Derek Taylor targets the “Forward Order” this week at €1.1400 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 €1.1350 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:

All the news has been bad for the Pound and negative for the UK economy. A lot of the FX “pundits” have been talking the Pound down, based on Brexit. That generally means that all the people that need to sell pounds against other currencies, for commercial of investment reasons, will already have done so. Therefore all the bad news has already been discounted in the price. The following day, the government defeated a vote of no confidence and the Pound rallied.

Events for the coming week to watch out for:

Tuesday 22nd January – 9.30am UK Unemployment and earnings data. 3pm US Home Sales.

Wednesday 23rd January – 11.00am UK Industrial trends.

Thursday 24th January – 12.45pm EU ECB rate announcement. 1.30pm US Jobless claims.

Friday 25th January 9.30am UK GDP. 1.30pm US Durable goods and 3pm Single family home sales.11th January 9.30am UK Trade balance and manufacturing output, 1.30pm US Inflation data (CPI).

Suggested level to buy holiday Euros.

We are raising our anticipated range to GBP/EUR 1.1200- 1.1400. Anywhere close to 1.1400 looks a very good level to buy Euro’s.

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.

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