This week there are a number of important economic data releases that are due for release which could cause volatility in the currency markets. So, if you need to transfer money abroad and you are looking for exceptional exchange rates make sure you speak to one of our experienced currency brokers today who will be happy to discuss your currency requirements, the options open to you and how these economic data releases could effect your currency requirement.
Monday – This morning we have already seen the Rightmove House Price Index released which has shown that UK property prices have increased year on year which is good news for the economy and may provide some strength for Pound Sterling exchange rates. Later today we have US housing data which will show the number of new houses sold in America which as per the UK housing figures could impact US Dollar exchange rates.
Tuesday – The Bank of Japan are expected to release their latest interest rate decision where rates are expected to stay on hold at 0.1%. The Reserve Bank of Australia are also due to announce the minutes from their last interest rate decision which will give an insight into their Central Banks opinion of the Australian economy.
Wednesday – The Bank of England minutes are set to be released at 9:30am and will give an insight into whether the BoE considered any further Quantitative Easing (QE) and who if any, voted for a change in interest rates. This is often an important data release for Sterling exchange rates.
Thursday – A key focus for the markets on Thursday is the European Council Meeting where it is expected that all the leaders of the Eurozone will attend and the economic issues of the single currency economy will be discussed. One of the main issues that will be on the agenda is Greece’s 2 year extension and how they can put together an austerity plan that will see them get out of their current 5 year long recession. Also to note, on Thursday it is Thanksgiving day in America so US markets will be closed.
Friday – The Eurozone meeting continues into its second day on Friday so it will be interesting to see whether there are any major developments. To end the week we also have German Gross Domestic Product (GDP) figures, Italian Retail Sales, British mortgage approvals and finally Canadian Inflation data.
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