Euro strengthens as ECB board member drops hint

We’ve seen the Euro strengthen during today’s trading session, as a member of the European Central Bank has dropped a hint regarding next week’s June ECB meeting.

The ECB’s Peter Praet has given us a strong hint during a speech in Berlin that next weeks meeting could see the ECB signal the end of their assett-purchasing programme. Some economists are expecting to see September as the cut off point which is actually an shorter time frame than initially expected. Personally, I’m expecting to see the Euro strengthen further if this announcement is made, especially after seeing the Euro react positively in the wake of Praet’s comments today in Berlin.

After some weak data releases recently and the Euro’s poor performance, the bullish comments today are a welcome change for Euro sellers as the Euro has been under pressure for a while now.

One downside for the Euro is the current political situation in Italy, and it could determine whether the ECB decides to amend their programme. The government that’s been formed through the coalition of Lega and 5 star movement is considered Eurosceptic and thrifty, and this has concerned the markets may cause the ECB to delay any key decisions.

If you would like to be updated in the event of a major move for the markets, do feel free to register your interest with me. Next week’s meeting will take place on Thursday at lunchtime, so our readers have plenty of time to get in touch and plan around this event.

If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.

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