Euro Rate Dependant On GDP Today

GBP EUR Exchange Rate: Weekly Review July 16  

Current Euro exchange rates will be dependant on GDP figures released today expected to come in at 0.3%.  However if these figures are revised down it may discourage the ECB from raising interest rates in the short term which may mean Thursday’s decision to hike becomes a lot less certain.

As posted yesterday, EUR USD rates did break the year high after the Fed Minutes suggested interest rates in the US will remain low for some time, allowing GBP USD rates to climb, and with rates in Europe anticipated to rise, making the Euro a lot more attractive than the greenback.

In the UK Industrial and Manufacturing Production figures will be in the spotlight following yesterdays strong showing for the services sector- expect sterling exchange rate volatility today.