Staying within what seems to be its natural trading range, GBP EUR opened up comfortably within the 1.26 range. The Euro weakened after lunch yesterday following a brief stint within the 1.25 range. Essentially the Eurozone Central Bank had made nearly €1 Trillion available for banks to lend cheaply to their customers, but was not taken advantage of. This lead to the ECB announcing that full blown Quantitative Easing (QE) was a definite for 2015, leading to the Euro losing roughly the cent it had gained.
Looking forwards there is a lot of EUR GBP data out next week, primarily at the beginning of the week…
UK Inflation (CPI) 09:30 Tuesday, German economic sentiment 10:00 Tuesday, Bank of England Governor Mark Carneys speech at 10:30 (also Tuesday) and the minutes of the Bank of England’s most recent interest rate decision (Wednesday midday).
If you do have a currency exchange requirement that you’d like to get sorted before Christmas, please feel free to call me directly to the trading floor on 01494 787 478. I’m also contactable direct via email [email protected]
2015 looks to have a lot of volatility from week one (UK Election speculation, Eurozone QE) – make sure you have eliminated as much risk as possible by using contract options available to you from an experienced currency broker.