Sterling to Euro exchange rates have remained favourable of late presenting a 20 month high to buy euros. This week we have a whole host of data which anyone with an interest buying or selling euros should take note of. Exchange rate movements of 1 or 2 cents in a day are not uncommon and having systems in place to capitalise are key to maximising any currency exchange.
Thursday looks to be a possible market mover with the Bank of England Governor due to speak. Lately there has been much speculation that the BoE will look to cool the housing market. It has been said a bubble is forming in the UK property market and Mark Carney could pop it and the value of sterling in just a few sentences. You see the housing market is a key driver of Inflation and economic growth as people have more money in the pockets and spend more as their house price rises. The prospect of a UK interest rate hike this side of Christmas has helped sterling to soar lately but could the pound come unstuck later this week? Personally I would brace yourself for a rough ride and wouldn’t rule out the prospect of sterling suffering.
Friday the latest GDP (Gross Domestic Product) data is released which will is essentially old news for it covers Q1 but will still attract interest. Sterling won’t necessarily drop on Thursday but anyone buying or selling the pound should in my opinion take note of this potentially very important event. Mark Carney always seems to move the market one way or another, don’t say we didn’t warn you.
Should you wish to get some information on the latest forecast and moving money internationally at the best exchange rates please contact me directly on [email protected]