What's the current exchange rate in Tenerife?

[Ecky Thump]

Today's CaxtonFX Money Report.......that people rarely read!:D

Apart from martincrabb99 ;)



GBP/EUR: Currently trading at €1.2717
Pessimism clouded over Germany, as a gloomy monthly report from Bundesbank was released yesterday. The report claimed that the economic output was likely to be “broadly unchanged” or at least “risen slightly” compared to the previous quarter. Whilst this does not shine hope onto Germany, it does at least mean that they will not fall into a technical recession, which is defined as the economic output declining over two consecutive quarters leading to contraction within the economy. Both construction and industrial production are expected to weigh down on economic output and neither are expected to pick up. The result of this report, as well as news of a significant increase in the house price index in the UK, was a spike in the GBP/EUR pairing, leading to a 1-week high that quickly resolved back on trend.
The ECB started buying covered bonds yesterday, which should be the start of a major policy shift to save economic stagnation in the Eurozone. The results of this program will not be seen until later in the future, for a better indication of current Eurozone health we will look to the results of the ECB’s bank health checks on Sunday.


Yesterday’s almost eerily quiet calendar unsurprisingly failed to inspire the market to move in large waves. Range-bound trading was the outcome of the day and the only data release that could have caused some upset was the Wholesale trade data from Canada. This was released at the widely expected 0.2% forecast and lacked the impetus to support the loonie, allowing the pound to push higher throughout the session. Today’s major data releases are already out, with China’s GDP coming in at 7.3% just slightly above the predicted 7.2% and Industrial Production for the year showing a very encouraging figure of 8.0%. The better than expected data from China has helped to increase risk appetite and this is evident with the pound falling off this morning against most of its major counterparts, especially higher-yielding currencies such as AUD, NZD and CAD. The rest of the day should prove to be muted, with very little on the cards we expect another less-volatile day as we approach the focal point of the week in the form of tomorrow’s exciting data calendar.

[Ecky Thump]

Today's CaxtonFX Money Report....that some people read yesterday!:D



GBP/EUR: Currently trading at €1.2627

Speculators dominated the euro yesterday as debate arose about the ECB expanding their stimulus programme to buy corporate bonds. This led to the Euro being struck down and briefly penetrating this pairing’s third support level before climbing almost a cent.
The results of the MPC bank rate votes and MPC asset purchase facility votes both came in as forecast. The initial reaction to this has been a weakening in the pound, however we do not expect this to continue throughout the day and as the pair approach the 1.262 support level it is likely a correction will ensue, if not before.

Today heralds the most exciting day of the week! After the extremely quiet calendar with only the Chinese Industrial production figures causing ripples, we have now finally arrived at the main event. The data calendar is packed with releases later today, with Canadian Core Retail Sales and US CPI at 13:30 and the Bank of Canada’s Monetary Policy Report and Rate Statement at 15:00 just to name a few. This morning saw the release of the Bank of England minutes for their recent meeting on 9th October. Unsurprisingly the votes remained unchanged for the interest rate hike with 2 members voting for and 7 members voting against and all 9 members voting to keep the QE programme untouched. Due to the large amount of data due out today, we would advise caution when converting currency as high volatility is expected throughout today’s session.

[Ecky Thump]

This will be the last CaxtonFX Money Report for a month! As I'm away spending my Euros in Tenerife!!:wave:


GBP/EUR: Currently trading at €1.2640

Poor UK Retail Sales data is likely to dominate this pairing throughout the morning. Retail Sales, compared to the previous month, were seen at 0.2% below forecast, coming in at -0.3%. This was the weakest figure since January, probably due to a decrease in clothing and footwear sales by 7.8%, the biggest monthly decline since April 2012.
This morning saw the release of German, French and Eurozone manufacturing and services PMI. French PMI data saw signs of stagnation in the economy as new orders fell at record-sharp paces; employment saw the quickest decline for over a year and companies slashed output prices to the greatest amount in five years. Dragging down Eurozone growth, France’s PMI data is a poor sign. German PMI was more hopeful however, showing an unexpected expansion in the manufacturing sector, which is now at a 3-month high. However, German companies are under pressure as their charges were reduced. Mixed data out of the Eurozone, coupled with poor UK data, has seen the pound fall by over half a cent. This afternoon is likely to see volatility in the pairing as a correction is likely to ensue.

Yesterday saw the US dollar march onwards to occupy recently lost ground. The dollar found support amid rumour of Eurozone banks looking likely to fail stress tests and equities firming up after their recent losses. The Bank of England’s minutes held no surprises whilst the Bank of Canada dropped its neutral bias without giving anything else away, lending some strength to the Loonie. Yesterday’s results saw minor skirmishes in the markets with plenty of price action but the star of the show was definitely the US dollar, who fell upon the warring factions with fervour and pushed rates back in its favour. This morning brought a host of Eurozone Services and Manufacturing PMI data which was very encouraging, coupled with the poor UK retail sales figures means we are seeing lower rates for the GBP/EUR pairing, although this should only be short term in duration.

- - - - - - - - - - merged double post - - - - - - - - - -


This will be the last CaxtonFX Money Report for a month! As I'm away spending my Euros in Tenerife!!:wave:


GBP/EUR: Currently trading at €1.2640
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I just hope that Angusjim has plenty of euros in his back pocket as he is treating me to a slap-up-meal in Burger Kings!:wow:

[caz12]

Hi does anybody know the exchange rate?

[firemanfoz]

Hi does anybody know the exchange rate?
beds and 5 for the
I remember the 'tour sit' rate in Los Cristianos was 10 Euros for 2 beds and 5 for the umbrella

[LUCKY]

beds and 5 for the
I remember the 'tour sit' rate in Los Cristianos was 10 Euros for 2 beds and 5 for the umbrella

Nearly 5* to the euro then :flatcap::feret::feret::feret::feret:

I got 1. 25 to the pound a week last Monday at san blas .:flatcap:

But that was the tourist rate ( Please give me 5* for me spilling )

[Ecky Thump]

GBP/EUR: Currently trading at 1.2602

A quiet Euro-area day yesterday saw this pairing trading solely on the back of UK data. The Bank of England’s inflation report hearings saw Carney backtracking on previous promises for the interest rate hike to be dependent on data. A dovish Carney saw Sterling waver as the BoE considered hiking rates despite weak inflation. This was released as an inflation expectations survey showed the weakest expectation for inflation in more than five years. However, dovish words and talks of low inflation are now commonplace in Carney’s lexicon and as such, the pound failed to move too far in either direction.
Today will bring another day of trading dependent on UK data. This morning will bring the release of the second estimate for the quarterly UK GDP figures, which is forecast to remain the same as the preliminary release. A quiet afternoon may allow the pound to prevent some of the recent Euro gains and reverse the current trend.

Yesterday saw the US dollar take some unexpected hits after the CB Consumer Confidence survey showed confidence has dropped in the last month. This weighed heavily on the dollar and caused the market to shrug off the great news from US Preliminary GDP figures showing an increase from 3.5% to 3.9%. The dollar fell against the pound and the euro as a result. Continuing the GDP theme, we have the UK GDP Second Estimate figures due to be released this morning at 09:30. As the main UK data for the remainder of the week, if we see positive figures here it could go a long way to help sustain the pound against its rivals. Later this afternoon it once again becomes the US show ahead of Thanksgiving tomorrow, with Core Durable Goods Order and Unemployment Claims at 13:30 and New Home Sales at 15:00. There is a host of other US data being squeezed in today’s calendar but suffice to say that the market should see price action continue in dollar pairings throughout the day.

[martincrabb99]

Now I know your back in the groove!

[Ecky Thump]

Now I know your back in the groove!

Over the last four weeks I spent most of my euros and my wife is determined to get four Tenerife holidays out of our twelve month holiday insurance, so I will be keeping a close eye on the exchange rate ready to top up my CaxtonfX card and now to add extra pressure to my wallet she has promised my son and his family that " I " will fund a Tenerife holiday for them in August. :bootyshake:

[martincrabb99]

Over the last four weeks I spent most of my euros and my wife is determined to get four Tenerife holidays out of our twelve month holiday insurance, so I will be keeping a close eye on the exchange rate ready to top up my CaxtonfX card and now to add extra pressure to my wallet she has promised my son and his family that " I " will fund a Tenerife holiday for them in August. :bootyshake:

So when do you think your next trip will be? My next trip to Tenerife is not until February now!

[Ecky Thump]

So when do you think your next trip will be? My next trip to Tenerife is not until February now!

We have four weeks booked for April/May and a further four weeks in September/October and over the last few minutes Carol has decided that it would be a good idea if we go out again in August to join the family.....do you know of any trains that are worth while robbing!!:cheeky:

[TOTO 99]

We have four weeks booked for April/May and a further four weeks in September/October and over the last few minutes Carol has decided that it would be a good idea if we go out again in August to join the family.....do you know of any trains that are worth while robbing!!:cheeky:

This one must be worth a few quid by now.....:lol:

5663

[martincrabb99]

This one must be worth a few quid by now.....:lol:

5663

This ones been robbed already....the mail carriage is missing!

[TOTO 99]

This ones been robbed already....the mail carriage is missing!

I guess his route must have taken him through Lower GDS.....:lol:

[Ecky Thump]

I guess his route must have taken him through Lower GDS.....:lol:

So are you suggesting that is where LUCKY gained his great wealth?

[golazzo]

So when do you think your next trip will be? My next trip to Tenerife is not until February now!

Thats our next trip. Booked half term for a weeks stay at the Med Palace.

[Ecky Thump]

GBP/EUR: Currently trading at 1.2631

A volatile morning yesterday saw this pairing fall to 1.258 before spiking to 1.266 then falling back half a cent and stabilising at the 1.2625 mark. The second estimate for the UK’s quarterly GDP came in exactly as expected at 0.7%, this result saw this pairing start a steady climb in the Sterling’s favour.
Today will bring a Euro-data-heavy day with Draghi speaking this morning, German unemployment change data being released and German preliminary CPI figures sweeping in from 6 German states throughout the day. As German CPI data is released small pockets of volatility may be seen in this pairing. If Draghi speaks with his usual dovish tone, the Euro is likely to fall further against the pound.

Yesterday saw UK Second Estimate GDP released in line with expectations which helped to shore up sterling’s defence. Most of yesterday’s US data fell below forecast and caused the dollar to weaken considerably, allowing its global peers to gain swathes of ground lost in recent months. Today is Thanksgiving in the US, meaning zero data is due from the States for the rest of the week and with the dollar still on the back foot, this could be an opportune time for its rivals to fight back. Today’s main releases are the German Preliminary CPI data and the OPEC Meetings taking place in Vienna. The OPEC meetings are important as they comprise representatives from 13 of the most oil rich nations that account for just under half the world’s oil production and they align their production levels. Due to the vast supply that they control, any change in production can have a large impact on the global oil prices. The German Preliminary CPI data will be heavily watched by the market due to its surprisingly poor previous release of -0.3%. This month is forecast to show a figure of 0.0%, anything below this figure will not bode well for the Eurozone.

[martincrabb99]

GBP/EUR: Currently trading at 1.2631

A volatile morning yesterday saw this pairing fall to 1.258 before spiking to 1.266 then falling back half a cent and stabilising at the 1.2625 mark. The second estimate for the UK’s quarterly GDP came in exactly as expected at 0.7%, this result saw this pairing start a steady climb in the Sterling’s favour.
Today will bring a Euro-data-heavy day with Draghi speaking this morning, German unemployment change data being released and German preliminary CPI figures sweeping in from 6 German states throughout the day. As German CPI data is released small pockets of volatility may be seen in this pairing. If Draghi speaks with his usual dovish tone, the Euro is likely to fall further against the pound.

Yesterday saw UK Second Estimate GDP released in line with expectations which helped to shore up sterling’s defence. Most of yesterday’s US data fell below forecast and caused the dollar to weaken considerably, allowing its global peers to gain swathes of ground lost in recent months. Today is Thanksgiving in the US, meaning zero data is due from the States for the rest of the week and with the dollar still on the back foot, this could be an opportune time for its rivals to fight back. Today’s main releases are the German Preliminary CPI data and the OPEC Meetings taking place in Vienna. The OPEC meetings are important as they comprise representatives from 13 of the most oil rich nations that account for just under half the world’s oil production and they align their production levels. Due to the vast supply that they control, any change in production can have a large impact on the global oil prices. The German Preliminary CPI data will be heavily watched by the market due to its surprisingly poor previous release of -0.3%. This month is forecast to show a figure of 0.0%, anything below this figure will not bode well for the Eurozone.

I think that OPEC may cut oil production, they won't like their huge profits diminishing!

[tfs1]

Just got 1.2415 at the exchange place near Fados restaurant in Los Cristianos, Admiral travel were offering 1.24.

[Ecky Thump]

Just got 1.2415 at the exchange place near Fados restaurant in Los Cristianos, Admiral travel were offering 1.24.

I've used that exchange on many occasions and found that they are always competitive with their rates of exchange, but I still prefer to use my CaxtonFX Debit card for holiday cash, it's a very secure method of banking your holiday money and you can use the local banks ATM's to withdraw your euros with no charges being made.

[LUCKY]

I've used that exchange on many occasions and found that they are always competitive with their rates of exchange, but I still prefer to use my CaxtonFX Debit card for holiday cash, it's a very secure method of banking your holiday money and you can use the local banks ATM's to withdraw your euros with no charges being made.

I prefer to use money from my stash secreted in Lower GDS , No charges well not yet :copper:
:flatcap::feret::feret::feret::feret:

[martincrabb99]

I prefer to use money from my stash secreted in Lower GDS , No charges well not yet :copper:
:flatcap::feret::feret::feret::feret:

The Heat is on!

[LUCKY]

The Heat is on!

It is on ,But that is Yorkshire. Not long now, More:laundry: to be done soon :laugh::laugh::flatcap:

[Chine]

[QUOTE=martincrabb99;417026]The Heat is on![/QUOTE





Aaahhhhh now it all makes sense ,the last time I saw LUCKY he was instructing his army of furry friends to bury suspicious packages under the bowling green at the winter gardens , someone needs to dig it up!!!!!!

[LUCKY]

[QUOTE=martincrabb99;417026]The Heat is on![/QUOTE





Aaahhhhh now it all makes sense ,the last time I saw LUCKY he was instructing his army of furry friends to bury suspicious packages under the bowling green at the winter gardens , someone needs to dig it up!!!!!!

If they dig that up , my game may be up as underneath the bowling rink, notice it is not a green , the posh people at the winter gardens may be upset with the word green, I have many cars under the rink. :redcar::car::bluecar::dbluecar::yellowcar::pinkca r::whitecar::greencar::moped::moped::flatcap:

[martincrabb99]

[QUOTE=Chine;417031]

If they dig that up , my game may be up as underneath the bowling rink, notice it is not a green , the posh people at the winter gardens may be upset with the word green, I have many cars under the rink. :redcar::car::bluecar::dbluecar::yellowcar::pinkca r::whitecar::greencar::moped::moped::flatcap:

Your Ferrari cap will not help you evade buying me a lager

[LUCKY]

[QUOTE=LUCKY;417033]

Your Ferrari cap will not help you evade buying me a lager

No problem , and keeping on topic , Is that a good or bad exchange rate ? :flatcap:

[martincrabb99]

[QUOTE=martincrabb99;417035]

No problem , and keeping on topic , Is that a good or bad exchange rate ? :flatcap:

I was getting €1.25 in San Blas

[Chine]

[QUOTE=LUCKY;417038]

I was getting €1.25 in San Blas


What did you have to do for that!

[martincrabb99]

[QUOTE=martincrabb99;417044]


What did you have to do for that!

[emoji383][emoji384][emoji385][emoji386][emoji387][emoji389]collect the loot and vamoose!

[Ecky Thump]

GBP/EUR: Currently trading at 1.2614

With slightly hawkish undertones, Draghi warned Eurozone countries that if they failed to act on their economic reforms and protect weaker members then they could damage the “essential cohesion” of the Eurozone. Draghi’s stern words appeared to have sparked some hope in the hearts of Euro traders as the Euro was seen to strengthen.
This morning’s German retail sales figures saw a strong monthly increase from -2.8% to 1.9%, a strong sign that poor economic conditions are not deterring the population from doing their winter shopping. French consumer spending fell -0.9% compared to the previous month. This mixed data saw equally mixed movement, with this pairing falling to 1.2603 before climbing to 1.2617 and continuing to rise. In anticipation of the Eurozone CPI flash estimate, the Euro may continue to weaken and with this data forecast to be less than last year’s 0.4%, the Euro could fall even further against the pound.

Yesterday brought a quiet day of trading with the main focus being Draghi’s speech in the morning and the OPEC meetings in the afternoon. Hawkish tones seeped through Draghi’s usually dovish words as he warned Euro-area countries of an incomplete union and called for “joint sovereignty”. The Euro gained slightly on his words. Oil prices plummeted as OPEC’s output remained unchanged, particularly weighing in on the Canadian dollar. Today will bring another quiet calendar with the main focus on the Eurozone’s CPI data at 10:00. Forecast to hit 0.3%, the Euro’s recent gains may not hold. As this week draws to a close and a fresh month approaches, range-bound trading looks likely to hold its course until the coming month’s new data starts to emerge.

[martincrabb99]

GBP/EUR: Currently trading at 1.2614

With slightly hawkish undertones, Draghi warned Eurozone countries that if they failed to act on their economic reforms and protect weaker members then they could damage the “essential cohesion” of the Eurozone. Draghi’s stern words appeared to have sparked some hope in the hearts of Euro traders as the Euro was seen to strengthen.
This morning’s German retail sales figures saw a strong monthly increase from -2.8% to 1.9%, a strong sign that poor economic conditions are not deterring the population from doing their winter shopping. French consumer spending fell -0.9% compared to the previous month. This mixed data saw equally mixed movement, with this pairing falling to 1.2603 before climbing to 1.2617 and continuing to rise. In anticipation of the Eurozone CPI flash estimate, the Euro may continue to weaken and with this data forecast to be less than last year’s 0.4%, the Euro could fall even further against the pound.

Yesterday brought a quiet day of trading with the main focus being Draghi’s speech in the morning and the OPEC meetings in the afternoon. Hawkish tones seeped through Draghi’s usually dovish words as he warned Euro-area countries of an incomplete union and called for “joint sovereignty”. The Euro gained slightly on his words. Oil prices plummeted as OPEC’s output remained unchanged, particularly weighing in on the Canadian dollar. Today will bring another quiet calendar with the main focus on the Eurozone’s CPI data at 10:00. Forecast to hit 0.3%, the Euro’s recent gains may not hold. As this week draws to a close and a fresh month approaches, range-bound trading looks likely to hold its course until the coming month’s new data starts to emerge.

Looks like I was wrong OPEC didn't change their output!

