Will buying euros become more expensive in the weeks to come?

The golden question many of my clients are asking at present, is whether buying euros will become more expensive in the weeks to come? It’s a crucial week ahead for the Conservative Party. MPs have returned to work and are set to meet in the Commons tomorrow to debate the Brexit plan on the table at present.

Last month Theresa May delayed the meaningful vote in a bid to gain further guarantees from the European Union, however even though the Prime Minister has confirmed that their have been further guarantees from the European Union, I don’t believe this is going to be enough. Therefore it’s unlikely MP’s within the House of Commons are going to back Theresa May’s Brexit plan on the 15th January and I expect further declines are on the horizon for GBPEUR exchange rates. Therefore for clients buying euros short term I would buy at some point this week.

The key date for economic data this week is Friday, when the UK release their latest trade numbers alongside November’s growth numbers. The ongoing Brexit saga I expect will have continued to keep growth stagnated around 0.1% and I dont expect the trade numbers would have exceeded expectation, therefore this could be another bad day for the pound and if I were buying euros today or tomorrow would be when I traded.

If you are buying or selling euros this week, month or year and I have not covered the currency pair you are trading, I would recommend emailing me with the currency pair (EURUSD, EURGBP, EURAUD) and the reason for the transfer (company goods, property purchase) and I will response with my forecast and the options available to you drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **