Sterling exchange rates have started the week with a slight lift against most majors but we have plenty more for the market to feed off of as the week progresses.
Tomorrow morning we have Public Sector Net Borrowing figures at 09:30am, this will show the amount of new debt held by the Goverment, an increase is seen as negative and a drop off is generally seen as negative, expectations are for a slight rise but I do not expect this to cause any major movements unless there is a big surprise.
Later on in the morning we have the Bank of England inflation hearings, inflation was a key factor in the Bank of England’s decision to raise interest rates recently, and any comments in this report that point to any future changes may lead to a volatile period for the Pound from 10:00am onwards. This release has been in the economic calendar on a number of occasions recently and then been delayed, so it is not set in stone that it will come out in the morning.
Wednesday brings the budget, many clients of mine assume that this can be a big market mover, but to be honest quite often, unless there are any major surprises announced it does not lead to huge volatility. This one may be slightly different, with Brexit in the air and a slightly shaky PM you cannot rule out any surprise announcements, if you have a large currency exchange to carry out involving the Pound then it may be worth keeping a keen eye on the markets throughout Wednesday morning.
Thursday brings growth figures for the third quarter of 2017 at 09:30am. This is merely a revision of the initial release last month, and with no change to the 0.4% expected then I do not see Thursday being too choppy, unless there is a fall out from a particularly mad Wednesday!
Friday is fairly quiet for economic data in the U.K, but with so much going on politically at present it is almost impossible to see just what may happen next to Sterling exchange rates. News in Germany over the weekend that the coalition negotiations had fallen through has led to Euro weakness against all major currencies, giving those buying Euros with Sterling a great opportunity today.
If you are in the position where you need to carry out a large currency exchange involving buying or selling the Pound then this is a market where you need an expert on your side, helping you every step of the way and informing you of market movements as soon as they happen. If you would like assistance, both in terms of the timing of your transfer and ensuring that you get the best rate of exchange when you come to book it out then I can help you personally.
You can email me (Daniel Wright) the creator of this site over 7 years ago on email@example.com with a brief description of your needs and I will be happy to get in touch with you personally.