So far we have seen a fairly quiet week on the markets for the Euro, with no huge surprises in terms of economic data and a fairly stable Sterling exchange rate. The largest gains we have seen have been against the perceived ‘riskier’ currencies such as the Australian Dollar, New Zealand Dollar and South African Rand where we are currently seeing some of the best prices to buy these currencies since the turn of the year.
For those with an interest in Euros, we have head of the European Central Bank Mario Draghi speaking later this afternoon, investors and speculators generally tend to hang off of his every word as they look for hints as to what his future plans are for changes to fiscal policies.
To round off the week we have what can be one of the most volatile releases of the month for all major currencies, in the form of Non-Farm Payroll data from the U.S.
Non-Farm Payroll data shows the change in the number of people in Non-Agricultural employment in the States and can impact all major currencies as predictions can be quite widely out and this then impacts global attitude to risk.
The reason this data only covers Non-agricultural employment is due to that sector being seasonal so by remove this part it makes it a fair reading all year round.
Finally, lets not forget we have the final round of the French elections this weekend, so although no huge surprises are expected and it appears that Marcon will win comfortably, we must not forget that we had a number of unexpected results last year seeing the leave campaign win the referendum, Trump becoming U.S president and Leicester City winning the Premier league so don’t rule out a large market movement for the Euro come Monday morning.
If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.
A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Euros. You can email me (Daniel Wright) on firstname.lastname@example.org and I will endeavour to get back to you as soon as I can.