GBPEUR exchange rates had a difficult end to the week with rates falling into the 1.37 territory after briefly tipping past 1.40 on Tuesday’s trading session.
With the UK general election now becoming a distant memory the markets turn towards data announcements and next week there are quite a few which are likely to have an impact on Sterling Euro exchange rates.
Tuesday is perhaps the biggest potential mover for the Pound vs Euro with the release of both UK and Eurozone inflation data.
The expectations are for the UK to reveal falling inflation whilst in the continent the expectation is for inflation to start increasing again.
Indeed, if Eurozone inflation shows a rise this is likely to give the Euro strength as it could be argued that the recent addition of QE has started to work.
Inflation is also a key indicator as to how an economy is performing and will have an impact on economic growth.
Therefore, if you have a requirement to sell Euros into Sterling it may be worth taking advantage of exchange rates on Tuesday afternoon.
Also next week is the release of the Bank of England minutes and I think we could see some more support for an interest rate hike for a couple of members.
Bank of England governor Mark Carney recently suggested that interest rates can go up but not until 2016. However, the MPC is made up of 9 voters so Wednesday could see Sterling gaining against the Euro if there is an increased appetite for a UK rate hike.
If you have a currency transfer to make and want to save money on exchange rates compered to using your own bank then contact me directly for a free quote. Tom Holian firstname.lastname@example.org