Pound Sterling Forecast, what we can expect for the pound?
Getting the best pound to euro rate is about being prepared and tracking key economic data and information.
“Hope”, is not usually a good strategy. Relying purely on “luck” and hoping that the market will magically go your way can often lead to disappointment.
Just because you cannot totally predict the direction on rates, doesn’t mean you should just give up and accept your fate.
To help my clients get the best rates, I take the time to fully understand:
– Their timescales. How long do you have?
– Their attitude to risk. What type of volatility are you prepared to accept?
– What are your goals? Do you have a target rate or budget, how realistic is it?
It is only be being honest about the answers to the above, and analysing the latest market intelligence, you can truly devise a strategy.
What events will move my rates ahead on pound sterling rates?
Tomorrow sees the latest Eurozone Interest Rate decision, with the decision at 13.15 GMT and the Press Conference due after 13.45.
These events can see volatility in the run up to, and after the event, making being in touch with your Lumon specialist vital.
Any clients looking to consider a currency payment in the future should be aware of this potentially volatile event today, with financial markets mixed over opinions as to what we might see.
We can often see currency market movement when there is uncertainty as to which direction economic policy or data will take, and markets readjust to the fresh news.
The ECB (European Central Bank) have a hard decision between keeping interest rates on hold to encourage economic growth, versus raising interest rates to combat high inflation.
The market indications are the ECB is quite evenly split at present, opening the door to some movement on Euro levels today.
Whilst principally affecting the Euro, there is much scope for volatility influencing the pound, the US dollar and other currencies.
Any currency connected to the Euro including the Australian dollar, New Zealand dollar and Canadian dollar could be in for a ride.
What else is happening that might affect the pound this month?
The pound trading quite close to the one-year highs on GBPEUR and we have a Bank of England and US Federal Reserve Interest Rate decision next week
With the ECB due tomorrow, a conversation with a specialist could prove beneficial, to navigate the news and ensure you are making informed decisions regarding your currency transfers.
If you need to buy or sell the pound against the Euro, US dollar, Canadian dollar, Aussie dollar, Kiwi dollar or any other currency, please get in touch.
“The best way to predict the future, is to create it”
