Will Sterling go up or down this week?

Good morning. In today’s post we’ll have a look to the week ahead and see what economic data releases are due that could affect GBP exchange rates. GBP/EUR has been rather flat of late, while the markets await any news that could break the Brexit deadlock. It could be that cross party talks collapse this week, and that would probably weaken the Pound. Read on to see what else is happening in the coming week that could move the markets. If you need to make an international transfer, then contact us today to discuss how we can help you achieve the best exchange rates.

This week’s economic data releases

Monday 13th May 2019 – There is nothing of note on the calendar today from either the UK or EU, so we expect GBP/EUR to remain flat in the absence of any Brexit news. This afternoon we have some speeches by members of the US and Canadian central banks that could influence GBP/USD and GBP/CAD respectively.

Tuesday 14th May 2019 – Today could affect Sterling, as we will see the latest jobs data from the UK including Average Earnings, the Unemployment rate, and the Claimant count change. UK unemployment is the lowest in decades and wages are growing faster than inflation. If this continues it could help the Pound. Elsewhere, GBP/EUR could also be affected by EU wide measures of Industrial Production and an Economic Sentiment Survey.

Wednesday 15th May – There’s nothing for Britain today, but GBP/EUR could still move on numbers from the Eurozone. Gross Domestic Product (GDP) figrues are release for Germany and the Eurozone as a whole. We expect quarterly growth of 0.3%/0.4%. If higher, the Euro would strengthen and pull GBP/EUR lower. Elsewhere, for those watching GBP/USD and GBP/CAD, we have US Retail Sales, and Inflation numbers from Canada .

Thursday 16th May – It’s quiet again in the UK so focus for GBP/EUR will be on speeches by various members of the European Central Bank (ECB). Any dovish comments would weaken the Euro, while any hawkish signals that stimulus could be scales back would strengthen the Euro and bring the GBP/EUR rate down. We’ll also see a speech by a Bank of England (BoE) member. GBP/AUD could also be affected by the latest Australian jobs figures.

Friday 17th May – We end the week with a raft of inflationary measures from the Eurozone, which could impact future interest rate movements. Other than that it’s quite quiet on the data front.

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