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Sterling Euro awaits ECB Decision & Public Sector Net Borrowing for the UK (Tom Holian)
Sterling Euro exchange rates have remained in a tight range during the early part of this week as investors wait with baited breath for tomorrow’s European Central Bank decision.
With Eurozone inflation still measuring below 0% this is clearly worrying and any hints to any form of Quantitative Easing could weaken the Euro providing some excellent opportunities to buy Euros with Sterling.
Although I don’t think we’ll see any addition to the current amount of QE I do think any suggestions that it may be increased in the future could put pressure on the single currency.
The Public Sector Net Borrowing figures have come in better than expected and UK government finances appear to be in better shape which has led to Sterling strength vs the Euro during this morning’s trading session.
UK Retail Sales are due out in the morning at 930am and although typically these would cause market movement I think it will be much more important for exchange rates to focus on the announcement and press conference by the ECB tomorrow afternoon.
My prediction for the release is that we’ll see Sterling gaining against the Euro.
If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]
Source: http://www.eurorateforecast.com/2015/10/21/sterling-euro-awaits-ecb-decision-public-sector-net-borrowing-for-the-uk-tom-holian/
