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Hi All,

Here’s an update on what’s been happening with the Euro over the last week.

The Eurozone’s dominant service sector posted its fastest pace of growth in 22 months while the manufacturing sector expands for the first time in 17 months in October.

Retail sales fall unexpectedly in September, pointing to weak consumer demand and putting a question mark over the strength of any economic recovery.

The ECB held interest rates at 1.00% and Trichet signals that an offer of unlimited emergency one-year liquidity planned for December would be the last.

GBP/EUR movement – High’s & Low’s of last week (02/11/09 - 06/11/09)

High’s: 1.1212
Low’s: 1.1035

A movement of: 1.60%

Difference on £200k

High: €224,240
Low: €220,700

Difference of: €3,540

Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.

A further update will be added next week.

Regards




Jon Sermon
HiFX
 
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