Exchange Rate Outlook Tuesday 21st January
Following a quiet day for economic data yesterday today seems likely to follow suit with very little data of note expected to be released over the course of trading. The main point to be aware of is the ZEW survey for Europe which is a measure of the economic conditions in the single currency economy and gives an overview of investment sentiment. Any score over 50 usually indicates that positive sentiment outweighs negative views and today the prediction is for the survey to improve marginally which may bring some Euro strength today. With the data released at 10am this morning any clients with a EUR currency requirement may well be worth staying in close contact with one of our helpful currency brokers here at Foreign Currency Direct plc so we can keep you informed of the market reaction to the data release.
Late tonight we have Australian consumer confidence figures which although outside of our trading hours (the release will be close to midnight UK time) they could cause some big movements for the Australian Dollar (AUD) and with the expectation that the release will be negative for the AUD it could provide Sterling with yet another boost against the Aussie Dollar. If you need to buy AUD and would like to try and make the most of any spikes available then a limit order may be useful. A limit order means that clients can target a specific rate of exchange and using our systems can buy their chosen currency when it hits their desired rate regardless of what time it is, so effectively you can place an order with us and then just let our systems do the work for you!
To find out more about limit orders and the other contract types available to you contact us today. You can call us for free on 0800 328 5884 or if calling from abroad on 0044 1494 725353 alternatively you can email me directly on firstname.lastname@example.org