France
2 December 2024
Weekly Market Headlines:
Sterling euro rates are testing 31-month highs, presenting potential opportunities for those looking to trade.
- Euro weakens: European Central Bank policymaker Martins Kazaks hinted at continued rate cuts, leading to further pressure on the Euro. This has also driven USD to EUR rates upward.
- Bank of England insight: On Wednesday, Governor Andrew Bailey will address the markets. His remarks could provide clues about the BoE’s short-term monetary policy direction.
- Eurozone data: Retail sales for October (Thursday) and Q3 GDP data (Friday) will reveal how the Eurozone economy is performing.
This morning, Sterling euro rates are once again testing recent 31-month highs, offering potential opportunities to lock in competitive rates. The euro has weakened following comments from ECB policymaker Martins Kazaks, who stated, “In my view, rate cuts must continue.”
Meanwhile, USD to EUR rates are also climbing, reflecting broader challenges for the single currency.
Looking ahead, Bank of England Governor Andrew Bailey’s Wednesday address could signal the BoE’s approach to interest rates, which may impact market sentiment.
On Thursday, the Eurozone will release retail sales data for October, offering a snapshot of consumer activity. This will be followed on Friday by Q3 GDP figures—arguably the most critical release of the week for assessing the health of the Eurozone economy.
How we can help you:
Understanding the nuances of the market is crucial, but acting at the right moment can make all the difference. At Lumon, we provide personalised guidance to help you navigate these market movements confidently, ensuring your FX strategy delivers the value and peace of mind you need.
Contact your account manager on +44 (0) 203 384 7280 to explore your options.
What events might move exchange rates this week?
GBP
- Wednesday: Bank of England Governor Bailey to speak
EUR
- Thursday: Retail sales
- Wednesday: GDP data