[kingbaker]

Saudis want to stick it to russia for supporting Syrian reigme and causing much destabilisation in their region. Russia slowly being squeezed in behind the 8 ball.;)

[Ecky Thump]

GBP/EUR:Currently trading at 1.2578

Clearly Black Friday shoppers were not interested in the pound as this pairing fell from 1.263 to 1.255. This Euro strength was a result of the CPI flash estimate registering at the 0.3% level as expected. Despite falling 0.1% compared to the previous result, the Euro saw strength as traders clearly anticipated a worse reading. As well as this, as Core CPI (which excludes food, energy, alcohol and tobacco) remained at 0.7% room has been left for optimism that the CPI’s fall was a glitch due to recent falls in energy prices.
This morning has seen the Euro weaken against the pound as poor Italian manufacturing PMI data overshadowed strong Spanish manufacturing PMI data. For a further indication of where this pairing’s direction, traders will turn to the UK’s manufacturing PMI data being released this morning.

Today brings the first day of Christmas and as always the highlights are the UK PMI figures that are released at the beginning of each month. This morning at 09:30 brings the UK Manufacturing PMI which will set the tone for this morning’s trading and should influence sterling pairings throughout today’s session. Later this afternoon, the US follows suit with their ISM Manufacturing PMI which will then take the spotlight away from the UK and provide us further clues on how dollar pairings will trade as we close towards the end of the year. This is just the start of a very data heavy week and plenty of volatility could be seen throughout the Festive Period.

[Tshirt]

I just loaded some euros onto my Caxton FX card at 1.2450, I always find you get a good rate on a Monday morning.

[Ecky Thump]

I just loaded some euros onto my Caxton FX card at 1.2450, I always find you get a good rate on a Monday morning.

So you know where these daily reports come from....I wonder if I'm breaking any publication or copyrights laws, they might sue me for every euro on my Caxton card.:pray:

[Tshirt]

So you know where these daily reports come from....I wonder if I'm breaking any publication or copyrights laws, they might sue me for every euro on my Caxton card.:pray:


What, €1.50 :lol:

[Ecky Thump]

GBP/EUR: Currently trading at 1.2625

A relatively quiet calendar day in the Eurozone yesterday allowed this pairing to trade on the back of the UK’s manufacturing PMI data. Again this growth was led by domestic demand, export orders remained weak. The manufacturing PMI data report provides more information than just growth figures and this month after recent price pressures a lot of focus was on the current price trends in the three sectors. This report showed that in November, price pressures remained subdued with output charges rising by the weakest amount in the past 17-months. The recent oil price slump is likely to help reduce manufacturer’s costs.
This morning’s Spanish unemployment change data saw a very strong figure, registering a decrease of 14.7K when a gain of 21.3K was forecast. Despite this strong data, the markets moved in the pound’s favour in anticipation of the construction PMI data being released this morning. Looking at yesterday’s trend, if the construction PMI beats predictions then this pairing should trade for the rest of the day in the pound’s favour. However, if the result is lower than the 61.1 forecast, then the Euro is likely to recover lost ground and gain on the pound.

Yesterday heralded the beginning of December and the markets certainly favoured the pound. UK Manufacturing PMI data was released above expectations at 53.5, up from the revised previous reading of 53.3 which lent strength to the pound in yesterday’s session. The US ISM Manufacturing PMI figures also beat expectations but were not strong enough to build on the previous reading. This lent the dollar just enough strength to limit advances made by its counterparts but failed to provide enough of a boost to restart the dollar’s recent momentum. This morning sees the release of the UK Construction PMI figures which if positive, will increase speculation that tomorrow’s all-important Services PMI data will also benefit the pound. If all three of the UK’s PMI figures beat predictions, this will leave sterling in a very strong position as the year draws to a close.

[Ecky Thump]

GBP/EUR: Currently trading at 1.2678

Poor construction PMI figures out of the UK saw this pairing fall to 1.259 however this low level failed to hold and the rate quickly corrected to previous trading levels of 1.2625. Construction PMI registered at a 13-month low, led by a weak increase in civil engineering activity. Job creation still remains strong and construction firms are confident about their growth potential in the next 12 months.
This morning’s Spanish services PMI figures saw a drop from 55.9 to 52.7, which led to this pair jumping in the pound’s favour. Whilst sentiment in the Spanish services sector remains strong, November recorded the weakest rise in activity for over a year. The Italian services PMI, which followed soon after, saw an increase to 51.8 from 50.8 however this could not provide the Euro with the support needed to resist the pound’s gains. The final of the three PMI figures will be released this morning from the UK and today’s trading is likely to be focused on that. Forecast to increase slightly, the pound may continue making gains against the euro.

Yesterday’s UK construction PMI data saw a poor decrease from 61.4 to 59.4 however this did not create the Sterling weakness that was expected across pairings. The pound likely found support in optimistic traders who are keenly anticipating this morning’s Services PMI, which is forecast to increase by 0.4. Arguably the most important of the three PMI data releases, Services PMI tends to create the most volatility and therefore this morning’s trading may carry this as a risk. At 12:30 the Autumn Forecast Statement is being released from the UK and this will be the main focus for most UK pairings with the exception of Cable, which is likely to see ADP non-farm employment change data and ISM non-manufacturing PMI figures taking centre stage. As with most ADP non-farm data releases, scepticism will surround their result.

[Ecky Thump]

GBP/EUR: Currently trading at 1.2720

This pairing saw a cent climb yesterday as strong UK services PMI data was followed by weak Eurozone retail sales data. Services PMI registered a strong increase from 56.2 to 58.6. Falling fuel prices limited cost inflation and output charges were left unchanged in November. Today’s release of the official bank rate out of the UK is expected to stay at 0.5%, therefore today’s trading will focus on Eurozone announcements.
Yesterday’s monthly retail sales figures out of the Eurozone registered a slight growth of 0.4%, whilst this was up from the previous month’s figure of -1.2%, it was below the forecast 0.6% and therefore failed to support the Euro. This afternoon will see the release of the minimum bid rate data, forecast to remain at 0.05%, and the ECB press conference will take place 45 minutes later. As traders speculate the effects of QE in the Eurozone, volatility may be seen in anticipation of Draghi’s words.

The UK Services PMI data finally arrived with an expectation-beating figure of 58.6, helping to boost a lagging pound and push higher against its global peers. Later in the afternoon we had the ADP Non-Farms data which is always released two days before the official figures and must be taken with a pinch of salt due to its capricious nature. It was released under expectations which forced the US dollar into a softer stance and allowed the pound to push even higher. Finally we had the Bank of Canada’s rate statement which showed the BOC keeping their interest rates at 1% and whilst they noted stronger economic data, concerns over oil prices still remain. Today is central bank Thursday – we have the Bank of England interest rate meetings at 12:00 and the ECB meeting and Press Conference at 13:30. No major change is expected from either side but both have the potential to spoil the broth.

[Ecky Thump]

GBP/EUR: Currently trading at 1.2659

Steady trading was seen throughout yesterday morning and the UK’s official bank rate release failed to influence this pairing in either direction. The same could not be said for the ECB’s press conference, which saw this pairing fall a cent to 1.2625. Draghi wooed the markets with his hawkish tone as he declared that the ECB ‘intends’ to increase the balance sheet to around €3 trillion. The use of the word ‘intend’ as opposed to ‘expect’, was picked up on by analysts. He further spoke of his desires, claiming that unanimity was not necessary in the governing council for further monetary easing steps to take place, specifically buying government bonds. As he delicately placed the cherry on the cake, Draghi said that if lower oil prices threaten inflation outlook, then more easing will be warranted. The ECB will make an assessment in the beginning of the New Year and plan further steps as required.
A quiet day from both countries today may allow the pound to reverse some of the Euro’s gains and start posting gains of its own.

Yesterday’s session saw the focus firmly on the ECB Press Conference with ECB President Draghi leading the markets on a merry jaunt. With one hand he looked set to provide some form of definitive policy for 2015 but then hurriedly snatched it away with the other. He revealed that current policy measures were still being assessed and it became clear that no new policy was to be announced. This strangely caused a euro rally as the multi-country currency pounced higher against the pound and especially against the US dollar. We believe that this will only be a temporary movement and corrections should ensue over the next week or so. Today’s major releases are from North America in the form of trade balances and unemployment/employment figures from both Canada and the US. The headline of the day will almost certainly be the US Non-farm employment change which is the key indicator of the US labour market’s health. Forecast for a substantial increase, we could see that EUR/USD correction happen sooner than expected if this is released in line with predictions.

[Ecky Thump]

GBP/EUR: Currently trading at 1.2694

No data out of either country on Friday allowed this pairing to be influenced by external data. As US non-farm figures came out with a strong result, this pair saw a spike in favour of the pound, which was probably due to a dollar/euro sell-off.
With no releases pencilled into the calendar today, the main focus will be on the Eurogroup meetings. Although the meetings are closed to the press, if officials choose to talk to reporters then we could see some market movement.


Friday saw most pairings being dependent on US data, which was released over the course of the afternoon. The all-important and much-awaited non-farm employment change data, saw a strong increase from 243K to 321K and this allowed the dollar to gain across the majors. The US deficit fell $0.2B as exports rose $2.3B and imports rose $2.1B. Today’s trading will focus around speculation regarding the Eurogroup meetings and any snippets of financial remarks that could be released if officials decide to speak with reporters. After Draghi’s hints of QE last week, traders will pick at any statements that are released and therefore volatility may be seen as people react to these from different perspectives.

[Ecky Thump]

GBP/EUR:Currently trading at 1.2677

A limited amount of data out yesterday saw this pairing dependent on releases that are usually considered to be low-impact. In the morning the results of the Sentix investor confidence survey were released as well as the most recent German industrial production figures. The survey registered a sharp rise from -11.9 to -2.5 and the German data saw a fall from 1.1% to 0.2%. Worries about the Eurozone’s biggest member suffering from a slowdown saw the Euro quickly fall against the pound.
Today’s focus will be on UK data with manufacturing production out this morning and the NIESR GDP estimate this afternoon. With the manufacturing figures forecast to drop off from 0.4% to 0.2%, the Euro may be able to gain some ground against the pound.

Yesterday’s extremely quiet calendar saw current trends continue with the pound slowly gaining against its global peers. Sterling found strength from last week’s UK PMI figures, notably the encouraging data from Services PMI which allowed it to push higher against the dollar and the euro. Yesterday’s data of note was the Chinese Trade Balance that showed a widening surplus and has helped to allay recent concerns over a slowdown for China and her trade partners. Today brings the UK’s Manufacturing Production at 09:30 which is forecast to drop slightly to 0.2%, down from 0.4%. Manufacturing PMI last week was forecast to do the same but actually surprised the market with a pleasing increase – if Manufacturing Production achieves a similar result today, we could see the pound advance higher throughout the session.

[martincrabb99]

I always read it.....just in case there is a test later[emoji28]

[Ecky Thump]

I always read it.....just in case there is a test later[emoji28]

I don't, - I just copy and paste!:D

[kingbaker]

We'd never've noticed!!:D

[Ecky Thump]

We'd never've noticed!!:D


Well you never spotted the editing that I did today!:duh::p

[Ecky Thump]

GBP/EUR: Currently trading at 1.2651

Yesterday began with a poor start as the manufacturing production data out of the UK registered the first fall since May of this year. Falling 0.7% compared to the previous month, this result was a worrying sign. The ONS warned against picking apart this particular data too much as this may just be an anomalous happenstance in an otherwise strong trend. This poor figure pushed Sterling down against the Euro. The NIESR’s GDP estimate, which was released later in the day, remained at 0.7%. This stable figure gave the pound some support and it began to reverse the Euro’s recent gains.
This morning’s French industrial production data provided the pound with more strength to fight the Euro’s advances as it registered at -0.8%. French manufacturing production also registered a decrease, although not as steep, at -0.2%. Today’s focus will be on the UK’s trade balance data, forecast to increase from -9.8B to -9.5B, support for the pound should continue.

Yesterday’s hopes of continued sterling strength suffered defeat after the UK Manufacturing Production figures showed -0.7% down from last month’s revised 0.6%. This caused the pound to lose momentum and it slipped from above 1.27 against the euro and headed towards the 1.26 mark. This has dented the market’s confidence in the pound and sterling is now in a softer state as a result. Today brings another quiet day on the calendar front with the headlines being the Reserve Bank of New Zealand’s Rate Statement and Press Conference tonight at 20:00. Indications of New Zealand’s future monetary policy will be eagerly watched whilst current trends continue throughout today’s session.

[Tony the Welder]

GBP/EUR: Currently trading at 1.2651

Yesterday began with a poor start as the manufacturing production data out of the UK registered the first fall since May of this year. Falling 0.7% compared to the previous month, this result was a worrying sign. The ONS warned against picking apart this particular data too much as this may just be an anomalous happenstance in an otherwise strong trend. This poor figure pushed Sterling down against the Euro. The NIESR’s GDP estimate, which was released later in the day, remained at 0.7%. This stable figure gave the pound some support and it began to reverse the Euro’s recent gains.
This morning’s French industrial production data provided the pound with more strength to fight the Euro’s advances as it registered at -0.8%. French manufacturing production also registered a decrease, although not as steep, at -0.2%. Today’s focus will be on the UK’s trade balance data, forecast to increase from -9.8B to -9.5B, support for the pound should continue.

Yesterday’s hopes of continued sterling strength suffered defeat after the UK Manufacturing Production figures showed -0.7% down from last month’s revised 0.6%. This caused the pound to lose momentum and it slipped from above 1.27 against the euro and headed towards the 1.26 mark. This has dented the market’s confidence in the pound and sterling is now in a softer state as a result. Today brings another quiet day on the calendar front with the headlines being the Reserve Bank of New Zealand’s Rate Statement and Press Conference tonight at 20:00. Indications of New Zealand’s future monetary policy will be eagerly watched whilst current trends continue throughout today’s session. nice work ecky thump I can not understand it but it looks good do you think the pound to euro will go to 1.30 over the next few weeks as experts predict

[Ecky Thump]

nice work ecky thump I can not understand it but it looks good do you think the pound to euro will go to 1.30 over the next few weeks as experts predict

I wish I was a financial expert, but can only go on the current trend of the exchange rate, I'm holding off for a few more weeks before loading some money onto my Caxton euro card, but to be honest a couple of cents to the pound in either direction won't mean a lot on holiday spending money-if I was in the process of buying property or a business then it would be a different story.

How many times have we heard of people walking to L/A from L/C to exchange a hundred pounds to euros as they were getting a extras cent to the pound and then buy a beer on the way and another on their way back, plus a euro tip, they have spent four euro to gain one euro!!......You know it makes sense.:p

[martincrabb99]

Did you add ' anomalous happenstance ' to the report to test us! [emoji6]

[Ecky Thump]

Did you add ' anomalous happenstance ' to the report to test us! [emoji6]

Oh yes, I have bought shares in the "Websters Dictionary" and I am trying to increase its need and sales.:laugh:

[Ecky Thump]

GBP/EUR:Currently trading at 1.2602

The UK trade balance data showed an increase from -10.5B to -9.6B however this was above the forecast -9.5B. The pound gained on the Euro as the UK’s deficit registered a seven-month low. This narrowing in the deficit was led by a decrease in fuel imports and a slight rise in exports. Sterling’s gains failed to find enough support to remain above the 1.2665 mark and this pair fell in the Euro’s favour.
This morning will bring the latest Targeted LTRO figures from the Eurozone, as this program only began in September 2014 there is no current discernible trend for how the markets will react to the release. Forecast to increase from 82.6B to 148.2B, traders may witness volatility as the markets assess these figures.


Yesterday’s main release was the Reserve Bank of New Zealand’s monetary policy decision, which came as no surprise to find that nothing had changed. Commentary alluded to future rate hikes, stressing that when applicable they will be gradual and the Kiwi strengthened as a result. It immediately gained 4 cents against the pound as the GBP/NZD rate reversed recent gains and headed closer to the 2.0 mark. Today brings the busiest day of the week for the data calendar with European Long Term Refinancing Option (LTRO) data at 10:15, Bank of Canada Gov Poloz speaking at 13:00 and US Retail Sales and Unemployment claims at 13:30. The European LTRO will be the one to watch as this data shows how much money will be created by the ECB and loaned to European banks – the theory being to provide liquidity and help stimulate growth. The spotlight will then flicker to the US Unemployment claims in the afternoon. Overall, this will be the busiest day in terms of data releases that we have seen all week and as a consequence, volatility will be seen in today’s session.

[Ecky Thump]

GBP/EUR:Currently trading at 1.2629

This pair rose a cent yesterday after the Eurozone’s targeted LTRO figures were released however this was unlikely to be the direct cause for Sterling’s climb and more likely to have just injected mild momentum into the mix. The LTRO figures registered at 129.8B, which was below the forecast 148.2B but above the previous 82.6B. This result had analysts split about what it meant for the Euro, with the general consensus being that it would be easier for the ECB to impose a further stimulus programme.
This morning has seen the Euro gain against the pound in anticipation of the UK’s construction figures that are due to be released later this morning. Forecast to decrease from 1.8% to 0.8%, we do not anticipate the final result to create heavy market movement.

Yesterday’s session proved to be the busiest of the week and plenty of price action was seen in the markets. The European Targeted LTRO data failed to live up to expectations coming in at 129.8B, as opposed to the predicted 148.2B. This was still higher than the previous figure but due to it being a new initiative, this was overlooked and the euro lost ground. The US data dominated the spotlight in the afternoon with Core Retail Sales, Retail Sales and Unemployment Claims all improving and posting better than expected figures, although this is largely priced in as retail sales can be expected to increase in the run-up to Christmas. Today is a far quieter day on the calendar with the US PPI and Preliminary University of Michigan Consumer Sentiment survey being the data releases of note. Current trends are expected to continue as we progress to next week’s active calendar.

[Ecky Thump]

GBP/EUR: Currently trading at 1.2635

The Euro gained throughout Friday’s session with support for the pound only being seen as the day drew to an end. Friday’s traders focused on the Eurozone industrial production data beating the previous month’s figures over the data falling below forecast.
This morning will bring the results of the UK’s CBI industrial order expectations, which are forecast to remain at 3, and also the release of the German Buba monthly report. The pound’s gains could continue against the Euro throughout the day with the only likely resistance being if the Buba report is more hawkish than expected.

Friday saw existing trends continue with a pleasant uplift in sterling’s favour. The pound made some gains after European Industrial Production for the month showed poor figures and mixed data was released from the US. The US PPI figures came in below expectations at -0.2%, down from 0.2% and the Preliminary University of Michigan Consumer Sentiment survey registered the highest figure we have seen all year – confirming that confidence is returning to the US economy. Today brings a quieter day on our data calendars and could be described as the calm before tomorrow’s storm, where there is plenty of major releases for the market to get to grips with.

[Ecky Thump]

GBP/EUR: Currently trading at 1.2533

The Euro continued to post gains against the pound in yesterday’s session, despite strong UK industrial data released in the morning. The CBI factory orders growth registered a four-month high as it hit a result of +5, which is well above the average -16. This result was not enough to resist the Euro gains and this pair continued to fall in the Euro’s favour. This morning’s UK bank stress test results saw limited movement in this pair as traders assessed the impact of the outcome. Similarly, the French and German flash manufacturing PMI releases failed to provide any extra momentum in the markets and range-bound trading continued.
This morning’s UK CPI data is forecast to drop off slightly, which could allow the Euro to push up further against the pound. These potential gains could further be reinforced by the release of the German ZEW economic sentiment survey results, which are predicted to increase from 11.5 to 19.8.

