Euro forecast: Bank of England to take centre stage

If you’re looking for a Euro forecast, it may help you to know that financial markets have been gearing up for a busy Thursday, owing to the large amount of data set to be released by the UK’s central bank, the Bank of England (BoE).

No interest rate changes are expected to be made. However, the shear volume of data set to be released, along with the market commentary afterwards, has the potential to move markets. This is if any data surprises are released, or if the tone is more bullish or bearish than expected.

At midday on Thursday, the BoE’s interest rate decision will be released, with expectations for all voting members to vote to keep rates on hold. At the same time, the BoE’s Asset Purchase Facility will be released, and the Governor of the Bank of England, Mark Carney, will speak shortly after. Any forward guidance could result in market movement for the Pound, so feel free to get in touch with us if you wish to plan around this release.

When to buy Euros?

The GBP/EUR rate has been climbing slightly in the lead up to Thursday. This is apparently due to ‘behind closed doors’ talks between the Conservative and Labour leaders, regarding the Brexit withdrawal agreement. Those with a currency requirement involving the pair should be aware of this, as I would imagine that the agreed terms could result in a boost to the Pound’s value.

If you have a large currency exchange to carry out in the coming days, weeks or months, then you are more than welcome to speak with me directly. I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you buy your currency.

A small improvement in a rate of exchange can make a huge difference, so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on jxw@currencies.co.uk and I will get back to you as soon as I can.