busy day for Euro and the US Dollar

An all round busy day for Euro and the US Dollar!

Yesterday saw large movement’s for GBPEUR as we had highs of 1.2785 and lows of 1.2700 although this morning the rate has picked up again and leveled around 1.2750. A great time for you Buying Euros!

Today in Europe, this mornings German Retail sales came in a lot weaker than expected and caused the Euro to drop against the Pound from around 1.2735 to 1.2755 and against the US Dollar from around 1.8980 to 1.8960

An interesting read from bloomberg.com this morning ‘German unemployment fell for a third month in December to a record low, signaling that growth in Europe’s largest economy will accelerate in 2015’. Are we going to see the Euro exchange rates strengthen against the Pound in the coming months? From today’s report, Unemployment fell by around 10,000 in Eastern Germany and 17,000 in Western Germany indicating that the driver of the Euro is becoming stronger entering 2015.

Euro-zone Unemployment figures are to come out this morning, showing that the amount of jobs for people in Europe is not getting much better although it’s not getting any worse, again the weak Euro expected to get weaker.

The Italian Jobless Rate rises to a record. Just sums up Europe really, can’t get everything to be positive in one month to get the much needed gain.

A relatively quiet day for the UK today with little data to really move the markets in the Pounds favour. Tomorrow is a very busy day for the UK, with the Bank of England Interest Rates expected to come out the same as previous. May even see the Pound gain against the Euro, Again!

Pound US Dollar is at a low and looks as if it’s going to get worse before it gets better, although for those Dollar sellers a perfect time to take advantage of the one and a half year high.

Again a busy, but seeming to be a positive day for the US Dollar. This afternoon’s FED minutes looking as if we may even see the GBPUSD drop below 1.5100

EURUSD continues to weaken off becoming the weakest since the middle of 2005, currently sitting at 1.1865 GBPUSD once again continues to drop, now sitting around 1.5130 the lowest rate for over a year and a half.

Best Euros Exchange Rates Online:

GBPEUR 1.2743

GBPUSD 1.5135

EURUSD 1.1863

GBPSEK 12.024

GBPAED 5.5560

GBPAUD 1.8732

EURGBP 0.7842

GBPJPY 179.74

GBPTHB 49.777

Buying Euros – Is now the right time?

Buying Euros – Is now the right time?

Good morning,
Today’s Services and Composite PMI for Germany showed that despite of the problems within the Euro-area, not all is as bad as it seems as they came in 0.6% higher than the expected value. Although, having said that as a whole the Euro-zone dropped 0.3% from both previous and expected to 51.4 but anything above 50 is still considered as a positive.

Elsewhere in Europe this morning we have already had both the French and Italian Composite PMI for December followed by the Services PMI. The French data came in stronger than expected but little happened to the rate of the Pound to Euro. The Italian data came out weaker than expected again with little impact to the Pound Euro rate.

The UK manufacturing and construction PMIs over the last few days have both came in weaker than expected. The negativity has caused the recent decline in the Pound to Euro exchange rate from the 1.2900 we saw just before the weekend to the rate we see today, around 1.2740. The UK Services PMI becomes of some significance today after dropping to an 18 month low in October 2014 of 56.2 Since the unexpected low the PMI has only increased from 56.2 in October to 58.6 in November, hopefully the rise continues although it is expected to come in slight weaker than the previous month.

A busy day in the US!

This afternoon in the US we have the USD ISM non-manufacturing composite (Dec), expecting a slight drop, having seen the dramatic increase in November to 59.3 Economists predict it to come in around 58.0 therefore could see the much needed negative data for the US Dollar to weaken off. The Pounds to US dollar is currently sits at it’s lowest since July 2013! (1.5195) This the main market mover for today.

Also in the US this afternoon we have the Factory Orders (Nov) expecting a slight rise from -0.7 to -0.4 which could see the US Dollar gain once again across the board.
Euros to US Dollar continues to weaken off becoming the weakest since the begging of 2006, currently sitting at 1.1915 GBPUSD once again continues to drop, now sitting around 1.5195 the lowest rate for over a year and a half.