In anticipation of today’s profusion of data, Sterling pairings traded with relative stability. The release of the Bank Stress Test Results saw this range-bound trading extend into this morning’s session. Out of the eight UK banks tested, five passed, the Co-operative Bank failed, and Lloyds Banking Group and Royal Bank of Scotland merely scraped through. Carney stressed that the tests were very “demanding” and the results show that the banking system is “significantly more resilient” than in the past. At 09:30, CPI data is due to be released out of the UK and with the annual figures forecast to drop off slightly from 1.3% to 1.2%, further risks may be presented to the Sterling downside. With an abundance of data being released throughout the day, volatility can be expected in all pairings and traders should be cautious of the risks that this can bring.

[Ecky Thump]

GBP/EUR: Currently trading at 1.2617

Warring supermarkets coalesced with slipping oil prices and produced a Christmas present for all consumers in the form of low inflation figures. This result saw the pound initially weakening against the Euro before strengthening throughout the remainder of the day. In Germany, the ZEW economic sentiment figures registered well above forecasts, coming in at 34.9, the highest reading since May 2014. This strong result failed to see the Euro gain on the pound as the UK’s CPI figures held the attention of traders.
This morning sees UK data as the main focus and it definitely did not disappoint. The highlight was the average earnings index which showed a 1.4% increase up from 1.0% at the last reading. This coupled with the MPC votes should lend some aid to the pound.

Yesterday proved slightly less volatile than initially thought. We kicked off with French and German Manufacturing PMI which showed France’s contraction increased and German Manufacturing hopped off the fence into a firmly expansionary stance. This was quickly followed by UK CPI which showed 1.0% exactly – falling in line with BoE Gov Carney’s recent analysis but raising speculation that he will being putting pen to paper for next month’s figures. We subsequently had the German ZEW Economic Sentiment Survey which registered another great result for Germany and disappointing Canadian Manufacturing Sales in the afternoon. Generally this led to most trends sticking put and definitely allowed the euro to resist further advances made by the pound. This morning brought no surprises with the MPC Official Bank Rate Votes showing no change, hopefully lending some strength to the pound as eyes turn to this afternoon’s US CPI data and the Fed Statement this evening.

[Tshirt]

Most of the exchange places around Torviscas have been giving €1.24 to the pound this week

[Ecky Thump]

GBP/EUR: Currently trading at 1.2691

A stellar Sterling performance was seen yesterday after strong UK data emerged in the form of average earnings index and claimant count change. The pound gained against the Euro throughout the day on the back of these sturdy figures. The German Ifo business climate survey, which was released this morning saw the pound continue to gain on the Euro, despite a promising result of 105.5.
After a busy couple of days, today will see relative quiet from both countries with the main focus being the UK retail sales data out this morning. UK retail sales showed an impressive figure of 1.6% far higher than the predicted 0.8%. This will undoubtedly help the pound in its current campaign to win back the upper echelons of the 1.20 region and we expect advances towards 1.2750 shortly.


Mixed data from the US left it as the ultimate winner in yesterday’s trading session. Poor US CPI and Core CPI figures left the dollar in a weaker state in the afternoon however its global peers failed to capitalise ahead of the Fed Statement and Press Conference that loomed in the evening. The Statement and Economic Projections by and large confirmed recent information and led the market to viewing it with a dovish tint. It was the press conference in the evening that really kicked things off! Yellen’s conference was full of economic optimism and progression towards the 2% inflation target was bolstered. The key phrase used was “normalisation is unlikely to come during the next couple of meetings”, fuelling speculation that an interest rate hike may fall in mid-2015. This morning’s encouraging UK Retail Sales may help the pound resist the dollar but with unemployment claims and the Philly Fed Manufacturing Index due this afternoon, this could be a big ask.

[Ecky Thump]

GBP/EUR: Currently trading at 1.2758

On the back of strong UK retail sales figures, the pound gained on the Euro throughout yesterday’s session. Climbing from 1.2622 to 1.2760, this pair began to level off in the evening and traded around the 1.275 mark. This morning saw the GfK German consumer climate data beating forecasts and hitting 9.0, lending the Euro some strength to resist the pound’s gains. After months of pessimism regarding the German economy, this downward trend has reached an end after consistently strong reports have been released recently. As confidence is being restored in the German economic climate, these rays of optimism are likely to emanate into the Eurozone and the Euro could be looking at a much-needed rally at some point in the early New Year.
A relatively light calendar today will focus on the public sector net borrowing figures and CBI realised sales from the UK. Both sets of data are forecast to improve and we may therefore see further strengthening in the pound against the Euro.

Yesterday saw a quiet day across the board with the main highlights being the UK’s retail sales data in the morning and the US unemployment claims figures in the afternoon. With Christmas fast approaching it came as no surprise that retail sales rose to 1.6% from 1.0%, despite the forecast fall to 0.3%. US unemployment claims followed this trend and improved when the predictions foresaw a worse result. The final data-of-influence in the day was the Philly Fed manufacturing index, which saw a significant fall from 40.8 to 24.5. At 09:30 this morning, the Public Sector Net Borrowing figures out of the UK are due to be released. These will be shortly followed by further UK data in the form of CBI realised sales. With both sets of data forecast to improve, the pound could continue to strengthen against most counterparts. This afternoon’s focus will turn to Canadian data. At 13:30 CPI and retail sales figures are both forecast to fall compared to the previous month and we therefore anticipate the Loonie’s recent gains will be lost and the Canadian dollar could weaken further.

[Tshirt]

€1.2450 today around Torviscas, the same rate as I got the last time I loaded my Caxton card a few weeks ago.

[Ecky Thump]

€1.2450 today around Torviscas, the same rate as I got the last time I loaded my Caxton card a few weeks ago.

At the moment the Pound seems quite strong, so I am also going to top up my Caxton Card, after all it's only 130 days until my next holiday.:cheeky:
marbro8 will be pleased to see that I'm not going to rely on his generosity....Again!:D

[marbro8]

At the moment the Pound seems quite strong, so I am also going to top up my Caxton Card, after all it's only 130 days until my next holiday.:cheeky:
marbro8 will be pleased to see that I'm not going to rely on his generosity....Again!:Dha ha:lol yipppee:D

[Ecky Thump]

ha ha:lol yipppee:D

I thought that €14 should cover the whole holiday.....including tips!:wow:

[marbro8]

I thought that €14 should cover the whole holiday.....including tips!:wow::lol:i have actually left bigger tips than that:lol:

[Tshirt]

€1.25 this morning

[Angusjim]

€1.25 this morning

Just make sure you hae plenty euros for the 3rd:laugh:

[Tshirt]

Just make sure you hae plenty euros for the 3rd:laugh:

I'm on a very strict budget awaiting your arrival, unfortunately I have no control over Maureen's spending or the amount of whisky and lemonade she consumes [emoji4]

[marbro8]

just had a look on ice bank and if i change £1000 i get €1255:)

[Ecky Thump]

GBP/EUR: Currently trading at 1.2736

Public sector net borrowing failed to see Sterling strength as it registered at 13.4B, which was below the forecast 14.8B; traders focused on the rise from 6.4B. Soon after, CBI realised sales data was released and this allowed the pound to gain against the Euro. Registering at 61, this was the strongest growth since 1988. This significant growth was driven by the increased sales over Black Friday and other pre-Christmas shopping.
Today should not bring any surprises with no data of influence due to be released. Currently trading with relative stability, this level trading is likely to continue throughout the week.

Level trading and record high sales data suggests that with Christmas fast approaching, traders have stepped away from their computers and flocked to the streets for last minute shopping. UK CBI realised sales data saw the strongest growth in 26 years after prices were slashed around the UK in Black Friday deals. Sales data overshadowed poor Public Sector Net Borrowing, which released a result £7B above the previous. Today’s trading is unlikely to provide much market excitement as the main focus will lie on New Zealand’s trade balance figures at 21:45. As the New Year approaches, assuming that no unexpected data is released, stable trading looks set to continue.

[martincrabb99]

GBP/EUR: Currently trading at 1.2736

Public sector net borrowing failed to see Sterling strength as it registered at 13.4B, which was below the forecast 14.8B; traders focused on the rise from 6.4B. Soon after, CBI realised sales data was released and this allowed the pound to gain against the Euro. Registering at 61, this was the strongest growth since 1988. This significant growth was driven by the increased sales over Black Friday and other pre-Christmas shopping.
Today should not bring any surprises with no data of influence due to be released. Currently trading with relative stability, this level trading is likely to continue throughout the week.

Level trading and record high sales data suggests that with Christmas fast approaching, traders have stepped away from their computers and flocked to the streets for last minute shopping. UK CBI realised sales data saw the strongest growth in 26 years after prices were slashed around the UK in Black Friday deals. Sales data overshadowed poor Public Sector Net Borrowing, which released a result £7B above the previous. Today’s trading is unlikely to provide much market excitement as the main focus will lie on New Zealand’s trade balance figures at 21:45. As the New Year approaches, assuming that no unexpected data is released, stable trading looks set to continue.

I was beginning to wonder....

[Ecky Thump]

GBP/EUR: Currently trading at 1.2736

Public sector net borrowing failed to see Sterling strength as it registered at 13.4B, which was below the forecast 14.8B; traders focused on the rise from 6.4B. Soon after, CBI realised sales data was released and this allowed the pound to gain against the Euro. Registering at 61, this was the strongest growth since 1988. This significant growth was driven by the increased sales over Black Friday and other pre-Christmas shopping.
Today should not bring any surprises with no data of influence due to be released. Currently trading with relative stability, this level trading is likely to continue throughout the week.

Level trading and record high sales data suggests that with Christmas fast approaching, traders have stepped away from their computers and flocked to the streets for last minute shopping. UK CBI realised sales data saw the strongest growth in 26 years after prices were slashed around the UK in Black Friday deals. Sales data overshadowed poor Public Sector Net Borrowing, which released a result £7B above the previous. Today’s trading is unlikely to provide much market excitement as the main focus will lie on New Zealand’s trade balance figures at 21:45. As the New Year approaches, assuming that no unexpected data is released, stable trading looks set to continue.


Sorry for break in service Mr. martincrabb99 but no daily reports on Sat/Sun....Morning service Mon-Friday's only.:laugh:

For tfs1 these are the CaxtonFX reports that we were discussing yesterday.:)

[tfs1]

thanks for including me in your post.

[kingbaker]

Wott yer copy and paste finger only works mon to fri:p

[Ecky Thump]

Wott yer copy and paste finger only works mon to fri:p

Sorry yes that's how it goes, but if you work it out that's over two hundred and fifty highly technical operations a year that I attend to!:crylaughing:

[kingbaker]

I'm only gonna say this once
Man up and.. ...
JOIN THE EURO......you know you want to;)

[Tshirt]

€1.25 still

[Ecky Thump]

GBP/EUR: Currently trading at 1.2739

Today will be the busiest day for the UK for the rest of 2014 and as such trading will focus on these releases. This morning will bring the most recent UK current account figures, forecast to improve from -23.1B to -21.1B, it would not come as a big surprise if the deficit narrowed more than expected after net borrowing was below forecasts last week. Following this, BBA mortgage approvals and Final GDP will be released. Final GDP is likely to remain stable at 0.7% as has been the trend recently and BBA mortgage approvals has been predicted to improve from 37.1K to 37.3K.
Whilst Sterling has the potential to improve against the Euro on the back of this data, level trading that has been seen previously is likely to continue.


With Christmas only two days away, today will be our last day of the week with releases out from all countries. The US existing home sales figures, which were released yesterday afternoon, saw the dollar weaken across the majors as the data fell below forecasts by over 0.25 million. Today’s trading will focus on the UK current account at 09:30, the Canadian and US GDP releases at 13:30 and the US new home sales data at 15:00. A busy day should allow for market excitement before Christmas is upon us. Tomorrow’s highlight will be US unemployment, forecast to worsen from 289K to 291K, it is unlikely for traders to react too quickly to this release.
As this is our last report of the year we want to wish Merry Christmas and a Happy New Year to all our readers!

[kingbaker]

And all Eckys readers....the poor gits:p

[Tshirt]

€1.26 today, AngusJim will be pleased

[Terrynsue]

Java across from Iceland (pdla) 127.2 this morning!

[Ecky Thump]

GBP/EUR:Currently trading at 1.2794

The year began with heavy volatility as the Euro plummeted against the pound by two cent before regaining all lost ground. As Greece failed to elect a president, they were forced into a snap election and the Euro fell. The pound was unable to hold onto its gains as this pair broke the 1.29 mark last Friday and the Euro fully recovered with the help of poor manufacturing PMI data out of the UK.
This morning has seen the pound resist further Euro gains as weak Spanish unemployment change figures emerged. With German preliminary CPI (which is expected to improve) due to be released throughout the day and UK construction PMI having fallen this morning, we may see another day of Euro gains.

Last Friday saw UK manufacturing PMI fall to 52.5 from 53.3, which fuelled traders with more pessimism to continue their Sterling sell-off. As Greece failed to elect Stavros Dimas as president, the country was forced into a snap election, which will be held on January 25th. As Merkel’s government insisted that Greece stick to their commitments (despite commenting that the Eurozone could cope if a Greek exit ("Grexit") occurred), Draghi poured an excessive amount of salt on Germany’s wounds by giving an exclusive interview to the German paper, Handelsblatt. In what could be considered an undiplomatic (Germany is strongly opposed to QE) approach, Draghi told the paper that the Eurozone banks are now preparing for new measures in early 2015, a strong hint that QE is about to start. As volatility erupted in the markets we can expect a busy week ahead fuelled with speculation. In the short-term, UK construction PMI has fallen from 59.4 to 57.6 and Sterling is unlikely to see a recovery anytime today.

[Ecky Thump]

GBP/EUR: Currently trading at 1.2763

Yesterday’s German Preliminary CPI data failed to live up to expectations and provided the market with another 0.0% release, the same as last month. High hopes that a positive figure could lend some aid to the flagging euro were quickly dispelled with this release. The UK Construction PMI was this pairing’s saving grace as a lower than expected figure kept the pound on the back-foot and kept the rate below 1.28
This morning’s UK Services PMI data will set the tone for the day, a positive sterling figure here could push the rate back up closer to 1.29.

Yesterday saw no change to global trends with the euro still struggling under severe pressure and the dollar continuing its gains. German CPI was one of the highlights of the day and sadly disappointed with a figure of 0.0%, whilst the market had harboured hopes for a positive figure. UK Construction PMI was the other release of note and whilst it still showed expansion, the rate of at which this sector expanded slowed, weighing heavily on the pound and keeping it softer throughout the session. This morning’s main data release is the all-important UK Services PMI figures which are forecast to improve, if this happens it will certainly cause a much needed boost to the pound’s strength.

[Tshirt]

€1.26 in Torviscas still

[Ecky Thump]

€1.26 in Torviscas still


Caxton at the moment are offering 1.2470, if it rises any more today I might top up my card with the £361 that the UK Tax man kindly gave me today.......a few meals out in The Tenerife Sunshine in April!!:D

[martincrabb99]

Caxton at the moment are offering 1.2470, if it rises any more today I might top up my card with the £361 that the UK Tax man kindly gave me today.......a few meals out in The Tenerife Sunshine in April!!:D

What! The Taxman gave you some money lol

[Ecky Thump]

GBP/EUR Currently trading at 1.2752

UK Services PMI figures took the market by surprise yesterday with a far lower figure than expected. The release showed a marked slowing of the rate of expansion within the UK Services sector and is a definite cause for concern among market players.
Today brings the Eurozone’s CPI Flash Estimate which is predicted to drop, in line with recent pressures and headlines in the media. Yesterday’s PMI figures kept the pound softer and stopped movements towards 1.28 and above, could this morning’s CPI data provide the spark instead?


Services PMI from the UK followed the same path as Construction on Monday and failed to provide the hoped for sterling rally. Services PMI showed a strong slowing in the rate of expansion with a figure of 55.8, down from the last reading of 58.6. Today brings a busier day on our data calendars with the Eurozone’s CPI Flash estimate this morning and then US data dominating the spotlight. Unsurprisingly, the Eurozone’s CPI is forecast to be poor but all eyes will turn to this afternoons US Trade Balance data and Fed meeting minutes later this evening.

[Tshirt]

This morning in Torviscas some are still offering €1.26 while others have dropped the rate to €1.255

[tfs1]

Caxton is offering 1.2470, not overly generous but took a small chunk nevertheless to lock in this rate.

[Ecky Thump]

GBP/EURO: Currently Trading at 1.2759

Eurozone CPI Flash Estimate figures were released yesterday, providing a very disappointing figure of -0.2% down from 0.3%. Having said that, recent UK PMI figures are weighing heavily on the pound and whilst we favour the pound over the euro in the longer-run, we are starting to see volatility in the short term.
Today brings the release of the UK MPC votes and potentially a rate statement should anything change. All bets are on the votes remaining the same and this rate should trade sideways for today’s session.

Yesterday’s session was dominated by impressive US data that helped push the dollar higher against its counterparts. The US trade balance showed great progress from last month’s reading of -42.2B to this month’s -39.0B, a clear sign that the deficit is starting to improve. Coupling this with mounting pressures on the UK and Eurozone economies and we are starting to see the fabric of resistance against the US dollar unravel. Today brings a quieter day on the calendar with UK Bank of England votes on the interest rate and US unemployment claims in the afternoon. Whilst the US dollar is cementing its place as king, the only potential opportunity for a sterling come-back is if the US non-farm employment data tomorrow proves extremely weak. Whilst this is a possibility, today’s session will see current trends continue and we expect to see the dollar continue to throw its weight around.

[marbro8]

GBP/EURO: Currently Trading at 1.2759

Eurozone CPI Flash Estimate figures were released yesterday, providing a very disappointing figure of -0.2% down from 0.3%. Having said that, recent UK PMI figures are weighing heavily on the pound and whilst we favour the pound over the euro in the longer-run, we are starting to see volatility in the short term.
Today brings the release of the UK MPC votes and potentially a rate statement should anything change. All bets are on the votes remaining the same and this rate should trade sideways for today’s session.

