Sterling Euro rates continue to fall for the seventh day in a row. German jobs data this morning shows unemployment levels are better than expected which has seen the Euro strengthen by 0.4% since the start of the trading session. Even though UK GDP came out positive at 0.6% the figure was exactly as expected so the currency markets didn’t necessarily see this as good news.
Later this morning there is a lot of inflation data due out which is likely to see Euro strength continue. Tomorrow both the Bank of England and European Central Bank announce their interest rate decision. Both are expected to remain the same but keep a close eye/ear on the rhetoric from Mario Draghi at 130pm tomorrow following the decision.
Tonight the US Federal Reserve will make an announcement about their current QE programme. If they decide to slow it down or stop it we could see Dollar strength which often denotes Euro weakness.
For more information about how to save money when buying or selling Euros feel free to contact me directly Tom Holian [email protected]