Sterling Euro Exchange Rates
Yesterday’s key inflation figures for the Eurozone showed that there was a slight improvement with the figure coming out at 0.8% which could be an early indication that the recent interest rate cut and the fact the European Central Bank (ECB) cut deposit rates to negative levels are having a positive impact. However, it is still far too early to say that the ECB cuts are working and the Eurozone is still far from out of the woods with inflation remaining a concern and the comments from ECB President Mario Draghi that they will act again continues to leave the door open for further interest rate cuts or potentionally even Quantitative Easing both of which could cause some major Euro exchange rate movement. Next week it looks set to be a quieter week for economic data sets for the Eurozone so it is likely that UK Retail Sales and the Bank of England minutes will be the main driver of any movement on GBP EUR exchange rates next week.
If you need to buy or sell Euros and would like to discuss the options available to you to make the most of the current near two year high call us today on 0800 328 5884 or if calling from abroad call us on 0044 1494 725353 alternatively you can email me directly on firstname.lastname@example.org
CAD Exchange Rates
Today the Canadian Consumer Price Index figures are due to be released and so will show that latest inflation figures which are expected to show a drop on a monthly basis which could cause some Canadian Dollar (CAD) weakness which may mean that even though we are currently close to a 5 year high against the Canadian Dollar the rates could still have room to push up even higher. The Canadian inflation figures are due to be announced at 13:30 BST today so there is plenty of time to discuss the options available to you prior to this announcement so call straight through to our trading floor to speak with one of our experienced currency brokers on 01494 725353.
Malaysian Plane Disaster
While the news continues to break from the terrible Malaysia jet crash late yesterday the markets will be watching closely, should there be any signs of foul play then we could see a flight to safety as investors look to put funds in “safe havens” such as the US Dollar and the Swiss Franc which could cause unexpected and significant swings in the exchange rates. If you want to be kept informed of all of this movement make sure you register your interest with us so we can discuss your currency requirements and discuss how we can assist.