What data could affect exchange rates this week?

Exchange Rates

I this evening’s post, we’ll take a look at the economic calendar for the week ahead, outlining the main releases due, and how they could affect Sterling exchange rates.

We’ve seen lots of volatility in the past week, with the Pound falling away from recent highs due to Bank of England comments and interest rate speculation. We’re also starting to see further developments with Brexit negotiations; if this causes further uncertainty, then it could also affect exchange rates….

If you have an upcoming currency transaction to make, there’s much to look out for in the next week that could impact you other than the below data. If you would like to discuss the currency markets with an expert, and get a free quote to compare with your bank or existing broker, make an enquiry today or email me

This week’s data

Monday 23rd April – With nothing of note from the UK today, focus will be on the latest inflationary measures from the USA, Germany and the EU. Better than expected numbers would increase the chances of a rate hike, strengthening the currency concerned.

Tuesday 24th April – UK public sector borrowing numbers are released at 09:30am. This is forecast to have grown, and if this is confirmed Sterling could struggle. Over in the USA we have House price data that could affect GBP/USD rates.

Wednesday 25th April – it’s a bank holiday over in many countries today so data is thin on the ground. There is a speech by the Canadian central bank governor, so that could move GBP/CAD rates.

Thursday 26th April – Today is an important one, as we have the ECB interest rate decision. I’m not expecting any change, however when the governor Mario Draghi speaks, his comments often cause big movements in the GBP/EUR rate. Dovish comments would weaken the Euro, however bullish comments could cause it to strengthen and become more expensive. The press conference comes at 1.30pm so expect volatility at this time.

Friday 27th April – UK Consumer confidence figures and GDP numbers are the main releases of the day. The preliminary GDP is expected at 0.4% – any more than this and we could see the Pound move higher. Conversely if the number disappoints, expect the Pound to fall.

If you need to make a currency transfer, and would like a free consultation on how the market could move, or would simply like to see what rates we can offer, make an enquiry today or email me – our rates are significantly better than banks will usually offer.