Best Euro Exchange Rates – Page 18 – Best Euro Rate Information

Forex Traders continue to buy Euros

The Pound exchange rate remains well supported by continued strength in domestic data, but has slipped back against the Euro Exchange Rate in recent days following the lack of any new easing action at the ECB meeting. Why Forex Traders continue to buy Euros is a mystery that leaves me scratching my head.

While Pound exchange Rate still has potential to gain ground against the Euro Rate in more risk positive conditions, there is little to change the picture on today’s calendar, and any Pounds to Euros gains may well have to wait for more data later in the week, with industrial production tomorrow the first data of any note.

Pounds to US dollars exchange rate getting creamed

The US employment data on Friday was slightly stronger than expected, with the small rise in the unemployment rate slightly offsetting the larger than expected rise in employment. This lead to the Pounds to US dollars exchange rate getting creamed and ending the week 150 points lower

From a bigger picture perspective, it seems likely that the employment data from the last few months has been partially weather affected, but it is far from clear that there has been a big weather effect, especially since construction jobs rose again in February.

There is little US data of significance today, but the low in the US Dollar index at 79.43 seen on Friday should now be at least a short term base, with scope to test back above 80 today.

Why do FX traders continue to Buy Euros

Pounds to Euros exchange rates graph 07-03-2014

Well A chart is worth a thousand words – sums up the Euro exchange rate against the pound this week. Argh the ECB cant see the word from the trees and Draghi preformed the Emperors New Clothes performance of a lifetime to convince the FOREX market to buy Euros despite countless evidence to do the opposite.

Sitting at my desk waiting for the US Non Farm Payrolls to take away the pain of GBPUSD not getting above 1.6800 – somehow i feel its possible especially as the Euros to US Dollar exchange rate is at 1.3900.

Forex Traders cant seem to see that the Euro Zone is a failed experiment and should be sold – but they continue to Buy Euros.

At least the weekend sees Chelsea take on Spurs and Wales can complete the pound bashing by beating England at rugby.

Have a Safe Weekend!

Australian Dollar Exchange Rate

The Pounds to Australian Dollar exchange rate is another currency that decided the pound was a bully boy and deserved a seeing to.

We started the week at 1.8800 and ending the week almost 3% lower, typical for the pound this week.

The reasons behind forex traders buying Australian Dollars was that local data surprised to the up side with a sharp increase in retail spending, strong trade surplus and extremely strong economic growth figures that will reduce the need for the RBA to cut interest rates in Australia.

The RBA has the similar risk though faced by the UK that the Australian Property market continues to overheat but the economy is still not firing on all cylinders. ( Locals cant afford to buy due to overseas buyers – just like London).

US Payrolls will drive the Forex markets today

Morning All,

After watching the pound to euros exchange rate get kicked in the nuts today we have the US payroll figures.

The Pound to US Dollar exchange rate did make me smile with it finally getting back above 1.6750, the question is can it go higher – we are hoping that cable will now have the gumption to get back to trading 1.7000 and beyond (feeling a bit like Buzz Lightyear saying that!).

So now all eyes will be on Bloomberg at 1.30pm to see what is happening in the US and the fate of the pound.

(Also we have the unemployment numbers in Canada – which could be the more interesting number.)

Happy Forex Trading

Pounds to Euro is battered

The Pounds to Euros exchange rates today got a battering after looking at heading above 1.2200 than the release of the BOE interest rate announcement followed by the ECB and delusional Super Mario Draghi talked the Euro up despite worsening fundamentals.

But not to leave the day on a low the pounds to us dollar exchange rate is again touching multi year highs and a close above 1.6750 would suggest a longer term view of a breach of 1.7000.

We might Buy some US dollars at this exchange rate for our holidays to make visiting mickey that little bit more enjoyable.

Does Draghi Love buying Euros

Does Draghi Love Buying Euros because he has talked up the Euro exchange rate so much today it is hard to believe he hasn’t taken a punt himself and needs the exchange rate to go higher.

If he has his way the pounds to euros exchange rate will be sub 1.2000 and the Euro to US dollar exchange rate above the 1.4000 level. This is madness has everyone forgotten that half of Europe’s youths don’t have jobs and no chance of moving to a home of their own!

ECB talks up Europe and the Euro exchange rate

ECB talks up Europe and the Euro exchange rate again – don’t worry about the fundamentals of high youth unemployment, falling house prices in southern Europe especially the Spanish Property Market – these things don’t matter.

The ECB predict that inflation will soar to 1.1% and that growth will be 1.2% – which is piss weak but again all that has happened on the currency markets is that forex traders have been buying Euros as it is better to be a sheep and keep your job and fat cat bonus instead of punishing a third world currency like the Euro.

argh – always thought the ECB was a three ring circus and made up of smoke and mirrors.

I’m off to the pub!

Bank of England do nothing and sit and watch

Bank of England do nothing and sit and watch at today’s interest rate meeting and take the view they don’t want to harm the humble recovery despite the recent rise in House Prices.

Whilst this is good for those with a mortgage, if you are looking to buy euros the BOE has not done us any favors.

Tomorrow is the largest economic figure in the diary is US Non Farm Payrolls (employment number). This will set the tone for Pounds to US dollars

Travel Money

We get often when is the best time to buy euros for holidays – the answer is always the same – Once you see the euro exchange rate at the rate you are happy to buy euros at!

We also get asked where is best to buy euros on the high street – that’s simple like everything else it is best to buy online and save the leg work and compare holiday money with a site like www.holidaycurrencyexchange.com as they will have the best exchange rates for the best travel money providers.

Drop us a line if you have any questions – we are here to help