The euro started well enough but finished badly. The net result was a loss of two and a quarter US cents to the week’s top performer and a cent and a quarter to sterling.
For once, the euro zone economic data were not wholly rubbish. The bright points included greater business confidence in Italy, fewer unemployed in Germany, quarterly growth of 0.5% in Spain and monthly improvements for all five of the EC pan-Euroland confidence measures. Not all the data were positive though. Germany delivered some vaguely worrying figures with business confidence fading further, retail sales going down and inflation failing to move above 0.8%.
Inflation for the euro area as a whole did edge higher, from 0.3% to 0.4%. However, the core measure, which ignores volatile components such as fuel and fresh food, slowed from 0.8% to 0.7%, matching its record low..
For more information about these and the other options that are available to help send money to and from France as efficiently as possible call the experienced and friendly team at Moneycorp. You can call straight through to the trading floor on 0044 20 7589 3000 and quote “Sextant” to benefit from great rates and first transfer free (usually £15 over the phone and £9 online).
Call +44 (0) 20 7589 3000 (Open 7:30am – 9pm Monday 9am to 1pm Saturday to Friday UK Time)
Moneycorp are Sextant French Properties preferred currency partner and have been selected due to their great rates, great service and great solutions. These are some of the reasons they have transacted over two billion pounds for their clients.
Moneycorp has been in the business of moving money between countries and currencies for over 30 years and offers money-saving foreign exchange to customers ranging from blue-chip businesses to private individuals. We make money transfers simple and help you to manage foreign exchange rate movements.
Moneycorp also offer a number of different contract options for Sextant clients including a forward contract where you can fix a rate of exchange for a period in the future using just a small deposit, perfect to help take the risk out of the currency markets and budget for your French property purchase.
Tags: currency update