The ECB released its economic bulletin yesterday which indicated that the EU economy is starting to stabilize. You can view live exchange rates at any time from our live rates page here.

Economic Bulletin shows some positivity for Eurozone

The European Central Bank published their Economic Bulletin yesterday which provided an update on economic and monetary developments in the Eurozone. The document stated that the turbulent start to 2016 has subsided and the global economy is starting to stabilise. The recovery in the Eurozone is progressing well, suggesting that the additional stimulus measures implemented by Mario Draghi, President of the ECB, are starting to have a positive effect and they will continue to use all tools available for as long as necessary.

Although the overall tone of the document was fairly positive, the Euro weakened against the Pound and the Dollar yesterday. This is most likely because of positive employment data from the US causing investors to move their funds out of the Euro and into the safer haven of the USD.

Euro data releases this week

Looking to next week, Imports, Exports and Trade Balance (the calculation of Exports minus Imports) data for Germany will be announced in Tuesday morning and this is a key indicator of the performance of the European economy as Germany is considered the industrial powerhouse of Europe.
The key information to watch out for on Friday is Gross Domestic Product figures for the first quarter of this year.

This is the total value of all goods and services within an economy, and will be used to determine the economic performance in the Eurozone. If this data is positive as the ECB Economic Bulletin has suggested it should be, we could see Euro strength, and anyone looking to purchase Euros with Sterling may want to do so sooner rather than later.

Today sees the release of Euro GDP figures for Q1 which are expected to come in positive. Euro buyers may wish to take the opportunity sooner rather than later so feel free to call us 01494 725 353 or email ajs@currencies.co.uk to make a purchase.

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