This currency update examines factors that could affect Euro exchange rates. In the table below you can find high to low GBP/EUR exchange rate movement and the difference when exchanging £200,000 to Euros during the last month.
|Currency Pair||% Change||Difference on £200,000|
Many are aware of the changing political landscape across Europe and the importance of this as we enter the Brexit negotiations. Only recently France appointed a new government however the results highlighted the rise of the far-right party’s popularity across mainland Europe.
We have the German election on the 24th September which is expected to be key, they are seen as the ‘power room’ to Europe both politically and economically.
Now we have another election potentially pending – that being in Austria. Their Chancellor confirmed this as a direct result of the coalition partners abruptly ending their alliance earlier this month.
Currently polls suggest far-right parties will once more do well there. The argument seems to stem from the continual challenge of a central policy across the whole of Europe and the immigration crisis. The central policy continues to challenge governments, for example the French private sector employment has risen to the highest level since the financial crisis.
Even though the immigration crisis has not hit the main media recently the number of people seeking asylum is still climbing, in Italy the number from North Africa so far this year has risen by 44% compared to the same period last year.
These are topics to continue to watch as they are likely to have a continual impact on the value of the single currency and therefore the cost of anything from buying a property in the Alps to importing products and services.
Tomorrow we have a number of key reports from Europe which is likely to impact the cost of buying the euro. The latest GDP figures are released at 8:30 and are expected to be confirmed at 0.6%, higher than initially expected. Germany reported earlier this month that they achieved their best ever month for import and exports in March so watch this event as many expect the Euro to get more valuable and expensive as a result.
Thank you for reading my Euro currency report, if you have any questions about Euro exchange rates I would be more than happy to discuss them – you can contact me with any queries at email@example.com.
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