GBPEURO rates continue to fall as June 23rd referendum approaches…

GBPEURO rates have continued to decline in the last week as the leave campaign takes a tentative lead in the polls.

Euro buyers may have already missed the boat if hoping for higher rates as the vote closes in, 6 cents have already been wiped out since market levels rose to 1.30 less than seven days ago.

My expectations would be for further Sterling weakness as investors look to more secure currencies to invest in before the 23rd.

The Dollar has also seen recent strength in the last 24 hours seeing a loss of 2 cents against the pound.

In my opinion positive UK data will on the whole have little impact on rates at the moment as polls and surveys take precedent on affecting GBPEURO rates.

Tuesday may present the best opportunity of next week for Euro buyers if UK output figures show favorable levels. Even this is unlikely as the UK economy slows down as demand falls on the run up to the referendum.

My advise to my clients would be to act sooner rather than later if you require currency in the next 4-6 weeks.

On the flip side those that have been holding on to currency are being presented some great levels to convert back into sterling presently.

As usual our buy rates are high street beating so if you need a quote on selling your leftover currency feel free to drop me a message at accounts@currencydeals4u.co.uk or alternatively customers can use our contact form on the website.

4 weeks till the big vote! Currency Markets entering choppy waters…

With less than a month to go before the European Referendum vote currency markets have already seen Sterling strength against most currencies as the “Remain” camp takes the lead in the polls with backing from big institutions such as the Bank Of England and leading banks and industry across the country. Rates have pushed up to 1.32 Market before dropping back slightly ahead of the bank holiday.

Next week the first major data release that will affect the GBPEURO rate will the European Consumer Price Index. Any improvement will likely see the Euro rally some of its lost ground back against the pound making current rates appealing in the short term for Euro buyers.

The other big data day next week will be Thursday that sees the ECB interest Rate Decision, ECB deposit rate decision, ECB Monetary policy statement and its following press conference. With the European Central Banks stimulus program struggling to have a positive effect I feel unless major changes are announced we will see the Euro weaken further against the pound.

In my personal opinion I feel that next week will present a few choice spikes for Euro buyers and will probably present the best levels for the next 4 weeks. I expect Sterling to lose ground as we approach the big vote and advise my clients if you are traveling in June you should be moving soon to secure your currency.

With European economy worries and Referendum news trading off against each other over the next 4 weeks expect much volatility in the markets to come!

 

 

Sterling makes sharp gains following a strong day of trading yesterday!

The Pound sterling made a significant jump in strength following much needed positive figures for UK employment and wages yesterday. This has seen a big jump on Euro and Dollar buying rates presenting some of the best opportunities to purchase in the last few months.

Today sees the release of the Eurozone’s Monetary Policy Meeting minutes at midday and the general consensus among analysts and market watchers is that a positive outlook for growth, employment and investment is to be expected. Already outside investment into the Eurozone is ramping up aggressively providing much needed support for the embattled single currency.

Given this likely outlook I expect the Euro to rally back against the Pound damping down these recent highs by the weekend.

With the upcoming referendum creating further volatility in the markets the current rates for buying are looking good especially if you are travelling shortly.

As usual we provide High street beating rates all year round so get in contact today and secure yourself a great deal on your holiday money!

All eyes on Bank of England (BOE) UK Inflation and Growth forecasts today.

One of the largest data announcements to affect currency markets this week will be today’s Bank of England (BOE) UK Inflation and Growth forecast at midday UK time.

Dubbed by some analysts as “Super Thursday” this outlines growth expectations for the next year. Expectation is a cut from 2.2% to 2%. As for the inflation rate forecast rates have remained unchanged for some time but with a weakening economy (growth slowing sharply, poor service sector data and a slow down in wage increases) the time has come in my opinion for interest rates to be cut.

My outlook for the rest of the week is based on to outcomes.

  1. Mark Carney throws his wait behind the remain campaign today, if this happens we should see a modest increase in the Pound to Euro rates if only for the short term.
  2. Growth outlook is worse than expected and the BOE remains fairly neutral towards the referendum then we should see a drop in the pounds value.

