Good morning and welcome to a new week in the currency markets. After last week’s sharp fall for Sterling, in today’s post I’m going to list the main economic data releases that I think could affect exchange rates. Remember that if you’re looking to save money by getting the best possible exchange rates, I can help. In addition to providing information on the currency markets, my company can also provide commercial exchange rates that are up to 5% better than bank and other brokers.
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This week’s economic data releases
Monday 4th April – Today we have PMI construction data from the UK, and Unemployment data from Europe. Both could affect Sterling/Euro rates depending on the result. This afternoon, the USA has Factory orders that might strengthen the USD.
Tuesday 5th April – There are no releases of note today from the UK. Over in Europe, inflation data will be watched closely, as it will have an effect on future EU monetary policy, and as such could affect GBP/EUR. Across the pond, the USA releases trade balance figures along with inflation numbers. Lately US Data has been quite strong, and a continuation of this could pull GBP/USD rates lower.
Wednesday 6th April – The main events on today’s agenda are the ECB monthly meeting that could affect the Euro. Later in the day we have the FOMC minutes from the USA. These give a good outline of the currency economic and financial conditions, and so are important for GBP/USD rates.
Thursday 7th April – Yet again a very quiet day from the UK with no releases of note. However it’s still an important day for GBP/EUR rates, as there is a speech from the ECB president Mario Draghi, and his comments often cause a change in exchange rates. The USA provides its latest Jobless Claims at lunchtime.
Friday 8th April – Finally some UK data to chew on, in the form of the latest Industrial and Manufacturing production figures, along with a GDP estimate. Probably the most important day for the Pound.
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