There is a host of economic data for the UK this week which could potentially create some movement up from the year low visited at the end of last week. It starts slow with little due on Monday, Tuesday we have the head of the Bank of England speaking and expected to show more information about future policy of the Bank. Wednesday will probably be the busiest day for the pound with; Bank of England Minutes, Unemployment Figures and the UK BUDGET all released. These could easily swing the market giving traders the opportunity to save thousands on their transfer if timed well.
If you have a currency transfer to make you really need to be available to move quickly on Wednesday or put tools in place to limit your exposure. Wednesday could result in the GBPEUR pairing moving by as much as 2 cents adding over €4,000 on a £200,000 transfer within minutes. Here we will be working flat out and giving our clients SPIKE NOTIFICATIONS and RATE ALERTS to help them time their trade. If either of these are of interest make sure to get in contact within the next 36 hours before the big day.
Eastern Europe is also having an impact on the markets, movement in the currency market has been down as the normal trading levels have dropped. The theory being that the amount of money being speculated on the currency market is down as some speculation in stocks like oil, gas and wheat increase. Any developments in Ukraine could easily bring these levels of speculation back with a movement in rates being the result.
For more information on any of the above or to talk through how we could help you in your situation feel free to contact myself, STEVE EAKINS, via email at [email protected] or by calling +0044 (0) 1494 787 478