to re-cooperate their loans will be discussed.
Yesterday Janet Yellen who is head of the Federal Reserve in America suggested that despite...
Sterling Rises Following First Revison UK GDP Figures
Sterling has performed well against its euro counterpart during Tuesday's trading, following the first revison of the UK's recent Gross Domestic Product (GDP) figures. These figures were expected to show that the UK economy grew by 0.9% during Q3 of this year. They actually came in slightly better than expected at 1%, which could be a major factor behind today's positive movement.
An increase in consumer spending, the highest figure in two years along with the 'Olympic effect', were seen as key reasons for this economic growth and by close of European trading GBP...
Sterling rises as negotiations begin, but will the Pound to Euro rate continue to...
The Pound has edged up today against the Euro as well as against other major currency pairs, making the buying of oversea's currencies a cheaper proposition than yesterday.
The reason behind the positive movements for the Pound can be put down to the latest updates regarding the Brexit process. It appears that the early stages of the Brexit negotiations are going quite well, which has boosted sentiment surrounding the UK economy moving forward and therefore the Pounds value.
I think that moving forward if the negotiations...
What will move GBPEUR this week?
GBPEUR rates have slipped ahead of the Fed meeting this evening which could easily see the pound lower against the Euro tomorrow. Many analysts predict the US dollar will strengthen and the Euro will weaken but with much of this expectation priced into current rates I think that it is unlikely the Euro will weaken too much. Personally I think the US dollar could actually weaken a little which would strengthen the Euro.
Other news tomorrow is the latest information on the Eurozone Inflation report...
GBPEUR rises back above 1.13, where next?
The pound to Euro exchange rate is now looking much more attractive for Euro buyers although there are some fairly large warning signs ahead. The EU Summit next week has plenty of potential to be an upset for the pound as we already know much of the news to be expected. There is a real belief that the pound will now rise on the news of a transitional deal however, maybe this has already happened?
Exchange rates usually move when there is new news or...
