The Euro has weakened against the pound over the last two days after it was announced that the British government is now prepared to offer more in the way of a financial settlement in the Brexit negotiations. GBP EUR has picked up very well with levels now pushing towards 1.14 for this pair.
The EU Summit on the 14th & 15th December will be the key dates to now mark in the diary as this is when the leaders of EU27 will meet and decide on whether there has been sufficient progress before Britain can moved on to the next discussion on a future trade deal. Any positive outcome to allow discussion to move forward could be very good for the pound vs the Euro and there could be some very good opportunities to buy Euros around this time. A move back above 1.15 for GBP EUR could be on the horizon under these circumstances.
For the moment the outlook is also looking positive on the EU side as well after Michel Barnier has said that he hopes to announce that Britain and the EU have to agreement on the financial settlement.
EU Consumer Price Index inflation data for is released this morning for November and could create some volatility for Euro exchange rates. The inflation numbers are particularly important at the moment considering the EU has commenced its tapering programme to reign in its massive asset purchasing scheme that is has been running for years.
EU unemployment data is also released for October and is expected to hold steady at 8.9%. Anything different here could also have an impact on the price of the Euro.
For more information on Euro exchange rates and how to make the most of these market movement when either buying or selling Euros then please get in touch with me James at email@example.com