The Euro has come under a little bit of pressure after weaker German trade data released yesterday has highlighted that the country is not immune to shocks in the system. Both imports and exports for February were down and concerns are being raised over the ongoing trade discussions between the US and China. What is interesting is that there is a growing realisation that Germany is actually quite heavily exposed to trade tariffs imposed in the US and China. The problem for Germany is that the biggest exporter of cars from the US is a German company. Any further escalation of tensions could see the Euro come under a new wave of pressure.
For those clients looking to buy Euros with pounds there is a good opportunity at present. Brexit for the moment is being talked about less and less and in my view the outlook is looking considerably brighter than it has been and this is being reflected in the higher price of sterling. Rates for GBP EUR are hovering around the 1.15 levels although these higher rates have not lasted for sustained periods since the beginning of the year. Clients may wish to act sooner and take the risk out of the volatile currency markets. A speech from Bank of England policy maker Andy Haldane will be made later this morning and could offer some more clues as to when the central bank will raise interest rates and could prove positive for the pound.
European data is light today with no economic releases although there should be some interest in a speech from ECB President Mario Draghi tomorrow followed by the ECB Monetary Policy Meeting accounts on Thursday which will provide a general snapshot of the economic performance in the European Union economy.
For more information on Euro exchange rates and assistance in making a transfer either buying or selling Euros then please get in touch with me at firstname.lastname@example.org