It would seem that the Eurozone is coming off relatively unscathed following from the UK’s decision to leave the EU, now that the initial panic over how it would impact the trading union has eased. Research group Sentix has announced a large rise in investor morale since July, claiming the initial shock only lasted a short while, and is likely to have been caused by the UK not really taking any steps to begin leaving the EU yet.
Other Eurozone data releases this week have been mostly positive too, including better than expected German Imports and Exports data on Tuesday. This, combined with a poor UK GDP Estimate for July, resulted in another great opportunity for anyone selling Euros.
The main focus now will be on Friday, when we will see a whole host of European data releases. At 7am, Germany’s Consumer Price Index and GDP data will give us an insight into the economic outlook for the Powerhouse of Europe, followed by GDP figures for the whole of Europe at 10am. If these data releases continue along the positive trend we could see some more excellent opportunities for Euro sellers. Any clients with a large Euro purchase in the near future may wish to limit their exposure to rate movements by securing one of our Forward Contracts. This is where we lock in the current rate of exchange with a small deposit for up to 12 months, and allows you to plan your purchase without any risk to further Sterling falls.
Other Eurozone data releases this week have been mostly positive too, including better than expected German Imports and Exports data on Tuesday. This, combined with a poor UK GDP Estimate for July, resulted in another great opportunity for anyone selling Euros. It has been announced that the UK’s participation in the EU could add 4% to UK GDP, and with Brexit talks continuing, I feel that this will still remain the main catalyst to GBP/EUR exchange rates over the coming months.
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It was really refreshing to go through a process that had absolutely no hiccups at all, the service that we were offered exceeded our expectations. We would unreservedly recommend the company to anyone seeking to exchange currency.
Very efficient service. I’ve never used a service like this before & was purchasing a house in France. It was all explained very well & I was kept informed all along the process. Putting a deposit down to pre-book the rate also saved us a fortune.