What will happen to the Pound Euro rate next week and the impacts of upcoming UK economic data (Tom Holian)

The Pound could be in for an interesting week ahead after remaining in a fairly tight range during the course of this week against the Euro. There are a number of economic data releases published both here and the Eurozone that are likely to impact upon GBPEUR exchange rates.

UK Retail Sales published on Friday morning showed a fall compared to the expected figures but they did little to affect the Pound which in my opinion means that investors may be looking for further evidence on how the economy is performing before making their move.

On Tuesday the latest UK Inflation Report Hearings are due out and as inflation continues to remain much higher than the target level I think this could have quite an effect on the Pound as the rate of inflation is likely to influence what happens with interest rates during the course of this year.

Indeed, the Bank of England has already suggested that an interest rate hike may be coming sooner than some may expect especially if inflation continues to remain high as that is one of the main responsibilities for the central bank when deciding what to do with monetary policy.

On Wednesday the UK releases its latest Unemployment figures and although these have been very impressive in recent months one of the concerns for the economy is Average Earnings which are still lagging behind inflation rates so this could make for quite an interesting data release if you’re considering making a currency transfer involving the Pound.

On Thursday UK GDP data is due to come out and this will be the first estimate for the final quarter of 2017 and I think this could the biggest factor in deciding what will happen to the Pound vs the Euro next week.

If you would like to free quote when buying or selling Euros and would like to save money on exchange rates compared to using your own bank then contact me directly. Having worked in the foreign exchange industry for one of the UK’s leading currency brokers since 2003 I am confident of being able to save you money and help you with the timing of your transfer.

Feel free to email me directly with a brief description of your requirement and I look forward to hearing from you.

Tom Holian [email protected]