Yesterday’s session was dominated by impressive US data that helped push the dollar higher against its counterparts. The US trade balance showed great progress from last month’s reading of -42.2B to this month’s -39.0B, a clear sign that the deficit is starting to improve. Coupling this with mounting pressures on the UK and Eurozone economies and we are starting to see the fabric of resistance against the US dollar unravel. Today brings a quieter day on the calendar with UK Bank of England votes on the interest rate and US unemployment claims in the afternoon. Whilst the US dollar is cementing its place as king, the only potential opportunity for a sterling come-back is if the US non-farm employment data tomorrow proves extremely weak. Whilst this is a possibility, today’s session will see current trends continue and we expect to see the dollar continue to throw its weight around. the dollar may be on the up but my mate just got back from new york and it cost him $47 for 3 halves of lager and a coke:wow::lol:

[warbey]

the dollar may be on the up but my mate just got back from new york and it cost him $47 for 3 halves of lager and a coke:wow::lol:

Costs an arm and a leg to go and get them too M8....................:D:D :devil:

[TOTO 99]

the dollar may be on the up but my mate just got back from new york and it cost him $47 for 3 halves of lager and a coke:wow::lol:

I can't believe that you've got a mate that drinks halves..or coke......:lol:

[Ecky Thump]

GBP/EUR: Currently trading at 1.2814

The pound retook some lost ground in yesterday’s session, pushing back above the 1.28 mark. Its hold on this level is looking tentative though as we look to this morning’s UK Manufacturing data for further support.
A quiet end to the week for Eurozone data and if the upcoming manufacturing figures provide support for the pound, there is nothing to stop it gaining further ground against a weakened euro.

Yesterday's session generally saw current trends continue, although the pound is starting to look slightly firmer this morning. Yesterday’s Bank of England meeting brought no surprises and the 0.5% Bank Rate was maintained. Today provides a very active end to the week on our data calendars, kicking off with UK Manufacturing Production. Forecast to increase to 0.4% from -0.7%, this could put the pound in a very bellicose mood. Later this afternoon we have a host of Canadian data including Building Permits and Unemployment/Employment data but the headline of the day will definitely be the US Non-Farm Employment change at 13:30. This is the key indicator of the US labour market’s health and as such, will set the tone for next week’s trading. A positive figure here will allow the dollar to continue its offensive against its counterparts but a negative figure would cast a net of uncertainty over the greenback, which its rivals would be sure to capitalise on.

- - - - - - - - - - merged double post - - - - - - - - - -


Caxton is offering 1.2470, not overly generous but took a small chunk nevertheless to lock in this rate.


Slightly up at the moment at €1.2510..... Very tempting to put in a few of the wife's pounds before she wastes it on things like food!:lol:

[Ecky Thump]

GBP/EUR: Currently trading at 1.2814

After better than expected manufacturing production data out of the UK on Friday, the pairing managed to strengthen and go above the 1.28 mark, providing some relief from the negative set of data which greeted the Pound at the beginning of the year. With no announcements out of the UK or Euro-zone today, all eyes will be on the important inflation figures from the Bank of England tomorrow.
If inflation drops to 0.7% from 1% as forecast, then it is likely that we will see Sterling weaken and thus provide a much needed break for the Euro. We therefore expect a fairly range bound day of trading today, with much volatility anticipated for tomorrow.


With data on the lighter side during this week, there has been muted trading to start off the day. Sterling finished the week last week with manufacturing production data m/m coming in above expectations at 0.7%. This helped give Sterling a boost on Friday to trade up against most pairings going into the weekend. Oil prices have fallen even lower which has driven fears that it represents a slowing global demand, and some investors have taken profits on long dollar positions as a result. The greenback has started the week off in a weaker position overall thanks to speculation that this latest drop in oil prices may eventually lead to the Federal Reserve to push back the interest rate rise it has planned for this year.

Today Caxton are offering €1.2660 to the pound.

[tfs1]

GBP/EUR: Currently trading at 1.2814

After better than expected manufacturing production data out of the UK on Friday, the pairing managed to strengthen and go above the 1.28 mark, providing some relief from the negative set of data which greeted the Pound at the beginning of the year. With no announcements out of the UK or Euro-zone today, all eyes will be on the important inflation figures from the Bank of England tomorrow.
If inflation drops to 0.7% from 1% as forecast, then it is likely that we will see Sterling weaken and thus provide a much needed break for the Euro. We therefore expect a fairly range bound day of trading today, with much volatility anticipated for tomorrow.


With data on the lighter side during this week, there has been muted trading to start off the day. Sterling finished the week last week with manufacturing production data m/m coming in above expectations at 0.7%. This helped give Sterling a boost on Friday to trade up against most pairings going into the weekend. Oil prices have fallen even lower which has driven fears that it represents a slowing global demand, and some investors have taken profits on long dollar positions as a result. The greenback has started the week off in a weaker position overall thanks to speculation that this latest drop in oil prices may eventually lead to the Federal Reserve to push back the interest rate rise it has planned for this year.

Today Caxton are offering €1.2660 to the pound.

sadly now down to 1.252 to load currency card

[Ecky Thump]

sadly now down to 1.252 to load currency card


I thought it strange this morning that they were offering 1.2660 when the bank exchange rate was the same as Friday's and at that point they were offering 1.2510???

[Ecky Thump]

GBP/EUR: Currently trading at 1.2786

The pound gained almost a cent on the Euro yesterday as no data was released from either the UK or Eurozone. After breaking the 1.284 mark, the pound met resistance and the Euro began to resist Sterling’s advances. Weak monthly German WPI data this morning failed to impact upon this pairing and the pound continued to weaken in anticipation of this morning’s CPI release.
UK inflation today is predicted to fall to 0.7% from 1.0%. This result will lead Carney to write an open letter to the chancellor explaining why inflation has fallen more than 1.0% below the target rate. Traders will pore over this letter for details of why inflation has fallen so low and when we can expect a recovery. Whilst the first question is simpler to answer, as oil continues to fall so too does CPI, the second will take priority as traders concerns grow over the looming risk of deflation. Low CPI may be a good thing for consumers in the near-term but we still anticipate Sterling weakness immediately after the actual result is released.


Yesterday’s trading focused around a slight dollar sell-off and global risk appetite decreasing as a result. A quiet day in terms of data yesterday saw the highlights of the day being the release of the Canadian business outlook survey and the new FOMC member Lockhart speaking in the afternoon. The Canadian outlook was fairly negative due to falling oil prices impacting upon the energy sector and the Loonie fell as a result. Lockhart’s words failed to impact upon the US dollar which weakened throughout the day. Today will focus on the UK CPI, which will be released at 09:30. Forecast to fall from 1.0% to 0.7%, Sterling weakness is likely to be seen in the near-term as traders weigh in the possibility of deflation.

Today Caxton Fx are offering €1.2550 to the £

[Ecky Thump]

GBP/EUR: Currently trading at 1.2886

UK inflation held the focus for yesterday’s trading and it certainly did not disappoint. Predicted to drop off from 1.0% to 0.7%, CPI actually fell to 0.5%. Having fallen more than 1.0% below target, Carney now has to write a letter to the chancellor explaining the reason for this fall and what the bank will do to about it. The pound gained a cent on the euro immediately after this result and this is a strong sign of optimism in the economy as traders focused on the benefits of low inflation and not the negatives of deflation.
With no data out of either country today, our focus will be on Carney speaking this afternoon. Volatility is usually seen around Carney’s speeches and after yesterday’s low figures we expect this trend to continue.

The pound gained against all of its peers yesterday as UK inflation fell to 0.5%. After days of Sterling weakness the pound received support and bounced back against counterparts. This CPI result signifies the first time in the MPC’s history that the head of the Bank of England has had to write a letter to the Chancellor detailing the cause of this fall in inflation. Sterling saw a ‘buy the fact’ reaction after traders possibly anticipated a lower result, especially as few analysts think CPI has hit its low. Today’s trading will focus on Carney’s comments on the financial stability report (14:15), which will be released shortly after US retail sales figures (13:30). A volatile day can be expected as Carney’s words tend to bring
speculation.

Today Caxton Fx are offering €1.2590 to the £

[tfs1]

Just did a transfer from HSBC to Banco Popular at 1.2830 - no fees, bank pensioner - my only perk !

[Ecky Thump]

Just did a transfer from HSBC to Banco Popular at 1.2830 - no fees, bank pensioner - my only perk !

Caxton must be following this thread, since you posted they have upped their offer to €1.2600 :D

[tfs1]

Caxton must be following this thread, since you posted they have upped their offer to €1.2600 :D

happy to do my bit for fellow forumers - is that the plural for us lot ?

I ask as I see Al Murray is standing against Nigel F in Kent, Al Murray has formed the Free United Kingdom party and wondered what his followers would be called !

sorry - we are now way way off topic !!!!!!

[tfs1]

Caxton must be following this thread, since you posted they have upped their offer to €1.2600 :D

A little disappointing that its still 1.2600 even with the rate being 1.30 and even a tad higher than that during the late morning.

update 13.45 - since writing the above the Caxton rate has moved up to 1.2730 - maybe they do read this thread ! Took the chance to get some more at this rate.

[marbro8]

A little disappointing that its still 1.2600 even with the rate being 1.30 and even a tad higher than that during the late morning.

update 13.45 - since writing the above the Caxton rate has moved up to 1.2730 - maybe they do read this thread ! Took the chance to get some more at this rate.thanks for that just got 1.2780 from ice bank, cost me £1001 for €1280:tiphat:

[Ecky Thump]

A little disappointing that its still 1.2600 even with the rate being 1.30 and even a tad higher than that during the late morning.

update 13.45 - since writing the above the Caxton rate has moved up to 1.2730 - maybe they do read this thread ! Took the chance to get some more at this rate.



This morning Caxton Fx are offering €1.2750 to the £.


*As a comparison ICE Bank are only offering €1.2304 to the £ on their travel card.*


Sincere apologies for not giving yesterday's daily report, my family made unrealistic demands on my ailing body, normal service should recommence in the very near future.:cheeky:

[Sundowner]

Just got €1.2894 with weswap.com on their travel card.

[kingbaker]

This morning Caxton Fx are offering €1.2750 to the £.


*As a comparison ICE Bank are only offering €1.2304 to the £ on their travel card.*


Sincere apologies for not giving yesterday's daily report, my family made unrealistic demands on my ailing body, normal service should recommence in the very near future.:cheeky:

'Normal'......I don't think so.:p

[tfs1]

Caxton FX now offering 1.2800 - can anybody advise what the rate is in Tenerife ?

Just taken another small chunk with HSBC into our Banco Popular account at 1.305254

[Ecky Thump]

GBP//EUR: Currently trading at 1.2830

Yesterday saw this pair break the 1.30 mark and the pound hold onto these gains. Still trading above 1.30 now, this pair has broken the resistance level and is trading within a tight range. After the SNB broke the news that they were leaving the 1.20 floor for EUR/CHF, the euro plummeted against all counterparts. The euro received some support after the president of Bundesbank, Weidmann, continued to fight against QE, highlighting the ECJ’s limitations and convincing traders that he wouldn’t just step aside for Draghi. With the SNB displaying signs of fear about next week’s QE announcement and Weidmann warming up for a fight, next week’s meeting should bring a lot of excitement.
As traders continue to react to yesterday’s news, the euro is likely to keep falling. In anticipation of the ECB conference next week, this negative trend is likely to prevail.

The Swiss National Bank (SNB) shocked the markets yesterday as an emergency meeting announced the end to the EUR/CHF cap and an adjustment of the Libor rate to -0.75%. In a move that was dubbed ‘Francogeddon’, this was surely a sign that the bank feared the effects of QE on the Swiss economy and were trying to get out before it was too late. The Chairman of the bank, Thomas Jordan, denied that his judgement was a “panic reaction” and claimed it was a “well-considered decision”. Jordan, who was described as ‘possibly the most-hated man in FX’ yesterday, claimed that it was important for the bank to act quickly once it was clear that the policy was no longer sustainable. This immediately raised speculation that Jordan was tipped off (by Draghi himself?) that QE was guaranteed next week. Whilst this may seem slightly questionable, it is more likely Jordan was reacting to the European Court of Justice’s (ECJ) ruling that QE is legal in the Eurozone. The franc, which was previously considered a safe-haven currency (before the EUR/CHF cap), now has the potential to regain its safe-haven status once the markets have settled down (as Jordan assures they will soon). The franc fell over 25% against all peers and the euro plummeted against all counterparts. As the Eurozone continues to post poor data, the Bundesbank prepares to fight the ECB over QE and discord continues to spread throughout, economists will now be questioning whether yesterday marked the beginning of the end of the Eurozone…

[bulldog]

Just got €1.2894 with weswap.com on their travel card.

Hi Sundowner.never heard of weswap.com have they been around long ? read the info on their site they need to match you with
someone who needs pounds seems a bit weird.

[Sundowner]

Hi Sundowner.never heard of weswap.com have they been around long ? read the info on their site they need to match you with
someone who needs pounds seems a bit weird.
Hi bulldog
They are newish ....read this review ...http://www.worldwideinsure.com/travel-blog/2014/09/weswap-review-travel-app-of-the-month-sept-2014/
I have only just joined them, and as they are new I had to rely on reviews to make my decision to join.1st transaction went smoothly:-)

[Ecky Thump]

Currency Card Rates.......

Today Caxton Fx are offering €1,2800 to the £

Today Ice Bank are offering €1.2304 to the £

[Tshirt]

:tiphat:

Just loaded my caxton card at €1.2920

[Ecky Thump]

GBP/: Currently trading at 1.3071


Volatility carried through to Friday’s session as this pair opened trading at the 1.304 mark. Spiking to highs of 1.3165 as a result of a EUR/USD sell-off following strong US data, this trend is likely to be repeated leading up to the ECB conference on Thursday.
With no UK data due out today our focus will be on the Bundesbank monthly report this morning. If this report is more hawkish than expected, we may see the euro recover a little after strong Sterling gains.


Last Friday saw the week’s volatility finally being subdued as the markets weighed in the repercussions of the SNB’s decision to remove the Franc cap. Trading focused on US data, which was generally weak throughout the day. Despite this, traders focused on the preliminary University of Michigan consumer sentiment survey, which saw an 11-year high of 98.2. Global risk appetite increased as a result and higher-yielding currencies saw strength towards the end of the day. Today’s trading should be rather quiet compared to last week and our main focus will be on the German Bundesbank (Buba) monthly report at 11:00. After the European Court of Justice’s (ECJ) ruling last week, it will be interesting to see if the Buba report delves into the next stage of resistance for the Bundesbank against the ECB’s impending QE decision.

- - - - - - - - - - merged double post - - - - - - - - - -


:tiphat:

Just loaded my caxton card at €1.2920

Well done I loaded on mine on Friday evening with a few of the wife's hard earned shekels and got €1.2840:crying2:....You did well to wait.:doh:

[languagefan]

Hi
Just a quick one that GBP/Eu has risen above 1.30 today for the first time throughout last four years. Good opportunity for those who want to exchange to Euros.

[Ecky Thump]

GBP/EUR: Currently trading at 1.3057

The euro gained against the pound throughout yesterday’s session, briefly pushing the pair below the 1.301 support level this morning before Sterling managed to resist. This morning’s monthly German PPI figures saw a fall of 0.7% and helped support Sterling’s gains.
Eurozone data steals the spotlight today; with German ZEW economic sentiment this morning forecast to rise from 34.9 to 40.1, the euro could attempt another advance toward 1.30.

Another quiet day yesterday saw range-bound trading throughout the day. The pound saw weakness in the early afternoon but has recovered all lost ground this morning. Traders received some encouragement this morning in the form of strong Chinese data, which has shown steady growth across the industrial sector. Worries of a Chinese slowdown were temporarily subdued as commodity currencies saw strength as a result. Today we will look towards German ZEW economic sentiment at 10:00 then to Canadian manufacturing sales at 13:30. With the ECB meeting only two days away and tension continually increasing between the ECB and Bundesbank, it may be possible that the German sentiment figure registers as more pessimistic than forecast.

Today Caxton Fx card rate is €1.2750 to the £

Today Ice Bank card rate is €1.2304 to the £

[Ecky Thump]

GBP/EUR: Currently trading at 1.3095

The pound continued to climb yesterday, gaining almost two cent on the euro throughout the day. Eurozone data, which saw strong figures, failed to limit the pound’s advances. German ZEW economic sentiment rose to 48.4 from 34.9 and Eurozone ZEW economic sentiment rose to 45.2 from 31.8. The German result was the highest reading for 11-months and was led by confidence in exports. A weak euro and strong domestic readings have allowed German exports to thrive.
The UK is back in the spotlight today with employment figures out this morning. Average earnings index is forecast to rise to 1.7% from 1.4% and claimant count change is predicted to rise to -24.2K from -26.9K. The former result may take precedence in the light of recent CPI data and the pound could therefore continue to strengthen throughout the day.

A few days out of the spotlight proved beneficial for the pound as it rose almost two cent against the majority of its counterparts yesterday. As UK figures were put on the backburner in the midst of speculation surrounding the ECB meeting tomorrow, the UK is firmly back on centre stage as employment figures are due out today. At 9:30, average earnings index, claimant count change and the MPC official bank rate vote are due to be released. Traders will likely set their focus on the average earnings index, which holds more importance after recent low inflation figures. The official bank rate vote is likely to remain at two votes to increase rates and nine votes to hold rates. Ahead of the ECB meeting tomorrow, analysts have been predicting the amount of money the ECB will print as part of their stimulus plan. As new forecasts emerge, volatility spikes in euro pairings and we anticipate this trend will continue throughout today’s session.

Today Caxton FX card rate is €1.275 to the £

Today Ice Bank. card rate is 1.2304 to the £

[admin]

Hi
Just a quick one that GBP/Eu has risen above 1.30 today for the first time throughout last four years. Good opportunity for those who want to exchange to Euros.

I have merged your thread with an existing one on the same subject. You may find the information you are looking for if you read through some of the previous posts. :)

[Ecky Thump]

GBP/EUR: Currently trading at 1.3050

As the MPC cut interest rates yesterday, the pound immediately fell one and a half cent against the euro. The euro’s gains failed to hold as traders quickly turned their attention to the positive employment figures that raised optimism once again. Average earnings index 3m/y increased to 1.7% from 1.4%, as earnings outpace inflation, consumer confidence increases as spending money rises.
All focus today will be on the ECB meeting this afternoon. Whilst the general consensus is that the arrival of QE has been widely priced into the markets, if the amount Draghi announces is below predictions, we may see another euro slump.


In a surprising move, the two hawks of the BoE’s monetary policy committee (MPC) voted to hold interest rates for the first time in six months. A unanimous vote to hold rates at the current level saw the pound fall against all counterparts as analysts concurred that an interest rate hike isn’t likely to happen until 2016. The pound quickly recovered all lost ground as the markets adjusted to this news and employment data came into the spotlight. The action didn’t stop there, across the pond the Bank of Canada cut their overnight rate from 1.00% to 0.75% and the Loonie fell four cent against the pound. Volatility is likely to continue into today’s session as the ECB press conference is finally upon us. As full-blow quantitative easing is expected to be announced, economists will be furiously debating the conditions of this stimulus plan. How much money will Draghi pump into the economy? How much pressure will be placed on central banks? Did the recent ECB stress tests account for this new amount of pressure? How far can Germany be pushed? All these questions and more should be answered (or swiftly avoided) by Draghi at 13:30 today in an hour long conference.

[universal]

Euribor rates may also be of interest to some, especially those with linked mortgages............ (note the short term minus figures)

Current Euribor interest rates:
In the following table we show the latest Euribor rates. For more information, click on the links in the table.

