How will the new calendar month affect buying Euro rates (Joshua Privett)

Buying Euro rates are about to enter another tumultuous period with the new month and the accompanying fresh look at all global economies set to cause severe movements on exchange rates.

The first two weeks of every month are where performance data for the Eurozone is released for all major economies for markets to trade on, with the value of that particular currency affected by the positive or negative nature of the news.

The first two weeks of August saw a terrible fall on GBP/EUR by a total of 6 cents due to the negative nature of UK data which was tallied from events during July.

The results, particularly in terms of business confidence figures, were dire enough to inspire an interest rate cut in the UK as well as a revisit to emergency financial stimulus through quantitative easing.

One of the main reasons that the Pound managed to improve its state of affairs was that this tirade of concerning economic information did finally abate. The final two weeks of the month were quite quiet, and with the announced delays in leaving the EU, the cheap Pound became an attractive opportunity. With its increase in demand its value rocketed as well. The 6 cent losses were recovered by 3 cents.

Moving forward, GBP/EUR exchange rates are expected to enter into a similar pattern, with manufacturing data for the UK being the major data release this morning which has continued to be an under-performing figure.

I strongly recommend that anyone with a Euro buying requirement should contact me on jjp@currencies.co.uk to discuss a strategy for your transfer in order to maximise your currency return. I have never had an issue beating the rates of exchange offered elsewhere, and the current buying levels can be fixed in place to avoid the pitfalls for buying Euro rates which September is expected to bring.

If you are selling Euros you can also fill out the form below and I will be in contact to discuss your options.

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