GBP/EUR
Range of the week: 1.2567 – 1.2666
Variance of the week on £10k €99
Data from Europe this week so far falling in line with expectations which is further consolidating the range against GBP of 1.2585 – 1.27 that we have seen for the past ten days.
EZ PMI Manufacturing came in at 45.1 for August, previous of 45.3. Still shows an expected decline in conditions predicted by manufacturers in the euro zone. Euro zone PPI came in at 1.8pc as previous, while retail sales showed further decline down to -1.7pc from a previous of - 0.9pc.
Main event for the week again the central bank meeting tomorrow. The European Central Bank are expected to do something tomorrow as ECB President Mario Draghi tries to back up his pledge to do “whatever it takes” to save the euro. Predictions of an interest rate cut to 0.5pc are increasing, but more importantly the market is keen to hear further details of a new bond-buying plan which it is hoped will ease the euro zone crisis.
As always do not hesitate to contact us if you have any questions transferring your Sterling (or other currency) to Euros, or vice versa.
Range of the week: 1.2567 – 1.2666
Variance of the week on £10k €99
Data from Europe this week so far falling in line with expectations which is further consolidating the range against GBP of 1.2585 – 1.27 that we have seen for the past ten days.
EZ PMI Manufacturing came in at 45.1 for August, previous of 45.3. Still shows an expected decline in conditions predicted by manufacturers in the euro zone. Euro zone PPI came in at 1.8pc as previous, while retail sales showed further decline down to -1.7pc from a previous of - 0.9pc.
Main event for the week again the central bank meeting tomorrow. The European Central Bank are expected to do something tomorrow as ECB President Mario Draghi tries to back up his pledge to do “whatever it takes” to save the euro. Predictions of an interest rate cut to 0.5pc are increasing, but more importantly the market is keen to hear further details of a new bond-buying plan which it is hoped will ease the euro zone crisis.
As always do not hesitate to contact us if you have any questions transferring your Sterling (or other currency) to Euros, or vice versa.
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