Important notice: due to a change of policy by the Euribor EBF organisation, as of March 1th 2014 euribor rates are available to the general public with a 24 hour delay only. No website or other source is allowed to publish realtime Euribor data anymore publically.

Euribor 01-21-2015 01-20-2015 01-19-2015 01-16-2015 01-15-2015
Euribor 1 week -0,057 % -0,059 % -0,056 % -0,051 % -0,049 %
Euribor 2 weeks -0,036 % -0,039 % -0,038 % -0,033 % -0,032 %
Euribor 1 month -0,004 % -0,005 % -0,002 % 0,002 % 0,007 %
Euribor 2 months 0,022 % 0,024 % 0,026 % 0,031 % 0,038 %
Euribor 3 months 0,055 % 0,055 % 0,056 % 0,060 % 0,069 %
Euribor 6 months 0,141 % 0,142 % 0,145 % 0,152 % 0,161 %
Euribor 9 months 0,213 % 0,214 % 0,217 % 0,224 % 0,235 %
Euribor 12 months 0,283 % 0,284 % 0,289 % 0,299 % 0,313 %

[lesbroz]

Euribor rates may also be of interest to some, especially those with linked mortgages............ (note the short term minus figures)

Current Euribor interest rates:
In the following table we show the latest Euribor rates. For more information, click on the links in the table.

Important notice: due to a change of policy by the Euribor EBF organisation, as of March 1th 2014 euribor rates are available to the general public with a 24 hour delay only. No website or other source is allowed to publish realtime Euribor data anymore publically.

Euribor 01-21-2015 01-20-2015 01-19-2015 01-16-2015 01-15-2015
Euribor 1 week -0,057 % -0,059 % -0,056 % -0,051 % -0,049 %
Euribor 2 weeks -0,036 % -0,039 % -0,038 % -0,033 % -0,032 %
Euribor 1 month -0,004 % -0,005 % -0,002 % 0,002 % 0,007 %
Euribor 2 months 0,022 % 0,024 % 0,026 % 0,031 % 0,038 %
Euribor 3 months 0,055 % 0,055 % 0,056 % 0,060 % 0,069 %
Euribor 6 months 0,141 % 0,142 % 0,145 % 0,152 % 0,161 %
Euribor 9 months 0,213 % 0,214 % 0,217 % 0,224 % 0,235 %
Euribor 12 months 0,283 % 0,284 % 0,289 % 0,299 % 0,313 %

I got 1.285 in San Blas Commercial centre this afternoon.

[Ecky Thump]

Currently Caxton Fx are offering €1.2890 to the £ when you load your euro debit card.

Ice Bank are offering €1.2627 to the £ when you load your euro debit card.

[marbro8]

Currently Caxton Fx are offering €1.2890 to the £ when you load your euro debit card.

Ice Bank are offering €1.2627 to the £ when you load your euro debit card.i ordered some more euros yesterday from ice bank, got €1280 and it cost me £1004:wink:

[Ecky Thump]

i ordered some more euros yesterday from ice bank, got €1280 and it cost me £1004:wink:

Is that the Ice Bank euro cash delivery service?

[tfs1]

currently 1.3211 and still rising (1.3227 @ 2104)

[tfs1]

touched 1.33 this morning

[Ecky Thump]

GBP/EUR: Currently trading at 1.3280

Draghi’s speech saw the euro plummet against the pound and this pair managed to breach 1.323 in this morning’s session. With the Greek elections coming up on Sunday, we anticipate another day of volatility, possibly with the pound covering more ground against the euro. Draghi’s words promised a larger-than-expected stimulus plan, whilst compromising with Germany so that central banks would bear the risks that this plan could present.
Early morning Eurozone data has seen French flash manufacturing PMI rise to 49.5 whilst German flash manufacturing PMI fell to 51.0. The pound’s gains could continue throughout the day, despite UK figures predicted to drop off this morning. As the pound continues to climb on the euro, traders will be considering whether 1.33 could soon be broken.

Draghi came, Draghi saw, and three and a half years later, Draghi implemented QE. Whether or not he conquered, remains to be seen. Wasting no time yesterday, he announced the purchase of sovereign bonds less than a minute into his speech. As sources ‘in the know’ ardently claimed the plan would involve pumping €50Bn a month into the economy, Draghi in fact announced a scheme of €60Bn a month from March 2015 to September 2016 (totalling €1.1trn). Despite this total figure being larger than the ECB need to meet their goal of expanding their balance sheet by €1trn, analysts are already claiming that it won’t be enough to raise inflation. Draghi himself stated that structural reforms were necessary within all Euro-area countries, a phrase he has repeated several times over the past few years. The euro slumped against all counterparts yesterday as Draghi’s plan exceeded predictions. Data today is unlikely to have too much affect as analysts continue to asses Draghi’s words, reports on the conference are more likely to create impact. At 09:30, retail sales from the UK are forecast to fall to -0.6% from 1.6%, a low prediction but not a surprising one as shops were deserted after Black Friday sales. At 13:30, Canadian monthly CPI is forecast to fall to -0.5% from -0.4% however after the BOC report earlier in the week, this is likely to have already been priced into the markets. With the Greek election on Sunday, volatility could continue throughout today’s session.



At the moment Caxton are offering €1.2910 to the £ when you load your debit card.

I wonder if it will hit the magical €1.30 ??

- - - - - - - - - - merged double post - - - - - - - - - -

I've just had a email from CaxtonFx...........



GBP/EUR rate climbs to a 7 year high

If you’re planning a half term getaway or any other upcoming holiday, now could be a great time to load your card.

To load your card, log in to your account or do it directly from the Caxton FX app.

LOAD MY CARD

DOLLAR RATE: 1.4640

EURO RATE: 1.3050

[tfs1]

intraday high, so far, of 1.3460

[Ecky Thump]

L
intraday high, so far, of 1.3460

That's it, I've made my mind up, another £200 or £300 now going on my Caxton card......Scottish Gas will have to wait for their money!!:laugh:

[martincrabb99]

L

That's it, I've made my mind up, another £200 or £300 now going on my Caxton card......Scottish Gas will have to wait for their money!!:laugh:

Go for it! I'm going to get one of these cards on my return!

[Ecky Thump]

Go for it! I'm going to get one of these cards on my return!

Apart from being a secure way to keep your holiday money, it also adds a bit of fun (Fun and Money in Scotland doesn't sound right!:laugh: ) in following the rate of exchange and loading the card when you have some spare cash, plus when it comes time for the holiday the money is there ready for you in euros.:)

[marbro8]

Is that the Ice Bank euro cash delivery service?yes mate, i paid extra 99p for saturday delivery:)

[bulldog]

L

That's it, I've made my mind up, another £200 or £300 now going on my Caxton card......Scottish Gas will have to wait for their money!!:laugh:

Hi Ecky,what commision do Caxton take ? weswap take 1% Caxton won,t let me join because I reside outside the U.K. even though I have a U.K.
bank account and debit card, yet weswap O.K. if your in Europe

[Ecky Thump]

Hi Ecky,what commision do Caxton take ? weswap take 1% Caxton won,t let me join because I reside outside the U.K. even though I have a U.K.
bank account and debit card, yet weswap O.K. if your in Europe

Caxton's exchange rate is always within 2-3 cents of the official bank rates, after that there are no charges whatsoever on the debit card at ATM's throughout Europe and it can be used anywhere that displays the Visa sign.
At the moment the Caxton rate of exchange is €1.3020 to the £.

[tfs1]

Caxton's exchange rate is always within 2-3 cents of the official bank rates, after that there are no charges whatsoever on the debit card at ATM's throughout Europe and it can be used anywhere that displays the Visa sign.
At the moment the Caxton rate of exchange is €1.3020 to the £.

ET - Re Caxton, can you get a balance at the ATM when you take money out, do you get the option of calculating the withdrawal in GBP/€ as you do when using a UK GBP card in an overseas ATM ?

I ask because the Caxton card I have recently got will be used for the first time by our grandson when he goes to Berlin on a college trip which is after we go to Tenerife next week.

I ask about the balance as we will tell him the card has €200 on it, in fact it will have significantly more than that and if he knows he may treat his mates to a good time !

I know the card holds € value but want to give him as much help and advise on what to expect before he uses it and wondered if the gbp v € option is given even though the withdrawal will be € and the card hold €'s

[Ecky Thump]

ET - Re Caxton, can you get a balance at the ATM when you take money out ?

Yes, at some ATM's operated by the major banks, but I've never seen a balance displayed and not at any ATM's outside of shops etc. but all ATM's give withdrawal receipts.

At no time in Europe will a pound option show....it's purely in euros.

If you have a smart phone Caxton operate a secure App, which if you tell your Grandson the password, he can see when you deposit money into the account.

[tfs1]

Yes, at some ATM's operated by the major banks, but I've never seen a balance displayed and not at any ATM's outside of shops etc. but all ATM's give withdrawal receipts.

At no time in Europe will a pound option show....it's purely in euros.

If you have a smart phone Caxton operate a secure App, which if you tell your Grandson the password, he can see when you deposit money into the account.

ET - many thanks for the info. Our grandson will probably have enough cash to last him, the caxton card should only be needed for a cash topup or emergency money if needed.

I'm sure he will find/tell us everything was expensive and had to make use of the card - but hey its only money. If he doesnt spend it we will !

[essexeddie]

I got 1.3288 using my Metro Debit card today in LC at an ATM. With no charges.

[Ecky Thump]

L

That's it, I've made my mind up, another £200 or £300 now going on my Caxton card......Scottish Gas will have to wait for their money!!:laugh:

Well I went one step further,.....N Power can now also wait for their electric money,....Holidays must take priority!:crylaughing:

[marbro8]

one of my mates who owns his own apartment in tenerife, rang me on wednesday, and asked me to order him £1000 of euros from my account with ice bank, it was still paying about €1.28, so i did, he rang me tonight asking me if i had ordered them and if they would pay wednesdays rate or todays??? i said wednesdays rate because that's what it was at the time, he had a bit of a moan saying he could have got €1.29 in west bromwich today??? wtf??? he has lost about €10, honestly some people, they say the one's with money are the most stingy:redcard::laugh:

[Ecky Thump]

I got 1.3288 using my Metro Debit card today in LC at an ATM. With no charges.

Eddie, It looks like things for Metro Debit Card holders are about to change..........


Metro Bank customers heading overseas soon have been dealt a blow after the bank announced plans to start charging for debit and credit card transactions.

Overseas Spending Charges
From 18 March, Metro Bank current account customers will be charged a 1.9% fee each time they use their card, plus £1 every time they withdraw cash in a non-European country. Metro Bank credit card customers will also be hit with the same fees.

On a standard debit card transaction, this adds about £2 to every £100 spent (see our Top Travel Money guide for the best overseas cards).

At present, customers can use their debit and credit cards worldwide without being charged exchange loading or cash withdrawal fees – a benefit which has been available since the bank launched in 2010.

[tfs1]

Eddie, It looks like things for Metro Debit Card holders are about to change..........


Metro Bank customers heading overseas soon have been dealt a blow after the bank announced plans to start charging for debit and credit card transactions.

Overseas Spending Charges
From 18 March, Metro Bank current account customers will be charged a 1.9% fee each time they use their card, plus £1 every time they withdraw cash in a non-European country. Metro Bank credit card customers will also be hit with the same fees.

On a standard debit card transaction, this adds about £2 to every £100 spent (see our Top Travel Money guide for the best overseas cards).

At present, customers can use their debit and credit cards worldwide without being charged exchange loading or cash withdrawal fees – a benefit which has been available since the bank launched in 2010.


ET Isn't the new charges for non Euro countries only, so Eddies will still get the excellant rate without fees ? and unless I have read it incorrectly wasnt this change introduced last year ?

MetroBank is M25/London based bank.

[Sundowner]

L

That's it, I've made my mind up, another £200 or £300 now going on my Caxton card......Scottish Gas will have to wait for their money!!:laugh:
I think I will wait to load my card. I have seen a forecast for 1.55€ in the next 6 months and would be well hacked off if I only got 1.30€

[Ecky Thump]

ET Isn't the new charges for non Euro countries only, so Eddies will still get the excellant rate without fees ? and unless I have read it incorrectly wasnt this change introduced last year ?

MetroBank is M25/London based bank.

You are correct, I've just re-read the article and it does clearly say that these charges are for outside Europe, so essexeddie can relax in the knowledge that at the moment he won't be charged a fee at a ATM within Europe.

I have no idea how to find out the MasterCard daily exchange rate that they set....maybe Eddie can help??

- - - - - - - - - - merged double post - - - - - - - - - -


I think I will wait to load my card. I have seen a forecast for 1.55€ in the next 6 months and would be well hacked off if I only got 1.30€

Or €1.23 and maybe lower.....go on do it now and think of all the €1 pints you can buy.....you know it makes sense.:p

[tfs1]

I think I will wait to load my card. I have seen a forecast for 1.55€ in the next 6 months and would be well hacked off if I only got 1.30€

............. a bird in the hand etc etc

[Ecky Thump]

............. a bird in the hand etc etc

A bird in the hand is worth two on the sun beds!! :devil2:



................................

Today the exchange rate with Caxton Fx Debit Card is €1.3040 to the £.

Ice Bank Debit Card rate is 1.2699 to the £.

[marbro8]

just looked at the ICICI bank and for £1002.46 you get €1315, that's €35 more than i got on wednesday:doh:

[Sundowner]

Or €1.23 and maybe lower.....go on do it now and think of all the €1 pints you can buy.....you know it makes sense.:p[/QUOTE]

I will wait and see what happens to the € after the Greek elections:wink:

[bulldog]

read somewhere billions are going to be pumped in to the Euro Zone to kick start things anyone else heard about this surely if its true it will strengthen the
Euro in the future.

[Sundowner]

read somewhere billions are going to be pumped in to the Euro Zone to kick start things anyone else heard about this surely if its true it will strengthen the
Euro in the future.

They are just printing money 1.1 trillion that will weaken the € that is why the £ will get stronger against the €:wink:

[KirstyJay]

They are just printing money 1.1 trillion that will weaken the € that is why the £ will get stronger against the €:wink:

Isn't it great how they can decide to print money when they like... Can we all do that? Then I wouldn't have to deal with the reality of actually having to work for a living and be responsible for my own achievements or failures... Just like the banks and the European economists. ;)

[marbro8]

They are just printing money 1.1 trillion that will weaken the € that is why the £ will get stronger against the €:wink:we may get up to the height of €1.50 to the pound like we had years ago, great for holidaymakers but as has been pointed out to me before on here not so good for brit pensioners living in tenerife on british pensions:(

[kingbaker]

They are just printing money 1.1 trillion that will weaken the € that is why the £ will get stronger against the €:wink:

And it will adversely affect tbe Brit economy, as it's not doing so well already. British exports will become dearer and less competitive and the tourist industry will be down because of the increased cost of the sterling currency.

Britain has already been printing money and this extra money has to be withdrawn from circulation.

In less than 20 years there will be only a few main currencies left.

Euro

Dollar

Yuan

Maybe the Yen

[marbro8]

And it will adversely affect tbe Brit economy, as it's not doing so well already. British exports will become dearer and less competitive and the tourist industry will be down because of the increased cost of the sterling currency.

Britain has already been printing money and this extra money has to be withdrawn from circulation.

In less than 20 years there will be only a few main currencies left.

Euro

Dollar
:wow:
Yuan

Maybe the Yeni don't think we will ever lose the £

[kingbaker]

You won't have a choice. People buying flights in euro to uk are now getting screwed to the same extent as you are gaining on holiday spends. Same if buying goods from uk.....like Iceland in TF.

The increases are being masked by lower petrol/ diesel thanks to Saudo's not cutting oil production.

Not sure I'd find these conditions acceptable?

Whereas my Euro in my pocket has been stable for years, except when I go to Brum and then I get screwed.

How long does this nonsense have to go on?

See saw/See saw.

[kingbaker]

we may get up to the height of €1.50 to the pound like we had years ago, great for holidaymakers but as has been pointed out to me before on here not so good for brit pensioners living in tenerife on british pensions:(

Yes marbro and it's a disaster for your export companies. Imagine how low the sales will fall in JLR when a vehicle goes up by say €30,000 and thats only the start. 'Building up your exports' is wott creates large numbers of jobs and you can't do it in food production, 'cause Brittain can't feed itself. Most but not all, industrial production has gone to China.

[TOTO 99]

Yes marbro and it's a disaster for your export companies. Imagine how low the sales will fall in JLR when a vehicle goes up by say €30,000 and thats only the start. 'Building up your exports' is wott creates large numbers of jobs and you can't do it in food production, 'cause Brittain can't feed itself. Most but not all, industrial production has gone to China.

Far be it from me KB but that all sounds a bit OTT.........If your car goes up by 30k then you're obviously talking about a vehicle that was over 100k in the first place.......If you're buying at those prices you won't be worrying about a shift in the Euro matey...............Oh yeah and, if as you say, nearly all production has already gone to China then surely our export number changes will be minimal don't you think?..........Just sayin'..:tiphat:

[kingbaker]

Dear Angry in Warrington!!

Firstly in the middle 90's a Jag xk8 came to Ireland and it cost 78000 Irish pounds. I don't think Jaguar sell here anymore. They could do much better if they had a couple of agents in every city in Europe. To do this successfully they need a stable currency, political stability, full access to these markets, stable tax rates, no import duties, good quality vehicles, and good marketing.

Th EU provides all it can except the currency bit, the quality bit and the marketing bit.:)

You've already lost most of your car industry over the last 20 years or so. The current increase in the pound will seriously damage your tourist industry and all export industries.

Both of these industries are labour intensive. When you loose exports, they are very difficult to retrieve.:)

British imports will be much cheaper amd will help create JOBS ABROAD.:)

[Sundowner]

:dancing::dancing::dancing::dancing:
we may get up to the height of €1.50 to the pound like we had years ago, great for holidaymakers but as has been pointed out to me before on here not so good for brit pensioners living in tenerife on british pensions:(

Brit pensioners will be better off with a higher pound.
I.e. £100 at €1.20 = €120
£100 at € 1.50 =€150
Party time:wink:

[TOTO 99]

Dear Angry in Warrington!!

Firstly in the middle 90's a Jag xk8 came to Ireland and it cost 78000 Irish pounds. I don't think Jaguar sell here anymore. They could do much better if they had a couple of agents in every city in Europe. To do this successfully they need a stable currency, political stability, full access to these markets, stable tax rates, no import duties, good quality vehicles, and good marketing.

Th EU provides all it can except the currency bit, the quality bit and the marketing bit.:)

You've already lost most of your car industry over the last 20 years or so. The current increase in the pound will seriously damage your tourist industry and all export industries.

Both of these industries are labour intensive. When you loose exports, they are very difficult to retrieve.:)

British imports will be much cheaper amd will help create JOBS ABROAD.:)

There's no happy medium with currency. For someone to be winning, someone has to be losing...

Let's face it, how long is it going to last anyway?

