The Euro has fought back against the pound recently after UK Manufacturing PMI the other day came out lower than expected. UK Construction PMI did help reverse this slightly yesterday but the Service data this morning is likely to be the most important release as it forms the biggest part of the UK economy. A strong showing here could see the pound rebound, but if it under performs then it may be a great opportunity for Euro sellers.
A short while later we see EU retail figures published so will give some movement on GBP EUR exchange rates depending on the outcome. However the big data this week is still going to be the ECB rate decision and press conference on Thursday. If Draghi can calm market concerns and suggest further ECB intervention is unlikely then the Euro may claw back more ground versus the pound in the short term.
However given the problems of Banco Espirito Santos and others recently, and the very low inflation data for Europe, I think he may stick with the line that they will intervene if they deem it necessary, limiting any gains for the Euro.
For EUR USD transfers then the other thing to keep an eye on today is US Non Manufacturing PMI to see how Dollar Euro rates move but the Dollar does seem to be finally making the ground that we predicted- although it has been a very long road so far!
If you need to make a currency transfer then feel free to get in touch to see what exchange rates we can offer. Simply email Colm at email@example.com with an overview of what you need and I would be happy to explain how our services work.