USD Exchange Rates
This week is likely to be volatile for most of the currencies, especially the US Dollar. With the US Government being in a state of partial shutdown for the last few weeks all the economic data for the States has not been released as there has been no one at work to collate the data! This means this week the US is releasing a whole raft of key data sets including on Tuesday Non Farm Payroll data which is one of the major data releases which has historically caused huge swings in the currency exchange rates. Non Farm Payroll can be such a big market mover because it highlights the level of employment across America excluding the seasonally effected agriculture industry and because this is oftent huge numbers the actual data release is often wildley different from the predicted number. Also this week there are also housing stats, mortgage figures and manufacturing number announced in a week that is likely to see some big movement on GBP USD exchange rates.
So, if you need to buy USD and would like to be kept informed of all the latest USD news do not hesitate to contact us today.
GBP Exchange Rates
This week is also a busy one for the UK and therefore Sterling exchange rates. This week we have the latest set of Bank of England (BoE) minutes which will highlight their discussion and voting surrounding interest rates and Quantitative Easing, both of which we know were left unchanged but whether they considered amending either will be the key factor to be aware of. Then later in the week we have Gross Domestic Product (GDP) figures announced for Quarter 3 this year which will give us yet another indication as to whether the UK economy is still making a recovery from the recent recession. A positive GDP figure could help Sterling strengthen but should GDP come out worse than expected we could be prepared for the Pound to lose value.
If you are looking to transfer money internationally and would like to discuss your currency requirements and the options available to you please do not hesitate to contact us on 0800 328 5884 or if calling from abroad 0044 1494 725353 alternatively email me directly on email@example.com