One election down two to go

Yesterday was the first of three key General Elections within Europe this year and Prime Minister Mark Rutte overcome the challenge from Anti EU and far right candidate Geert Wilder. EU leaders could breathe a sigh of relief as this was the first election since the UK decided to vote out of the EU. EU leaders have been quick to comment to improve confidence, German Chancellor Angela Merkel stated “The Netherlands are our partners, friends and neighbours. Therefore I was happy that a high turnout led to a very pro-European result.

All eyes now turn to the second election of the year, which is the French election in April and May. Macron who is leading in the polls at present also commented on the Netherlands result implying that far-right parties within Europe will not have it all their way, in a bid to try and entice more French voters away from far right candidate Marine Le Pen.

I’m not surprised Geert Wilder fell short however the French election I believe will be a lot closer. As Macron is from a banking background he could find it difficult to pull in the votes which paves a way for anti-EU Marine Le Pen as Francois Fillon appears to be out of the contest due to his scandal that he has been paying family members for jobs they haven’t done. For Euro sellers this election could cause rates to shift against you therefore if you have not already taken advantage of the fantastic rates on offer you may want to think about targeting the triggering of Article 50 and not gamble any further as we draw closer to another election.

Trade Balance to finish the week

It’s a quiet finish to the week for economic data. Trade balance released at 10 am is the only data release to keep your eyes on. Looking forward to next week I wouldn’t be surprised to see the triggering of Article 50 dictate GBP/EUR exchange rates and I expect to see purchasing Euros becoming more expensive, again a potential window for Euro sellers.

Speak with a member of our team on 01494 725 353 if you plan to buy or sell Euros in the coming weeks, as the impact of Article 50 on GBP/EUR could significantly affect your requirement.

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