[kingbaker]

:dancing::dancing::dancing::dancing:

Brit pensioners will be better off with a higher pound.
I.e. £100 at €1.20 = €120
£100 at € 1.50 =€150
Party time:wink:

No not so...this happened previously. Loads moved over and when the pound dropped to neadly 1:1 ish, loads had to return home.
If you don't believe me read back on this forum a few years for the evidence.
And here you go again.

[Carol55]

No not so...this happened previously. Loads moved over and when the pound dropped to neadly 1:1 ish, loads had to return home.
If you don't believe me read back on this forum a few years for the evidence.
And here you go again.

The problem there lays with impulse buying or moving to a holiday island, people who had gone on holiday to Tenerife for maybe three years when the rate of exchange was favourable to them, fell in love with what they thought was a idyllic lifestyle after two or three years a change in the value of their money and they found their money wasn't sufficient to survive at the same level of living and returned to the UK......it will happen again, people looking through "Rose-coloured glasses". Tenerife will always have a transient British population, the one who have stayed appeared to have planned properly, not just over a two or three week period of time when they could go for walks during the day and then to their favourite restaurant in the evening.....two weeks of being on holiday is not true living!!

[TOTO 99]

No not so...this happened previously. Loads moved over and when the pound dropped to neadly 1:1 ish, loads had to return home.
If you don't believe me read back on this forum a few years for the evidence.
And here you go again.

Are you sure you're reading this?...:lol:

That wasn't what the post was about. It was pointing out the ( minor ) error in Marb's mathematics..:lol:....and as in my previous post, nobody thinks it's forever....it's about making the best of it now....

[marbro8]

Are you sure you're reading this?...:lol:

That wasn't what the post was about. It was pointing out the ( minor ) error in Marb's mathematics..:lol:....and as in my previous post, nobody thinks it's forever....it's about making the best of it now....oh god what have i done now:doh: perhaps i got it the wrong way round and people were moaning about their pensions when the euro went up against the pound:lol:

[Carol55]

oh god what have i done now:doh: perhaps i got it the wrong way round and people were moaning about their pensions when the euro went up against the pound:lol:

Dare I say it again....it's a Walsall thing!:p

[Ecky Thump]

I will wait and see what happens to the € after the Greek elections:wink:


If Syriza wins the elections creditor countries such as Germany will have to agree to the bailout plan, which is a commitment to pay €240 billion to Greece, that's about €30,000 per person in Greece-That's a lot of euros out of kingbakers euro Piggy Bank.....lets keep the pound!!

[Ecky Thump]

Caxton Fx this morning are offering €1.3200 to the £

No report from them yet, but I suspect the change is due to the Greek election results and the talk of a major bail out for them.....Not good news for the Eurozone, as it could mean heavy tax payments... kingbaker that includes Ireland!!

[kingbaker]

They've already GOT the bailout, it's renegotiation they want.;)
Their next payment from EU is at the end of February. If they haven't got an agreement by then they could run outta cash in the banks.;)

[Ecky Thump]

They've already GOT the bailout, it's renegotiation they want.;)
Their next payment from EU is at the end of February. If they haven't got an agreement by then they could run outta cash in the banks.;)

I bet your glad that Ireland adopted the Euro.....unlike us in Scotland....I'm looking forward to my tax refund this year.......in pounds!! :wink:

[kingbaker]

You mean English pounds?:p
You are one election away from a negotiated withdrawal from Brittain and the EU and sterling.
So wott currency you gonna use. Coz David says you can't use sterling?:)

[TOTO 99]

You meam English pounds?:p

What does "meam" meam KB?....:lol:

[kingbaker]

The three best things for Ireland are EU membership, Ryanair and the Euro.:)

[kingbaker]

In 12 months time we'll all be whinging about something else:p

[Malteser Monkey]

The three best things for Ireland are EU membership, Ryanair and the Euro.:)

What about the Guiness and the Whiskey

[kingbaker]

Don't part take in either yuk.:cool:

[Ecky Thump]

What about the Guiness and the Whiskey

Well said we will just keep the good old British Pound and our Scottish Whisky.

Kingbaker should stop worrying about us and worry about the peat bogs of Ireland, when they run dry all that will be left is a very sick euro!:p

- - - - - - - - - - merged double post - - - - - - - - - -


The three best things for Ireland are EU membership, Ryanair and the Euro.:)

I'll grant you that you have a good airline and they love the British pound.:raspberry2:

[universal]

Todays market rates from Currencies Direct............................

Euro (EUR) 1.3383
US Dollar (USD) 1.5039
Australian Dollar (AUD) 1.9035
South African Rand (ZAR) 17.1815
Japanese Yen (JPY) 177.7250
More rates

[Ecky Thump]

Euro Staggers After Greek Election Results.:wow:


GBP/EUR: Currently trading at 1.3357

Last Friday saw an unexpected result from UK retail sales as a surprising surge in food sales brought a positive result. Forecast to fall by -0.6%, the result was in fact an increase of 0.4%. Sterling’s strength continued as traders’ focus turned to the Greek elections. As predicted, Syriza won the Greek elections and as a result the euro dropped once again. This pair briefly traded above 1.35 before the euro resisted further gains. As articles worldwide have described this win as placing Greece on a collision course with the Eurozone, the immediate reaction was one of worry. However we have seen euro make solid gains in this morning’s session.
After the German Ifo Business Climate survey this morning, which came in line with predictions and saw continued euro strength, our focus for the day will be on the UK BBA mortgage approvals this morning. Forecast to drop slightly from 36.7K to 36.6K, euro strength could continue throughout

In an unsurprising result, the left-wing Syriza party won the Greek elections. The leader, Alexis Tsipras, has vowed to end Greece’s “five years of humiliation and pain” whilst leaders worldwide have expressed apprehension about what this means for the Eurozone. Since joining the Eurozone in 2001, Greece has seen crises after crises, which have radiated throughout Euro-area countries. With Syriza now in power, economists and politicians have raised concerns about the fresh crisis this could bring. As Syriza previously stated that they want to take Greece out of the Eurozone, worries of a “Grexit” will be reignited. Whilst the euro fell after this result, it has since recovered in this morning’s session. As this widely expected result was largely priced into the markets, a quiet day today may allow for some euro gains.

[Ecky Thump]

GBP/EUR: Currently trading at 1.3338

On the back of strong German Ifo Business Climate results, the euro strengthened against the pound, gaining just over a cent yesterday morning. Optimism has been boosted in the light of falling oil prices and in anticipation of the ECB’s QE stimulus plan. Increasing optimism may be seen in all Eurozone countries as the ECB’s QE programme is due to start soon.
UK figures this morning are forecast to drop off slightly with preliminary quarterly GDP predicted to drop off from 0.7% to 0.6% and BBA mortgage approvals (which were meant to be released yesterday) predicted to fall from 36.7K to 36.6K. With UK data forecast to be poor, we could see the euro attempt another day of gains.

As was largely expected, the results of the Greek elections were already priced into the markets and the immediate reaction seen in the Asian markets was quickly reversed. In fact, the euro managed to gain against the majority of its counterparts in yesterday’s session as German confidence figures increased. UK GDP at 9:30 this morning is forecast to fall from 0.7% to 0.6% whilst BBA mortgage approvals is predicted to fall by 0.1K. US durable goods orders are due at 13:30 and new home sales data is due at 15:00. After strong housing data was released last week, it would not be surprising if new home sales surpasses expectations.

Caxton Fx are offering €1.3070 to the £ when loading your debit card.

[martincrabb99]

Spending costs in Europe will be 15% less than 2013 and 7% less than 2014 according to a financial report that I have read.

[imablue]

This evening in Torviscas Travel Exchange it was showing 1.31 which has pretty much been that way for the last week.

[martincrabb99]

Where's Ecky or is the paint scraper out of the boot[emoji23]

[Ecky Thump]

GBP/EUR: Currently trading at 1.3389

Poor data out of the UK yesterday morning saw the euro push this rate back down towards the 1.33 mark. Meeting resistance at 1.331, this pair then traded with sideways movement around 1.336. UK preliminary quarterly GDP fell to 0.5% from 0.7% (and below the forecast 0.6%), whilst BBA mortgage approvals fell to 35.7K from 36.7K. Whilst some economists remained positive regarding GDP, saying that falling oil prices and unemployment would continue to boost growth, others were wary of potential downside risks from the Eurozone.
With no data due out of the UK or Eurozone today, level trading could continue throughout the day. A dovish Fed statement out of the US today could bring some euro strength if there are any hints that the dollar has been overbought.

UK quarterly GDP yesterday fell to 0.5% from 0.7% whilst annual growth rose by 2.6%, the strongest growth since 2007. The outlook for the UK economy remains positive as analysts generally agree that the full effects of falling oil prices have not yet been felt. US durable goods orders data was surprisingly poor yesterday as the oil price slump could not compensate for a strong dollar and orders fell compared to the previous month. Strong Australian CPI figures this morning have subdued speculation that the RBA will cut their cash rate next Tuesday. Whilst their decision will not be announced until the meeting next week, any hints beforehand should lead to volatility in Aussie pairings. Today’s trading will centre on the US and NZ statements this evening at 19:00 and 20:00 respectively. The Fed will release their first statement of the year about monetary policy as well as announcing the funds rate. Strong US figures should allow for hawkish statement but the real focus will be on any hints of when the first interest rate hike should be; analysts do not anticipate the funds rate being altered

CaxtonFx are offering €1.3070 to the £ when you load your debit card.




Where's Ecky or is the paint scraper out of the boot[emoji23]

The paint scraper is out of the boot and is where it should be....up a ladder with the wife as the operative!!:p

[Ecky Thump]

GBP/EUR: Currently trading at 1.3382

Steady Sterling gains throughout the day yesterday saw the rate rise from 1.3356 to 1.3416. In a speech entitled ‘Fortune favours the bold’, Carney attacked German austerity (although not by name). Carney stressed the importance of larger countries supporting economies that are struggling with big debts. In essence, Carney is repeating other economist’s words that Germany needs to support struggling countries like Spain or Italy. Whilst he said nothing new, the pound still strengthened against the euro as a result.
The usual end-of-the-month data is being released this week, none of which has had much impact on the FX markets. German preliminary CPI is being released throughout the day today and volatility could be seen until all six states have reported their figures. With the overall figure forecast to drop off to -0.8% from 0.0%, the euro could continue to weaken throughout the day.

Volatility was seen throughout the FX markets yesterday as the Fed released a hawkish statement, Carney attacked the Eurozone’s austerity and the Royal Bank of New Zealand (RBNZ) held their cash rate at 3.50%. Yellen’s statement yesterday upgraded economic expansion from ‘moderate’ to ‘solid’ and job gains from ‘solid’ to ‘strong’. Regarding global outlook, the Fed discussed the risks of economies worldwide for the first time since January 2013, saying that “financial and international developments” would weigh on the timing of the first interest rate hike. In Dublin, Carney reiterated the need for structural reforms in the Eurozone, saying that fiscal union is necessary for improvement. Finally in New Zealand, the RBNZ have begun feeling the impacts of a global slowdown and announced that their next cash rate decision could take the rate up or down. Trading focus today will be on US unemployment claims at 13:30 and the German preliminary CPI, which is released throughout the day from six states. With US data forecast to improve and German data predicted to weaken, we could see recent trends continue as the dollar gains and euro weakens.

Caxton Fx are offering €1.1.3070 to the £ when you load your Caxton Debit Card
Which will see Mr martincrabb99 scrabbling to his computer and opening a Caxton account!:D

[Ecky Thump]

GBP/EUR: Currently trading at 1.3323


Despite German CPI figures falling below forecast to -1.0%, from 0.0% caused the euro to gain against the pound throughout yesterday’s session. The rest of the day’s data was in line with predictions and as such the euro’s gains saw no barriers.
Eurozone CPI flash estimate will lead the way for trading today, forecast to fall to -0.5% from -0.2%, the pound should be able to recover all lost ground made in yesterday’s session.


No surprises yesterday as recent trends continued with the euro weakening, the dollar strengthening and the pound plodding along in the background. Whilst Eurozone data was strong yesterday, euro gains were limited by German preliminary CPI falling below forecasts to -1.0%. US unemployment claims saw a particular strong figure, falling over 35K below forecasts. Key figures today will be Eurozone CPI flash estimate at 10:00 and US advance GDP at 13:30. Both sets of data are forecast to drop off slightly and we may therefore see another day of volatile trading.

Caxton Fx are offering €1.3000 to the £ when you load your debit card.

[Ecky Thump]

No change with the Caxton Fx rate, the same as yesterday at €1.3000 to the £

Ice Banks rate for their preloaded debit card is €1.2768 to the £

[TenerifeFanatic]

Last Monday we got a rate of 1.3220 at Java exchange opposite Colon 11.

[Ecky Thump]

Last Monday we got a rate of 1.3220 at Java exchange opposite Colon 11.


That's the almost exact rate as CaxtonFX were offering on the same day for loading on their Euro Debit Card....it just shows how competitive Caxton are.

No....I don't get commission for advertising for them!:nono: but I wish I did.:lol:

[Ecky Thump]

GBP/EUR: Currently trading at 1.3281

After a day of euro gains last Thursday, this pair saw resistance around 1.327 on Friday and the pound managed to push the rate back towards 1.330. Level trading was seen throughout the day as the Eurozone CPI flash estimate fell from -0.2% to -0.6%. This fall was driven by falling oil prices and expected declines across the board with the exception of services, which are predicted to increase by 1.0%.
Kicking off the month will be UK manufacturing PMI this morning. Forecast to increase from 52.5 to 52.9, the pound could see enough support to gain and hold ground against the euro.

The downside risks of the current oil price slump were seen in Eurozone, Canadian and US figures last Friday as CPI and growth data fell across the board. Eurozone CPI flash estimate fell by 0.6% as falling oil prices dragged on inflation. Canadian GDP fell by 0.2% as the gap between oil extraction costs and low selling prices increased further and US GDP fell as global sales were hit by a strengthening dollar coupled with falling oil prices. Manufacturing data will lead the day today as UK manufacturing PMI is due out at 09:30 and US ISM manufacturing PMI will be released at 15:00.

CaxtonFx are offering €1.3135 to the £ when you load your debit card

Get one soon for ALL your holidays ( martincrabb99 ), you know it makes sense!!:cheeky:

[Ecky Thump]

GBP/EUR: Currently trading at 1.3246

A poor day for Sterling yesterday as the euro gained a cent over the course of the day, despite UK manufacturing PMI beating predictions. Manufacturing data saw a rise to 53.0 from 52.7, above the forecast 52.9. This slight increase was led by exports as input costs saw the biggest drop since May 2009, a positive effect of falling oil prices. Spanish unemployment change this morning was forecast to rise from -64.4K to 83.4K but in fact only hit 78.0K. Despite this result being better than forecast, the euro has traded on a weaker footing since this release.
UK construction PMI will lead the way for the rest of today’s trading. Given the trends we saw yesterday after the manufacturing data was released, we could see another day of Sterling weakness as construction is forecast to drop off from 57.6 to 56.9.

The first of the three UK sectors PMI data was released yesterday in the form of manufacturing PMI. Despite beating predictions, the pound fared poorly against the majority of counterparts in yesterday’s session and couldn’t hold any gains. A strong day was seen for the euro as Italian and Spanish manufacturing PMIs both exceeded forecasts. Italian PMI hit 49.9, which is just below the 50.0 mark that signifies the end (or at least a pause) in contraction. This morning saw the RBA cutting their cash rate from 2.50% to 2.25%, a decision that was expected but had not been fully priced into the markets. The dollar received a push from this decision as commodity currencies fell as a result, with the exception of the Loonie, which was boosted from rising oil prices. Today’s focus will be on UK construction PMI this morning, forecast to drop slightly, we could see another day of Sterling weakness.

CaxtonFx are offering €1.2955 to the £ when you load your debit card

Ice Bank are offering €1.2709 to the £ with their debit card

Still waiting for martincrabb99 to tell us if he now has a CaxtonFX card for his regular visits to Tenerife.:)

[Ecky Thump]

GBP/EUR: Currently trading at 1.3233

Strong UK construction PMI figures yesterday saw a rise from 57.6 to 59.1, above the forecast 56.9. Whilst output and new business growth recovered from the 17-month low seen in December, business outlook was the second-lowest seen since October 2013. Previously, outlook has remained strong within the UK sectors however with global economic uncertainty growing and a UK general election looming, pessimism is once again starting to rear its head.
After a month of selling-off euros, it appears that traders are now starting to buy back whilst the euro is weak and yesterday we saw the euro gain a cent on the pound. Hopes for a Sterling recovery will be pinned on UK services PMI data out this morning, forecast to rise from 55.8 to 56.6, the pound could remain steady if services outlook is perceived as optimistic.

After a month of traders investing heavily in the greenback, higher-yielding currencies have stepped into the light and as the RBA cut their rates, the Loonie and Kiwi competed for strength. Whilst oil prices rose yesterday for a third consecutive day, analysts have been debating whether we have seen a low or if the current rise is a ‘dead cat bounce’. Either way, the Canadian dollar has been strengthening as a result and yesterday we saw month-highs in the CAD/AUD pair. The Kiwi saw a similar boost as strong dairy and employment data yesterday helped gains on the back of the RBA rate cut. Today will see commodity-currencies take a step back as UK services PMI and US ADP non-farm employment change and ISM non-manufacturing PMI data will govern trading. With UK data forecast to improve, we could see Sterling strengthen against counterparts, especially as services data is often seen as the most important of the three sectors. Scepticism surrounds ADP data predictions as the result tends to be far from forecasts, volatility could therefore be seen in USD pairings.

CaxtonFX are offering €1.2930 to the £ when you load your debit card.

Ice bank are €1.2691 to the £ with their debit card.

[Ecky Thump]

GBP/EUR: Currently trading at 1.3372

Strong services data yesterday morning saw the pound gain over a cent on the euro before resistance was met around 1.335. Towards the early evening the euro’s momentum, which has been seen throughout this week, wavered and the pound broke the euro’s resistance and climbed another cent. In a conference in Brussels, Yanis Varoufakis, the Greek finance minister, announced that Athens has been in talks with the IMF over a debt swap proposal. As Greece’s debt situation is closely watched and Syriza start to settle in (or not as the case may be) to running a country, euro volatility is likely to continue.
Today’s data releases are likely to be a non-event. The EU economic forecasts this morning are likely to be priced into the markets already as individual member states have already released forecasts and opinions for the year ahead. This morning’s official bank rate vote from the UK will also be priced into the market as all members previously voted to hold rates.

Yesterday evening the ECB announced that they would be lifting the waiver on Greek bonds as collateral. This surprise announcement saw the recent euro gains finally running out of steam and the single bloc currency tumbled against the majority of counterparts. Across the pond, the dollar benefited from this euro weakness and after a week of the greenback losing momentum, a EUR/USD sell-off placed the dollar back on centre stage. UK PMI data remained strong yesterday as falling oil prices led to lows in input and output costs across the board, outlook remains optimistic as cheap oil benefits the sectors. US crude oil inventories saw a rise of 6.3M barrels, causing Brent oil to plummet back towards $50 a barrel, unsurprisingly the Loonie saw considerable weakness as a result. Today we will briefly glance over the UK official bank rate vote at 12:00 before turning our attention to US trade balance and unemployment claims data at 13:30. With the euro and Loonie weakening once again and the dollar continuing on its path of strength, trends seen last week are likely to dominate the markets.

