Euro (€) Currency Thread

inspector_monkfish

up to 1.1035 in the markets now

Blanchflower of MPC says that GBP is undervalued (confirming my thoughts) and the market seesm to like that

inspector_monkfish

up to 1.1130 now after some good mortgage figures released at 9.30am

EuroZone unemployment and inflation figures due to be released at 10.00am, depending on whether they are good or bad, it should have an effect on where the exchange rate goes from here...

inspector_monkfish

inspector_monkfish wrote: »

up to 1.1130 now after some good mortgage figures released at 9.30am

EuroZone unemployment and inflation figures due to be released at 10.00am, depending on whether they are good or bad, it should have an effect on where the exchange rate goes from here...

they were bad figures for Europe.

unemployment up to 8.0% (up from 7.8% last month, and higher than the 7.9% expected)
Inflation falling too fast, now at 1.1% (down from 1.6% last month, and falling faster than the expected survey of 1.4%)

this just underlines the vulnerability of the entire Euro Zone

i would expect to see GBP kick on against the Euro over the coming days

hovering around 1.1120 at moment
GBP has had a good morning so far, but i wouldn't be surprised to see it push towards 1.12 later today after those figures..

inspector_monkfish

bad news for Ireland - talk of a downgrade by Moody's
and an Austrian Bank (RZB) taking a state capital injection of EUR1.75bn

this all all good news for GBP

its helped push gbp/eur up to 1.1170

inspector_monkfish

just smashed through the 1.12

there is talk that a big London clearing Bank is getting ready to sell a load of EUR at 4pm, in order to square his books up for the month end...

currently trading at 1.1210

chickbabes

Hey, I really struggle to understand things like this so hoping you can help. I am going to Dublin a week on Tuesday, when do you think I should get my euros or get them there??
Thanks

inspector_monkfish

chickbabes wrote: »

Hey, I really struggle to understand things like this so hoping you can help. I am going to Dublin a week on Tuesday, when do you think I should get my euros or get them there??
Thanks

get them end of next week
it'll be higher..... probably.....

trading at 1.1255 now

maryfay

does anyone have any ideas wheres best to buy from on the highstreet? thomascook/postoffice etc????

spitfirebbmf

chickbabes wrote: »

Hey, I really struggle to understand things like this so hoping you can help. I am going to Dublin a week on Tuesday, when do you think I should get my euros or get them there??
Thanks

Get them last minute should go up.

jyonda

Why's that? The Euro's taken a right kicking in the last 2 days so why would it get worse? The BOE may cut rates again on Thursday and there's the quarterly inflation report on the 11th which may well redress the balance with some doom and gloom for GBP. I expect to see the exchange rate yoyo up and down like this as the latest bits of bad news are announced for quite some time.

I know nothing about this stuff though so don't listen to me, by the way. But then again I probably have as much chance of getting it right as anyone else.