With the currency markets moving every two seconds, it can be vitally important to be aware of what is driving the currencies in or out of your favour. The table below shows the difference in Euros you would have achieved when buying £200,000 during the high and low points over the past 30 days.
|Currency Pair||% Change||Difference on £200,000|
Over the last week we have seen just how far the currency markets can shift in a short space of time, with the GBP/EUR rate hitting more than 8 month lows and recovering to more than 1 month highs all in the space of just 5 trading days.
If you have a currency requirement in the imminent future it may be wise to contact your account broker here at Foreign Currency Direct to ensure you are in a position to trade swiftly and seamlessly on the best levels from any major market movements that may occur before they are quickly whittled away by investors and traders alike.
It’s set to be a busy week with pivotal economic data releases and policy decisions for the Eurozone. This morning at 10:00am we have the release of Eurozone Consumer Price Index for June. With a lacklustre inflation level currently sitting at 2017 lows of 1.3%, well below the European Central Bank’s (ECB) target of 2% we may see GBP/EUR strengthen even further if the release fails to post a significant improvement on the previous reading.
Tuesday at 10:00am we see the release of the ZEW (Centre for European Economic Research) Economic Sentiment Survey for the Eurozone as a whole alongside its engine room, Germany. The survey measures investor sentiment in the economy, a reading above zero indicates the share of optimists outweighs that of pessimists and would be seen as positive sign for the Eurozone.
Thursday at 12:45pm we see the latest ECB interest rate decision released alongside its deposit rate counterpart at the next ECB meeting in Frankfurt. The market will be watching closely to determine the tone of Mario Draghi’s monetary policy statement and subsequent press conference to understand when or if we could see a reduction in the heavy fiscal stimulus package currently in place.
Thank you for reading my Euro currency report, if you have any questions about Euro exchange rates I would be more than happy to discuss them – you can contact me with any queries on 01494 725 353.
Amazing Customer service. Great spot rates & reliable transfers
Excellent service and very efficient and easy process.
I have used Foreign Currency Direct for many years and always helpful, polite and good rates according to the market. Easy transactions and seamless service