Will NIESR GDP Boost The Pound Versus The Euro Today? (Colm Gilhooly)

Today we have UK Industrial and Manufacturing Production figures released at 9.30 which will give an indication of how the UK economy is performing and therefore influence sterling euro exchange rates.  However the big news of the day is likely to be the unofficial GDP figures released by the NIESR (National Institute of Economic and Social Research) which is a very well respected think tank who’s figures often accurately forecast how official UK figures will actually appear.

If the data is strong we could see sterling euro exchange rates go up substantially.  However as always with data forecasts, the outcome and the effect on the markets will always be a bit of a gamble.  In my view the Euro will come under more pressure over time, so if you are selling euro it may be worth moving soon to take advantage of the recent strength following the ECB decision.

If you need to make a currency transfer, and want to get the best exchange rate, then feel free to email Colm at cmg@currencies.co.uk and I would be happy to help.