Currency Exchange Rates – GBP, EUR, USD Exchange Rates
Today has a number of key economic data sets due for release which could lead to a lot of volatility today, especially with Sterling Euro and Sterling Dollar exchange rates. We have already seen German retail sales figures come out much better than expected and UK house prices also show an improvement. Later this morning we have Eurozone consumer price index figures which is a leading measure of inflation something that is absolutely vital in the single currency economy at present, so should those figures come out showing inflation has fallen further again then it may lead to more concerns about deflation in the Eurozone and therefore possible EUR weakness, of course though strong figures would provide the Euro with a much needed boost. At present GBP EUR exchange rates are close to some of the highest levels we have seen for some time presenting some excellent opportunities to buy EUR.
This afternoon the economic data focusses on Canada and the US with Canadian Gross Domestic Product (GDP) figures which will give an indication as to the performance of their economy which has been strong, although there is a chance we may see their GDP figures fall slightly, which again could present some good CAD buying opportunities this afternoon. Following the Canadian data release the US also announce their latest GDP figures which are again expected to show quite a large drop which may result in some USD weakness. In America personal consumption figures and home sales figures are due both of which are key to the performance of the US economy and therefore the USD exchange rates.
So, while this morning could be busy for GBP EUR exchange rates this afternoon could see a lot of movement for GBP USD and CAD. So, if you need to make an international currency transfer please call us today. You can call direct to the trading floor to speak with one of our helpful currency brokers for free on 0800 328 5884 or if calling from abroad call us on 0044 1494 725353 alternatively email me on email@example.com