EUR Exchange Rates
Today is a vital day for Sterling Euro exchange rates as the latest set of Eurozone inflation figures are set to be announced and as these have been the focus of so much attention over the last few months should we see the figures fall more than expected today it could really generate some significant EUR weakness. Recently we have seen Eurozone inflation fall worryingly close to negative figures, otherwise known as deflation and today’s announcement is predicted to show another sharp drop which is likely to spell more bad news for the European Central Bank (ECB) and the Euro. Last week president of the ECB, Mario Draghi, stated that the central bank would be prepared to act as soon as next month to try and prevent deflation which could mean anything from pumping money into the economy to amending interest rates both of which is likely to have a negative impact on the EUR and could push Sterling Euro rates up even higher and could present some excellent opportunities to buy Euros.
Meanwhile this morning we also have Eurozone Gross Domestic Product (GDP) figures due which is hoped to have seen an improvement which may help the EUR fightback slightly if this is the case. These figures along with the inflation data could really create a significant amount of volatility for Euro exchange rates today and so, if you need to buy or sell Euros then make sure you stay in close contact with your currency broker here at Foreign Currency Direct plc so they can keep you informed of all the latest news and discuss the different options available to you. You can call straight through to our trading floor for free on 0800 328 5884 or if calling from abroad call us on 0044 1494 725353 alternatively email me directly on firstname.lastname@example.org