Tuesday has great potential to be an extremely volatile day for the Pound against a number of major currencies, starting off overnight with Chinese and Australian data due out in a few hours which will no doubt have an impact on the Australian Dollar.
The AUD has been sitting around the 2 mark for over a week now and data over the next 24-48 hours may finally be enough to push it through by more than the half a cent it has only been able to manage during its latest test of the resistance surrounding 2 it has met.
On Tuesday early morning we have Swiss unemployment rates released at 06:45am and any change to last months figure of 3.3% may have impact on the Swiss Franc. Inflation figures for Switzerland follow shortly after this at 08:15am.
The U.K takes center stage next as we have trade balance figures at 09:30am and and inflation report hearing at 10:00am. The inflation report can sometimes have quite an impact on rates and I am sure that this occasion will not let us down. Personally I feel we may see comments on last months negative figure and the fact that the early Easter break may have led to this, obviously anything may happen but I feel Sterling may rise after this report.
Those with Euros to buy may not have much of a chance as European GDP (Gross Domestic Product) figures are also out at the same time and expectations are for 1% growth Year on year and 0.4% for the Quarter. Any release that differs to this could give the Euro a volatile morning.
We must not forget the on-going Greek saga either as there is still the chance that news regarding Greece may come out at any moment and depending on what it is may really move Euros exchange rates quite substantially.
If you have a currency exchange to carry out involving buying or selling either the Australian Dollar, Swiss Franc, Euro or Dollar and you want the very best rates of exchange, along with being kept up to date with market information then feel free to contact me (Daniel Wright) by emailing me personally on [email protected]