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Pound Sterling exchange rates – What to expect this week? (Daniel Wright)
We have a busy week ahead for Sterling exchange rates with Wednesday being the big danger as we have the Bank of England minutes from the last interest rate decision coupled with unemployment figures for the U.K.
Any mention of further QE (Quantitative Easing) could lead to Sterling weakness and unemployment figures also released at 09:30am may be key.
Tonight those with an interest in Australian Dollars should be aware that we have the Reserve Bank of Australia minutes out at 02:30am which may lead to a shift in rates overnight, especially if there is a door left open for another interest rate cut in the next future. A cut in interest rates generally is seen as negative for the currency concerned so it could edge the pairing closer to the 1.60 mark.
Tomorrow morning we have a host of inflation data for the U.K and trade balance figures for the Eurozone so I would expect a little movement for GBP/EUR exchange rates tomorrow morning.
In my opinion Wednesday is the key day as mentioned above and this may set the scene for the rest of the week for the Pound against all major currencies – Especially if we do see the negativity of QE spoken about again.
Thursday we will see Retail Sales data for the U.K which is expected to have dropped a little but I still believe this figure should be fairly solid, Friday caps of a busy week for the Pound with Public Sector Net Borrowing figures once again for the U.K.
I would be a little wary of Fridays figures as borrowing figures by the U.K Government have not been great of late so if you have a transfer to carry out and the rest of the week has not led to you doing it then be aware this is certainly a release to watch as well.
Transfer to carry out?
If you are one of my regular clients then do feel free to get in touch with me directly and I shall be more than happy to monitor the market for you over the week
If you have not used me before yet have a currency transfer to carry out it may be prudent to consider your options and ensure that you have a proactive currency broker on your side. If you currently do not use a currency broker or you feel you could get a better price or level of service than you are currently getting then by all means feel free to email me directly and I will be happy to personally help you for any currency transfer. [email protected] and i look forward to hearing from you.
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2012-10-15 14:37:58
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