Weekly market headlines:
US-China talks ease recession fears, boosting global confidence. The US dollar has strengthened against the euro, which in turn has pushed GBP to EUR rates higher. For example, a transfer of €100,000 could now cost you £850 less compared to last week.
- UK unemployment and wage data are due Tuesday morning. If figures come in stronger than expected, it could offer support to the pound, giving you a more favorable exchange rate.
- US inflation figures, released Tuesday afternoon, could influence future interest rate decisions in the US, affecting dollar-based transfers.
- UK GDP results are out Thursday morning. This is a key indicator of the economy’s health and may impact pound strength later in the week.
If you’re planning a transfer this week, whether it’s a property payment, investment, or sending money to family, these upcoming data releases could affect the rate you receive. Speak to a Lumon currency specialist today. Call +44 (0)204 506 5672 to explore your options.
What’s happening this week?
EUR
- Wednesday: Eurozone retail sales data.
USA
- Tuesday: Inflation figures
UK
- Tuesday: Unemployment and wage data
- Thursday: GDP data