I will endeavour to keep all my readers updated as “Brexit” and other economic issues affecting the currency markets continue to develop.

As usual for great high street beating rates on buying and selling currency keep it with CurrencyDeals4U.

 

May’s Expectations

April proved to be quite a volatile month for the Pound Sterling. Large gains occurred against the Euro before slipping on the final day of the month. The US Dollar on the other hand has lost value as April closed and now represents the best value for money in quite a few weeks.

So looking ahead for this Month the “Brexit” debate has swung towards the remain camp since President Obama’s comments in London in the final week of April. Though any further upset and swings towards the leave camp is likely to cause further volatility against the single currency.

The leave camp has been unusually quiet since Obama’s visit and I think we will see them becoming very active this Month.

Lingering Eurozone debts including but not limited to Greece’s economic troubles surfacing could cause some good opportunities for Euro buyers as we move forward.

My personal prediction is a gradual continued weakening of the pound as we approach the referendum in June punctuated by spikes as political comments move the markets one way or the other.

Keep a close eye on our blogs and rates this month if you have an upcoming holiday in the next 6-8 weeks!!

 

 

“Brexit” and its effect on the markets…

The EU Referendum on the 23rd June is growing closer and the media is picking up more and more coverage before the big event. This is already having an effect on the pound sterling with some fairly volatile moves as news comes out of both the in and out camps.

Current polls suggest the “out” campaign is slightly over the halfway line at 52%. This is certainly holding back the GBP to EURO rate at the moment and in my opinion we will likely see further losses as we approach the crucial vote.

The IMF has recently warned of a global economic impact should the UK leave the European Union and I fully agree with them. Should the UK leave there is a high probability we could see parity between the Pound and the Euro, this is also reflected by a recent statement from HSBC after a raft of other major corporations warned of the fallout to come from an exit.

So even though we were seeing levels of 1.40 6 months ago we are unlikely to be seeing these again for a fair while time to come. Today the GBPEUR rate is sitting around 1.26 and although this doesn’t sound great this may become a new high going forward.

If you have a holiday coming up before June 23rd it may be worth buying your currency now before rates slide further. I will be providing updates as we draw closer to the vote on which way its looking likely to go. This will inevitable make a huge difference to future rates.

So for high street beating rates feel free to inquire today to see what deal you can get for your money at help@currencydeals4u.co.uk.

Matthew Sinclair

Euro continues to find support against the Pound Sterling!!

German inflation data came out stronger than expected today providing further support for the Euro and pushing the market level down below 1.26.

Coupled with revised UK GDP figures and continuing poor Retail sector sales I think a further drop for Sterling is on the cards.

So if you need to secure a great currency rate today please feel free to order using our newly launched website. We offer great rates on all currencies including improved rates for higher amounts. We now offer a buyback guarantee service that allows you to secure the same rate as when you ordered for 30% of your leftover currency for just £3.

With an ever expanding selection of stores to choose from and bank beating rates CurrencyDeals4U is the only foreign exchange provider you will need.

For more information please feel free to contact us using the form provided on the website.

Matthew Sinclair

New Website Launch!!

Welcome to our new website!!!

Welcome everyone to our new online reserve and collect currency website! We offer the best rates on buying and selling currency across Essex.

I have been working in the foreign exchange sector for the last 8 years and frequently get asked by my clients questions such as…

Whats the Euro rate going to do next?

Is it a good time to get my currency?

Is it the best time to get my travel money?

In these future blogs I will attempt to give you my market analysis and opinion on everything FX related using the most up to date market information available to help you make an informed decision when it comes to purchasing your currency. Whilst nothing is ever guaranteed in the world of foreign exchange i hope you will find the information useful when making your purchases.

So for great rates whether the markets are low or high, keep it with CurrencyDeals4U. Relax look forward to your holiday and let us take care of your travel money.

Matthew Sinclair

Director CurrencyDeals4U