Interest Rates Kept on Hold – GBP EUR Exchange Rates

Yesterday, as expected interest rates for both the UK and the Eurozone were kept on hold at their respective record low levels. However, during the accompanying speach Mario Draghi, head of the ECB, mentioned that the central bank had risen their growth forecast to 1.2% which gave the EUR a boost and pushed GBP EUR exchange rates down. Having said this the Mr Draghi did also revise down the single currency economies inflation figures which is clearly still a concern for the Eurozone. These comments have meant that we saw rates on Sterling Euro move back down from the high levels we had been previously witnessing and the trend for the end of the week is now negative. However, today we have German industrial production figures and UK consumer inflatino expectation figures which may have an impact on the exchange rates. So, if you need to buy Euros it is certainly worth speaking with one of our experienced currency brokers who will be happy to discuss the options available to you.

CAD USD Exchange Rates

The day finishes today with a raft of economic data for Canada and America with Canadian import and export figures, and the key unemployment figures all of which can have a big impact on GBP CAD exchange rates. At the same time as the data releases from Canada we have the vital US non-farm payroll services which is a measure of the people in employment outside of the seasonally effected agriculture industry and as these figures are so large they often vary widely from the predicted figure meaning it can usually cause big swings in the USD exchange rates. There are also US unemployment figures and a speach from a member of the Federal Reserve Bank of America which are also going to be important for Dollar exchange rates.

So, if you need to transfer funds internationally please ensure that you speak with us today so we can discuss your currency requirements and the options available to you. You can call us for free on 0800 328 5884 or if calling from abroad call us on 0044 1494 725353 alternatively you can email me directly on trh@currencies.co.uk