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Sterling Euro rises on UK Unemployment Data (Tom Holian)
Sterling Euro exchange rates have seen another day of improvement following the best UK unemployment data published in 7 years.
Although UK average earnings were lower than expected the overall news was positive for the UK economy which has led Sterling to gain vs the single currency.
Tomorrow morning ECB president Mario Draghi takes centre stage and will be discussing his views on the Eurozone and with his comments over recent weeks suggesting additional Quantitative Easing as well as potentially cutting interest rates I think his comments could see Sterling Euro rates even higher in the afternoon tomorrow.
On Friday Eurozone GDP figures are announced and I think if the data is poor we could see Sterling Euro rates hit their highest level all year creating some excellent opportunities to buy Euros with Sterling.
We finally finish the week with US Retail Sales and with the Federal Reserve getting ever closer to raising interest rates and commenting on a number of occasions that a rate rise is data dependent I think we could see GBPUSD rates drop below 1.50 and GBPEUR rates hit 1.42 on the Interbank level.
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.poundsterlingforecast.com/2015/11/11/sterling-euro-rises-on-uk-unemployment-data-tom-holian/
