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Important economic data out tomorrow for those with an interest in Euros and Dollars (Daniel Wright)
Although quiet for the U.K tomorrow brings us two fairly important pieces of economic data from both Europe and the U.S with European growth figures and U.S Non-Farm payroll data due out at 10:00am and 13:30pm respectively.
The final revision for growth figures during quarter 4 of 2014 is due out at 10am and expectations are for the figure to have been revised up a little which may lead to a little Euro strength to end off what has been a torrid week for Euro exchange rates.
Later on in the day we have U.S Non-Farm Payroll data which is a data release important for those with a Dollar interest and indeed interest in the ‘riskier’ currencies such as the AUD, NZD and ZAR. Non-Farm Payroll data is essentially the number of people in Non-agricultural employment over in the States and is a key indication as to how their economy is performing.
This release can cause quite a lot of volatility because predictions are made in advance and these can be wildly out. The market moves on rumours and predictions as well as fact, and should the figure come out quite a way from initial predictions the market does correct itself rather swiftly.The reason this effects the AUD, NZD and ZAR and pretty much most majors is because as I am sure you can imagine it will affect attitude to risk and will lead to rapid movements of large amounts of money globally in what generally presents an interesting week to say the least without any surprises popping up during the course of it.
If you have an upcoming transfer to carry out and want to get the best exchange rates along with great customer service and knowledge of the markets then email me (Daniel Wright) directly [email protected] I welcome all enquiries for bank to bank transfers however i’m afraid I cannot help with cash transactions or speculation.
Source: http://www.poundsterlingforecast.com/2015/03/05/important-economic-data-out-tomorrow-for-those-with-an-interest-in-euros-and-dollars-daniel-wright/
