With the GBP/EUR rate remaining fairly static over the last few days we haven’t had much to report on. However that could all change today with the ECB’s interest rate, monetary policy and press briefing today. These all happen through the course of the afternoon. Consensus, as you would expect, is for little change. However it’s the press conference that could cause some movement in the rate.
It’s been a slightly different story with GBP/USD in recent days with Sterling initially returning to it’s strengthening early in the week and then releasing the gains over the past 48 hours. The movements don’t appear to correspond with any data or global news stories so it looks like trading action only. There was a little speculation around the £10B tax raise for the NHS and social care, but this probably had little impact.
Therefore eyes will be on the ECB data throughout the course of the day and if there are any major movements we will put out a news flash.
Into tomorrow morning keep a close eye out at 7am in the UK when a raft of data is announced including the Manufacturing and Industrial Production figures and month on month GDP numbers.
As ever we look forward to keeping you in the loop and look out for our next update.
Our friendly currency experts are here to assist you and guide you through the markets, we offer a first-class service and even an online platform so you can monitor your transaction in real time.
Our business ethos is based on bank beating rates and fantastic customer service, click the link below for a no obligation quotation and see the savings for yourself.
Today’s Economic Calendar
EUR: 12:45 ECB Interest Rate Decision and Monetary Policy
US: 13:30 Initial Jobless Claims
EUR: 13:30 ECB Press Conference
UK: 07:00 Industrial and Manufacturing Production
© 2022. RegencyFX Ltd. All rights reserved. *Third party fees may apply.
Payment services for RegencyFX Ltd are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: The Steward Building 1st Floor, 12 Steward Street London E1 6FQ.
The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199). In the US Currency Cloud operates in partnership with CFSB. CFSB fully owns the bank program and services are provided by The Currency Cloud Inc.