This morning we have seen German inflation levels cooled down for its first time in 2024, being unchanged from March to April at 2.2%. After 3 consecutive months of drop in inflation for the European country, it has now flatlined. Inflation is not the issue for Germany and other European countries, what has been and continues to be the concern is lack of economic growth.
The last week was pretty volatile for Sterling exchange rates, with the Pound falling prior and following the BoE decision. The simple update is that 2 members voted for a cut which meant that traders have now started to price in the first BoE cut for June - this essentially weakened off the Pound through Thursday.
As the allure of Portugal's Golden Visa programme persists, recent changes have catalysed a significant shift towards investment in the Algarve region.
This morning has seen GBP continue to lose further ground against both The Euro & US Dollar in particular as we lead up to The Bank of England’s rate decision tomorrow. Current feelings within the market are pretty much in line with rates being unchanged, however what we anticipate might move the markets is whether the number of members voting for a cut will have increased from the solitary one member last time, or whether it’ll still be a minority in favour.
May’s Federal Reserve Interest Rate meeting took place last night, and for a change it was pretty much a non-event in the markets. The Central Bank has again kept Interest Rates on hold at their current levels of 5.5%, this has shown a complete U-turn by officials after initially stating in January that rate cuts were just around the corner.
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Sterling exchange rates are in a strange position currently, on one hand, they are outperforming against the Euro, and on the other, severely underperforming against the U.S. dollar, which has strengthened by 3% since March. On Friday, GBPEUR closed at 1.1680, a solid level which gives enough of a case for Pound to Euro exchange rates to push up further in the near term.
As you approach retirement, one of the most pressing questions you might have is: is $1 million enough to retire comfortably? The idea of becoming a millionaire is often associated with financial security, but when it comes to retirement planning, the picture is more complex.
