GBP EUR Exchange Rates

This morning we have heard the latest Gross Domestic Product (GDP) figures from some of the major Eurozone economies and the positive news was that France avoided recession by posting growth of 0.3% in the last quarter of 2013 which may help the Eurozone GDP figures which are due out later this morning. France is the fifth largest economy in the world and makes up a huge portion of the Eurozone and in recent times has been posting poor economic figures which has been a contributing factor to the recent economic problems in the single currency economy so the positive figures from France may result in a small reversal of fortune. Should the Eurozone GDP figures, which are due out at 10am, show growth better than forecast then we could see some EUR strength and considering GBP EUR exchange rates are currently close to the highest levels in over a year and again have crept up this morning it may mean that the current good buying opportunities are short lived. With very little economic data due out today the main influencing factor for this currency pair is likely to be this morning’s GDP figures. So, if you would like to keep in touch with all the latest news make sure you speak with one of our currency brokers here at Foreign Currency Direct plc by calling us on 0800 328 5884.

USD Exchange Rate Outlook

Later today we have some key economic data due for the US which could cause volatility for the USD. This data includes import figures, industrial production figures and consumer sentiment figures all of which will help paint a clear picture of the US economy, should the figures be positive we may see some USD strength. At present we are close to the highest levels on GBP USD for 4 years presenting clients with excellent opportunities to buy USD however if these figures are strong then we may see these levels fall back and so considering this data release is not out until later today there is still time to make the most of the current, strong exchange rates.

So, if you need to make an international currency transfer please contact us today. You can call straight through to our trading floor for free on 0800 328 5884 or if you are calling from abroad call us on 0044 1494 725353, alternatively you can email me directly on trh@currencies.co.uk