Monday 20th January 2014
It’s been a quiet start to the week, with the Pound remaining supported at €1.21 against the Euro and still above $1.64 vs the US Dollar. The market was very quiet due to a US Market Holiday. We did see a slight decline in GBP/EUR rates today though, losing half a cent, coming down from €1.2150. This was due to the Euro gaining a little strength, helped by higher short-term market interest rates, although speculation the European Central Bank may step in stopped the rate dropping too far.
So as usual for a Monday, below I will list the remaining data releases this week that I think will affect exchange rates. Remember if you are looking for the best exchange rates, click here to send me a free enquiry to compare the rates I can offer you.
This week’s economic data releases.
Below are the main releases for the coming week. I think data from the Bank of England on Wednesday will be very important, along with UK Unemployment figures. Also bear in mind we have the World economic forum at Davos this week – any surprise comments that come from this could have an effect on exchange rates that will be impossible to predict.
Monday 20th January 2014
As I’ve stated above, today was very quiet with a US Market holiday, and a lack of anything of note from the UK or Europe.
Tuesday 21st January 2014
Quiet again, with only some Economic sentiment data from the Eurozone and Germany. If the numbers beat forecasts, expect Pound/Euro rates to drop away further. If however the figure disappoints, then Pound/Euro could edge higher.
Wednesday 22nd January 2014
Today is a key day for Sterling. At 09:30am we have the latest UK unemployment figures, and also the minutes to the recent Bank of England’s Monetary Policy Committee meeting. Both of these releases will be key to how the Pound performs in the coming weeks. If the Unemployment rate is less than 7.3% the Pound will likely rise in value.
Regarding the minutes, watch for any comments in the minutes regarding interest rates, as any hint of a rise will push Sterling higher. If comments suggest a rise is some way off, the Pound could fall.
Thursday 23rd January 2014
Nothing of note from the UK today, but we will see various inflation numbers from the Eurozone. We also have Jobless data from the states, so both the Euro and Dollar could change in value today.
Friday 24th January 2014
UK Mortgage approvals is the only data of note today.
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