Sterling/Euro rates have started the week very well, rising to €1.15 which is around the highest we have seen this paid since June last year. In today’s post, we’ll take a look at what economic data releases due for the coming week, and how these could affect Sterling exchange rates.
This weeks data releases:
Monday 9th April – today we have already had strong UK house price data, that has helped support the Pound. We’ve also seen rather disappointing Germany trade balance numbers, weakening the Euro slightly and helping push GBPEUR up to €1.15. Later today we have a speech by an ECB member that could affect the Euro.
Tuesday 10th April – A speech by a Bank of England member is the only thing of note for the UK. With an absence of anything of note from the Eurozone, there’s not much scheduled that could affect GBPEUR. Elsewhere, there is a raft of data from the USA including inflation numbers that could move GBPUSD raets.
Wednesday 11th April – Today is likely to be the most interesting for Sterling, as we will see the latest Industrial and Manufacturing production data, along with Trade balance numbers. If these numbers are strong, then it could lend further support to the Pound. We also have a speech by the ECB president Mario Draghi today, and this could also move the GBP/EUR rate.
Thursday 12th April – Focus with be on Europe today with the latest Industrial Production figures due to be released at 10am. Over in the USA we have Jobless claims and import prices, both of which could affect GBP/USD. Late in the day at 8pm, the Bank of England governor Mark Carney gives a speech, and his comments often move the Pound so always something to watch out for.
Friday 13th April – There’s nothing of note from the UK today. The only EU data is Trade balance figures and the latest German inflation numbers. Some speeches by FED members round off the week.
If you are looking to exchange one currency to another and would you like to see what rate we can offer, make a free enquiry today. The rates we source for our clients are typically 2%/3% better than your bank would offer, and on large transfers the savings can run into the thousands.