CaxtonFX are offering €1.3070 to the £ when you load your Debit card. :)

Ice bank are offering €1.2836 to the £ on their debit card rolleyes2:

[Ecky Thump]

.
.
##Sterling Strengthens as Tensions Rise!##

GBP/EUR: Currently trading at 1.3370

The euro saw strength yesterday morning following a positive outlook from the EU economic forecasts. For the first time in eight years, every member state in the EU is expected to see economic growth. Forecasts have been revised up across the board with growth predicted to reach 1.3% in the euro-area at the end of this year and 1.9% in 2016. Sterling resisted euro gains around 1.331 and pushed the rate back up in the pound’s favour, this pairing then traded on an upward trend for the remainder of the day.
The only data of note out this morning is the UK trade balance figures this morning. Forecast to drop off slightly from -8.8B to -9.0B, this is unlikely to affect this pairing too much in either direction. With no more data due out for the rest of the day, Sterling gains are likely to continue against the euro.

Yesterday saw Sterling strengthen against all counterparts as the Bank of England held the official bank rate at 0.50%. As geopolitical tensions continued to rise around the world, the pound saw strength as UK data has been placed on the back burner during a time of relative calm for the UK. This trend is likely to continue for the next couple of months with the pound seeing strength as tension and disharmony continues to grow in the Eurozone and throughout the world. Focus today will be on Canadian and US employment data at 13:30. Whilst Canadian employment change is forecast to rise from -4.3K to 4.7K, US non-farm employment change is predicted to fall from 252K to 236K. We could see another day of Sterling gains if the dollar weakens on the back of falling non-farms data.

CaxtonFx are offering €1.3075 to the £ when you load your Debit Card

Ice Bank are offering €1.2841 to the £ on their Debit Card

[tfs1]

Just got 1.32 at the exchange place behind Fados in Los Cris - Admiral Travel offering the same rate.

[Ecky Thump]

Just got 1.32 at the exchange place behind Fados in Los Cris - Admiral Travel offering the same rate.

If we ever have to exchange money while in Los Cristianos we always use the one that you have been to and then sit outside at Pimms the restaurant/bar below the Irish Times. The exchange always gives the latest rate of exchange, do you know the name of it?

[tfs1]

If we ever have to exchange money while in Los Cristianos we always use the one that you have been to and then sit outside at Pimms the restaurant/bar below the Irish Times. The exchange always gives the latest rate of exchange, do you know the name of it?

Just looked at the receipt I got when I changed our money and you will find it hard to believe, as did I, but at the top of the receipt is josemobilityservices.com

[Ecky Thump]

Just looked at the receipt I got when I changed our money and you will find it hard to believe, as did I, but at the top of the receipt is josemobilityservices.com

http://josemobilityservices.com

And not one mention of money exchange!:D

I've used the small office for years and have never seen a mobility scooter, but the website is all it contains.???

[tfs1]

http://josemobilityservices.com

And not one mention of money exchange!:D

I've used the small office for years and have never seen a mobility scooter, but the website is all it contains.???

My thoughts as well, there were a few bikes for hire near the entrance but no scooters.

[Ecky Thump]

GBP/EUR: Currently trading 1.3433


A lack of UK data proved beneficial for the pound on Friday as US figures took centre stage and forced the euro lower. Stronger-than-expected non-farm employment change data saw a EUR/USD sell-off that pushed the pound a cent higher against the euro. Euro weakness was seen again over the weekend when traders in the Asian markets reacted to ex-Fed president Greenspan’s warning that for the Eurozone to recover, Greece must leave the Eurozone. He sees a ‘Grexit’ as inevitable as Greece staying doesn’t help “them or the rest of the Eurozone”, whether he is correct or not will remain to be seen but his pessimism was certainly reflected in euro pairings.
Sterling weakness has been seen today, possibly as a result of articles out this morning, which provide the details of how HSBC’s Swiss bank ‘helped clients dodge millions in tax’. With no data out today, the pound could continue to weaken throughout today’s session.

Strong US figures held trading focus on Friday as non-farm employment figures capped off the largest three-month gain in 17 years. Equally strong data was seen from Canada as building permits, employment change and unemployment rate figures all beat predictions. A speech from the Royal Bank of Australia’s (RBA) Governor Glenn Stevens saw global risk appetite increased as he announced the opening of a Bank of China in Sydney as the official clearing back for the renminbi. With this launch, the RBA is signalling optimism that trades with China will increase and transactions will become quicker and more efficient; commodity-currencies strengthened as a result of this confidence. A quiet data week has been promised ahead, which means that Greece will remain firmly in the spotlight, another euro dip is therefore a strong possibility.

Caxton Fx are offering €1.3142 when you load your debit card

Ice Bank are offering €1.2900 on their debit card

[Ecky Thump]

GBP/EUR: Currently trading at 1.3462

A few attempts were seen by the euro to push this rate lower yesterday but the pound put up a strong resistance and the euro failed to hold any gains for too long. As reports came out throughout the day regarding the Greek crisis, euro-traders reacted with mixed opinions and volatility was seen; this is likely to be the same story for the next few weeks as we are due for a quiet month.
Sterling-traders are likely to be fully focused on Thursday’s upcoming BoE inflation report but UK manufacturing production could pull focus if the figures are far from predictions. After last week’s strong PMI data, perhaps manufacturing will bring some surprises.


A light day on the data front yesterday saw pairings trade with more focus on news and announcements around the world than on data that was released. As leaders throughout the Eurozone urged Greece to stick to their bailout plans, Greece was busy tearing up their EU/IMF Troika programme whilst being rejected war reparations from Germany whose Chancellor was flying around the world discussing plans with world leaders on how to pacify Russia. Needless to say, euro volatility reared its ugly head once again and with February due to have a relatively light data calendar, this is likely to continue throughout the month. Trading focus today will move to the UK in the morning as manufacturing production figures are due out at 09:30. Despite being forecast to drop off slightly, the spotlight will quickly move back to the Eurozone and Sterling pairings may not suffer too much as a result.

CaxtonFX are offering €1.3158 to the £ when you load your debit card.

Ice Bank are offering €1.2900 on their debit card.

[willowlily]

My thoughts as well, there were a few bikes for hire near the entrance but no scooters.


I go there on a regular basis as is usually the best rate, got 1.30 today, if you go early there is normally one mobility scooter available in the shop and a few by the side of fados.

[Carol55]

Just looked at the receipt I got when I changed our money and you will find it hard to believe, as did I, but at the top of the receipt is josemobilityservices.com

I think the main mobility shop is the around the corner from Fado's restaurant and that the exchange office is run like a agency. As others have said, always a good rate of exchange there.

http://josemobilityservices.com/

[Ecky Thump]

.
The Pound Continues to Strengthen!

GBP/EUR: Currently trading at 1.3481

Sterling strength was seen throughout yesterday morning as monthly manufacturing production fell from 0.8% to 0.1%. A poor figure on the surface was not as bad as appearances as manufacturing production rose by 2.4% compared to the year before.
Volatile trading is likely to be seen today as the Eurogroup meetings will take place throughout the day. Whilst the meetings are closed to the press, Finance Ministers could give comments to reporters and therefore strong movements may be seen in euro pairings as analysts scrutinise their every word

Whilst monthly UK manufacturing production fell to 0.1% from 0.8%, annual figures remained strong and saw a 2.4% increase. With a recent slip in oil prices, which limited the production of oil-manufacturing machinery, this figure represents the downside risks of falling oil prices but also the current strength of the UK sectors, as reflected in three strong PMI figures last week. Trading today will focus on peace talks taking place in Belarus before turning to Brussels for the Eurogroup meetings. Heavy volatility and lower global risk appetite can be expected throughout today with the potential to extend through the week if anything unexpected is announced.

CaxtonFX are offering €1.3183 to the £ when you load your debit card

Ice Bank are offering €1.2938 on their debit card.

[tfs1]

Intraday peak today at 1.3539, still heading the right way ! - hopefully 1.35 to soon become the new sustained level before moving up in the coming weeks.

[marbro8]

you can get €1349 if you change £1000 with world first bank on the internet, i wish i had waited now, i would have got an extra €69:(, that would have taken us out an extra couple of nights:cheeky:

[Ecky Thump]

you can get €1349 if you change £1000 with world first bank on the internet, i wish i had waited now, i would have got an extra €69:(, that would have taken us out an extra couple of nights:cheeky:

Altogether Now .....Ahhhhhhh:p

[Ecky Thump]

GBP/EUR: Currently trading at 1.3444

As brief reports and comments from the Eurogroup meetings were released throughout yesterday’s session, the pound pushed up against the euro and breached 1.35 before meeting resistance at 1.3536. The general consensus seems to be that whilst no conclusions have been made so far, negotiations should be able to end on Monday.
Another volatile day can be expected today with the Bank of England inflation report this morning, accompanied by a speech from carney. Turning to the Eurozone, we have a second day of peace talks in Minsk as well as the EU economic summit in Brussels, Greece will be the topic on everyone’s minds. Whilst Greece have no plans to leave the Eurozone, there is the potential for them to be forced to leave the euro if they unilaterally default on the troika bailout programme.

The Eurogroup meetings yesterday saw volatility throughout the markets, with particular impact on Sterling and euro pairings. A strong euro sell-off in favour of the pound saw Sterling gains against the dollar, which pushed the rate back towards 1.53 but momentum wasn’t quite enough to hold the pound’s newfound ground. Finance Minister’s (FinMin) agreed that another day of Eurogroup meetings will be necessary on Monday to reach any sort of conclusion and the majority of FinMin’s were optimistic that a satisfactory end will (eventually) be reached. In Brussels today, the Greek Prime Minister, Alexis Tsipras, will give his debut performance at an EU summit and analysts will be evaluating his every word. The Bank of England’s inflation report at 10:30 today will provide some insight into where the Bank sees the inflation and growth rate going in the next couple of years. Whilst we anticipate a negative report, it is unlikely to be pessimistic enough to pull the BoE out of the central bank vanguard to tighten monetary policy. Another day of uncertainty is likely to be seen and the dollar may fare better than the pound as US retail sales at 13:30 are forecast to strengthen.

CaxtonFX are offering €1.3225 to the £ when you load their Debit Card.

Ice Bank are offering €1.2915 on their Debit Card.

[Ecky Thump]

GBP/EUR: Currently trading at €1.3455

The Bank of England inflation report was more optimistic than expected and as a result the pound strengthened against the euro. As anticipated, Sterling’s reign of strength failed to hold and the day’s session closed at 1.3489, barely above the open at 1.3471. The BoE expect 2015 to register the fastest growth since 2006, aided by low oil prices. Acknowledging the downside risks of the oil price slump, Carney said that inflation could fall below zero.
Strong German preliminary GDP this morning, coupled with equally strong French preliminary non-farm payrolls data, has seen the euro continue to gain lost ground against Sterling. The euro may therefore continue to gain on the pound for the rest of the day as no more data is due.

The pound has seen strong gains throughout the week as trading was anticipation of the Bank of England inflation report yesterday. Whilst analysts were split on how confident the report would be, Sterling bulls would have been satisfied with Carney’s optimism. A confident outlook signals a pick-up in earnings as well as inflation recovering to hit the 2% target within two years’ time. Across the pond, the dollar has been suffering from a week of over-ambitious forecasting, causing traders to feel let down. Trends continued as US retail sales data missed forecasts yesterday and unemployment claims rose well above predictions. With little data out today, our focus will be on Canadian manufacturing sales at 13:30 and US preliminary consumer sentiment survey at 15:00. After a strong day for oil yesterday and Canadian figures predicted to improve today, we may see Loonie gains push through the weekend. The US survey is forecast to improve slightly but after this week’s poor figures, a strong increase will be needed to restore confidence.

CaxtonFX are offering €1.3163 to the £ when you load your debit card.

Ice Bank are offering €1.2928 to the £ on their debit card.

[Stoney]

anyone know what rate admiral travel are giving today please.

[Ecky Thump]

I
anyone know what rate admiral travel are giving today please.

Going on the past history between the differential of Admiral Travel and the bank rate is about 2'cents, then I would think that it's in the region of €1.32 to the £

Be Lucky!:wink:

:
:

*I've just been told by my wife that she has just (4:50pm) put another £200 on our CaxtonFX Debit card and she got €264.*

marbro8 .......
Thats more holiday spending vouchers!!:c2:

[Ecky Thump]

GBP/EUR: Currently trading at 1.3495

Sterling gains continued on Friday as limited data came out of either country. Reaching 1.3533, this pair is still struggling to hold gains above 1.35. This morning saw an encouraging report break as the CBI raised growth forecasts from 2.5% to 2.7% on the back of low oil prices. Furthermore, as house prices have shown constant signs of growth, economists are now considering if we can call an end to the housing slowdown.
Despite positive UK revisions this morning, in anticipation of the Eurogroup meetings today, the euro strengthened as a result of optimistic reports.

Last week’s Sterling close has seen the majority of analysts in agreement that for now, the pound is safe. After a rocky start to the year, where the pound fell against the majority of counterparts, Sterling has recovered much of its lost ground and is now trading at record highs. Trading in favour of the pound continued last week as global tensions rose regarding Greece’s debt crisis and faith in the dollar fell slightly as consumer sentiment fell on Friday afternoon. This morning has seen the Confederation of British Industry raise their UK growth forecasts from 2.5% to 2.7%, supporting the Bank of England’s positive revisions last week to their 2016/17 growth forecasts. A quiet day in the data calendar will leave focus on Greece today as a second day of Eurogroup meetings will inject further volatility in the markets.

CaxtonFX are offering **€1.3310** to the £ when you load your debit card.

Ice Bank are offering €1.2966 on their debit card.

[Ecky Thump]

.
GBP/EUR: Currently trading at 1.3531

This pair broke 1.35 yesterday evening and this time, it looks set to stay above the mark. As the Eurogroup meetings ended in disarray yesterday, with Greece confident that a deal would be reached and the rest of the Eurogroup more pessimistic, the euro plummeted against counterparts. Hopes of a euro recovery in the short-term will be pinned on a compromise being reached this week.
Whilst important data is out today, it may be overshadowed by further reports from Greece. UK CPI is forecast to drop from 0.5% to 0.3% this morning and German ZEW economic sentiment is predicted to rise from 48.4 to 55.4. The usual consequence of these results would be euro strength however UK CPI could be priced into the markets already and tensions around Greece may outweigh low UK inflation.

The Eurogroup meetings collapsed in acrimony yesterday as Syriza refused ‘unacceptable’ Eurozone demands. Greece was given an ultimatum yesterday evening, they must either agree to maintain the current bailout plan by Friday or face the consequences. As Greece have been refusing these requests thus far, a ‘dirty Grexit’ has loomed its head once more. Greece’s Finance Minister Varoufakis was more optimistic, claiming that an “honourable agreement” was within reach. Whilst the next official meeting is not until Friday, Varoufakis has said talks will continue throughout the week, which will surely lead to further euro volatility. Whilst reports will be closely watched today we also have an important day in the data calendar with UK CPI at 9:30 and German ZEW economic sentiment at 10:00. These sets of data may have less impact as traders focus more on the Greek debt crisis.


CaxtonFX are offering €1.3160 to the £ on their Debit Card.

Ice Bank are offering €1.2985 on their Debit Card.

[Ecky Thump]

GBP/EUR: Currently trading at 1.3478

The euro regained a cent on the pound yesterday as UK annual CPI fell in line with predictions at 0.3% and German ZEW economic sentiment rose to 53.0 from 48.4. Further momentum may have been the result of a report breaking that Greece will apply for a 6 month extension of its loan agreement today, “under certain conditions”.
UK employment data this morning is forecast to be mixed, with average earnings remaining at 1.7% and claimant count change rising to -25.2K from -29.7K. After the data releases this morning, focus will turn to the development in Greece for full details on their extension conditions.

Yesterday morning saw UK CPI falling in line with predictions at 0.3% whilst PPI input fell from -3.3% to -3.7%. Mixed results saw similarly mixed movements across Sterling pairings. Across the pond, the USD mopped up the pound’s losses and gained on counterparts, despite the empire state manufacturing index registering losses in confidence across the board. A data heavy day in the US and UK today could bring some activity however with UK data predicted to see minimal change, action in the Eurozone will likely overshadow these figures. US data is predicted to be fairly mixed, which could lead to some volatility in dollar pairings. The latest update on the Greek bailout crisis was fuelled with scepticism as yesterday afternoon, Tsipras stated that extending the programme by six months would be a waste of time, before a report broke that Greece would ask for an extension today. Tsipras was also quoted as saying that a new election would be called if Eurogroup meetings fail. As pessimism hangs in the air, euro strength can be expected if a satisfactory end is reached but a slump is a strong possibility as a positive conclusion does not like near.

CaxtonFX are offering €1.3220 to the £ when you load your Debit Card.

Ice Bank are offering €1.2933 on their Debit Card.

[Tshirt]

Caxton now at 1.3280 this afternoon. I'm hanging on hoping it will rise even further before I go, 8 weeks tomorrow.

[Ecky Thump]

There is another relatively new comer in the Euro prepaid debit card market, it's called Ucash, I know nothing about them apart from over the last few weeks that I have been looking, their rate of exchange has been approxametly one cent better than the CaxtonFX rate...it's certainly worth delving into their history to see if you think it's worth trying them. Here is a link to them.........



Ukash Travel Money Prepaid MasterCard | GB
https://www.ukash.com/en-gb/products/travelmoneycard/
The Ukash Travel Money Card is a reloadable prepaid MasterCard that is available in EUR or USD. It can be used at shops, restaurants and bars across 3.

[kingbaker]

My Euro is still worth the same in Tenney as it was last week/month/year.:p

[Ecky Thump]

My Euro is still worth the same in Tenney as it was last week/month/year.:p

If you mean that it's still worth 100 Cents, then yes you are totally correct, but if you mean it's true worth in spending on goods,.....it's not, as the majority of goods in Tenerife are imported.!!:nono::p

[Tshirt]

There is another relatively new comer in the Euro prepaid debit card market, it's called Ucash, I know nothing about them apart from over the last few weeks that I have been looking, their rate of exchange has been approxametly one cent better than the CaxtonFX rate...it's certainly worth delving into their history to see if you think it's worth trying them. Here is a link to them.........



Ukash Travel Money Prepaid MasterCard | GB
https://www.ukash.com/en-gb/products/travelmoneycard/
The Ukash Travel Money Card is a reloadable prepaid MasterCard that is available in EUR or USD. It can be used at shops, restaurants and bars across 3.


