Best Euro Exchange Rates - Best Euro Rate Information


by Jonny Harris

Markets fall as banks call for further margins on positions

UK News

Heads turn to the Bank of England rate decision today at 12 and is unlikely that there will be a change in policy. From the recent UK data we have seen, this comes to no surprise. UK retail sales are expected to rise 0.5% following on from the 1.3% increase back in April. Bank of England Governor, Mark Carney, and Chancellor George Osbourne will give their annual Mansion House speeches.

US News

Over night, both the FOMC and the Bank of Japan left rates unchanged as expected. The median dot plot for the FOMC showed that they still expect to increase the rates two times this year, which meant we still saw a lot of market movement baring in mind the releases were in line with the expectations. Having said that, 6 out of the 17 FOMC members now think that there will only be one rate hike in the US this year as a pose to 1 out of 17 members previously.

EU News

In the Eurozone this morning, the CPI for may is scheduled to be released where no change is expected. The US CPI follows this and once again we don’t expect to see any change in the annual CPI but CPI excluding food and energy is expected to pop up slightly by 0.1%. The dollar is likely to continue to strengthen on the back of this.

Morning Market Rates

GBPEUR 1.2700
GBPUSD 1.4300
EURUSD 1.1250