The Pound Sterling is set for a quiet day on the data front however as many of you will know this does not mean that Sterling exchange rates will stay stable as there are a number of other factors that could affect levels.
The four factors that affect the strength of a currency are economic stability, political certainty, acts of terror and acts of god so there are always surprises popping up on the markets.
Couple this with the fact that there is data due to be released for numerous other currencies with the key data being for the Dollar today and these releases will also have an effect on how many Dollars you can buy for your Great British Pounds!
Inflationary data and retail sales data from accross the pond is released over lunchtime and later on this evening the Federal Reserve also have the beige book – an overview of American economic activity and policies previously and going forward.
Overnight the U.K Consumer Confidence is released at 00:01am so if you have upcoming requirements you need to be sharp and in a position to act quickly in order to maximise your return.
To ensure you are in the best position to do this, you should consider setting up a free no obligation trading facility with me at the company I work for – Foreign Currency Direct, I can then be a second pair of eyes on the market for you and although I cannot advise I can give you updates and my personal opinion based on market knowledge.
For further information fill in the contact form on the right hand side of this page and I will personally give you a call to discuss the options available to you.
Have a great day! – Daniel Wright