What's the current exchange rate in Tenerife?

[Ecky Thump]

EU Referendum continues to put pressure on the Pound.

GBP/EURO: Currently trading at 1.2592


The rate held within the 1.25 range yesterday. The euro briefly strengthened as Final CPI y/y was upwardly revised from -0.1% to 0.0%. The pound briefly weakened around the time of the BOE meeting as the MPC maintained a relatively dovish tone, but losses were limited. The euro briefly strengthened again around the release of underwhelming US inflation data.
There are no major releases expected from either the UK or the Eurozone today. As a result, the rate may remain around current levels or weaken in the euro’s favour. The official start of the UK’s EU referendum campaign today could keep market attention on Brexit, maintaining relative pressure on the pound.


The pound largely maintained its ground yesterday, weakening slightly following the Bank of England meeting. The BOE held interest rates at 0.50% as expected and cautioned that inflation remains well below its target rate of 2% despite a recent pick up to 0.5%. The BOE also discussed the risks posed by the upcoming referendum and attributed much of recent losses by Sterling to Brexit concerns. US inflation was under forecast at 0.1% m/m and 0.9% y/y, while core inflation fell to 0.1% m/m and 2.2% y/y. Eurozone CPI y/y was revised up from -0.1% to 0.0%. This morning, China’s GDP growth met expectations at 6.7% while Industrial Production rose more than forecast. Other releases today include Industrial Production, Empire State Manufacturing Index, and Preliminary Consumer Sentiment from the US, as well as Canada’s Manufacturing Sales. The UK’s EU referendum campaign officially begins today.

CaxtonFX are currently (10:55) offering €1.2309 to the £ when you load your Euro Debit Card.

[Ecky Thump]

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Oil prices affects the worlds monetry markets.

GBP/EURO: Currently trading at 1.2551

After an initial gain in the rate on Friday morning, it reversed course over the rest of the day after meeting resistance around 1.2595, holding within the 1.25 range. There were no major economic releases from either the UK or the Eurozone.
There are no major releases expected from either the UK or the Eurozone today. As a result, the rate may remain around this level, while markets keep an eye on risk sentiment and commodities. Later in the week, markets will look for employment data from the UK and the ECB’s meeting on Thursday, likely to be a non-event following March’s stimulus announcements.


Oil prices and commodity currencies weakened heading into this morning’s session after yesterday’s oil summit in Doha failed to result in an agreement to freeze production levels. Saudi Arabia reiterated its demand that other producers, including Iran, commit to the freeze. Iran intends to return production to pre-sanction levels before considering freezing production. While anticipation of a deal had led to gains in oil prices, the ongoing supply glut remains a risk to oil price strength even if a deal is agreed. Given a lighter economic calendar today, market movement may be guided largely by oil prices and Fed comments. FOMC Members Dudley (1:30pm), Kashkari, and Rosengren are among the day’s speakers and will provide the final Fed comments ahead of next week’s meeting. Markets will look for any updated guidance following last week’s under-forecast US inflation and industrial production releases. The main release today is Canada’s Foreign Securities Purchases.

CaxtonFX are currently (15:55) offering €1.2317 to the £ when you load your Euro Debit Card.

[Ecky Thump]

Pound makes some progress over the Euro

GBP/ EURO: Currently trading at 1.2675

Sterling strengthened against the euro yesterday, gaining approximately a cent and breaking back above the 1.26 mark. While there were no major economic releases out to spark the movement, the pound likely benefited from profit-taking as the week’s trading began.
The main releases for this pairing today are Economic Sentiment figures from Germany and the Eurozone as a whole, which both rose more than forecast and may offer the euro support this morning. In the afternoon, markets will keep an eye on comments from BOE Governor Carney for any forward guidance. The rate may remain around current levels or weaken in the euro’s favour.


As the economic calendar got off to a light start, markets focused largely on oil, which recovered ground lost following the disappointing meeting in Doha. Gains are also partly attributable to an ongoing strike in Kuwait, which has roughly halved the nation’s daily output. Investors took advantage of dips in exchange rates to buy commodity currencies, helping to reverse earlier losses. Elsewhere, in final comments before next week's Fed meeting, Fed Member Dudley emphasised that a “cautious and gradual” approach is likely necessary, while a more hawkish Rosengren said that investor expectations for rate hikes are too low. Today’s calendar includes German and Eurozone Economic Sentiment, US housing data, the Global Dairy Trade Price Index, and comments from RBA Governor Stevens, BOE Governor Carney, and BOC Governor Poloz.

CaxtonFX are currently (15:20) offering €1.2388 to the £ when you load your Euro Debit Card.

[Ecky Thump]

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Good News for UK Pension Holders in Tenerife!!


GBP/EURO: Currently trading at 1.2662

The pound strengthened against the euro yesterday, breaking above the 1.26 mark to trade at its highest levels this month, meeting resistance around 1.2685. There were no major releases from the UK and above-forecast Economic Sentiment figures from the Eurozone and Germany offered the euro minimal support in the morning.
Markets will keep a close eye on UK data this morning for any surprises. If wage growth and unemployment figures come in as forecast there may be little reaction in the rate, while disappointing figures could reverse some of yesterday’s gains and above-forecast figures could strengthen the rate again.

The pound traded at April highs against both the euro and the dollar yesterday. Sterling-dollar broke above 1.44 for the first time since the end of March as disappointing US housing data added to greater dollar weakness and the pound received additional support from a Brexit poll showing a lead by the Remain vote. Today’s releases include employment data from the UK this morning. While Average Earnings and the Unemployment Rate are both forecast to remain unchanged, at 2.1% and 5.1% respectively, any surprises could prompt movement in the pound. Disappointing figures in particular could pose a risk to the pound’s recent gains, while above-forecast wage growth could offer it some additional support. Other items to keep an eye on include Canada’s Wholesale Sales and US Existing Home Sales, as well as comments from ECB President Draghi (11:00am) and MPC Member McCafferty (2:00pm).


