Sterling has traded within a tight range for most of June, and UK GDP figures released this morning came in as expected, doing little to shift the pound for now.
But that calm may not last long!
This week, attention turns to the euro, with two key data releases that could influence euro exchange rates, especially if you’re buying in places like Spain, France, or Portugal.
- Tuesday: Inflation data is due from the Eurozone. Markets expect a figure of 2.3%. A higher or lower result could hint at what the European Central Bank (ECB) might do with interest rates and that could shift the value of the euro quickly.
- Wednesday: We’ll also get unemployment data for the region. With 6.2% expected, any surprises may also cause market movement.
🔍 So what does this mean for you?
If you’re planning an overseas property purchase or any large euro transfer, rate movements could impact how much you get. For example, on a £100,000 transfer in June, based on the highs and lows of June, you could have made a difference of €2,150 to your budget. *Example based on current mid-market rates and may not reflect your actual exchange rate. Speak to a Lumon specialist for a personalised quote.
If you’re planning a transfer this week, whether it’s a property payment, investment, or sending money to family speak to a Lumon currency specialist today. Call +44 (0)204 506 5672 to explore your options.
