GBP Exchange Rates Await Retail Sales

It is a quiet day for economic data in the UK so the markets will be eagerly anticipating tomorrows Retail Sale which will give us a clear indication as to how the UK High Street performed over the Christmas period. The recent figures released by some of the major retailers have been mixed with some of the major retailers including Tesco and M&S while several retailers including Argos, Homebase and Dixon all announcing this morning strong sales. So, it will be very interesting to see the figures tomorrow as positive numbers could provide Sterling with a real boost while a negative figure could lead to Sterling weakness. While there is a chance the figures may be weak tomorrow I believe that due to the current economic situation we will see retailers that offer more value products performing well which may help prop up the overall sales figures. So, if you need to make a currency transfer it will be important to keep in close contact with our experienced currency brokers here at Foreign Currency Direct plc. We will be able to act as your eyes and ears on the market and keep you informed of all the relevant currency movement and discuss the options available to you so you can make an informed decision as to when to make your transfer.

USD Exchange Rates

Other economic data of note today includes European Consumer Price Index (CPI) which is expected to show inflation at 0.8% in the Eurozone and also inflation figures for the US which is expected to show higher figures at around 1.5%. Also released today are US jobless figures, housing market figures for the States and also a speach from current FED chairman Ben Bernanke in what will be one of his final speaches as Chairman of the FED. So, if you need to buy USD then it would be worth keeping in touch with your account manager here who will be happy to help.

You can call straight through to our trading floor to speak with one of our helpful currency brokers for free on 0800 328 5884 or if calling from abroad on 0044 1494 725353 alternatively you can email directly on trh@currencies.co.uk