Showing posts from September, 2013

How to get the best exchange rate buying or selling Euros

Wednesday 25th September 2013
Good afternoon. The currency markets have been fairly calm recently, and exchange rates seem to have stabilised. We haven't seen a huge amount of movement since my last post. GBP/EUR rates remain around the €1.19 level, and GBP/USD rates just above $1.60.

In today's post I will look at economic statistics that will be released in the next week, and how they may affect exchange rates. I will also explain how I can help you achieve exchange rates that can be much better than those offered by banks and other financial institutions.

So if you need to buy Euros at the best rate, have a foreign currency you need to convert back to Sterling, are looking for the best exchange rates, or are trying to find out if the Pound will go up or down against the Euro, read on...

Pound/Euro forecast 2013

In the last few months the Pound/Euro rate has climbed nicely, peaking a few weeks ago in the mid €1.19's. This is due to much better economic data that indicate th…

Pound falls after poor UK Retail Sales.

Thursday 19th September 2013
Good afternoon. Since my last post, we’ve seen quite a bit of volatility in the currency markets. I mentioned a few days ago that the markets had been flat, and that I predicted the Bank of England (BOE) minutes and UK Retail Sales would probably cause some movements in the value of the Pound/Euro rate, and indeed they did. We have also seen some news from the US Federal Reserve that has caused a big change in GBP/USD rates.

So let’s take a look at what’s been happening…

Bank of England minutes push the Pound higher

Yesterday we saw that the Bank of England has upgraded its growth forecast for the UK economy when they released the latest minutes from their Monetary Policy Committee. You can read the minutes here if you so wish!

The minutes show that third-quarter growth is expected to be 0.7%, up from 0.5%. The minutes also show that the MPC voted unanimously to keep interest rates and quantitative easing (QE) on hold this month.

It had a big impact on th…

Pound remains at €1.19 vs Euro, near 8 month high

Tuesday 17th September 2013 
Good afternoon. Sterling remains strong, however has failed to rise significantly above the €1.19 level against the Euro. GBP/EUR rates remain around the best since January. The Pound has however hit an 8 month high against the US Dollar after Lawrence Summers, perceived by the market as more likely to favour a quick scaling back of monetary stimulus, pulled out from the race to be the next Fed chief. So in today’s report: 

UK inflation drops weakening Pound Pound/Euro remains close to best it’s been since January US Fed member drops out of race to be FED chief, weakening US Dollar German Economic figures better than expected, weakening Euro. UK Retail Sales and BoE Minutes this week expected to affect Pound How to get the best exchange rates 
UK inflation drops weakening Pound 

Figures this morning showed a slight fall in inflation, which has pulled the Pound lower. Inflation measured by the consumer prices index (CPI) fell to 2.7% in the year to August, fr…

Will the Pound get higher against the Euro?

Tuesday 10th September 2013
Good afternoon. Since my post last week, the Pound continued to rise, however now seems to have hit the peak and we haven't seen further gains. In today's post I'll have a look at recent economic data, how it's affected exchange rates, and what to look out for in the next week that is likely to move the currency markets. In today's report:

Pound fails to break through €1.19 levelUK economy is turning the cornerUS jobs data disappoints, sending GBP/USD higherUpcoming data that might push rates higher or lower
Has Pound/Euro peaked or will it go higher? 

The last few months have been good for the Pound, with lots of good economic data giving Sterling strength, and help exchange rates recover close to where they were back in January. At the end of last week the GBP/EUR rate peaked at just over €1.19.

Since then things seem to have stabilised. We saw rates slip away to €1.18 yesterday, and today we have seen a mild recovery to €1.1850 against the…

Pound/Euro at 3 month high: (September forecast)

Monday 2nd September 2013 
Good afternoon. It’s been a good start to September for Sterling, with further strong economic numbers giving the Pound a boost to its highest against the Euro in 3 months. In today’s post I will take a look at the recent good run for the Pound, and also whether exchange rates will go up or down in the coming weeks and months. 

I will also look at UK growth forecasts, the effect the new Bank of England governor has had, and also how any strike on Syria might affect the currency markets. So in today’s report: 
UK Manufacturing lifts Sterling. Pound/Euro rates at a 3 month high UK growth forecasts looking good UK and EU Interest RatesHow military action in Syria could affect exchange rates 
UK manufacturing lifts GBP/EUR to a 3 month high 

UK manufacturing has continued to grow, and is now ‘booming’ according to a survey by the British Chamber of Commerce. The sector has seen its strongest growth in activity for over 2 years, and has now seen 5 consecutive months o…