I've had a quick look at Ukash, it seems they charge for certain things that are free with Caxton.

https://www.ukash.com/en-gb/products/ukash-mastercard/fees-and-limits/

[Ecky Thump]

I've had a quick look at Ukash, it seems they charge for certain things that are free with Caxton.

https://www.ukash.com/en-gb/products/ukash-mastercard/fees-and-limits/

The couple of things that jumps out at me are the £1 top up fee, if some one tops up their card on a weekly or monthly basis, then the extra one cent to the pound exchange rate differential becomes worthless and then there is the £3 dormancy fee, which Caxton don't make a charge for.....I'll stick with Caxton! :-)

[fixer]

Stick with Caxton used them since 2004 got 1.33.20 today on fast pay.

[Ecky Thump]

:
GBP/EUR: Currently Trading at 1.3510


Surprisingly strong figures from UK employment saw this rate shoot up to 1.3606 before the euro could resist any further gains. Average earnings index rose to 2.1% from 1.8% whilst claimant count change fell to -38.6K from -35.8K. This strong result from average earnings marked the widest margin between wage growth and inflation since 2008.
A quieter day in the UK calendar could help euro gains but only if this afternoon’s ECB monetary policy meeting accounts are confident and hawkish, perhaps an unlikely scenario given current Eurozone conditions.

Yesterday’s session began with strong gains across the board from UK data, as employment figures beat all predictions. The average earnings index rose from 1.8% to 2.1%, well above the predicted 1.7%, whilst the unemployment rate fell from 5.8% to 5.7%. As wage growth continues to outpace inflation, confidence in the economy improves as consumers have more spending money in their pockets. Surprisingly dovish Fed minutes yesterday as officials expressed concern on the dollar’s increasing value, saying that it is “a persistent source of restraint” on exports; the dollar fell against all counterparts as a result. Focus today will be on ECB minutes at 12:30, the first time the bank has ever released minutes of a policy meeting, before turning to the US Philly Fed manufacturing index at 15:00.

CaxtonFX are offering €1.3220 to the £ when you load your Debit Card

Ice Bank are offering €1.2990 on their card.

- - - - - - - - - - merged double post - - - - - - - - - -


My Euro is still worth the same in Tenney as it was last week/month/year.:p


Sorry KB. Your wrong, it's now worth a little bit less than even last week due to the import of goods to Tenerife.;)
toto99 & Carol55 relax, you will be able to buy more drink with your pound!!:D::drunks2:

[Ecky Thump]

The Eurozone remains in Major Crisis........ kingbaker this also means The South of Ireland!!

GBP/EUR: Currently Trading at 1.3574

After a few days of discussion, Greece formally requested a six month extension to its loan programme, which was swiftly rejected by Germany. After a move that some have taken to mean the beginning of the end of Greece’s stay in the Eurozone, the euro plummeted against all counterparts. Their current bailout plan ends at the end of this month and without a further plan or extension, Greece could run out of money. The Greek government has placed the Eurogroup in a slightly awkward position as they claimed earlier in the week that at the last moment the Eurogroup would convert their ‘impasse’ into a ‘satisfactory agreement’. Not wanting to be seen appeasing Greece, today’s decision has many factors to weigh in.

Today’s trading will focus solely on the Eurogroup meetings today. Eurozone PMI data this morning will be glanced at then cast aside whilst traders have their sights set on Brussels.


In a shocking and yet not altogether unsurprising move, Germany rejected Greece’s request for a six month extension to their loan programme. Whilst this move does not seal Athens’ fate and commit the country to the flickering flames of uncertainty that lie on the other side of a Grexit, it has certainly placed Greece one step closer to this volatile end. The German finance ministry spokesman said that the new plea was “not a substantial proposal for a solution”, but many analysts feel the true reason stretched beyond this. Economists are generally in agreement that Germany’s decision was personal to Brussels, especially after the recent QE announcement. On the more positive side, reports were released last night that a phone call between Tsipras and Merkel was “constructive” and “held in a positive climate”, euro bulls will be hoping these two leaders were able to come to an agreement. The next stage of this Greek epic will be played out today in Brussels as the Eurogroup converge for what is meant to be ‘the final decision’ on Greece’s current plans. As ever volatility is likely to ensue, with particular euro weakness and Sterling and dollar strength.

CaxtonFX are offering €1.3291 to the £ when you load your debit card.

Ice Bank are offering €1.3048 to the £ on their debit card

[kingbaker]

Nonsense Ecky I'm not in Tenney.....give yer finger a rest.:D

[Ecky Thump]

Nonsense Ecky I'm not in Tenney.....give yer finger a rest.:D

I thought that you needed reminding, as you constantly and tirelessly keep bleating about the Euro as the way for Great Britain to go, that the Euro at this time is deep in the mire, right past its little cotton socks and heading for its nasal passage!:whistle:

[Ecky Thump]

:
:
GBP/EUR: Currently trading at 1.3568


As Greece and Germany came to a four-month extension deal on Friday evening, this pair fell two cent in favour of the euro. Terms of the deal will be approved tomorrow and whilst no one is fooled that this is the end of Greece’s troubles, all parties seem satisfied that a final compromise is near.
Sterling quickly recovered lost ground against the euro over the weekend and this morning, with the rate pushing above 1.355. Poor German Ifo business climate figures this morning has helped increase Sterling gains. With no more data of note due for the rest of the day, the pound could continue to recover its losses.


After a week of negotiating, a four month bailout extension was agreed between Greece and Germany, the final details of which will be confirmed tomorrow. Euro pairings initially saw strength as a result but this was quickly reversed as traders noted that this was not a final resolution but a four-month postponement. As Germany boasted over this ‘win’ against Greece, the Greek PM and Finance Minister both felt that a compromise will be seen in the near-future. Hopes of euro strength will now be dependent on how quickly final terms are decided. With the ECB already saying that they are ready to reintroduce waiver for Greek collateral, perhaps a final conclusion is near. Little data out today will leave the FX markets trading on the back of Friday’s news, any further developments will aid market movement.

CaxtonFX are offering €1.3260 to the £ when you load your Euro Debit Card.

Ice Bank are offering €1.3001 to the £ on their Debit Card

[Ecky Thump]

:
GBP/EUR: Currently trading at 1.3644

The pound continued to gain on the euro yesterday, despite UK CBI realised sales plummeting from +39 to +1. This was the weakest result since November 2013 but no reaction was seen in the FX markets, possibly as analysts were already aware of black Friday deals still affecting retailers. Sterling’s gains throughout the day were likely due to Greece missing their deadline to submit a list of reforms and traders quickly realising that the 4-month extension is by no means a guarantee.
A busy day today will see the BoE’s inflation report hearings this morning, Draghi unveiling the €20 note in Frankfurt in the afternoon and the Eurogroup meetings throughout the day. The inflation report hearings should be priced into the markets already as low CPI is expected in the future and deflation has already been discussed by Carney. Draghi’s words at the unveiling are likely to be overshadowed by events in Brussels.


Yesterday saw last week’s trends continue as Greece missed yet another deadline. Monday was seen as a false start to the end of this chapter in Greece’s current debt crisis as Greece missed the deadline to submit a list of reforms to the Eurogroup and will instead submit them today. As the Eurogroup discuss the latest Greek proposals, a long day is expected with volatility permeating all euro pairings. Data will take a step back today as speeches are due from Draghi (14:00), Yellen (15:00), Poloz (19:00) and Wheeler (23:40) whilst the BoE inflation report hearings (10:00) will take place in the morning and the Eurogroup meetings throughout the day. The main focus will be on Yellen’s testimony and if dovish sentiment continues, we could see the dollar fall against counterparts whilst momentum is added to Sterling gains.

CaxtonFX are offering €1.3320 to the £ when you load your Euro Debit Card.

Ice Bank are offering €1.3091 to the £ on their Debit Card

[Ecky Thump]

:
GBP/EUR: Currently trading at 1.3646


Fairly range-bound trading was seen yesterday as neither Carney nor Draghi said anything new. This pair traded between 1.3664 and 1.3604 as traders focused on US pairings and Yellen’s testimony. In Brussels a deal with Greece is nearly finalised, national governments must give their consent and opinion first.
Carney will be speaking this morning at the OneBank Research Agenda launch and Draghi will testify this afternoon on the ECB Annual Report 2013. Neither one of them is expected to say anything new and level trading may continue throughout today’s session.

The final chapter of the Greek extension have begun as Eurozone finance ministers approved Greece’s reform proposals. National governments must give their opinion before the deal is finally completed. The euro gained against the majority of pairings on the back of this news, a final approval is unlikely to be given before Friday so euro gains may be limited until then. After poor US data recently and further dovishness from Yellen yesterday, the dollar risks losing strength on Friday if a final deal is agreed with Greece. Speeches from Carney (10:00), Yellen (15:00) and Draghi (16:30) today will keep traders interested throughout but the real focus will be on Yellen’s testimony. Dollar weakness may be seen in anticipation of further dovish sentiment.

## A small increase on yesterday's rate of exchange with Caxton, but for some reason Ice Bank have lowered their rate..##

CaxtonFX are offering €1.3340 to the £ when you load your Euro Debit Card.

Ice Bank are offering €1.3081 to the £ on their Debit Card.

[Ecky Thump]

:
#The Pound Continues its upward growth.#

GBP/EUR: Currently trading at 1.3666

Sterling continued to climb yesterday as Varoufakis admitted that Greece would find it difficult to pay off its debt to the IMF and ECB over the next few months. Greece will be relying on the ECB; Draghi has said he’s ready to reinstate waiver of Greek bonds once a successful conclusion is foreseeable.
Focus will be on the UK today with the second estimate of GDP this morning. Forecast to remain at 0.5%, Sterling gains could continue throughout the day, perhaps even an attempt at the 1.37 level.


Fairly range-bound trading was seen across the FX markets yesterday as traders relaxed for the first time since Syriza came into power in Greece. Volatility subdued as Yellen and Draghi spoke about nothing new yesterday and Greece’s Finance Minister Varoufakis admitted that Greece would have trouble paying off all its debt. Commodity currencies seem to be faring particularly well at the moment as the NZD has seen monthly highs against the greenback on the back of strong trade balance data, CAD has strengthened against the pound as Crude broke above $60 and AUD has been experiencing a mini revival. Trading today should see some more action as we have the UK second estimate GDP at 09:30, before looking across the pond at Canadian and US CPI releases at 13:30. Mixed data out of the US could see greenback weakness whilst strong forecasts for Canadian CPI may bring further Loonie strength. UK GDP is likely to already be priced into the markets but volatility is possible if the actual result strays far from predictions.

CaxtonFX are offering €13350 to the £ when you load your Euro Debit Card.

Ice Bank are offering €1.3134 to the £ on their Debit Card.

[martincrabb99]

Morning Ecky I went into San Blas last night to purchase a hair trimmer to cut my golden flowing locks and whilst there changed £300 at €1.34 so €402....so quite pleased with that.

[TOTO 99]

Morning Ecky I went into San Blas last night to purchase a hair trimmer to cut my golden flowing locks and whilst there changed £300 at €1.34 so €402....so quite pleased with that.

You could have just left your hair at the salon to be trimmed while you nipped to the exchange a few doors down...:laugh:

[martincrabb99]

You could have just left your hair at the salon to be trimmed while you nipped to the exchange a few doors down...:laugh:

I may tie it back in a ponytail and start wearing an earring as well.....undercover Ops!

[TOTO 99]

I may tie it back in a ponytail and start wearing an earring as well.....undercover Ops!

You should be on the Costamar roof by now covering Operation Beach Bum...:laugh:

[Ecky Thump]

:
#The Pound Continues its upward growth.#

GBP/EUR: Currently trading at 1.3666

Sterling continued to climb yesterday as Varoufakis admitted that Greece would find it difficult to pay off its debt to the IMF and ECB over the next few months. Greece will be relying on the ECB; Draghi has said he’s ready to reinstate waiver of Greek bonds once a successful conclusion is foreseeable.
Focus will be on the UK today with the second estimate of GDP this morning. Forecast to remain at 0.5%, Sterling gains could continue throughout the day, perhaps even an attempt at the 1.37 level.


Fairly range-bound trading was seen across the FX markets yesterday as traders relaxed for the first time since Syriza came into power in Greece. Volatility subdued as Yellen and Draghi spoke about nothing new yesterday and Greece’s Finance Minister Varoufakis admitted that Greece would have trouble paying off all its debt. Commodity currencies seem to be faring particularly well at the moment as the NZD has seen monthly highs against the greenback on the back of strong trade balance data, CAD has strengthened against the pound as Crude broke above $60 and AUD has been experiencing a mini revival. Trading today should see some more action as we have the UK second estimate GDP at 09:30, before looking across the pond at Canadian and US CPI releases at 13:30. Mixed data out of the US could see greenback weakness whilst strong forecasts for Canadian CPI may bring further Loonie strength. UK GDP is likely to already be priced into the markets but volatility is possible if the actual result strays far from predictions.

CaxtonFX are offering €13350 to the £ when you load your Euro Debit Card.

Ice Bank are offering €1.3134 to the £ on their Debit Card.

I'm glad that TOTO 99 martincrabb99 Carol55 never spotted the missing decimal point! :whistle:

It just proves Carols "point" that I'm not perfect.:laugh:

€1.3350 to the £. !!

[Carol55]

I'm glad that TOTO 99 martincrabb99 Carol55 never spotted the missing decimal point! :whistle:

It just proves Carols "point" that I'm not perfect.:laugh:

€1.3350 to the £. !!

What I have spotted is that when you write me a cheque, then you never forget that small decimal point.:wink:

[Ecky Thump]

:

##The Pound TodayPasses The 1.37 Level!##

GBP/EUR: Currently trading at 1.3734

A combination of UK data in line with expectations, low US CPI and concerns about Greece payments to IMF, saw this pair enter an upwards sprint in Sterling’s favour. Smashing past the 1.37 mark, this pair could soon cross 1.38 and the next technical level will be above 1.40.
The preliminary CPI figures are due out of Germany today but this is likely to be overshadowed by the vote in Germany about whether to extend financial aid for Greece. Riots have begun in Athens as protestors gathered together to rally against the new government. Volatility and euro weakness are likely to continue ahead of the German vote.

The Greek debt crisis could see an end to this chapter today as a vote in Germany will determine whether or not to extend financial aid in Greece. Yesterday saw the euro weaken considerably against all counterparts and the GBP/EUR rate saw record highs as it broke above 1.375. Strong figures from US and Canadian core inflation helped lend a hand to greenback and Loonie strength. Today will see German preliminary CPI released throughout the day as 6 German states report their inflation figures, US preliminary GDP is due at 13:30. The German data is likely to be overshadowed by the vote regarding the Greek crisis and volatility could be seen in anticipation of this.

Today remembering the decimal point.:laugh:

Caxton FX are offering €1.3460 to the £ when you load your Euro Debit Card.

Ice Bank are offering €1.3212 to the £ on their Debit Card.

[martincrabb99]

Today 1.35 to the pound in San Blas

[primrose]

Today 1.35 to the pound in San Blas

That seems low considering the pound is now at 1-38.

[Ecky Thump]

That seems low considering the pound is now at 1-38.


At that rate the exchange shops/dealers are making about 2.5- 3 cents to the pound depending when they got their euros.
It's all a bit of a gamble for them at the weekend, as the exchange rate could suddenly change on Monday morning when the new rates are set by the banks....But I can't see much of a change coming.

[TOTO 99]

At that rate the exchange shops/dealers are making about 2.5- 3 cents to the pound depending when they got their euros.
It's all a bit of a gamble for them at the weekend, as the exchange rate could suddenly change on Monday morning when the new rates are set by the banks....But I can't see much of a change coming.

What a shrewd gentleman you are where finance is concerned Ecky..Marb was only saying the other day what a banker you are...:laugh:

[Ecky Thump]

What a shrewd gentleman you are where finance is concerned Ecky..Marb was only saying the other day what a banker you are...:laugh:

When you have a large income in excess of £1485 per annum you have to be very shrewd about your investments....money is not a frivolous commodity within the company that I frequent, ask marbro8 how careful I am when parting with it,:cry::cry::cry:

[TOTO 99]

When you have a large income in excess of £1485 per annum you have to be very shrewd about your investments....money is not a frivolous commodity within the company that I frequent, ask marbro8 how careful I am when parting with it,:cry::cry::cry:

Sorry, I didn't realise you were playing for a premiership club mate........god knows what you do with it all...:laugh:

[marbro8]

What a shrewd gentleman you are where finance is concerned Ecky..Marb was only saying the other day what a banker you are...:laugh:he is the reason i can dispel the myth that a scotsman is careful with his money:wink:

[Ecky Thump]

he is the reason i can dispel the myth that a scotsman is careful with his money:wink:

That's the one myth that I have always loved, then people don't get disappointed when I let them pay for all the drink that Carol can consume!:laugh:

[Ecky Thump]

:
Good News for UK Travellers to Tenerife!:)

GBP/EUR: Currently trading at 1.3752

The euro saw temporary strength last Friday as Greece came to an agreement with the Eurogroup. As Germany keep a close eye on Greece and their new reforms, Syriza will take a step back from influencing the FX markets. As the pound quickly recovered lost ground and broke the 1.38 mark, the 1.40 level appears just around the corner.
All the usual start-of-the-month data can be expected this week with today’s focus on UK manufacturing PMI and Eurozone CPI flash estimate. Both sets of data are forecast to improve slightly but Sterling strength is likely to prevail.

After three months of worry over whether or not Greece would leave the Eurozone, this chapter of the saga has come to an end as an agreement was reached last Friday. With some pressure lifted off Syriza, they should now be discussing how to resolve their debt crisis and what will happen in four months’ time. Greece’s influence should now take a step back from the FX markets, just in time for the usual start of the month data. A quick look at higher-yielding currencies reveals volatility in the commodity-currency markets, especially in Loonie pairings. As the Loonie has been pushed and pulled by oil prices, volatility has prevailed. USD weakness has likely lent a hand to this uncertainty and we expect this to continue as US figures throughout the week are forecast to be poor. The week ahead promises excitement and volatility as global releases should be of high impact and interest. Kicking off the month will be UK manufacturing PMI at 09:30, followed by the first Eurozone CPI estimate at 10:00 then the US ISM manufacturing PMI at 15:00. Eurozone and UK data are both forecast to improve whilst US figures are expected to drop off slightly. As Greece’s influence is out of the spotlight, the euro may start to recover lost ground if data is strong.

CaxtonFX are offering €1.3580 to the £ when you load your Euro Debit Card.

Ice Bank are offering €1.3217 to the £ on their Debit Card.

[martincrabb99]

That seems low considering the pound is now at 1-38.

That's tourist rate

[Ecky Thump]

That's tourist rate

I think €1.35 to the £ yesterday was a good tourist rate.

[imablue]

Torviscas Travel opposite La Nina this morning 1.35 euro.

[tfs1]

1.355 along a couple of the Vistas Beach outlets this morning, 1.352 near Fados

[martincrabb99]

1.355 along a couple of the Vistas Beach outlets this morning, 1.352 near Fados

It's getting better all the time...better, better, better!

[willowlily]

It's getting better all the time...better, better, better!


1.3520 seems to be the best you can get today, I walk by a few and fados always seem to pay the best rate so as usual gave them my business again