Best Foreign Exchange Rates Online:

GBPEUR 1.2756
GBPUSD 1.5195
EURUSD 1.1950
GBPSEK 12.049
GBPAED 5.5826
GBPAUD 1.8680
EURGBP 0.7836
GBPJPY 180.62
GBPTHB 49.986

Pounds to Euros at 1.2900

Pound to Euros reaches 1.2900!

US Dollar Exchange Rates

A relatively quiet day in the US today, having said that the US Dollar needs to get no stronger so hopefully the Pound will strengthen today gainst the Dollar following some potential positive UK data, currently sitting around 1.5300 US Dollar to the Pound.

Pound Exchange Rates

In the UK today we have Halifax House Prices, expecting house prices to continue to increase.

The big market mover today is going to be the PMI (Purchasing Manager Index) Construction figures. Although it is expected to come in less than the previous month, we still see it as a poitive as it sits above 50.0 Possibly seeing the Pound strengthen against the Euro once again. Will we see 1.2900 again?

Best Euros Exchange Rates

After the interview with Mario Draghi, European Central Bank President, informing us that the Euro Area faces a rising risk of deflation, the preliminary German inflation figures for December today become of some significance, although the main Euro Area inflation data is released on Wednesday.

Both the German Retail Sales for November, Month on Month and Year on Year, are providied this morning, both coming in lower than previous months, backing up Draghi with his statement of deflation.

This afternoon for the Euro we have the German CPI (Consumer Price Index),  expected to come in higher Month on Month but lower Year on Year. Inflation usually leads to a decrease in purchasing of the Euro in Germany. As Germany is the largest Euro-zone economy inflation in Germany has a large impact on the rest of the inflation numbers for the rest of the Euro.

Another story gaining more air play is will Greece leave the Euro? It is the story to watch as it could be the beginning of the end for the Euro. Could be a good reason to give buying euros a miss fro the time being and head to the safety of US Dollars

Travel-FX

ECB Buying Euros and Bonds

ECB Buying Euros and Bonds

Good morning,

Yesterday saw the Euro rate weaken off overnight on concerns that the anti-austerity opposition party Syriza will win Greek elections next month endangering the country’s bailout agreement with the EU. At close of play yesterday pound euro was trading at 1.2740 and pushed up to 1.2790 at its high before dropping off a little this morning.
The Euro fell versus all major currencies notably against the US Dollar following speculation the ECB (European Central Bank) will implement more currency-depreciating stimulus next year to revive growth!

In the UK this morning the Nationwide house price Index has revealed that prices moved 0.2% for the month of December matching economist predictions. It has also shown that house prices are up 7.2% year on year again inline with forecasts. This should provide a little support for the Pound on what is set to be another quiet day in terms of data.

Robert Gardner chief economist at Nationwide quoted, “While the pace of house-price growth has moderated in recent months, activity has slowed more sharply”. “If the economic backdrop continues to improve as we and most forecasters expect, activity in the housing market is likely to regain momentum in the months ahead”.

In the US this afternoon we have the Consumer Confidence data for December. This is an assessment of consumer sentiment regarding business conditions, employment and personal income. It tends to have some impact on market movement but not as highly regarded as other data. Tomorrow will see some key data with initial jobless claims, Chicago Purchasing Managers Index and Pending home sales.

Best Foreign Exchange Rates

GBPEUR 1.2765
GBPUSD 1.5533
EURUSD 1.2166
GBPSEK 12.168
GBPAED 5.7054
GBPAUD 1.9003
EURGBP 0.7831
GBPJPY 185.64
GBPTHB 51.097

eventful year for the Pound

What has been an eventful year for the Pound the festive period is very quiet in terms of economic data all-round therefore movement wise may be limited.

US Dollar exchange rates

The dollar hasn’t had this good a year since the Berlin Wall fell, Taylor Swift was born and the World Wide Web was conceived. The USD is set to gain against all of its 31 major counterparts in 2014 for the first time in data going back to 1989, buoyed by an improving economy and the Fed Reserves plan to raise interest rates next year.

Pound Exchange Rates

The Pound has been steady against the Euro and sits above 1.27.

