The pound has made further in roads against the euro today off the back of positive unemployment numbers. The Office for National Statistics reported today that unemployment has fallen to to 4.8% which is a 11 year low!
Tomorrow the UK are set to release their latest Retail Sales numbers and a sharp rise is expected. Monthly figures are set to rise by 0.4?% and yearly by over 1%. If this is the case I expect the GBPEUR exchange could push through the 1.17 barrier.
Later in the afternoon the Eurozone are set to release their latest Consumer Price Index numbers. Inflation has been a worry for the Eurozone therefore this data release could sway the ECBs future monetary policy decision. If inflation does not continue to rise the the quantitative easing program could be extended which could cause the euro to devalue.
Even with the future not looking bright for the euro, it’s hard to see how GBPEUR will continue to rise much further as Brexit negotiations in the upcoming months will continue to devalue the pound. Euro buyers before March should seriously consider purchasing upfront before Theresa May invokes Article50.
If you are needing to buy or sell euros in the upcoming weeks or months and are looking for a currency provider who can keep you up to date with exchange rate movement whilst being able to offer excellent exchange rates, feel free to email me Dayle Littlejohn firstname.lastname@example.org with the currency pair you are trading, the reason for your transfer and the timescales you are working to and I will respond with my forecast.
The type of clients I deal with on a day to day basis are high net individuals, property buyers/ sellers and business owners. In addition if you are already using a brokerage feel free to email me and we can compare exchange rates to make sure you are receiving the best rates possible email@example.com.