When do I exchange 26k worth of Euros into Pounds?
Discussion
seismic22 said:
Haven't cashed in yet. Still considering what to do but have definitely taken all advice above on board so thanks for that.
Only point of note is that I felt all the noise about last thursday was getting abit silly and so actively decided not to cash in then meaning I saved £250+. Thats probably plenty of gambling for me though as I have done a little dabbling with shares in past and the little gains I grossed were not enough for the stress it caused me!
Curious to know if OP is still holding?Only point of note is that I felt all the noise about last thursday was getting abit silly and so actively decided not to cash in then meaning I saved £250+. Thats probably plenty of gambling for me though as I have done a little dabbling with shares in past and the little gains I grossed were not enough for the stress it caused me!
Blondie said:
Chris Canning at Argentex, who’s details I got through Piston Heads, just helped me with this, very nice guy and easy to talk to. Highly recommend.
We use Chris as well for business and personal transfers, setting up an account could not be easier and Chris is always available.
ellroy said:
Sterling is likely to strengthen against the euro over coming months, the ECB has Quantative easing pencilled in until Sep 2016. That's without any Greek hiccups.
Our FX boys are pencilling in 1.47 or so towards the start of next year.
On that basis, and assuming no need for Euros, I'd cut and run sooner rather than later.
out of interest, do we still think like this now, EG 1.47 in Q1 2016?Our FX boys are pencilling in 1.47 or so towards the start of next year.
On that basis, and assuming no need for Euros, I'd cut and run sooner rather than later.
Greece still majorly in the poo, but now China ruining everyone's day...
Hi,
I have been asked to join this forum and give my opinions on a growing number of FX related questions.
In regards to Seismic's question - if you have €26k then my advice would be 'sooner rather than later'. In the past month the rates have been as high as 1.43 (which would buy you GBP £18,181.82). The rates are now around 1.36 (which would buy you £19,117.65). That is almost an extra £1k in your pocket.
You may argue that the rates will continue to move in your favour - true - this is possible. However, when I speak to my clients I never advise them to aim for the very top/bottom of the market as this is rarely achieved.
GBP/EUR rates are still expected to climb higher - through 1.40 and back towards 1.50 in the coming months.
Do let me know if would like any further information / help. Also - if market forecasts would be useful then let me know...
Chris Canning.
I have been asked to join this forum and give my opinions on a growing number of FX related questions.
In regards to Seismic's question - if you have €26k then my advice would be 'sooner rather than later'. In the past month the rates have been as high as 1.43 (which would buy you GBP £18,181.82). The rates are now around 1.36 (which would buy you £19,117.65). That is almost an extra £1k in your pocket.
You may argue that the rates will continue to move in your favour - true - this is possible. However, when I speak to my clients I never advise them to aim for the very top/bottom of the market as this is rarely achieved.
GBP/EUR rates are still expected to climb higher - through 1.40 and back towards 1.50 in the coming months.
Do let me know if would like any further information / help. Also - if market forecasts would be useful then let me know...
Chris Canning.
Edited by ChrisCanning_Argentex on Wednesday 2nd September 12:03
ChrisCanning_Argentex said:
Hi,
I have been asked to join this forum and give my opinions on a growing number of FX related questions.
In regards to Seismic's question - if you have €26k then my advice would be 'sooner rather than later'. In the past month the rates have been as high as 1.43 (which would buy you GBP £18,181.82). The rates are now around 1.36 (which would buy you £19,117.65). That is almost an extra £1k in your pocket.
You may argue that the rates will continue to move in your favour - true - this is possible. However, when I speak to my clients I never advise them to aim for the very top/bottom of the market as this is rarely achieved.
GBP/EUR rates are still expected to climb higher - through 1.40 and back towards 1.50 in the coming months.
Do let me know if would like any further information / help. Also - if market forecasts would be useful then let me know...
Chris Canning.
Great advice. Thank you very much. I might have to give you a call.I have been asked to join this forum and give my opinions on a growing number of FX related questions.
In regards to Seismic's question - if you have €26k then my advice would be 'sooner rather than later'. In the past month the rates have been as high as 1.43 (which would buy you GBP £18,181.82). The rates are now around 1.36 (which would buy you £19,117.65). That is almost an extra £1k in your pocket.
