Tomorrow we have multiple data releases from Germany, including unemployment figures for March. This is key for the Eurozone, and if the figures come out as lower than expected we could see some Euro weakness. 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 month.

Currency Pair% ChangeDifference on £200,000
GBPEUR3.1%€6,930 EUR

Euro weakens on fears over economic slowdown

The Eurozone economy could be showing signs of a slowdown, after an Economic Sentiment report from the European Commission released yesterday showed a fall in March for the third month in a row. The Economic Sentiment figure was released at 112.6, down from 114.2 in February, which was below expectation and caused the Euro to weaken yesterday afternoon as a result.

European Inflation expectations have also been falling lately, along with business sentiment in Germany (Europe’s largest economy) also falling to an 11 month low last week.

The main areas where economic sentiment has been falling are in the manufacturing, services and retail sectors, although the construction sector showed a little more hope. The European Commission are also expecting growth within the Eurozone to slow from 2.4% in 2017 to 2.3% this year. The Euro weakened against the Pound and the US Dollar during yesterday afternoon following this news and provided our clients another opportunity to buy Euros.

European Stimulus Package Agreed

German economic data to influence EUR exchange rates

Economic data today is relatively light, however looking ahead to tomorrow we will see the release of a flurry of data from Germany, the Powerhouse of Europe, which are highly likely to influence Euro exchange rates. Unemployment figures for March will be released at 9am and considering this is one of the areas of concern amongst businesses in the region, if these figures disappoint we could see the Euro weaken as a result.

Then at 1pm, preliminary Inflation figures will be released and are expected to show an improvement from 1.2% to 1.5% for the month of March, compared to March 2017.

If any of our clients are looking to transfer Euros over the coming days, we have a number of contract options available to you to help you to get the most from your transfer. Get in touch with us today to find out how we can help you.

For more information on how future data releases could affect your currency requirement, call our trading floor on 01494 725 353 or email me here.


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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.