CaxtonFX are currently (11:30) offering 1.2376 to the £ when you load your Euro Debit Card.

[Ecky Thump]

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No major exchange rate change seen or expected.

GBP/EURO: Currently trading at 1.2728

After an initial drop within the 1.26 range following the release of disappointing UK Retail Sales, the rate strengthened above 1.27 heading into the ECB’s press conference, dropping as ECB President Draghi assured markets rates would remain low and did not talk down the euro as markets had perhaps expected. The rate then traded between the upper 1.26 and low 1.27 ranges for the rest of the day.
French, German, and Eurozone Flash Manufacturing and Services PMI figures out this morning had limited impact on the rate, which returned above 1.27 after an initial dip. Markets will also keep an eye on any headlines from the day’s Eurogroup and Ecofin meetings. The rate may remain around this level barring any surprises.


As was largely expected, the ECB yesterday voted to keep monetary policy unchanged. The main refinancing rate remains at 0.00% and the deposit rate at -0.4%. The euro strengthened against both the pound and the dollar, likely at least partially as a result of some speculation that ECB President Draghi might talk down the euro during the press conference. Following the conference, attention turned to the drop in US weekly Unemployment Claims to 247K, a multi-decade low, which offered the dollar support as a strong labour market supports the case for raising interest rates. Earlier in the morning, the pound had weakened temporarily as UK Retail Sales fell more than expected. Today’s calendar includes this morning’s Eurozone Flash Manufacturing and Services PMI figures, Canadian CPI and Retail Sales out this afternoon, and Eurogroup and Ecofin meetings.

CaxtonFX are currently (11:15) offering €1.2439 to the £ when you load your Euro Debit Card.

[bennoa1]

Rate creeping up slowly which is good news for us travellers. I'm out Thursday so will be taking cash and hope the rate keeps creeping up.

[Ecky Thump]

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Good news for Holidaymakers as the Pound remains in the 1.2750 -- 1.2930 range.

GBP/EURO: Currently trading at 1.2910

The pound held within the 1.28 range yesterday, testing but not hitting the next resistance level of 1.2900. The pound largely was able to maintain last week’s momentum, strengthening again after an initial dip as markets opened in the morning. German Business Climate unexpectedly dipped from 106.7 to 106.6.
There are no major releases expected from either the Eurozone or the UK today. As a result, the rate may remain around this level or strengthen further in the pound’s favour, again breaking above the 1.29 mark, with little out to check the pound’s momentum barring any unexpected headlines.


The pound largely maintained its ground yesterday and has continued to strengthen this morning. GBP/EUR has broken above 1.29 to hit a new one-month high, while GBP/USD has traded above the 1.45 mark this morning at its highest levels since mid-February. The pound has maintained its momentum from last week on the back of a reduction in Brexit concerns and support for the Remain campaign, including from recent comments from President Obama. The economic calendar got off to a relatively quiet start yesterday as both German Business Climate and US New Home Sales were softer than expected. Today’s releases include US Durable Goods Orders and Consumer Confidence. Bank of Canada Governor Poloz speaks twice today (1:55pm and 2:50pm), and MPC Member Cunliffe speaks this evening (6:00pm).

CaxtonFX are currently (11:55) offering €1.2618 to the £ when you load your Euro Debit Card.

[Ecky Thump]

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.My Last Euro Report For One Month....I'm off to Tenerife to Spend My Euro's !!



GBP/EURO: Currently trading at 1.2860

The pound strengthened slightly further against the euro yesterday, breaking above the 1.29 mark and fluctuating between the low 1.29 and upper 1.28 ranges for the rest of the day. There were no major economic releases from either the UK or the Eurozone.
Today’s releases include M3 Money Supply from the Eurozone, which held at 5.0% as forecast, and the UK’s Preliminary Q1 GDP. Slower GDP growth may pose a risk to the pound’s strength against the euro and could reverse some of the pound’s recent strength. An above-forecast release could instead strengthen the pound further against the euro.


As the pound strengthened further yesterday, GBP/EUR broke above 1.29 and GBP/USD above 1.46 to reach new recent highs. Today, markets will look to Preliminary Q1 UK GDP (9:30am), which is forecast to slow to 0.4% from 0.6% in Q4 2015 and could weigh on the pound, posing a risk to its recent strength. The other highlight today is this evening’s Fed meeting (7:00pm). While the Fed is not expected to change monetary policy, the accompanying statement will be closely watched for any changes in language, particularly the implications for a possible June rate hike. Recent underwhelming data, including yesterday’s disappointing Durable Goods Orders, have increased speculation that the Fed could take a more dovish tone, while strong signals that June remains on the table for a rate hike could lead to a more hawkish interpretation of the statement. Other items on the calendar include US Pending Home Sales and the Reserve Bank of New Zealand’s interest rate decision.

CaxtonFX are currently (10:25) offering €1.2606 to the £ when you load your Euro Debit Card.

[macdonald5]

Enjoy ( daft statement ) a lovely month in the sun [MENTION=41]Ecky Thump[/MENTION] and Mrs

[Ecky Thump]

Sitting with a cool Dorada sin alcohol at Pimms Bar,I noticed the exchange rate at the money exchange next door to Faldo's is €1.2442 to the £, but more importantly it's 25c and sunny!