The week started off with fairly flat Sterling exchange rates, with Sterling movements mainly down to Brexit sentiment rather than economic data.
Although the market is still firmly focused on Brexit news, we have plenty of economic data out next week for the U.K that will impact the Pound.
On Tuesday morning we have inflation data at 09:30am, which will be key for the Bank of England and may be the deciding factor for any interest rate change in November should it remain high.
On Wednesday we have unemployment figures along with average earnings too, this will also have an impact on the Bank of England’s decision should average earnings have dropped off then they may have to rethink raising interest rates as it may cause problems.
Thursday we have the release of Retails Sales sand there will also be a focus on these figures and on how the U.K retail sector performed during September.
As all readers are more than likely aware, this market is a strange one and still extremely politically driven, so do be wary of any movements regarding Brexit talks that may also impact the Pound at any time. I have been working on this trading floor alone for ten years now and being totally honest it is extremely hard to know what is coming next. The slightest hint of positive progression may lead to a spike in the value of the Pound yet any negativity or bickering between the Government could lead to a rapid drop off.
If you have a pending currency exchange to carry out in the coming days, weeks or months then it would be prudent to get in touch with me directly no matter who you were planning to use. I have had thousands of people contact me through this blog over the years that had planned to use their bank or their current broker and the vast majority have ended up using our company instead due to better exchange rates and a smooth and efficient customer service.
If you would like to get a free, no obligation quote to compare against what you are currently being offered then you can email me (Daniel Wright) on email@example.com with a brief description of your needs and I will be more than happy to contact you personally.