Euro (€) Currency Thread

inspector_monkfish

markets trading at 1.1345

inspector_monkfish

nice thread
http://forums.moneysavingexpert.com/showthread.html?p=21655073#post21655073

inspector_monkfish

15:21 18May09 EUR/GBP: Consolidating Losses, UK Inflation Data Tomorrow

[14:21 EUR/GBP: Consolidating Losses, UK Inflation Data Tomorrow] London, May 18.

EUR/GBP is currently trading a quarter-penny above 0.8800 (a formerly touted bear target) as it consolidates losses from an early Europe high of 0.8892. The decline from 0.8892, to an 11-day low of 0.8808, was aided by EUR/GBP selling from US and Swiss banks and a UK clearer.

Sub-figure bear targets include 0.8765 (May 7, 10-week low) and 0.8726 (Feb 24 low). 0.8637 marks the 2009 low (Feb 10). 0.6700 was the average traded level through the first 10 years of the euro (1 Jan 1999-31 Dec 2008).

A US bank"s chief UK economist has calculated that every GBP 25bn spent via the BoE"s "Quantitative Easing" Asset Purchase Programme is the equivalent of an approximate 0.6% cut in UK interest rates, and that the effective UK interest rate will be minus 2.5% by the time the BoE"s GBP 125bn APP is completed by late July (Sunday Telegraph, B2). Minutes from the May 6/7 MPC meeting, at which the BoE upped the size of its APP by GBP 50bn from GBP 75bn, will be published on Wednesday.

UK inflation figures for April will be unveiled at 08:30GMT tomorrow (Tuesday). Annualized CPI is forecast to fall to 2.4%, from 2.9% in March. The BoE"s CPI target level is 2.0%.




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now trading at 1.1335 (0.8822)

TuftyMatt

Well that was a strong start to the week.

Lets hope for 1.14 at some stage in the next 4 days and then I think the pound can have a good Summer and show it's been punished much too hard in recent months.

[Deleted User]

Hi Guys, I know similar things have been posted before but.... I am going to corfu in June, and have been advised to take over around 50 euros and take the rest in stirling to be exchanged over there, either at the hotel or another exchange place with no comission.... what are your opinions on this?

Ta!:p

waynehayes

1.1321 This morning. Will we see 1.14 today?

inspector_monkfish

waynehayes wrote: »

1.1321 this morning. Will we see 1.14 today?

possibly
just shot up to 1.1355

billykeats

What announcements are we expecting these coming weeks that could effect this rise?

inspector_monkfish

billykeats wrote: »

What announcements are we expecting these coming weeks that could effect this rise?

there are announcements and figures that affect the rate every single day
too many to list

CPI & RPI just been released, slightly worse than expected, market just digesting info

1.1370 trading at mom

billykeats

Let me word it another way what major announcements could we expect that could affect drastically like he did he the weeks previous? EG inflation figures