Euro Rate

[Dominic Butcher]

Pretty busy week for Sterling but some positive news for the Eurozone as both the French and German economies returned to positive growth much earlier than expected. Sterling has sunk below 1.16 for the first time in a while....

Any questions let me know; dominic@escapecurrency.com or ++44 (0)1296 339811

[Dominic Butcher]

The pound has stayed below 1.16 over the weekend and is losing some further value this morning. The rates as it stands is 1.1565. This is mainly due to the German and French economies growing by 0.3%. However, in the long term this is more than likely to actually help the UK economy. Both countries are important trade partners for the UK so an improvement in their economies is likely to have a knock on effect and benefit us.

The economic releases at the moment are causing the currency markets to stay volatile with 50-60 point movements over an hour! At Escape Currency we have loads of different options where you can place specific orders for when to buy or sell the €'s you need. This means you can set the order, relax and think about things more important. This is a great tool if you are completing in the next month or so and need a specific rate to make it affordable. 

Any questions let me know on ++44(0)1296 339811 or dominic@escapecurrency.com

[Dominic Butcher]

After the recent doom and gloom we have actually had some positive data this morning for the UK economy. The Consumer Price Index (CPI) which is a key measure of inflation in the UK unexpectedly stayed at 1.8%. Economists had expected a fall to 1.5% but inflation remained unchanged. Also, the Retails Price Index (RPI) rose from -1.6% to -1.4%, makingthis morning's news a very positive release for the £. These figures indicate an easing in the deflationary pressures that we had been previously facing.

The knock on effect of this data is that Sterling has gained 60 points against the Euro. This might not seem a lot but on a purchase of €100,000 it makes a £443.61 difference. At Escape we will keep you updated as much as possible so that we save you as much money as possible.

Any questions or queries let me know; dominic@escapecurrency.com or ++44 (0)1296 339811

[Dominic Butcher]

I hate to be the bearer of bad news but the optimism which was starting to fill me yesterday has again quickly evaporated thanks to the latest release from the Bank of England. The minutes from their latest meeting were released this morning showing a split in the committee on the further injection of money into the UK economy. The Governor and two other members actually voted for a larger increase of £75bln to the quantitative easing programme already in place. This just highlights the uncertainty over the current economic climate as nobody knows the true depth of the recession we are facing. The latest release also leaves scope for further quantitative easing in the future when we are already £25bln past the limit originally set out by the Chancellor.

This will obviously have an effect on the currency and has with a 100-point downturn since yesterday. If you are completing on property soon and need to move lump sums over to Spain limit and stop-loss orders are a must. These enable you to set target rates so even if they are only achievable for a second it will be executed automatically. Also, the stop-loss prevents you from going past a rate of exchange which makes any purchase unaffordable.

If you have any questions of just want a chat on the full range of options open to you give me a ring on ++44 (0)1296 339811 or send me a quick email; dominic@escapecurrency.com

Also, follow EscapeCurrency on twitter for up to date market news and our latest offers.....

[Dominic Butcher]

I'm sure a lot of people would have seen the latest release of data about the UK and expected a pound surge. UK retail sales did rise by 0.4% but this has overshadowed the more important data release about the UK government deficit. Public sector net borrowing rose by £8bln in July, this is the first time in 13 years that the government has had to borrow in July. The overall debt of the UK economy now stands at £801bln which is 56.1% of the economy's total output, the highest level since 1974.

Highly negative data releases such as this harm the pound and this one hasn't been any different. The pound went up to as high as 1.17+ earlier this week but has fallen back following this report. It has fallen below 1.16 again and is steadily falling close to below 1.15....

Any questions or queries just let me know, dominic@escapecurrency.com or ++44 (0)1296 339811

[Dominic Butcher]

The Institute of Chartered Accountants are predicting a 0.5% growth in the UK economy for the next quarter as confidence rose by the largest margin for 2 years. News such as this should see the pound rise against the majority of other currencies. However, the pound has stayed relatively weak against the majors such as the €. Sterling is hovering just above 1.15 at the moment as fears still remain about the sustainability of any recovery.

We have quite a few economic data releases over the coming week so hopefully we will have some more goods news to push the pound higher.

In the meantime if you have any questions let me know on ++44 (0)1296 339811 or email me at dominic@escapecurrency.com

[Dominic Butcher]

Even with the good news from yesterday the pound has continued to lose value versus its European counterpart as the single currency appreciates across the board. The rate has fallen to the mid-1.14's as positive news from the German economy has boosted the Euro. The expectation is for this to continue in the short-term so those completing soon might need to think about fixing a rate now.

Any further falls will just make the completion more and more expensive so if you have any questions just let me know on ++(0)1296 339811 or dominic@escapecurrency.com

[Dominic Butcher]

The pound has continued to slide today as news of the massive budget deficit from earlier this week continues to effect the markets. Sterling has fallen below 1.14 for the first time in weeks and is continuing to fall close to 1.13....At the moment we cant see much light at the end of the tunnel as there has been no new economic data releases which could have effected the rate like this.

