GBP Exchange Rates
It is expected to be a busy day in the currency market today with a raft of economic data due for release starting at half past nine with the crucial inflation data in the form of Consumer Price Index (CPI). CPI is a measure of the change in the price of goods and services and is a key indicator as to the strength of an economy. The Bank of England (BoE) are targeted to keep inflation running at 2% as this is thought to be a good, steady increase, any less than this would risk deflation while inflation rising too quickly could result in the price of goods rising too fast which could mean that if wages do not rise in line with inflation then people will struggle to be able to afford to spend money which can harm the economy. So, inflation is key and should the level remain around the current figure of 2.1% then it would be positive news for the UK but may not result in a lot of Sterling movement, however should the figure come out higher than expected it may increase the calls for an interest rate hike this year which as a result may give Sterling another boost.
So, if you need to make an international currency transfer make sure you speak with one of our currency brokers today so they can discuss your currency requirements and the options available to you. You can call straight through to our dealing floor for free on 0800 328 5884 or if calling from abroad on 0044 1494 725353 alternatively you can email me on firstname.lastname@example.org
Later today there are a number of economic data released for America including import and export figures, retail sales numbers and speeches from two memebers of the Federal Reserve Bank of America (FED). All of these economic data releases could have a large impact on the USD exchange rates and so we could expect a volatile afternoon for the Dollar when these economic realeses are made, starting at 1:30pm today. If you need to buy USD we offer a number of different contract options which includes a forward contract. This contract options allows clients to secure their exchange rate while they are at the current high levels for a period in the future using just a small deposit, this takes some of the risk out of the market and helps clients budget.
If you would like to find out more about these contract types or to discuss your currency requirements please do not hesitate to contact us as we will be more than happy to help.