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GBPEUR rates continue to fall, why? (Steve)
Exchange rates have been slowly falling this week to the surprise of many. Many have the same view and question that is why can the Euro remain so strong while everyone is doing to poorly?
Well even though they are doing so poorly, we have to remember two things. Firstly that Europe is the UK’s largest trading partner so if their growth is forecasted to shrink so will the pounds. The second important point is the fact that the UK is also doing very badly. We have a shrinking economy with limited if any growth, record high unemployment, a very active QE program and an always growing debt to pay off through our borrowing. Most was covered this week in the political speeches.
This week the reason why we have seen the euro strengthen, making it more expensive for euro buyers, is due to news from Spain. Generally it was widely expected that they would need a bailout several weeks ago, remember when we were up at 1.28. Well they are making more and more steps forward to resolving the mater without an official bailout, as the likelihood of them needing one decreases the demand for the Euro mproves and hence the euro gaining. However it is worth noting that they are now on their 5th austerity package this year.
So where will exchange rates so, and when should I buy?
Well this is always a difficult decision and there is no crystal ball. All we can offer here is information about up and coming events and their forecasted results. Therefore we can make an educated decision as to when the best time to trade might be or at least the events to be aware of when entering the market. So for example next Tuesday and Wednesday we have UK unemployment, Bank of England Minutes, Retail figures and Consumer prices. These will all have an effect on the markets and as a result the price we all get. So knowing what is expected can allow you to make a “best guess” as to whether you should be before or after. My expectation is that GBPEUR rates will move by maybe as much as 3 cents in the next 7 days, making a difference of €6,000 on a £200,000 exchange.
If you would like access to this information and for us to provide a personal strategy for you feel free to ask.
If you are however concerned as to whether we can or can’t help all I would say is that what do you have to lose other than a few minutes. Here we have been helping people move money for over 12 years and simply put if we could not save you money we would not be in business.
So if you are interested feel free to contact us on the normal number or by emailing me directly at [email protected]
Thank you,
Steve Eakins
2012-10-12 22:00:14
Source: http://www.poundsterlingforecast.com/2012/10/12/gbpeur-rates-continue-to-fall-why-steve/
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