Monday 1st December 2014
Good afternoon and welcome to a new month. The currency markets have been relatively stable over the last week, with GBP/EUR remaining around the €1.26 mark, and GBP/USD in the $1.57’s.
In today’s post I will list the economic data releases for the coming week that I think could affect exchange rates.
This week’s economic data releases
Tuesday 2nd December – Today is quite light for UK data, with Construction PMI the only release of note. We’re expecting the number to be 61.2 so anything above this could give the Pound some strength. In Europe, Spanish employment numbers are released. Australia has its latest building numbers, along with an Interest Rate statement from the RBA. Over in the United States there are 2 speeches by FED members, and also the chair Janet Yellen, so GBP/USD could be affected.
Wednesday 3rd December – This could be an important one for Sterling, as we have Services PMI and the Autumn forecast Statement. GBP/EUR could also be affected by today’s EU Retail Sales figures and some EU inflation numbers. Most data is from the states today though; Manufacturing, Employment and speeches by FED members.
Thursday 4th December – We have the latest interest rate decisions from the UK and EU today. While I expect no movement in the actual rate, speeches by the Banks governors afterwards could well affect Sterling/Euro exchange rates. We also have further US employment numbers this afternoon
Friday 5th December – We end the week with a host of US data including Trade Balance numbers and Non-Farm Payrolls. These 2 releases often cause volatility in the exchange rate for GBP/USD.
Do you have an upcoming currency transaction?
If you need to convert currency then get in touch to find out more about the exchange rates I can offer. I regret we do not deal with cash or holiday money, only bank to bank transfers for amounts £5k+. You may have bought or sold a property abroad, or perhaps your business buys and sells goods from the Eurozone. Whatever your currency needs, you could save thousands by achieving a better exchange rate.