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Pound Sterling exchange rate forecast – Unemployment is key for exchange rates this week (Daniel Wright)
We have a reasonably quiet week ahead for U.K economic data with in my view the most important being on Wednesday morning at 09:30am where we see the release of the U.K unemployment rate, expected to remain at 5.6%.
Unemployment and average earnings figures are one of the key components in the Bank of England’s decision as to when they may hike interest rates and with news on Thursday that still only one member had voted in favour of a rate hike those looking for Sterling strength will need to see an improvement in these figures to give the Pound a boost back in the right direction.
Later in the week we have U.S Retails sales figures (Thursday) and European GDP (Growth figures) due out on Friday which I would expect to have an impact on the value of the Dollar and Euro.
All in all a fairly quiet week on the markets but as regular followers will know, it is fairly rare that surprises do not pop up so it is important that if you have a currency transfer to carry out in the near future that you keep in close contact with a proactive and efficient currency broker.
If you would like me on your side for your future currency exchange then I would be more than happy to help you personally, I deal with clients exchanging anything from £2000 to multi million Pound transactions and will be happy to add you to my list of clients.
All you need to do is email me (Daniel Wright) on [email protected] and I will be more than happy to give you a call to explain the various options we have available to you.
Source: http://www.poundsterlingforecast.com/2015/08/10/pound-sterling-exchange-rate-forecast-unemployment-is-key-for-exchange-rates-this-week-daniel-wright/
