GBP/EUR rates will be dependant on U.K economic data and European politics this week

So far the week has been fairly flat for GBP/EUR exchange rates once, but there is plenty of economic data due out over the next few days that should create some volatility.

Tomorrow we have the release of U.K inflation figures  along with a flurry of data from the Eurozone as the morning progresses. Inflation in the U.K is expected to have dropped off a little, from 2.5% to 2.3% and this may result in a drop in the value of Sterling against the Euro if the figure comes out in line with expectations, as this may lead to a lower chance of an interest rate hike.

Thursday brings the release of U.K Retail Sales figures, the markets are expecting a slight increase which should really happen as the previous retail sales figures were poor due to adverse weather conditions earlier in the year. The release is due out at 09:30am so for those of you with a currency exchange to carry out in the coming weeks it would be prudent to keep an eye on exchange rates shortly after this comes out.

Friday brings the release of U.K GDP (Growth figures) and expectations are also for a slight improvement which could give the Pound a lift as we head towards the end of the trading week. Poor growth figures were another reason that the Bank of England decided to hold off on any interest rate hikes so a stronger figure this time around would be seen as positive news for the pound and would throw up an opportunity for those looking to buy Euros.

European politics will also be key with Brexit talks still ongoing and issues surrounding the Italian Coalition and the EU, with brexit comments being somewhat of a lottery and the Italy/EU issue more than likely leading to weakness for the Euro should problems or disagreements occur.

If you are in the position that you need to carry out a currency exchange involving buying Euros with Pounds or exchanging your Euros back into Pound then you are more than welcome to get in touch with me and I will be  happy to help you personally. The brokerage I work for has been operating for 18 years now and we pride ourselves on getting clients not only the best exchange rates on the market but also offering the very highest level of customer service too.

If you would like to discuss a specific scenario or exchange with me then feel free to email me (Daniel Wright) on djw@currencies.co.uk and I will be more than happy to get in touch personally.

 

For more news on foreign exchange rates and to request a free no-obligation quote visit www.currencies.co.uk