So after a fairly quiet week on the markets I thought I would round up what we have left to look out for that may impact Sterling exchange rates.
For anyone with an interest in Euros, tomorrow morning may be the most important remaining data of the week as we see European inflation data out at 10:00am. Expectations are for a minor drop year on year which may lead to a little Euro weakness in morning trading tomorrow.
For anyone with an interest in Sterling exchange rates against any major currency it is well worth noting that Governor of the Bank of England Mark Carney is due to speak outside of hours at 8pm and any hints on future economic policy may lead to the Pound moving around a lot overnight.
Also overnight for anyone that is looking to exchange Australian Dollars you should be aware that we have Chinese manufacturing data out late at night which will no doubt impact where the Australian Dollar kick starts the day on Friday morning.
When there are big overnight releases such as these it is important to know there is a contract option available known as a limit order. A limit order is a market tool which is completely free and means that you can set a target rate that remains in place 24 hours a day unless you say otherwise and if it becomes achievable then our smart computer systems will buy the position for you. These orders can be canceled or amended at any time should they have been triggered and are really handy if there is a rate you are looking for that is within reach but not quite there yet. For more information on these handy market orders or to get a quote on a currency exchange please do feel free to contact me(Daniel Wright) by emailing firstname.lastname@example.org and I will be happy to contact you personally.
Finally on Friday we have Non-Farm Payroll data at 13:30pm which is a data release important for those with a Dollar interest and indeed interest in the ‘riskier’ currencies such as the AUD, NZD and ZAR. Non-Farm Payroll data is essentially the number of people in Non-agricultural employment over in the States and is a key indication as to how their economy is performing.
This release can cause quite a lot of volatility because predictions are made in advance and these can be wildly out. The market moves on rumours and predictions as well as fact, and should the figure come out quite a way from initial predictions the market does correct itself rather swiftly.The reason this effects the AUD, NZD and ZAR and pretty much most majors is because as I am sure you can imagine it will affect attitude to risk and will lead to rapid movements of large amounts of money globally in what generally presents an interesting week to say the least without any surprises popping up during the course of it.
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