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 €1.1400 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:

This morning (Monday 11th June), saw an announcement that UK factory output has slumped to the lowest level seen since 2012. The impact on the Pound was instant, with it dropping back towards GBP/EUR 1.1300.

In addition, the G7 summit in Canada over the weekend ended in animosity from all nations at Presidents Trump’s tariffs on trade. He reacted with jibes about the disproportionate contribution that the US makes to NATO, and tweeting “Fair trade is now Fools trade”.

Events for the coming week to watch out for. It’s a big week for economic data, especially Wednesday, plus a US interest rate announcement.

Monday 11th June – 9.30am UK Industrial output, and Trade Balance. Both showed unexpected falls.

Tuesday 12th June – 9.30am UK Unemployment data.

Wednesday 13th June – 9.30am UK inflation data. 10.00am EU Industrial production and employment data.

Wednesday 13th June – 1.30pm US Producer prices. 7pm FOMC rate announcement.

Thursday 14th June – 9.30am UK Retail Sales. 1.30pm US Jobless claims.

Friday 15th June – EU Inflation data. 2.15pm US Manufacturing and Industrial output.

Suggested level to buy holiday Euros.

The GBP/EUR currency pair is still within the 1.1200-1.1500 range.

We suggested buying Euros above GBP/EUR 1.1400, which now looks a good level to purchase your holiday Euros. Please try our rate tracker and forward order facilities, and let us watch the markets for you.

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.


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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