Towards the close of play tomorrow Governor of the Bank of England Mark Carney will address the public and talk about the UK economy. Recently the Bank of England have hinted towards raising interest rates in March which has given the pound a boost against the Swiss franc.
Further hints towards a hike should help the pound, however with the recent positive run, I expect the governor to remain neutral and the pound to finish the week at current levels.
In other news the US will release their latest Non-Farm Payroll numbers, unemployment rates and average earnings. Non Farm is expected to be released just short of 200k which is an ok figure. It’s the unemployment numbers coupled with the average earnings which could provide major market movement tomorrow.
The US are expecting unemployment to fall to 4.0%, which is a record low and average earnings to rise. This is good news for the US economy and entices the Federal Reserve to raise interest rates further, therefore I expect the sell offs we have seen due to the trade wars to evaporate and the safe haven Swiss franc could lose value as investors flock to the US.
The currency company I work for enables me to buy and sell CHF at rates better than other brokerages and high street banks. If you are buying or selling euros this year feel free to send me the currency pair you are trading (CHFUSD, CHFGBP, CHFEUR) the reason for your trade (company invoice, buying a property) and I will email you with my forecast for the currency pair [email protected]. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn