This morning at 7am we saw the release of German GDP figures which came out slightly worse than expected, with Germany being the largest economy in the Euro Zone this has led to some fantastic buying opportunities in early morning trading. We are due to see the GDP (Gross Domestic Product) data for the rest of the Euro Zone at 10:00am so anyone with an interest in buying or selling Euros may wish to contact their account manager first thing this morning, to discuss the various options available to you, as Euro exchange rates will no doubt be extremely volatile leading up to and following this release.
Recently, the U.K released their GDP figures and they actually came out much better than expected which has been one of the key matters that have led to Sterling strength of late.
The PIIGS of Europe – Will they return?
Personally, a subject I believe will be hitting the headlines again sooner rather than later is the well documented PIIGS of Europe (Portugal, Italy, Ireland, Greece and Spain) and the many problems these economies are facing economically. Following a huge media frenzy around the situation things now apparently have been swept under the carpet, however I believe it will only be a matter of time before things really blow up again. Potentially the tourist season has managed to carry them through the past few months and with Ireland in particular starting to hit the headlines once again those of you looking to sell Euros may wish to consider shifting funds sooner rather than later, as I would not be surprised to see levels pierce the 1.20 barrier against the Pound by the end of the month.
If you are buying a property abroad and want the best exchange rates, just email ajm@currencies.co.uk / call 0800 328 5884 or visit www.currencies.co.uk and quote AJM Blog GBP Sterling USD Dollar EUR Euro NZD Kiwi AUD Aussie DKK Krona CAD Loonie CHF Swiss ZAR Rand THB Baht HKD Dollar CZK Krona TRY Lira SEK Krona NOK Krona
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