Brexit polls give best Euro rates for a month

25 April, 2016

Matthew Boyle

Last week was a particularly volatile week amidst news that the first UK polls are leaning towards staying in Europe and as Mario Draghi released the monthly ECB statement. UK polls now showing that 52% want to stay in Europe saw GBP gain against EUR as sentiment, at least in the short-term, has shifted in the pounds favour seeing GBP>EUR rates now at a month high. There is certainly a long way to go until the June 23rd vote, many more polls and data which will cause movements in the coming weeks. As such it is certainly worth considering taking advantage though of these month highs if you require Euros in the near future, as there is still a large part of the market that feel rates will likely suffer as we near the date.

GBP>USD remained trading within a relatively tight range throughout the week, as did USD>EUR which was up and down within a 1% range. So for the time being it is GBP/EUR rates that remain the most volatile and as such the one that offers the largest amount of risk. Speak to your Currency Index broker today for some friendly guidance if you have any concerns over your upcoming requirements.

This week is a busy one, with several inflation releases and monetary policy statements released. Data to watch for; Wednesdays UK GDP figure, US interest rate decision & statement and on Friday Euro Inflation data. No doubt it will be a volatile week, so keep in touch should you need any assistance.

08.00 EUR German IFO data
14.00 USD New house sales data

12.40 CAD BoC Governor Poloz speech
13.45 USD Markit Services data
14.00 USD Consumer confidence
22.45 NZD Imports and Trade balance

01.30 AUD RBA inflation data
08.30 GBP GDP data
18.00 USD Fed Interest rate decision & Monetary Policy statement
21.00 NZD RBNZ Interest rate decision & Monetary Policy statement

03.00 JPY BoJ Interest rate decision & Monetary Policy statement
09.00 EUR Industrial & Consumer confidence & Economic and services sentiment
12.30 USD GDP data

09.00 EUR Unemployment & Inflation data
12.30 USD Consumption & Personal spending data