GBP EUR Exchange Rates

This morning the latest set of Eurozone Gross Domestic Product (GDP) figures were announced and have shown that the Eurozone grew at 0.2% in the final quarter of 2013 meaning the overall growth of the economy for last year was 0.5% which is better than expected with some concerns that the Eurozone may have slipped back into negative growth territory which would have meant the threat of recession. So, this mornings news is positive, however at the same time the latest Producer Price Index (PPI) figures were announced and came out worse than expected which has led to some EUR weakness this morning pushing GBP EUR exchange rates back up towards the 1.21 level which represents some excellent opportunities to buy Euros. However, tomorrow we have the latest interest rate decision and accompanying statement from the European Central Bank (ECB) which should give us another indication as to how the ECB see the current performance of the single currency economy with the main attention being paid to the falling level of inflation which is putting a lot of pressure on the Eurozone.

Tomorrow’s interest rate announcement coupled with Eurozone retail sales figures could lead to another busy day for the EUR and so for any clients who need to transfer funds in or out of Europe the next 48 hours could be absolutely crucial, and for all the latest news stay in contact with this currency blog.