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Pound to Euro set for largest movements today with a quiet Dollar in the background (Joshua Privett)

Wednesday, March 1, 2017 2:23
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Pound to Euro exchange rates, after a half cent loss to begin the week, on Monday, was on a steady trend of losses throughout Monday and Tuesday, but have begun to produce a positive turn this morning.

This is because today we will get a rare glimpse into the individual make-up of the Eurozone, as performance figures for individual countries will be released in a more comprehensive report, rather than showing a collective average for the group.

The Eurozone has great performers like Germany and under-achievers such as Greece, and this disparity can sometimes be obscured when a birds-eye view is taken of the whole group. Similarly US states have under-performers yet financial markets care little – since there isn’t the same risk of a State losing EU membership with poor economic performance.

Yet today a more detailed picture will emerge with Spanish, Italian, French, German, Greek and Portuguese performance in increasingly important sectors currency market participants review on a daily basis, such as growth, inflation, manufacturing and employment, which will trickle into the traders news feed throughout the morning until 1pm.

The expectation is for a more apprehensive atmosphere towards the Euro, and with the upcoming Dutch election set to kick off a contentious year for the Eurozone, Euro sellers may be wise to take advantage of the slight improvements against your favour since last Friday. Currently anyone selling €200,000 is getting over £2000 during this short period, and the sensible option would be to lock this profit from the market in if you can.

You can speak with me directly through concerning your available options to pre-book your currency ahead of the release of any funds to avoid gambling on a market seeming to present a bit more risk.

Beyond this the French elections have already shown a slightly larger crack in the door for challenges to EU membership from anti-EU parties, but with so much happening in March on both sides of the Channel a shorter term view for your transfer will be wise, it is best to stay in continued contact with a dedicated broker to keep you up to date on any updated forecasts in order to make an informed decision on your transfer.

Conversely the US Dollar and Australian Dollar have opened the day fairly quietly, after an anti-climax with Trump’s first speech to congress delivered last night.

Am an in a well-placed position to do just that. If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well worth your time getting in contact with me on in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

You can also call in and ask reception to speak with Joshua on 01494 787 478.


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