We could be in for a very exciting week ahead for anyone looking to buy or sell Euros.
On Tuesday the House of Commons will be debating the EU withdrawal bill over two days after the challenge by the House of Lords who rejected some of the previous terms recently.
The UK government will be keen to get this agreed as the next EU summit will take place on 28th June and they will want to show both a unified and organised front.
The other important news will come on Thursday when the European Central Bank will meet to discuss their latest monetary policy and QE programme.
The QE programme will likely be at the top of the agenda and at the moment it is planned to finish in September.
However, ECB president Mario Draghi has said that they will do everything ‘necessary’ to maintain the economy.
Therefore, it could be very interesting to see what they say during the press conference. If they hint that QE may be coming to an end this could strengthen the Euro as once QE stops the next plan would be to raise interest rates in the future. However, having said this any rate hike will clearly be a long way from today.
The GBPEUR exchange rate remained in a very tight range during the course of this week and I think people are adopting a ‘wait and see’ approach with the two events covered above so I expect to see a lot of movement during the next week.
Therefore, if you have a currency transfer to make and would like to save money on exchange rates compared to using your own bank then contact me directly for a free quote and I look forward to hearing from you.
Enjoy your weekend!
Tom Holian firstname.lastname@example.org