Weekly Currency Update GBP/EUR - Week ending 6th August
Aug 9th 2010, 2:07 pm
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Weekly Currency Update GBP/EUR - Week ending 6th August
As promised here’s a brief update on what’s been happening with the Euro over the last week.
Last week the data out from the Euro Zone continued to reflect a strong recovery. Manufacturing PMI and the services PMI for July both beat expectations, albeit with strong growth in Germany and France masking weakness in the south of Europe. Retail sales were flat indicating that domestic demand could still drag but the ECB president gave an upbeat tone of the Euro Zone as a whole as they left interest rates on hold at 1%.
This Friday we have the 2nd quarter GDP growth figures from Europe which will give us a picture of how the economies performed during the sovereign debt saga.
GBP/EUR movement – High’s & Low’s of last week (2nd August – 6th August)
High’s: 1.2115
Low's: 1.1993
A movement of 1.03%
Difference on £200,000
High: EUR 242,300
Low: EUR 239,860
Difference of: EUR 2,440
Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.
Regards
Mark Bodega
Director - HiFX
Last week the data out from the Euro Zone continued to reflect a strong recovery. Manufacturing PMI and the services PMI for July both beat expectations, albeit with strong growth in Germany and France masking weakness in the south of Europe. Retail sales were flat indicating that domestic demand could still drag but the ECB president gave an upbeat tone of the Euro Zone as a whole as they left interest rates on hold at 1%.
This Friday we have the 2nd quarter GDP growth figures from Europe which will give us a picture of how the economies performed during the sovereign debt saga.
GBP/EUR movement – High’s & Low’s of last week (2nd August – 6th August)
High’s: 1.2115
Low's: 1.1993
A movement of 1.03%
Difference on £200,000
High: EUR 242,300
Low: EUR 239,860
Difference of: EUR 2,440
Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.
Regards
Mark Bodega
Director - HiFX