Sterling finished lower for sixth consecutive week against the USD on the backend of a fairly quiet week. The only data for the Pound this week is the Nationwide house price index released tomorrow for December.

Euro Exchange Rates

We are seeing an almost sixteen month low against the US Dollar which currently sits at 1.5570.

Euro Dollar sits at a near two and a half year low currently at 1.2206 as Greece’s prime minister attempted to get his presidential candidate confirmed and avoid an early parliamentary election that could end the nation’s international lifeline. The euro headed for a sixth month of losses against the U.S. currency amid speculation the European Central Bank is moving closer to adding sovereign-bond purchases to its stimulus measures to revive inflation.

Travel-FX

Euro Dollar sits at a near two and a half year low

Euro Dollar sits at a near two and a half year low!

Good morning,

What has been an eventful year for the Pound the festive period is very quiet in terms of economic data all-round therefore movement wise may be limited.

The Pound exchange rates has been steady against the Euro and sits above 1.27. We are seeing an almost sixteen month low against the US Dollar which currently sits at 1.5570. Euro Dollar sits at a near two and a half year low currently at 1.2206 as Greece’s prime minister attempted to get his presidential candidate confirmed and avoid an early parliamentary election that could end the nation’s international lifeline. The euro rate headed for a sixth month of losses against the U.S. currency amid speculation the European Central Bank is moving closer to adding sovereign-bond purchases to its stimulus measures to revive inflation.
Sterling finished lower for sixth consecutive week against the US Dollare on the backend of a fairly quiet week. The only data for the Pound this week is the Nationwide house price index released tomorrow for December.

As for the US Dollar exchange rate, the dollar hasn’t had this good a year since the Berlin Wall fell, Taylor Swift was born and the World Wide Web was conceived. The US Dollar is set to gain against all of its 31 major counterparts in 2014 for the first time in data going back to 1989, buoyed by an improving economy and the Fed Reserves plan to raise interest rates next year.

The ruble plunged 39 percent versus the dollar this year, followed by drops of 24 percent by the Argentine peso and 19 percent by the Norwegian krone. All other currencies lost at least 1.9 percent except the Hong Kong Dollar, which is pegged to the greenback and declined 0.08 percent.
The ruble’s depreciation puts it on course for the worst year since 1998, when Russia defaulted on local debt.

Best Foreign Exchange Rates:

GBPEUR 1.2762
GBPUSD 1.5570
EURUSD 1.2197
GBPSEK 12.173
GBPAED 5.7191
GBPAUD 1.9087
EURGBP 0.7832
GBPJPY 187.41
GBPTHB 51.351

Euro data released this morning weighs on the Euro

Euro data released this morning weighs on the Euro exchange rates

Data released early this morning for the EU has showed that German private-sector growth slowed to the weakest in 18 months in December, increasing the risk that a soft phase will turn into a more pronounced economic downturn. The Euro has weakened off following this data after initially strengthening towards the end of yesterday.

Manufacturing and services in the 18-nation euro area barely expanded in December as sluggish growth in Germany and France kept business activity subdued. With France barely growing this year, Italy in recession and Germany struggling to leave a mid-year weak patch behind, the European Central Bank is readying further stimulus as governments wrangle over economic reforms. Some support for euro-area consumers may come from oil prices that have fallen more than 40 percent this year, while exporters may benefit from a weaker euro rates.

I am struggling to see a reason to buy euros at the current time as there will be better opportunities to buy euros at better rates in the coming months as the affects of quantitative easing hammers the exchange rate across the board. if you think i am wrong remember the slide in the pound from 1.2500 to 1.0100 in the space of six months when we announced QE.

So don’t go buying that house in France just yet – but if you do have to do what a mans got to do have a look at  http://www.my-french-house.com/

Later this afternoon the ECBs Nouy speaks in Paris.

Travel-FX

exporters may benefit from a weaker euro exchange rate

Exporters may benefit from a weaker euro exchange rate

Good morning,

Data released early this morning for the EU has showed that German private-sector growth slowed to the weakest in 18 months in December, increasing the risk that a soft phase will turn into a more pronounced economic downturn. The Euro has weakened off following this data after initially strengthening towards the end of yesterday.

