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 €1.1350 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:
A top EU legal advisor has stated that Britain has the right to withdraw from Brexit. The General Advocate for the European Court of Justice published an opinion in which he said that the UK could unilaterally revoke Article 50.
The Pound roared up but then Mark Carney at the Bank of England said in a speech that:
EU producer prices came in better than expected this morning giving a small boost to the Euro.
We are easing our anticipated range slightly to GBP/EUR 1.1150-1.1350. But watch out for the political manoeuvrings’ leading up to the parliamentary vote.
Events for the coming week to watch out for:
Please note. As well as the G20 in Argentina, there is a lot of scheduled rhetoric coming from the US this week.
Tuesday 4th December 10.00 am EU Producer prices (came in better than expected).
Wednesday 5th December 10.00am EU Retail Sales. 1.15pm US Employment report.
Thursday 6th December 12.45pm ECB rate announcement, 1.30pm US Jobless claims and factory orders.
Friday 7th December 8.30am UK Halifax house prices. 10.00am EU employment and GDP. 1.30pm US Non=farm Payrolls.
Suggested level to buy holiday Euros.
We are easing our anticipated range to GBP/EUR 1.1150-1.1350. We think that buying holiday Euros above 1.1250 looks good.
Try our rate tracker and forward order facilities, and let us watch the markets for you.
Remember, breaking news moves markets!
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.
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 $1.3700 for a great deal.
THE ULTIMATE GUIDE TO TIPPING WHILE ABROAD Just a third of Brits leave a tip whilst abroad and more than half confess to being confused by local tipping customs. Tipping whilst abroad can be a minefield, no matter what your personal opinions on rewarding stellar service, too low or too high can […]