Tomorrow we have the release of key unemployment and average earnings figures for the U.K at 09:30am.
This data will be key for the performance of the Pound not only throughout tomorrow but as we head towards the end of the week.
Unemployment levels are predicted to remain at 4.3% so as long as there are no surprise alterations to this I do not expect any major dramas, however there will be a lot of focus on average earnings and if we have any improvement there.
The reason average earnings figures are so important at present is because there is a fairly large gap between average earnings growth and the level of inflation. What this essentially means is that whilst the cost of goods and services is rising fairly rapidly, people’s wages are not growing at the same pace so should this gap continue it will start to damage the economy. It also means that the Bank Of England are less likely to consider raising interest rates, which in turn would be seen as a negative for the Pound.
We have seen a positive start to the week so far, climbing against most major currencies as there appears to be a fairly good vibe around how things are progressing with brexit talks and potential trade deals. So far the economy has not taken as much of a downturn as expected and as a result of that the Pound has started 2018 on the front foot.
If you have a currency exchange to carry out in the coming days, weeks or months ahead then it would be prudent to make sure you really are getting the best price. I have been working for the same brokerage for just over ten years now and we pride ourselves both on getting clients the most for their money along with a high level of customer service.
Should you wish to get a quote from me, or to discuss a pending transaction you are due to carry out then feel free to contact me (Daniel Wright) personally and I will be happy to explain how our service works and to give you my opinion on how to approach your personal situation. You can email me on email@example.com and I will get back in touch as soon as I can.