Manufacturing and services in the 18-nation euro area barely expanded in December as sluggish growth in Germany and France kept business activity subdued. With France barely growing this year, Italy in recession and Germany struggling to leave a mid-year weak patch behind, the European Central Bank is readying further stimulus as governments wrangle over economic reforms. Some support for euro-area consumers may come from oil prices that have fallen more than 40 percent this year, while exporters may benefit from a weaker euro exchange rate.

Inflation figures released this morning revealed that UK Inflation fell to its lowest rate in more than a decade in November as tumbling oil prices pushed down transport costs and food prices dropped. Government bond yields declined. The rate of consumer-price growth declined to 1 percent, the least since 2002, from 1.3 percent in October. Inflation has been below the BOE’s 2 percent target since January, helping Carney justify keeping the benchmark rate at a record-low 0.5 percent. A drop in the inflation rate below 1 percent would force Carney to write his first public letter of explanation since he became governor in July 2013.

In the US, The Federal Reserve will look past low inflation and drop a pledge to keep interest rates near zero for a “considerable time” as it seeks an exit from the loosest monetary policy in its 100-year history, economists said. Fed officials weighing when to tighten policy are likely to focus on a jobless rate that’s fast approaching their goal for full employment, even as declining oil prices hold inflation below their target.
Later this afternoon the ECBs Nouy speaks in Paris. Tomorrow for the UK we have the unemployment figures followed by the MPC minutes for the last interest rate announcement.

Best Foreign Exchange Rates:

GBPEUR 1.2570
GBPUSD 1.5696
EURUSD 1.2485
GBPSEK 11.931
GBPAED 5.7653
GBPAUD 1.9006
EURGBP 0.7951
GBPJPY 183.21
GBPTHB 51.780

Buying Euros – Buy now or Wait?

Buying Euros – Buy now or Wait?

This week is a busy one for the UK starting with the CBI industrial trends survey for December, which provides an early indication of activity in the manufacturing sector. Over the course of the week we also have the Inflation, Retail Price Index, ONS house prices on Tuesday followed by Unemployment, MPC minutes and Retail sales figures towards the end of the week. Expect to see some Pound exchange rate movement this week!

The battle over whether to start quantitative easing in the euro region is all but won, economists say. With less than six weeks to go before the ECB’s next monetary-policy meeting, President Mario Draghi’s drive to corner dissent on more stimulus is taking on added urgency. Plunging oil prices threaten to tip the 18-nation economy into deflation, and banks are showing little appetite to use cheap central-bank cash to boost lending.

There is no data out today in Europe but in the US, industrial production unexpectedly fell in October, with the shortfall largely related to declines in mining and utilities output, while manufacturing rose. The Empire state manufacturing survey is also released today and will provide on of the first indicators of activity for December. Markets are expecting a further improvement this month in November, with the consensus expecting a smaller rise.

Best Foreign Exchange Rates:

GBPEUR 1.2642
GBPUSD 1.5711
EURUSD 1.2426
GBPSEK 11.868
GBPAED 5.7708
GBPAUD 1.9014
EURGBP 0.7908
GBPJPY 186.27
GBPTHB 51.791

Construction Figures for The UK main Focus

Construction Figures for The UK main Focus

US Dollar exchange rates

In the US the November PPI is likely to decline on the month due to lower oil prices. This is followed by the University of Michigan confidence measure for December.

Pounds to Euros

Yesterday saw the Pound push above 1.90 against the Aussie Dollar (the highest in 5 years) following overnight Australian unemployment figures. Whilst the pound continues to weaken against the US Dollar it remains attractive amongst most other currencies.

Today in the UK we have the construction figures for October. The previous output figures posted a rise and markets are expecting today’s figures to continue the trend. This would put the sector back on track to provide another positive contribution to overall GDP growth in the latest quarter.

Best Euro exchange rates

Elsewhere in Europe we have the euroarea production figures for October. A drop in the figures of 0.1% is expected! The consensus is looking for a modest rise, although recently published estimates for October industrial production in Germany, France and Italy suggest downside risks.