The Pound is edging up this morning, and notably hit a 10-month high yesterday against the US Dollar as yesterday morning there was some impressive Manufacturing data released.
Although much of the build up within financial media surrounds tomorrow as there is a high volume of data out of the UK, the positive sentiment surrounding the Pound could continue this morning as at 9.30am there will be the release of the Construction equivalent of yesterdays Manufacturing data (Purchasing Managers Index).
Purchasing Managers Index (PMI) data reflects sentiment from within the respective sector, so I expect a rise in the Pounds value if this data comes out better than expected. Tomorrow it will be PMI data at 9.30am for the important Services sector that will get the ball rolling in terms of data releases before the Interest Rate Decision is released along with a speech from the Bank of England’s governor, Mark Carney.
If you’re researching and planning an upcoming currency exchange and would like to discuss it, do feel free to get in touch with me as planning around this weeks key data releases may be a good idea.
Tomorrow lunchtime is expected to be particularly busy and I’ll be happy to discuss the main releases and expected outcomes.
If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on email@example.com and I will endeavour to get back to you as soon as I can.