Outlook for currency markets this week

By Luke Dyson

Following on from last week we have seen sterling make some of its recent losses back, after the GDP data released was better than expected, coming in at 0.4% instead of the forecasted 0.2%.

We have an extremely busy week ahead for the Pound data-wise and could expect some serious volatility or even a breakout into a trending market depending on the outcomes.

What to expect for the week? We have got on the 15th August UK unemployment rates & claimant count change; 16th August CPI consumer price index (inflation) & Eurozone GDP, then to finish the week off on the 18th August UK retail sales.

With this amount of market data we could easily see multiple cents movement across the space of a day, which could drastically affect how much your property would cost, depending on which way the market jumped.

For example if the market shot down two cents on a £150,000 transfer to euros you would be losing €3,000 euros from of your budget, and vice versa.

In terms of where the current rates are, the GBP/EUR market is still in a relatively strong place. Although not at the very top of the current range, we are still easily into the upper end of recent rates.

Get in touch with A Place in the Sun Currency today if you’d like to take advantage of these current rates, or see what strategies you have available with the upcoming potential volatility.

If you have already bought your property or even done your main currency transfer we can still assist with smaller payments, whether this is for rent, mortgages, account top ups or even just one off purchases or goods.

Exactly the same process as before and still a savings to be had. We can also buy and sell all major currencies, should you have any requirements elsewhere in the world.