What can we expect on the pound euro exchange rate this week?

GBP EUR Starts the Week with 1.1800 Test

Morning readers,

And if in the UK how good to see some sunshine!

In summary this week on GBPEUR I think we may see some downward pressure again on sterling but Thursday is the key date which will determine where rates go. Regarding sterling growth of 0.3% is hardly anything to get too excited about! Ineed the economy was flat for the last 6 months (with -0.3% growth in Q4 2012).

This week look out for PMI surveys for the UK, Europe and US. PMI is Purchasing Managers Index and the data is released on the 1st, 2nd and 3rd working day of every month. It is snapshot of economic activity in the previous month. The data will therefore be more up to date than the recent GDP data and usually affects short term movements on rates.

Thursday too is the ECB (European Central Bank) Interest Rate decision. There is a possibility the ECB will cut the Euro base interest rate which would weaken the currency, hence making it more attractive to buy.

Are you considering anymore transactions for which I can keep an eye on the market? Registerin an interest with me Jonathan on [email protected]

I work as a specialist currency broker and our personal proactive service is designed to get our clients the most from the market.

Have a good week!

Jonathan