Economic data releases can cause short terms trends in the currency markets or even shift expectations and result in long term movements for currency pairs.
If you have an upcoming transfer to make, keeping an eye on economic data releases for the countries relevant to your currency pair, can help you to take advantage of spikes in exchange rates.
The key data out for the pound today was UK Purchasing Mangers Index data, which was slightly better than expected. Tomorrow look out for Purchasing Mangers Index for the services sector. As the service sector is so vital to the UK economy, this release could be essential for sterling.
if you would like some specific information in relation to your currency pair, fill in the form o the right and you can speak to a currency specialist. You can also email me directly [email protected].