Sterling report – The week ahead, data you need to know about

Tomorrow morning 05:30am – Australian Interest Rate Decision: A big one for those with an interest in buying or sellnig Australian Dollars, no change in interest rates is expected however they have been known to come out and surprise us, the general feeling is we may see if anything at all a minor cut in rates, which would be great news fopr those buying the AUD however by no means is this a certainty, merely a punt.

Wednesday early morning 02:30am – Australian GDP Figures: Once again important figures for Australia in what is lined up to be a busy week for the AUD – GDP figures cover how much the Australian economy grew or shrunk over a specific period of time and could be key should we see any change to predictions. This is another coming out overnight so do not leave yourself open to market fluctuations…. you can place a limit or stop order to protect yourself from market movements, or even take advantage of movements should they go the right way. I have these tools available, email me [email protected] and I will be happy to assist you and explain how these work.

Wednesday Afternoon 14:00pm – Canadian Interest Rate decision: Again no change to rates are expected but be aware that Central Banks have been known to surprise. Canada had poor GDP figures last week and this might lead them to also make economic announcements which could lead to volatility on this currency.

Wednesday Afternoon ??pm – NIESR GDP Estimate (U.K) – The NIESR (National Institute of Economic and Social Research) is quite highly regarded as a fairly accurate prediction for the U.K GDP figures ahead. They are a think tank built up of business leaders and rarely get it too wrong, this release can generally move the market quite a bit and doesn’t always come out at a specific time so be  wary all week that this bombshell could come out at any moment!

Wednesday 19:00pm – Federal Reserve Beige Book (U.S) – This is purely an economic release of plans going forward for the States on battling their economic conditions and any mention of Quantitative Easing is likely to weaken the Dollar. QE is where a central bank essentially prints more money and pumps it into the economy, this can weaken the currency as more of it is in circulation and further down the line it can really  push up inflation, a major case study of this is Zimbabwe where you need a wheelbarrow full of money to buy a loaf of bread these days – not good!

Thursday Afternoon 12:00 & 12:45 – Bank of England and European Central Bank Interest rate decisions – We all know that it is highly unlikely to see a change in the U.K interest rates however all eyes will be on any comments made surrounding the U.K economy and any mere mention of QE (Quantitative Easing) The Europeans however have raised rates twice this year so albeit a tiny one there is a chance they could do this again which would increase the value  of the Euro and potentially take the spotlight off of the debt crisis spreading like wildfire within Europe.

Friday sees some inflationary data for the U.K along with Trade Balance figures, much will change before then though so come back tio the site for more information nearer the time.

If you have an upcoming transfer to make feel free to contact me directly on [email protected] – I can potentially save you £1000s on any transactions be it buying or selling foreign currency, along with offering a fantastic level of customer service. I look forward to hearing from you soon.