Sterling has come under pressure once again vs both the Euro and the US Dollar as political uncertainty continues to cause problems for the UK and therefore Sterling.
However, in the short term the focus will turn to what is happening with economic data both in the UK and the Eurozone. We begin this morning with the latest estimate of Eurozone GDP data for the final quarter of 2017.
The expectation for year on year growth is 2.7% and quarter on quarter for 0.6% so anything different is likely to cause a lot of volatility for the Euro later on this morning so make sure you keep a close eye out on the release.
Tomorrow brings with it the latest European Central Bank’s interest rate decision and although interest rates are not likely to be changed anytime soon the ECB may discuss their plans going forward for Quantitative Easing.
The current monthly spend is €30bn and any suggestions that this may be coming to a close could see the Euro strengthen further against the Pound so again this could cause a lot of movement for GBPEUR exchange rates.
At the end of the week the UK releases its latest Industrial and Manufacturing data for January as well as Trade Balance data. We also have the release of Consumer Inflation Expectations on Friday morning at 930am so we could be in for a busy end to the week for the Pound.
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