This Euro report will examine the factors that could affect exchange rates this week in order to help you stay informed if you need to make a currency transfer. The table below shows the difference you would have received when buying £200,000 at the high compared to the low during the past 30 days.
|Currency Pair||% Change||Difference on £200,000|
Today we have Inflation data for June released first thing in the morning alongside unemployment figures. We have seen inflation steadily rise in the past few months and with a lot of positivity surrounding the Euro at the moment this could see the Pound suffer further for the start of the week. Especially if the UK figures later today look negative too. Sterling has really been under the pump in recent weeks against the Euro and in my view I think this is set to continue for some time to come. Those with a EUR/GBP requirement have never seen such attractive levels in which to transfer their funds, and I would strongly recommend picking up the phone today and speaking with one of our expects and when might be the best time to complete your transaction.
Tomorrow we have GDP figures for Q2 of this year. As well as inflation, this has been steadily rising and the economy is expanding at a decent pace, mainly due to France and Germany. With this positive news for the Euro zone and growth continuing at a steady pace I think the Euro could continue to strengthen at a steady pace over the next quarter. Over the last 30 days a well-timed EUR/GBP €200,000 sell back requirement would have gained you an extra £7,250 which is why it is vitally important to be in regular contact with your account trader here.
In my view the next couple of months could be a vital time for the future of the Eurozone and also the long-term future for the UK. With the German Election only a number of weeks away now in my view the headlines within Europe will soon start to turn away from Brexit trade deals and focus on who may be the next leader of Europe’s most powerful economy. Historically elections have usually been market movers in terms of exchange rates, generally causing uncertainty and therefore creating weakness for the currency in question. In my view this could be a bit of lifeline for Sterling as we start to move closer towards the election at the end of September.
It is a fairly busy week ahead in terms of data releases for the Eurozone, we have inflation data for June due today along with unemployment figures, on Tuesday we GDP figures for Q2 and on Thursday we have retail sales figures for June.
For more information on how future data releases could affect your upcoming currency requirement, call our trading floor on 01494 725 353 or email me here.
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