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GBP EUR Looks to Employment Figures for Support

Whether you are buying or selling Euros it is important to get the right assistance when making your decision. Through the use of  a specialist foreign exchange broker you can save thousands on your money transfer when compared to the high street banks, take a look at our main website www.currencies.co.uk to find out more.

What data to watch out for the week?

Starting tomorrow we have both the EU and UK CPI (Consumer Price Index) data released at 09:00 and 09:30 respectively – both reflect inflation levels in both Europe and the UK and will give some influence to each central bank with regards to monetary policy. From the UK’s point of view inflation is expected to show a small increase, however the data from Spain and Italy will be more closely scrutinised. Should inflation levels be falling this may give future scope for the European Central Bank to cut rates (as some expect) in the months to come and this may keep pressure on the Euro.

On Wednesday we have UK unemployment figures at 09:30 and the Bank of England inflation report at 10:30. Anyone with an interest in the pound should keep a very close eye on this as again this will give clues for future monetary policy.

On Thursday look out for UK retail sales at 09:30 and EU GDP figures at 10:00. GDP expected to show a positive 0.7% figure. Any deviation from this and expect movement for the Euro.

The aim of this website is to achieve the best market price we can for our clients and this means keeping in regular contact with updates on current market trends. By helping clients time their exchange it can make a huge difference on the final cost of the currency purchase, should you have an upcoming currency exchange whether this be a property completion, business transaction, inheritance to name just a few, then please contact us on 01497 787 478 or email Mike at [email protected] to get the best deal on your foreign exchange.