The Euro remains very strong against all currencies although this week it was the turn of other currencies to take the spotlight and as expected the Euro lost ground. The pound is looking much better this week but I don’t think this will last against the Euro since despite some improved news, the overall market conditions do in my opinion continue to favour the Euro. Both politically and economically the Euro looks likely to remain ahead of sterling, the current positive mood for the pound over the Euro will not in my view last too long!
There is not a huge amount of news passing through regarding the Euro next week, some limited news relating to Consumer Confidence and some Inflation data. This news will more than likely do little to majorly unsettle the Euro against the pound, the current positive mood for the pound against the Euro does not look likely to be undone quickly but I don’t foresee any worse rates for Euro sellers either. Next week on the economic calendar the main news is UK GDP (Gross Domestic Product) data. We also have some important US data with US GDP being released too. A range of 1.13-1.15 seems likely to hold for now although the end of the week may see some volatility.
The Euro has been boosted in recent weeks by the Angela Merkel being reinstalled as German Chancellor, the worries in Italy don’t seem to be weakening the Euro too much. Whilst the Italian worries could be something to be alarmed about, for now there are more reasons to be positive than negative over the Euro. Next week is a shorter week because of the Easter Bank Holiday weekend which might see some extra volatility on Wednesday and Thursday as it is also the end of the first quarter of 2018. This might see month-end flows of currency creating unexpected buying and selling opportunities on the Euro.
If you have any currency transfers buying or selling the Euro and wish to get the latest trends and news we can help with some informed insight on the target rates to aim for and the best information to help maximise any transaction. Please feel free to email me Jonny on firstname.lastname@example.org to discuss further!
Thank you for reading and enjoy the weekend.