This morning we will have the latest Gross Domestic Product (GDP) figures which are expected to show that the Olympics helped boost the UK economy out of recession which as a result should have a positive impact on Sterling exchange rates. The data is released at 9:30am this morning and should we see the 0.6% expected figure or better we could see Sterling exchange rates push up against most the major currencies, however if the figure does not come out as expected we could see some Sterling weakness. So, if you have an upcoming currency requirements speak to one of our experienced currency brokers today to be kept informed of the latest GDP figures and the impact on the currency market.
In the States we have a number of key economic data releases due for this afternoon which will help paint a clearer picture of the US economy and with only two weeks until the Presidential elections these figures will be very closely watched. Tomorrow will also be key for any clients looking to buy US Dollars as US GDP figures are released and as per the UK’s figures the expectation is positive but any deviation from the expected figure could cause Sterling Dollar exchange rate movement.
If you need to send money abroad and are looking for the best exchange rate make sure you speak to one of our experienced currency brokers today so they can discuss your requirements and all the options available to you. These contract options include a forward contract where, for a small deposit, you can secure your rate of exchange ahead of when you actually need the currency in order to help you budget and take some of the risk out of the market. To discuss this and the other options you can call straight through to our dealing floor for free on 0800 328 5884 or if calling from abroad 0044 1494 725353 or email us on email@example.com