Euro exchange rates with the Greenback currently sit at the lowest levels in almost 8 months, primarily influenced by the on-going trade wars with China and the current political frictions across Europe.The Euro report below looks into the ways that the escelating trade war between the US and Europe seems to be stifling Euro growth. The table below shows the range of exchange rates between GBP and EUR during the past month, as an indication of the return you could have received when selling £200,000.00 during the high and low points.

Currency Pair% ChangeDifference on £200,000

US president Donald Trump’s recent suggestions that ‘Europe is as bad as China’ when it comes to trade, has meant that steel and aluminium tariffs have expanded to include the EU, Canada and Mexico, which has consequently led to a retaliation from the Eurozone to impose tariffs on products from motorcycles to bourbon and blue jeans. 

The EU and the US appear to be edging closer towards a full-scale trade war with potentially damaging consequences for the global economy and consequent volatility for EUR/USD exchange rates.

Euro Holds Against the US Dollar

Markit data releases to cause Euro movement?

It could be a busy start to the trading day for the EUR, following the Markit data releases from several countries within the bloc and the Eurozone as a whole. From 8:00am, the Markit Services data for June will be released and if the results are to go as expected, the data is to show an expansion across the board for Germany, France, Spain and Italy which could see EUR strength going into the afternoon.

Another important announcement that could affect EUR sentiment, could be the content and delivery of a speech delivered by European Central Bank member Mersch on Thursday, which will cover various monetary and fiscal policy concerns associated with countries within the EU.  

Comments made by ECB policy makers regularly influence Euro movement, so those considering transfers in the short term, could benefit by keeping in touch with their account manager in order to take advantage of any favourable movements in the market.

For more information on how future data releases could affect your currency requirement, call our trading floor on 01494 725 353 or email me here.

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Exchange rates on this page are interbank rates and indicate where the market is trading to show the performance of a currency pair. They are not indicative of the rates which we offer. The information on this web site is provided free of charge for information purposes only. It does not constitute advice to any person on any matter. Foreign Currency Direct plc. ("FCD") makes every reasonable effort to ensure that this information is accurate and complete but assumes no responsibility for and gives no warranty with regard to the same.