Derek Taylor targets the “Forward Order” this week at €1.1100 on the Euro

Derek Taylor, our very own foreign exchange expert, is recommending that Travel Money Club members buying Euros this week should target their “Forward Orders” at €1.1100 for a great deal.

The “Forward Order” feature is exclusive to Travel Money Club and allows members to automatically buy currency when their target exchange rate is reached. They simply tell the us what currency to buy, what exchange rate to buy at, and the payment card to use. Then if and when the target exchange rate is reached, we automatically execute the order and deliver next business day* (for orders completed by 1pm). As it all happens in the blink of an eye, even if your target rate is only achieved for a couple of minutes, we will still execute your order!

Derek told us:

 

“As expected, GBP/EUR traded in a range of 1.1000-1.1100 until the release of UK Trade data on Thursday, which came in weaker than expected sending the Pound below the 1.1000 level to GBP/EUR 1.0965 before recovering slightly to 1.1000.

“Our range for GBP/EUR has to reflect this and so has been adjusted down to 1.0900-1.1100. This reflects the slowing UK economy, and easing of UK interest rate rise expectations.

“Watch out for UK economic data this coming week and any breaking news around Brexit negotiations. Announcements around the Brexit “divorce” negotiations and how much of a compromise Theresa May will have to make will be in focus. This “political uncertainty” means that breaking news could lead to volatility for the GBP/EUR exchange rate.”

Events for the coming week to watch out for:

Tuesday 15th August, 9.30am UK inflation (CPI) and Producer Prices. And at 1.30pm, US Retail Sales.

Wednesday 16th at 9.30am UK Unemployment data. At 1.30pm, US Housing Starts.

Thursday 17th at 1.30pm, US Jobless Claims.

Remember, breaking news moves markets!

Disclaimer: Opinions expressed are solely those of Derek Taylor and do not necessarily express the views or opinions of the Travel Money Club or any other organisation mentioned herein. These opinions are not intended to be a source of advice and any action taken as a result of this information is entirely at the reader’s own risk.

ABOUT DEREK TAYLOR

Derek is Director and Co-Founder of the Travel Money Club, as well as CEO of Taylor Associates (International) Ltd, one of the City of London’s foremost financial and market training organisations. Taylor Associates was established in 1993, specializing in derivatives, capital markets, risk and treasury training. He has personally trained in banks, brokers, asset managers, hedge funds and corporations both in the UK and overseas.

Derek’s career started in Midland Bank Group Treasury working across a broad product range including Money Markets, Foreign Exchange, Equity and Fixed income. He rose to the level of senior Director, before moving to Lehman Brothers, and then Bank of America working both in London and NY.

Derek has primarily worked as a trader, both inter-bank and proprietary, but has also spent some years as an inter-bank broker, running desks at two of the world’s leading brokerage houses, Tullett Prebon and Harlow Butler Savage (now part of the ICAP group).

Derek is a frequent speaker on Financial Markets subjects all over the World, and is an Associate of the Chartered Institute of Bankers (ACIB), a member of the Forex Association (ACI), and a member of the Society of Technical Analysts (MSTA).

* Please note that a small number of currencies are not available for next business day delivery. The actual delivery date will be clearly displayed in your order acknowledgement.

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