Unemployment in Europe Hits Record High

It was confirmed yesterday that unemployment in Europe had risen to a record high following news that inflation in the single currency economy had fallen considerably which makes the overall picture of the European economy is in a bad state. Unemployment rose to 12.1% overall mainly effected by the rising figures in both France and Spain which also have hit record high figures, in the meantime inflation fell to 1.2%  from 1.7% which is a sharp fall and although still shows that the price of goods and services is increasing the overall picture is very gloomy. All of this news comes just before the key interest rate decision for the Eurozone where there has been a call for an interest rate cut which could have big implications for Euro exchange rates. Should interest rates be cut we could see GBP EUR exchange rates rise presenting some good opportunities for clients looking to buy Euros however if interest rates are not changed then we could see GBP EUR exchange rates weaken slightly as this could mean the current predictions are slightly wide of the mark. Either way tomorrow is the first interest rate decision we have seen for some time where there is a slight uncertainty as to the result which could make for a big day on the currency markets. If you have a Euro currency requirement and would like to assess the currenct exchange rates and the options available to you then please speak to one of our currency brokers today.

US Interest Rate Decision – USD Exchange Rates

Tonight the Federal Reserve Bank of America (FED) will announce their latest interest rate decision, the expectation is that the rates will remain on hold at 0.25% where it has been for many months. So, while it appears unlikely that there will be a change in interest rate it is possible that any accompanying rehtoric from the FED will give an insight into how the US central bank view the world’s largest economies performance. Recently we have seen the US economy post some good GDP figures, which despite being below expectation where still positive – considerably more so than the UK’s recent GDP numbers and so it does appear that the US economy is finally on a positive trend which could mean we see the US Dollar gain even more strength against a number of the major currencies. If you are looking to buy USD then speak to us today to discuss your currency requirements and the options open to you.

If you are looking to transfer money abroad and you are looking for the best exchange rates then make sure you speak to us today so we can examine the different methods as to how we can assist you. If you would like to discuss your currency requirements at any time please do not hesitate to contact us on 01494 849752 or alternatively email me directly on <ahref=”mailto:trh@currencies.co.uk”>trh@currencies.co.uk.