Good morning and a very Happy New Year to our readers. We start 2018 with GBP/EUR at 1.1250 and GBP/USD at $1.3550. With markets now fully open, today we’ll take a look at what economic data is being released this week that could affect the currency markets. If you have a transfer to make and would like to compare our rates, get in touch today for a free quote.
This week’s economic data releases.
Tuesday 2nd January 2018 – Today is all about Manufacturing PMI numbers, with releases from Germany, the EU, UK, Canada and USA. The European numbers came in as forecast so had little effect on rates. The UK Number has just been releases and was slightly lower than expected, weakened the Pound a little. The US and Canadian releases come this afternoon and could move GBPCAD and GBPUSD if the results differ to the expected.
Wednesday 3rd January 2018 – Today GBP/EUR may move on the back of German job numbers, and UK construction data that is due at 09:30am. Construction is expected to come in at 52.7 (anything above 50 indicates growth). Elsewhere there is a raft of data from the states that could move GBP/USD rates, including Construction, Mortgage approvals, Manufacturing and the latest FOMC minutes.
Thursday 4th January 2018 – The Pound could be affect today by the latest UK House price data, Mortgage Approvals and Services PMI numbers. The EU also releases Services data, and over in the USA we have PMI and jobs numbers.
Friday 5th January 2018 – There’s nothing much of interest from the UK today that is likely to affect Sterling. In the EU however we have German Retail Sales numbers and EU wide inflation figures. Good readings here would strengthen the Euro, pulling GBP/EUR rates lower. It’s a busy day in the USA with the latest jobs numbers. As the Non-Farm Payrolls are so difficult to forecast, the actual reading is often very different which usually causes sharp movements in the Pound/Dollar rate.
If you would like a more detailed outline of what could move the currency pair you are looking at, get in touch today for a free consultation and forecast.