Euro (€) Currency Thread

inspector_monkfish

loveunit wrote: »

1.09 Euro / GBP yesterday looked really promising, I'm still waiting on changing a large sum to buy a house abroad.. my broker called all optimistic, telling me that 1.12 should be possible in the next week.. was he way off the mark?

i guess we won't know until next week

loveunit

any guesses.. I sign on Friday and would liked to have changed the money and dropped the price for an early pay off.. to offset some of my losses.. but that does not seem like such a sensible option right now?

inspector_monkfish

loveunit wrote: »

any guesses.. I sign on Friday and would liked to have changed the money and dropped the price for an early pay off.. to offset some of my losses.. but that does not seem like such a sensible option right now?

a week is a long time in fx markets!

tomorrow we have more UK retail sales figures - we know they are prob going to be bad, and prob have a negative effect on the pound

equally, there are loads of EZ news and figs out, that will prob have NO effect on the Euro, no matter how bad they might be....

you seem to be running out of time, so is it really going to make much difference if the market reaches 1.12?

i'd just do it now...

inspector_monkfish

15:12 25Mar09 Cross moves a better gauge of current Gbp sentiment

15:12 GMT - Volatile trade for the [POUND] too. This volatility has been
inspired by the thoughts of Geithner too. Through all the noise, on
balance, this week's Cable upmove still looks intact, but we do not expect
a break above the week's best of 1.4780 any time soon. Gbp/Usd has been a
better risk appetite winner, but domestic events do not support, i.e. Mar
CBI retail sales balance fell to -44 vs a -35 forecast, and clearly a
better gauge of current Gbp sentiment looks Eur/Gbp. The cross has gained
over a cent in Europe. Also note the UK dominates the European slate
until the week's close, with potential fresh Gbp weights still to come in
the form of retail sales Thurs and final Q4 GDP Fri.

inspector_monkfish

morning

touched a low of 1.066 yesterday evening
rallied back up to trade at 1.076 right now

adecor

inspector_monkfish wrote: »

a week is a long time in fx markets!

tomorrow we have more UK retail sales figures - we know they are prob going to be bad, and prob have a negative effect on the pound

equally, there are loads of EZ news and figs out, that will prob have NO effect on the Euro, no matter how bad they might be....

you seem to be running out of time, so is it really going to make much difference if the market reaches 1.12?

i'd just do it now...

I've just found this thread - don't have time to read it all now as I have to go to work:mad:

I need to do a deal of GBP57K & every cent equates to around £100. Am so mad I didn't do it on Tuesday. Do you reckon it's going to keep bombing out - as I can wait a few days if it may increase (do a chaps transfer instead). Our house is almost completely built, so it shouldn't be a problem.

Any advice would be greatfully appreciated & I am going to try and find time to read through this thread at work.

dealsearcher

I have had to swift transfer what turned out to be over £51k to pay off a mortgage in Italy. If it had been done 18 months ago it would have cost me around £14,000 less. You are not alone.

Despite forecasts I think the pound could suffer more and could reach parity with the euro. Gordon Brown seems intent on a further financial stimulus. The markets say otherwise. If he persists (a Gordon Brown trait) the results could be disastrous for the UK economy. If he backs down that could be seen as a sign of weakness by the markets. Either way he could well be causing a further fall in the UK economy and the pound.

inspector_monkfish

dealsearcher wrote: »

I have had to swift transfer what turned out to be over £51k to pay off a mortgage in Italy. If it had been done 18 months ago it would have cost me around £14,000 less. You are not alone.

Despite forecasts I think the pound could suffer more and could reach parity with the euro. Gordon Brown seems intent on a further financial stimulus. The markets say otherwise. If he persists (a Gordon Brown trait) the results could be disastrous for the UK economy. If he backs down that could be seen as a sign of weakness by the markets. Either way he could well be causing a further fall in the UK economy and the pound.

morning

Brown is backing away from further financial stimulus (see this FT article)
http://www.ft.com/cms/s/0/ac24922e-196b-11de-9d34-0000779fd2ac.html?nclick_check=1

dealsearcher

inspector_monkfish wrote: »

http://www.ft.com/cms/s/0/ac24922e-196b-11de-9d34-0000779fd2ac.html?nclick_check=1

Parity here we come!

Mind you the markets are so perverse that anything could happen.

inspector_monkfish

08:18 26Mar09 (GBP) Sentance supports King's fiscal policy stance

(GBP) UK BoE MPC member Andrew Sentance's remarks in a regional newspaper interview today should be interpreted as supporting Governor King's recent remarks on the need for the govt to cautious about going further in using discretionary measures to expand the size of the fiscal deficits. Sentance says since we do face a position where the fiscal deficit is already very large, the UK has to make sure it has a sustainable fiscal deficit over the m/t, as it is an important element for macro economic stability. This is in contrast to fellow MPC member Danny Blanchflower's stance, as he believes the govt needs to inject another GBP90bn of fiscal stimulus, targeted at jobs, to improve the economic outlook. Gilts remain under the cosh.