European Unemployment Increases
Yesterday it was confirmed that both French and Spanish unemployment had hit new highs with 3.2 million people seeking work in France and Spanish unemployment hitting 27.2% unemployment, this means that between the two countries alone unemployment is over 9 million people. This is more negative news for the single currency economy the day after it was confirmed that the UK was not in recession. Both governments stated that they were targeting reducing the enormous unemployment figures in their country but with recession still taking effect in the single currency economy I think it is hard to see the unemployment rates falling significantly any time soon. In fact it is more likely that we will see unemployment remain high for some time to come which could maintain the pressure on Euro exchange rates.
If you need to buy Euros and you are looking for exceptional Euro exchange rates make sure you speak to one of our experienced currency brokers who will be happy to discuss your currency requirements and the different options available to you so you can make an informed decision as when best to trade.
US GDP Figures Due
This afternoon we are expected to hear the latest American Gross Domestic Product (GDP) figures which are forecasted to come out strong showing the US economy is improving. If this is the case we could see some Dollar strength which would be good news for those clients looking to sell Dollars but may mean that for those clients looking to buy USD it could become more expensive after the announcement. So, if you need to transfer money to America speak to us today so we can explain the options open to you.
You can call straight through to our trading floor on 01494 849852 or alternatively email me on email@example.com.