Windsor2

As promised here’s a brief update on what’s been happening with the Euro over the last week.

Last week we saw a mixed bag of data from the UK economy with the Halifax reporting a drop of 0.6% in house prices for the month of June, while industrial output surged in May taking the annual growth to 3.8%, the highest since ’95! Plus manufacturing output jumped to annual gains of 4.3%, the highest gain since ’94 and boding well for yet more growth when Q2 GDP data is released.

In the EU we saw further anecdotal evidence of recovery helped by a more competitive currency with German industrial output rising by 2.6% in May and Mercedes Benz reporting their strongest sales in June in the company’s history.

GBP/EUR movement – High’s & Low’s of last week (5th July – 9th July)
High’s: 1.2121
Low's: 1.1907

A movement of 1.80%

Difference on £200,000
High: EUR 242,420
Low: EUR 238,140

Difference of: EUR 4,280

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