This week sees a number of key economic data releases for the UK and therefore Sterling exchange rates. Tomorrow we have inflation figures in the form of Consumer Price Index (CPI) and Retail Price Index (RPI), on Wednesday we have the Bank of England minutes and unemployment figures and on Friday we have retail sales figures. These figures could paint a picture of the current UK economy and how the country is performing. The inflation figures tomorrow will show whether the prices of goods and services in the UK are growing and if so by how much – the target is 2% but previously we have seen inflation get far too high so anything around the 2% level will be positive for Sterling. The minutes on Wednesday will an indication as to whether the Bank of England discussed further monetary easing or even a change in interest rates. Finally, unemployment and retail sales will give a clear picture of how the UK High Street is performing and the number of people out of work currently.
Both the EU (EUR) and the US (USD) have inflation data this week while Chinese Gross Domestic Product figures could make interesting reading later in the week. If you have an upcoming currency requirement and would like to find out how these economic data releases could impact your money transfer please speak to us today. You can call straight through to our dealing floor to speak to one of our experienced currency brokers who will be able to discuss your currency requirements, the options available to you to help you get the best exchange rates on our freephone number 0800 328 5884 or if calling from abroad 0044 1494 725353 or email us on firstname.lastname@example.org.