The Brexit vote has cause the pound to drop substantially in value against the majority of currencies. There have been little data releases that have actually showed the true impact on the UK economy. This is due to the majority of data releases have been for per-brexit, June. If these figures have not been bad enough I fear worse is yet to come. tomorrow at 09.30am we will see the release of Consumer Price Index (CPI) figures. CPI is a measure of inflation and is a key barometer as to the health of an economy. I expect them to be below par, the figures are the first CPI figures post-brexit and they could contribute to a drop in Sterling value. Thursday at 0.930am sees the release of Retail Sales data and again I expect a contraction. This will be followed by Eurozone CPI at 10.00am which I think will show a drop and may be one of the rare occasions for the pound to strengthen, however the damage may have already been done by UK retail sales figures. If have a Euro requirement it may be wise to move sooner rather than later.
If you have a currency requirement it is vital to be in touch with an experienced broker. The timing of your trade is key during such a volatile times, If you have a veteran broker on board he can keep you up to date with what is happening in the market to help you make an informed decision. If you would like me to help with your trade I will be happy to help. If you inform me of the the currency pair you are trading, volume and time scale and I will provide a free trading strategy to suit your needs. I work for one of the top brokerages in the country and as such I am in a position to beat nearly every competitors rate of exchange. You would be looking at around a 4% saving in comparison to high street banks. Please do get in touch by contacting me at firstname.lastname@example.org. Thank you for reading my blog. The quickest method to get in touch is by filling in the form below and we will be in touch ASAP.
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