Euro exchange rates poised for ECB interest rate decision on Thursday

A quiet start to the week so far for Euro exchange rates, dropping ever so slightly against both Sterling and the Dollar. We have had very little market data out today, which is generally the case as you head towards the end of a calendar month, the next few days look equally quiet too as all eyes turn towards Thursday and the European Central Bank interest rate decision and press conference.

The interest rate decision is due out at 12:45pm and although no major changes are expected from this we should always be wary of any surprises that head of the European Central Bank Mario Draghi may throw up.

In my opinion I feel we will be more likely to see market volatility during the ECB press conference which happens slightly later at 13:30pm. During the conference Draghi will be questioned on his plans for future economic policy and any hints to future quantitative Easing or interest rate changes may lead to a volatile afternoon for Euro exchange rates against all major currencies.

We have seen major swings over the years during this press conference so if you are in the position that you need to carry out a large currency exchange involving buying or selling Euros then it is key that you have an eye on the markets on Thursday afternoon.

If you are in this position yet you do not have the time to watch currency pairings all day then we can help you. I personally deal with clients that exchange Euros into Pounds, Dollars and all major currencies from bank account to bank account all day every day, and we have a variety of different tolls that can help you maximise your rate of exchange.

If you would like my assistance with any currency exchange in the coming  days, weeks or months ahead then feel free to email me (Daniel Wright) directly on djw@currencies.co.uk and I will be more than happy to help you personally.