Monday 18th November 2013
It's been a quiet start to the week, with no major economic data releases. Despite this, Sterling has fallen a little throughout trading today to around €1.1900 vs the Euro and $1.6100 vs the US Dollar, however the Pound does remain strong overall relative to where it has been of late.
So, in today's report I'm going to list all of this weeks economic data that can affect exchange rates. Regular readers will know I often give my opinion on major releases, and the effect that I think they will have on exchange rates. Knowing things like this are invaluable when deciding to fix your exchange rate.
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This weeks economic data releases and how they may affect exchange rates
Monday - Today has been very quiet, with only EU Trade Balance figures that were as forecast, so had no real impact on exchange rates.
Tuesday - The most important number today is Germany's ZEW Economic Sentiment survey at 10am. This is a leading indicator of the German economy, and as Germany is the largest economic in the EU it can have a big impact.
The forecast result is 54.6 - any higher than this would make GBP/EUR rates fall and vice versa. Elsewhere we have Speeches by FED members that could affect GBP/USD rates.
Wednesday - The most important day for GBP/EUR rates in my opinion. Firstly at 09:30am we have the Bank of England minutes. These show how members voted 2 weeks ago when they decided to leave Quantitative Easing and Interest Rates on hold.
It's important as it also shows the discussions and differences of view, and so give an idea which way future decisions may go. Pound/Dollar could move around today also, as we have some key Inflation data from the States in addition to Retail Sales.
Thursday - An important day for the value of the Euro. we have inflation, consumer confidence, manufacturing and borrowing data for France, Germany and the EU as a whole. As usual, higher than expected numbers will strengthen the Euro and pull GBP?EUR rates lower. Lower than expected figures would have the opposite effect.
Elsewhere, the UK has Public Sector Borrowing figures, and the USA has a host of Unemployment numbers and Inflation data.
Friday - A quiet end to the week, with nothing of note from the UK. We have Germany Business Climate numbers at 9am, followed by Italian Retail Sales (A good barometer of their economy as a whole).
So there we have it, all of the above will be the main events that drive exchange rates this week.
What does this actually mean for the currency you need to buy or sell?
This of course depends on which currency you are buying or selling, and the timescales you are working to.
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