Getting the best exchange rate can be achieved by understanding what is driving rates and the service of a specialist currency broker. Below are movements in the past 30 days affecting Euro rates when buying £200,000:
|Currency Pair||% Change||Difference on £200,000|
The Eurozone’s recent run of impressive economic data releases continued yesterday in the form Services Sentiment, Industrial Confidence and Business Climate Indicator, all of which saw figures significantly outperform estimates and previous levels. This allowed EUR/USD rates to climb almost a further 0.5 cent to fresh highs of 1.142 not seen since May 2016. The strong performance of the Eurozone and bullish tones coming from head of the ECB Mario Draghi however are being matched step for step by UK data releases and Governor of the Bank of England Mark Carney, recently shedding his usual dovish tone with regards to future monetary policy.
If you have a Pound to Euro transfer requirement why not sign up for a free account here at Foreign Currency Direct where you will be designated your own experienced personal account broker who can watch the market for you and alert you if rates begin to move in your favour.
This morning at 10:00am Consumer Price Index (CPI) figures are released for the Eurozone, capturing changes in the price of goods and services within the economy. With lacklustre inflation one of the biggest obstacles in the Eurozone currently stopping Mario Draghi from shifting away from his current ultra-loose monetary policy stance, a bullish outcome above the 1.2% consensus could be seen by the market as the final piece in the puzzle to begin tightening the vast levels of quantitative easing and increase interest rates in the near future.
Monday of next week we see the release of unemployment data at 10:00am for the Eurozone as a whole, Thursday ECB Monetary Policy Meeting Accounts are released at 12:30pm and will give the market an insight into the rationale behind current monetary policy decisions of ECB members.
For more information on how future data releases could affect your Euro requirement, call our trading floor on 01494 725 353.
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