Pound forecast for the week ahead – Economic data due out this week

GBP EUR Exchange Rate: The Week Ahead October 31st

There are a number of data releases of note this week so I thought I would outline the highlights below.

Overnight tonight we will have the release of BRC like for like Retail sales data which will show how the retail sector performed in March. With the poor weather we had in the U.K throughout March expectations are for a lot of the data from March to be a little weaker than usual.

Tomorrow afternoon we have the NIESR (National Institute of Social and Economic Research) and this report is essentially a prediction on how the U.K economy performed in March and is rarely too wide of the official mark.

Wednesday morning is important as at 09:30am we have industrial and manufacturing production figures, coupled with Trade balance all at the same time.

Later in the week we have less economic data out for the U.K but that does not mean that sterling exchange rates will remain flat as the week nears an end. There are constant data releases and pieces of political news out from around the globe and all of these can have an impact on the value of the Pound.

So far there does appear to be a little more confidence building behind the Pound and investors and speculators alike to appear to be backing Sterling, increasing demand and leading the Sterling gaining ground against most major currencies.

In my opinion I still feel that Sterling is in for a good period of strength, the only thing that could hold it back is political uncertainty or a Brexit banana skin, at any point either could flare up but if they do not then it would not be a great surprise to see Sterling continue to get slightly stronger.

If you have a large currency exchange to make involving buying foreign currency with the Pound or selling foreign currency back and buying Pounds then it is well worth you contacting me directly. You can get in touch with me by emailing me (Daniel Wright) directly on [email protected] and I will be more than happy to contact you personally to see how I can help you. We offer highly competitive exchange rates along with help on timing your transaction and would like to think our customer service is way above and beyond elsewhere. I look forward to speaking with you.