For those of you that have been following the markets lately you will be well aware that Sterling has remained fairly flat and has remained in a tight range against most major currencies. In fact, last week was the least volatile week for Sterling exchange rates we have witnessed since February 2016.
Although this is frustrating for those of you waiting for that market spike in your favour, at least the rate has not moved against you too much, which could easily have happened with ongoing Brexit talks, political tensions and lots of economic data.
The rest of the week is fairly quiet for U.K economic data but do be wary that there are many releases from around the globe and various other factors that could still have quite an impact before the end of this week.
EU Summit and lots of market data out next week
Next week brings the widely anticipated EU summit, where the Brexit transition period will be one of the main matters on the agenda. I would expect various comments and releases throughout the summit and even the slightest hint of progress or issues could lead to Sterling either gaining or losing value very quickly depending on how it is taken by the markets.
So far we have not seen any major hiccups from Brexit negotiations but it does still remain a potential banana skin for Sterling exchange rates, equally good news would more than likely give Sterling a boost. The summit is held on March 22nd and 23rd (next Thursday and Friday) so be wary of not only these dates but each working day from here forward as you do tend to see the markets move in advance of events like this as investors and speculators alike try to second guess the outcome.
We also have U.K inflation data on Tuesday, unemployment and average earnings figures on Wednesday, Retail Sales and the Bank of England interest rate decision on Thursday.
All in all this presents the potential for an extremely volatile week of trading next week, if rates are at an affordable level at present it may make sense to consider either some or all of your pending requirements unless you like to take a gamble, if you are in the position where you can afford to roll the dice and take the risk next week then just be prepared to move fast and make sure you make us aware of your needs so that your dedicated point of contact can call you if an opportunity arises or should the market move against you.
Feel free to get in touch with me (Daniel Wright) directly by emailing me on email@example.com and I will be more than happy to contact you personally with a live currency exchange quote and to help you tailor a game plan for how to approach your pending exchange.