You may argue that the rates will continue to move in your favour - true - this is possible. However, when I speak to my clients I never advise them to aim for the very top/bottom of the market as this is rarely achieved.
GBP/EUR rates are still expected to climb higher - through 1.40 and back towards 1.50 in the coming months.
Do let me know if would like any further information / help. Also - if market forecasts would be useful then let me know...
Chris Canning.
Edited by ChrisCanning_Argentex on Wednesday 2nd September 12:03
No problem at all Seismic / The Doc,
For what it is worth, please find the latest GBP/EUR forecasts from Barclays:
Current: 1.36
Q3 2015: 1.44
Q4 2015: 1.47
Q1 2016: 1.49
Q2 2016: 1.51
This is based on the assumption that the Eurozone will continue to have slow growth and low inflation. They suggest that the current levels of QE (quantitative easing) may even need to be extended past September 2016, hence a weaker Euro.
Incidentally, the European Central Bank will be holding a press conference in about half an hour. This always has potential to shake the markets so we could see a lot of movement later this afternoon.
I don't want to bore people with European economics, but if anything relevant is said I will post up on here...
For what it is worth, please find the latest GBP/EUR forecasts from Barclays:
Current: 1.36
Q3 2015: 1.44
Q4 2015: 1.47
Q1 2016: 1.49
Q2 2016: 1.51
This is based on the assumption that the Eurozone will continue to have slow growth and low inflation. They suggest that the current levels of QE (quantitative easing) may even need to be extended past September 2016, hence a weaker Euro.
Incidentally, the European Central Bank will be holding a press conference in about half an hour. This always has potential to shake the markets so we could see a lot of movement later this afternoon.
I don't want to bore people with European economics, but if anything relevant is said I will post up on here...
ChrisCanning_Argentex said:
No problem at all Seismic / The Doc,
For what it is worth, please find the latest GBP/EUR forecasts from Barclays:
Current: 1.36
Q3 2015: 1.44
Q4 2015: 1.47
Q1 2016: 1.49
Q2 2016: 1.51
This is based on the assumption that the Eurozone will continue to have slow growth and low inflation. They suggest that the current levels of QE (quantitative easing) may even need to be extended past September 2016, hence a weaker Euro.
Incidentally, the European Central Bank will be holding a press conference in about half an hour. This always has potential to shake the markets so we could see a lot of movement later this afternoon.
I don't want to bore people with European economics, but if anything relevant is said I will post up on here...
I appreciate that 20/20 hindsight is easy, but do you have an opinion on what may happen over the next 4 quarters?For what it is worth, please find the latest GBP/EUR forecasts from Barclays:
Current: 1.36
Q3 2015: 1.44
Q4 2015: 1.47
Q1 2016: 1.49
Q2 2016: 1.51
This is based on the assumption that the Eurozone will continue to have slow growth and low inflation. They suggest that the current levels of QE (quantitative easing) may even need to be extended past September 2016, hence a weaker Euro.
Incidentally, the European Central Bank will be holding a press conference in about half an hour. This always has potential to shake the markets so we could see a lot of movement later this afternoon.
I don't want to bore people with European economics, but if anything relevant is said I will post up on here...
Is the OP still holding?
rdjohn said:
I appreciate that 20/20 hindsight is easy, but do you have an opinion on what may happen over the next 4 quarters?
Is the OP still holding?
Brexit fear until the referendum will weigh on the pound and if the world goes to sIs the OP still holding?
t then the Euro has become the second reserve currency of the world.However if we don't Brexit and the equities and oil bounce back big time then the european rate curve has priced in negative rates until the end of 2018.
It all depends on what happens.....
It largely depends on Brexit, doesn't it? The "forecasts" were a bit wrong, weren't they? Brexit will hammer sterling. Worries about Brexit leading up to the vote will hammer sterling. If there is Brexit, both sterling and the Euro will be hammered but I think sterling will be worse off at least in the short term post vote.
I needed to buy a chunk of Euros before xmas and got in at 1.42; perfect timing. I bought more than I needed at the time but they'll serve me through 2016. It was just a hunch, though.
I needed to buy a chunk of Euros before xmas and got in at 1.42; perfect timing. I bought more than I needed at the time but they'll serve me through 2016. It was just a hunch, though.
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