Will GDP see some of the gains made on GBP/EUR eaten into?

Buying Euro exchange rates have been one of the major winners for Sterling holders over the past few weeks. Yet the spotlight will be shared for a time today between events in the UK, and an exciting first look at growth in the Eurozone for the final quarter of last year. Projections are fairly robust. Compared to quarter three, growth is expected to almost double from 0.3% to 0.5%. Whilst not a massive percentage, these figures represent billions in revenue, and should the figures come in as expected, should catch the attention of the marketplace and could well see the Euro become a more expensive prospect.

Furthermore inflation, a major barometer to decide whether interest rate changes and emergency financial assistance to the Eurozone, will also be released and is expected to reflect a much healthier performance this month.

With likely positive news for the Euro to be released from two areas of the EU economy at 10:00, Euro buyers may be wise to take advantage of any spikes with may occur at 9:30 UK time, which may end up being something of a ‘sweet spot’ today for buyers.

Growth, growth, growth – the continued topic for the Eurozone this week

Growth will continue to be talked about this week, and is always the focal point of currency market movement, as investors always look for return on investment.

Whilst immediately today we have growth figures, tomorrow at 10:00am we will be given growth forecasts for the Eurozone moving forward from the European Commission.

This in itself will be a good barometer with which to gauge future Euro performance. As such, anyone with a medium to long term Euro transfer would be wise to make sure your account manager here is aware of your situation. Analysis from the document can be summarised for you and the most appropriate options relayed in order for you to make an informed decision on your transfer.

Thank you for reading my Euro report this morning, for any questions relating to Euro exchange rates feel free to get in touch with me at jjp@currencies.co.uk. You can also call our trading floor number on 01494 725 353.

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Exchange rates on this page are interbank rates and indicate where the market is trading to show the performance of a currency pair. They are not indicative of the rates which we offer. The information on this web site is provided free of charge for information purposes only. It does not constitute advice to any person on any matter. Foreign Currency Direct plc. ("FCD") makes every reasonable effort to ensure that this information is accurate and complete but assumes no responsibility for and gives no warranty with regard to the same.