This Euro report will address the factors that are likely to affect exchange rates in the short term if you are buying abroad or making a currency transfer. The table below shows the difference in Euros you would have achieved when buying £200,000 at the high and low points of the past week.
|Currency Pair||% Change||Difference on £200,000|
German Chancellor Angela Merkel fought hard to bring the G20 meetings to her home town of Hamburg and use the success as an election campaign ad. Unfortunately, the riots outside the event two streets down the road have raised safety concerns and residents are blaming her and the council for failing to protect the public. 20,000 police officers were deployed to control “a few hundred protesters” however it resulted in several homes, shops and pensioners cars being set on fire.
The German Election is now only a couple of months away with voters going to the polls in September. Merkel is still considered to be favourite to win the election, however any uncertainty could weaken the Euro. If you’re looking to sell Euros in the next 6 months it may be worth locking in a rate before any volatility may start to strike.
French President Emmanuel Macron has come under scrutiny over a lavish Soiree to Las Vegas to visit a tech show during his time as Economy Minister under Francois Hollande. The head of the company who orchestrated the event is now Macron’s Labour Minister and she is thought to have not followed a tender process. The company Havas who delivered the event, has several ties to Macron’s colleagues and advisors. One of Macron’s senior advisors currently also worked for Havas.
Macron and Labour Minister Muriel Penicuad are on the verge of introducing a new bill to make it easier to hire and fire workers in France. Whilst Macron is also trying to clean up French Politics and this latest story couldn’t have come at a much worse time.
On Friday if you had exchanged your Euros to Sterling you would have made nearly £2000 more when compared to completing the trade on Thursday. Timing of a transfer can make an enormous difference when moving funds so getting in contact with your broker could make sure you’re trading at the right time.
For more information on how future data releases could affect your Euro requirement, call our trading floor on 01494 725 353 or email me here.
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