Today we have a fair amount of economic data due out for the Eurozone, inclusive of Growth figures, inflation figures and some retails sales due too.
With so many different economies within the Eurozone each release will impact the market in different ways, but the main and most important data of the day will be European growth figures, which are due to be released at 11:00am GMT.
Expectations for the growth figures are for month on month levels to be sat at 0.5% growth, which would be a slight drop off but still marginally better than the release from the U.K who posted figures of 0.4% just last week.
Any alterations to the growth figures for the Eurozone this morning may lead to a volatile Euro exchange rate so ensure that you keep a keen eye on the rates as the morning progresses.
Another major factor involved is the issues in Spain at present which are seemingly getting worse by the day. The issue does not appear to be cooling down and I feel that this will have a small impact on the Euro should this escalate and get any worse.
If EUR/GBP is your currency pairing of choice then you must be aware that we have the Bank of England interest rate decision due out on Thursday at 12:00 GMT with an expectation of an interest rate hike of 0.25% from the Bank of England.
Should this happen then this should make the Pound a little stronger, should the Bank of England hold back and not make their move then Sterling may get weaker and cheaper to buy with the Euro.
If you need to carry out a large transaction involving buying or selling Euros into any major currency then it is well worth getting in contact with us directly. Not only can we generally better the exchange rates found with most brokerages but we are experts in this field too.
If you feel that I may be helpful to you then you are more than welcome to email me for a quote and for further information. You can email me (Daniel Wright) directly on email@example.com and I will be more than happy to get in touch with you personally to see how I can help.