This week we have a number of data releases, starting tomorrow with European inflation figures. It's a good idea for those with a Euro requirement to keep abreast of these updates; this Euro report discuss how this data and other current factors could affect your Euro return. The table below shows the difference in Euros you could have achieved when buying £200,000.00 during the high and low points of the past week.
|Currency Pair||% Change||Difference on £200,000|
Yesterday afternoon Mario Draghi, head of the European Central Bank spoke and remained fairly positive in his overview of the Eurozone economy.
He commented that growth in the area had been stronger than he previously expected, the labour market is expected to improve further and the relationship between growth and inflation remains largely intact.
His comments led to a little Euro strength however they were generally similar to what he has said recently.
The Euro has managed to remain fairly strong against Sterling even though the Pound has made gains against other currencies recently, it does appear that Draghi has remained great at keeping confidence in investors and that Brexit still is favouring the Euro over Sterling.
Pre-referendum, the Pound was sat close to the 1.30 mark and even though Sterling has clawed back to pre-referendum levels against a number of major currencies lately this level does look a long way away for this pairing at present.
This morning we have a flurry of economic data for the Eurozone, including Economic sentiment, Industrial, Consumer and Services sector confidence figures all out at 10:00am.
Tomorrow we have the release of European inflation figures, and then Thursday brings us Manufacturing data at 9am closely followed by unemployment levels due out at 10:00am. U.K unemployment had gone up from 4.3% to 4.4% when released last week which led to Sterling weakness, so will the Eurozone follow suit? Finally, early on Friday morning we have German Retail Sales, with Germany being the largest economy within the Eurozone region this is fairly important and with it being released at 8am.
Those with a Euro exchange to carry out may wish to make sure they are up and about early.
As covered in the Sterling section of our website Theresa May is also expected to address Britain on Friday about Brexit, so anyone specifically interested in Euro movements against the pound may wish to keep a close eye on this as it could cause volatility for the pairing.
For the very latest movements or an up to date exchange rate for GBP/EUR feel free to contact us today on 01494 725353 and we will be more than happy to keep you up to date with the very latest action.
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