Exchange Rate Outlook
It is a relatively quiet week for Sterling exchange rates with most of the focus likely to be on Eurozone and the USA and considering Sterling exchange rates are so very strong at present closing in on some of the highest levels we have seen for some time meaning we are witnessing some excellent buying opportunities. Today we have a raft of economic data for the US with Durable Goods order, housing price index and consumer confidence figures three of the more noteable data sets, while in the Eurozone European Central Bank (ECB) president Mario Draghi is due to speak which, following the recent European wide elections could be interesting.
Tomorrow we have the latest Swiss Gross Domestic Product figures which are predicted to show a sharp increase which could generate some strength for the Swiss Franc. Also announced on Wednesday are the latest set of unemployment figures for Germnay and consumer confidence figures for the Eurozone. Then on Thursday the focus is back on the US with their latest Gross Domestic Product figures and initial jobless claims both of which could be really key for the USD. Finally the week ends on Friday with Canadian Gross Domestic Product figures which is expected to fall and therefore could cause some CAD weakness if these figures do come out as low as expected.
While it is quiet for the UK the focus is likely to be on the election results from over the weekend while both the EUR and the USD are expected to have a busy week. So, if you need to transfer funds internationally and would like to discuss the market outlook in more detail and the different options available to you please contact one of our team of experienced currency brokers who will be more than happy to help. You can call straight through to our trading floor for free on 0800 328 5884 or if calling from abroad call us on 0044 1494 725353 or alternatively email us at email@example.com