German elections aim to allow Euro to steady the ground against GBP

23 September, 2013

Matthew Boyle

Last week saw the Pound make steady gains across the board particularly against the Euro and the Dollar – rising at its peak to a 5 month high against the single currency and a 7 month high against the Dollar- news will be welcomed buy many of you looking to buy currency. Poor retail sales on Friday saw the gains for the Pound made against the Euro through the week eroded by almost ¾ of a cent and with Merkels win in the German Election we may see the Euro gain back some of its previous lost ground. Any of you looking toBUY Eurosmay well like to speak to your broker about forward contracts to avoid any potential negative movements on what is a busy week later on for data. In recent months UK GDP figures have been positive so we may perhaps see the Pound rally further on Thursday however with Eurozone data out on Friday it may struggle against the recently buoyant Euro. Monday EUR 13.00 ECB President Draghis Speech Tuesday USD 14.00 Consumer Confidence Wednesday USD 12.30 Durable Goods (Aug) Thursday GBP 08.30 Q2 GDP (MoM and YoY) Friday EUR 09.00 ECB President Draghis Speech EUR 12.00 Harmonized Index of Consumer Price (YoY) September EUR 12.00 Consumer Price Index (YoY) September If you have any upcoming currency transfers to make, particularly those involving the Euro or Dollar speak to your currency index broker today who can help you stay well informed and well ahead of the markets.