If anyone has any questions or queries just let me know on ++(0)1296 339811 or dominic@escapecurrency.com

[Dominic Butcher]

The UK has had some positive data out this afternoon with house prices increasing by 1.7% from June to July which is the biggest jump since 2004 according to the Land Registry. Also, the rate of contraction in the UK economy has been revised to 0.7% rather than the originally predicted 0.8%. Both great bits of data but still no effect on the currency. The pound is staying weak as even though there is positive news, Europe has had better releases this month. The one which is really harming the pound is the fact both the French and German economies returned to growth in the last quarter.

As the pound is staying low even with having an influx of positive news in the market is a good indicator that the worst might not be over. We can fix rates for anything up to 18 months so if you complete in a month or so we can protect you from currency fluctuations.

If you have any questions or queries just let me know on ++44 (0)1296 339811 or dominic@escapecurrency.com

[Dominic Butcher]

The Eurozone's annual rate of inflation stayed negative for the third consecutive month. Prices fell by 0.2% due to cheaper energy and food prices in conjunction with a lowered demand for both businesses and households. Data such as this should harm the € for the short term at least as it does increase the risk of a deflationary spiral like that seen in Japan. However, still no major breakthrough for the £ vs € prices remain low compared to the highs we have seen over the last month. The pound is stagnant at them moment at the mid-1.13's.

If there are any questions or queries let me know on ++44 (0)1296 339811 or dominic@escapecurrency.com

[Dominic Butcher]

As the rates are staying relatively stagnant at the moment, perilously close to 1.14, I thought I better put some information on something else that might effect forum members with regards to finance.

A case which could effect 520,000 UK pensioners living abroad is being heard at the moment in the European court of Human rights. A group of pensioners has clubbed together so that the UK pension they are entitled to increases in line with inflation. At the moment many expats don't benefit from any rise in the state pension! Hopefully, some good news in the near future will soften the blow for sterling's recent downturn. For the full article go to http://news.bbc.co.uk/1/hi/business/8232612.stm

I hope thats a bit of light relief for some members but if there are any questions on the currency markets just let me know on ++44 (0)1296 339811 or dominic@escapecurrency.com 

[Dominic Butcher]

Hope everyone had a good weekend but there is some good news for a Monday morning as well. The British Chambers of Commerce has predicted a recovery for the UK economy next year to the tune of 1.1%, this is almost twice the original estimate of 0.6%. Also, it predicted for unemployment to peak at just above 3 million rather than the previous forecast of 3.2 million. This is all good news and the £ has reacted accordingly, it has started to rise above 1.14.

However, this good news has to be taken with a pinch of salt as there was a warning which came out at the same time which mentioned the high risk of a relapse. The main reason for this is the massive UK public debt which could threaten to break the back of any sustained recovery. Over the last 12 months we have seen talk of a sustained £ push, waited for it and then been shot in the foot as the rate falls back down.

A great way to prevent this is by setting limit and stop-loss orders which allow you to set target rates of exchange. If there are any questions let me know on ++44(0)1296 339811 or dominic@escapecurrency.com

[Dominic Butcher]

The £ has continued to underperform this week as it has fallen below 1.14 even though we have had a large amount of positivity in the UK economy. Consumer confidence has risen, the UK job market has started to improve and UK manufacturing has increased at its fastest rate for 18 months, but still no breakthrough! This is a good indication that the markets are still worried about the fundamental problems of public debt that are facing the UK economy.

There has been talk of a recovery for sterling for months now and considering the start of the year we have seen a 12% increase in its value it might be over for the medium term.

If there is anyone completing soon talk to us so we can make the most of your money with the best rate possible. dominic@escapecurrency.com or ++(0)1296 339811

[Dominic Butcher]

The latest news from across the Channel is that the Eurozone is exiting recession. According to the European Commission "the economy appears to be at a turning point". The £ has started to lose value on the back of this release even though talk of a UK recovery is still in the news as well. Third quarter growth forecasts are much stronger for the major European economies such as France and Germany.

News such as this is continuing to suppress the £ after last months rise making it almost impossible to predict the currency pairings trend over the next few months.

If there are any questions just let me know on ++44 (0)1296 339811 or dominic@escapecurrency.com

[Dominic Butcher]

The pound has lost even more ground this week with a wave of negative data. Inflation fell further away from the target of 2% to 1.6% with some analysts still fearing deflation which could have a catastrophic effect on the economy. On top of that unemployment rose again in the UK by 210,000 to its highest level in 14 years. The £ fell to below 1.12 this morning but has adjusted back slightly, hovering at around 1.1240. This highlights the effect of economic data on currency values, with a busy week ahead for data releases expect a turbulent week for the £!

Any questions just let me know on ++44(0)1296 339811 or dominic@escapecurrency.com