UK Inflation Report – GBP Exchange Rates
This morning at 10am the latest inflation report is released as Bank of England Governor Mark Carney is due to report to the Treasury Select Committee. Recently inflation has been strong in the UK and so today’s report could bring some positive movement for GBP exchange rates if this trend continues. In the meantime the Eurozone release their latest Gross Domestic Product (GDP) figures which are expected to show minimal growth for the single currency economy, however should this figure fall then we may see some serious EUR weakness and so some excellent opportunities to buy EUR. The day ends with Canadian interest rate announcement and US mortgage figures meaning the CAD and USD could be very volatile this afternoon.
AUD Exchange Rates
This morning the latest revision of Australian Gross Domestic Product (GDP) figures were released and showed an increase which has provided a significant amount of AUD strength and so some excellent opportunities for clients looking to sell Australian Dollars. The growth in Australian GDP figures were put down to their exports coupled with an increase in domestic consumption. This is a very positive sign for Australia and should mean their currency benefits over the course of trading, however should we see the AUD strengthen too far it may mean we see the Reserve Bank of Australia have to step in again in order to ensure the Aussie Dollar does not get too strong and damage their export market.
So, with so much key economic data due for release today make sure you stay in close contact with your account manager here at Foreign Currency Direct plc. You can call us for free on 0800 328 5884 or if calling from abroad call us on 0044 1494 725353 alternatively email me directly on firstname.lastname@example.org