Euro weakens as Italian Government fails to form – How may this impact Euro...

The on-going political crisis in Europe has now deepened as news hit the wires over the weekend that the Five star movement and League parties had failed to come to an agreement and form a Government for Italy, heightening political instability in Italy and leading to Euro weakness. This may now pave the way for fresh elections in Italy and will more than likely lead to another long period of uncertainty not only for Italian politics but also for the Eurozone as a whole. There are...
GBPCHF Exchange Rates Reach Highest Levels Since Mid-March

Sterling Euro Exchange Rates and the Impact on Tonight’s Fed Decision (Tom Holian)

There are a number of different data releases due out this morning which will impact upon the rate to buy or sell Euros including UK unemployment data at 930am and Eurozone inflation at 10am. However, arguably the biggest data release will come in the form of tonight's US Federal Reserve decision. The chances of a US rate hike are currently poised at 78% and I think we will definitely see a rate hike as the Fed have confirmed on multiple occasions that a rate hike is data...
GBP EUR Exchange Rate: The Week Ahead November 21st

UK Unemployment Figures Fall but Sterling’s Struggle Continues

UK unemployment figures were released yesterday and showed a small drop in the three months leading up to July, compared with the previous three month period. The drop of 7,000 to 2.59 million has done little to halt GBPs worrying slide against the euro and following Germany's ruling to approve the European Stability Mechanism, things seem as if they may only get worse. It must be remembered that it was only a matter of weeks ago that we were experiencing the four year highs...
Pound to Dollar Rate Pushed Higher by Falling Covid Cases and Weak Dollar

Bad releases yesterday for GBP but gains still made against EUR

You would have expected Sterling to suffer against most majors including the Euro yesterday if you looked at it at face value. The BofE minutes were released showing even hawks Spencer Dale and Martin Weale retracted calls for a rate hike as rates were kept on hold, 9-0 against. Furthermore we saw a rise in unemployment to 7.9%. Although Sterling lost in early morning before bouncing back in the afternoon, performing particularly well against the Dollar (due to a downgrade of US growth forecasts) and...

Sterling flat despite positive words from a key Bank of England figure (Joseph Wright)

Sterling has failed to see a boost to it's value this morning despite a member of the Bank of England suggesting that its time for an interest rate hike in the UK. The member is Michael Saunders and his comments won't of come as a surprise to many after his votes to raise the rate in the last two voting meetings. The current Pound to Euro exchange rate is sitting at 1.0850 after hitting a new 8-year low earlier this week due to Brexit uncertainties. There...
GBP EUR Lower After ECB Monetary Policy Minutes

GBP EUR Strength – Will Rates Hit 1.15?

The pound has rallied against the Euro taking rates for GBP EUR to a high of 1.1451 today. The pound has actually seen a poor day against all of the major currencies the exception being the Euro. The pound has been supported against the Euro after positive employment and average earnings data performed well. Unemployment remains at 4.2% which sits at a 42 year low whilst average earnings overtook inflation, something the Bank of England has been very keen to see happen. After the bank...

Will the Pound to Euro exchange rate struggle to break through 1.18? (Joseph Wright)

It's been an interesting 24 hours for the GBP/EUR exchange rate after some key economic data releases out of both the UK and the Eurozone. The Pound to Euro exchange rate did break through 1.18 yesterday morning as investors hoped for a high inflation reading out of the UK for the month of January, but as the figure released came out below analysts expectations the Pound was sold off and almost fell below 1.17 at the inter-bank level. The reason for the fall is there is...

Macron wins but Euro remains flat against the Pound (Tom Holian)

Emmanuel Macron has been confirmed as the new President of France with a convincing win over the more controversial candidate Marine Le Pen. What make this interesting in terms of the currency markets is that this has done little to move the Euro vs the Pound and if anything we have seen GBPEUR exchange rates make gains since the start of the week. Tomorrow morning there is a host of economic data due out from Germany in the form of Industrial Production data as well as...
Pound to Dollar Rate Pushed Higher by Falling Covid Cases and Weak Dollar

A Quiet Day for GBP/EUR Exchange Rates (Matthew Vassallo)

It was a quiet day on the markets for GBP/EUR with rates holding above 1.21. The EUR has found some support around the current levels, after early week loses. The single currency had threatened to make inroads against its Sterling counterpart following Mark Carney's statement last week, where he announced that UK interest rates were likely to stay on hold for the foreseeable future. This statement seemed to dampen market expectations and the Pound dropped by almost 2 cents against the EUR. However, these loses...

Buying or Selling Euros? What will move GBPEUR today and next week?

September promises to be a very interesting month for the GBPEUR rate. Have you made provisions for exchange rate fluctuations? Doing a quick bit of forward planning now could potentially save you thousands of pounds! Today - We have had a range of smaller scale economic releases this morning. German Retail Sales dropped, but UK house prices rose, not much movement on the rate as investors lay low ahead of bigger events on the horizon. The bigger news today could be from the US this afternoon when...