Derek Taylor targets the “Forward Order” this week at €1.1450 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 €1.1450 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:

The UK Brexit Secretary Dominic Raab flies off for yet more talks in Brussels, but the UE stance appears to be softening, hence a nice two week rise for the Pound against the Euro. We haven’t seen this level of Sterling strength against the Euro since mid-June.

The Italian situation is giving cause for concern, with the coalition government taking a hard stance on a massive overspend. They just don’t have the money, but it has never stopped them before! So, it may not be rosy for the UK, but bad news for the Euro. On the bright side, with trouble brewing at home, maybe the EU will warm to the UK?

We are again raising our anticipated range of GBP/EUR 1.1250-1.1450, to reflect Sterling’s strength (and Euro weakness).

Events for the coming week to watch out for:

Monday 8th October US Columbus day holiday so quiet markets expected.

Wednesday 10th October 9.30am UK Trade Balance and manufacturing output. 130pm US Producer prices and PPI inflation.

Thursday 11th October 1.30pm US Jobless claims and CPI data.

Friday 12th October 10.00am EU Industrial production.

Suggested level to buy holiday Euros.

We are raising with our suggested range, to GBP/EUR 1.1250-1.1450. We think that buying Euros above 1.1300 is a good level.

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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