GBPEUR rates continued to fall yesterday as rumours spread that the Europeans could lower their interest rate further in an effort to boost growth. As regular readers will know, Europe’s banking crisis seems to be
getting worse, not better, even after 4 years since the crash and following economical failure started. Bond markets, which are a barometer of confidence in a countries outlook, have also been climbing in both Spain and Italy. It was down to these two factors that rates pushed to a fresh high in yesterday’s trading.
Today we see the release of CPI (consumer Price index) for the UK along with Retail figures. Both of which are expected to fall which as a result could give euro sellers an opportunity to take a better price as rates
continue to get worse for them. These come out within the hour so make sure you are in a position to take advantage if you are in that situation – Contact us today or email me at [email protected]
In other news, global growth again came under pressure recently as the World bank lowered expectations of growth globally. This was backed up by data coming out of the US saying their Retail figures dropped for
3 consecutive month, two thirds of US GDP is made up from household spending, there are yet more concerns of a recovery.
In summary if I was selling euros I would jump ship, if I was buying this week I would hold. Keep an eye out for the Bank of England minutes tomorrow along with a key meeting in Europe on Thursday.
For a more focussed strategy for your situation feel free to contact us and we can happily give you some pointers on when to potentially complete your exchange.
Call us on 01494 787 478 to talk this through if it is of interest.