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GBP-EUR Rates – Small Drop Expected Today
With the Greek debt crisis swept under the rug, waiting to reappear in four months again when the bulge in the middle of the Eurozone carpet cannot be ignored, the focus has now returned much more to the day-t0-day changes in economic data to once more govern the rates, rather than heightened uncertainty about a political situation that only had one course to go down in the first place!
Surprisingly, during the ongoing talks with the Greek delegation, positive economic data was emanating from the Eurozone. GDP growth was higher than expected in the Eurozone as a whole and not just brought up by Germany, but countries seemingly performing feebly like Italy had rallied. Eurozone unemployment yesterday came out 0.2% lower than expected against the Pound, this move eased the pressure on the Euro, which had been sitting at a 7-year low against Sterling.
Tomorrow, we have the latest Eurozone Retail Sales figures, which are always considered a key market mover. With the European Central Bank focusing their economic bailout towards increasing spending and therefore spending, these retail figures may already be coming back higher than expected. Essentially consumers will be wanting to buy ahead of the price rises that come with the 2% inflation the ECB is targetting.
If you have Euro requirement to purchase I suggest calling into the trading floor today on 01494 725353 and asking for Joshua, or email me on [email protected]. Those looking to sell, wait a few days, we may see 1.36 before the weekend, similarly get in touch with me to plan ahead for any short term spikes in your favour.
Source: http://www.eurorateforecast.com/2015/03/03/gbp-eur-rates-small-drop-expected-today/
When it comes to GBP/EUR pair even small drop means a lot and it can make the market move big time so we have to keep money management perfectly in order to avoid any casualty and precaution is always better then cure. I use only OctaFX broker as their service is something anyone really love to use. Also, they have got low excellent swap free account that help us to trade without having to pay any fees on keeping trades on for long time.