Currency Forecasts: GBP/EUR, GBP/USD and overview

Pound Sterling Currency

Currency Forecasts: Good morning once again for a Monday we will start by taking an in depth look at what key economic data sets could impact the markets. We will focus on the major currencies and look at how this data could impact GBP, EUR, USD and AUD exchange rates.

Currency Forecasts : economic data releases

Monday 19th August – Today is a relatively quiet day from the UK and US with European data dominating. We have just had the release of European inflation figures in the form of Consumer Price Index. No surprises seen so a relatively flat market to start the trading week.

Tuesday 20th August – Overnight will see the release of the Reserve Bank of Australia (RBA) minutes from the latest interest rate meeting. Many are calling for the RBA to cut interest rates at their next meeting. Should these minutes support this view, we could see the AUD fall in value. Elsewhere we we have European Construction output at 10:00.

Wednesday 21st August – Again no data of not from the UK. We have inflation figures from Canada at 13:30 but the focus will be on the US with the FOMC minutes at 19:00. Again the markets are expecting the Fed to potentially cut rates again before the end of the year, this report could go someway to confirming this.

Thursday 22nd August – A host of European data this morning with markit manufacturing and services PMI. Following this will be ECB policy meeting accounts at 12:30. This afternoon will see US initial jobless claims and markit services PMI. This evening look out for retail sales data in New Zealand.

Friday 23rd August – To finish what has been a very quiet week from the Pounds point of view we have BBA mortgage approvals at 09:30. At 13:30 look out for Canadian Retail sales. The afternoon session will see US new home sales figures and a speech from Fed Chairman Jerome Powell.

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