Economic data out this week to impact your currency exchange (Daniel Wright)
First and foremost a Happy New Year to all of our regular readers along with those visiting the site for the first time!
We have had a slow start to the year for Sterling exchange rates, very much like the past few weeks where the Pound has dropped off a little against most majors but there is plenty for the market to get its teeth into this week that may turn that trend around.
Tomorrow morning we have PMI Construction data for the U.K for December, and with the weather in December being considerably better than that of last year I would not be surprised to see a slight improvement year on year.
Later tomorrow evening we also have the Federal Reserve meeting minutes from their last interest rate decision. This can impact all major currencies as any comments on future interest rate changes may lead to a great deal of money moving around the world.
on Thursday morning we have Markit services PMI for the U.K in December. With the services sector being responsible for a large part of the growth figures in the U.K this can also be extremely important and expectations are for a slight drop off from the previous month, however I would not be surprised to see something a little more favourable in what may be a good week for Sterling exchange rates.
Finally on Friday we have another fairly bit data release over in the U.S in the form of Non-Farm Payroll data. Non-Farm data is the number of people in Non-agricultural employment (due to this being seasonal) and can have a huge impact on global attitude to risk.
Predictions for this data release can be way out so the market may price in one result yet the release can be quite a bit different so if you have the requirement to move any currency anywhere in the world then it is worth keeping your eye on the market at 13:30pm on Friday afternoon.
Here at Pound Sterling Forecast we do not only pride ourselves on providing regular and non-biased market information but we all work for one of the top foreign exchange brokerages in the U.K too.
If you have a currency requirement either now or in the coming months and you would like to maximise your exchange rate then we can also help with that too.
Feel free to contact me personally with brief description of what you are looking to do and I will be more than happy to get in touch with you. We deal with bank to bank exchanges ranging from smaller sums up to multi-million Pound transactions, unfortunately we cannot assist with travel money.
All you need to do is email me (Daniel Wright) on email@example.com and I will be more than happy to get in touch with you at the earliest possibility.