Well we do indeed have a lot to cram in this week before a long weekend and what may even be a white Easter here in the U.K the way things are going.
After last weeks pasty and petrol combo that grabbed the headlines, this week should bring a slightly more interesting and relevant amount of news as there is a lot of economic data out accross the globe.
Today – GBP EUR AUD
Already this morning we have seen manufacturing data for Germany come out worse than expected and for the U.K data has indeed been better than expected, leading to another good start to the week for the Pound against most major curencies.
Shortly we will see the release of the European unemployment figures at 10:00am and i’m fairly sure that this won’t be news to celebrate for the Euro once again.
Overnight we see the Reserve Bank of Australia release their interest decision and it has been suspected a rate cut could be in order some time soon over there, should we see this then you may find the AUD weaken once again (an interest rate cut is generally seen as negative for the currency concerned as it makes it less attractive to investors). Should you have a transfer either buying or selling AUD then a limit or stop loss order may be sensible to protect yourself overnight, email me email@example.com for more details on this option.
Tuesday – GBP EUR
European GDP figures are out tomorrow morning and contraction is on the cards, this may again lead to Euro weakness in early morning trading however be aware that this is expected and the markets do move on expecatations as well as facts so if this release isn’t as bad as expected the Euro may pull some ground back.
Wednesday GBP EUR AUD
Australia release trade balance figures very early on Wednesday morning, this is a measure of imports and exports and should show us just how well Australia is still riding the Chinese wave.
For Euro followers the ECB (European Central Bank) interest rate decision is out followed by a press conference in mid afternoon. Quite often the rate decision doesn’t throw too much into the mix however the press conference follwing it genrerally leads to Euro volatility depending on what head of the ECB Mario Draghi has to say about how he plans to tackle the current crisis.
Thursday – GBP CHF CAD USD
Before trading lines open those with an interest in the Swiss Franc may see some movement as CPI (Consumer Price Index) is released, this is inflationary data however I highly doubt it is going to move the marjkets too much, the GBP-CHF rate has been fairly static to say the least of late as investors wait and see just what the Swiss National Bank will pull out of their locker next.
Industrial and Manufacturing production is next on Thursday morning for the U.K and following a fairly positive release this morning I would not be surprised to see this lead to a minor spike again for the Pound.
Heads turn to Canada at 11:00am as the Canadian unemployment rate is released, expectations are for it to stay at 7.4% (much better than the 23% in Spain however) any change to expectations could lead to a volatile end to the week for the Pound.
The USD finally gets a go on Thursday lunchtime at the end of what is quite a quiet week for the Dollar as jobless Claims data is out (similar to unemployment and may give an indication to how Non Farm Payrolls will come out next)
Finally to round off the week the NIESR (National Institute of Economic and Social Research) release their GDP estimate for the U.K – GDP is in no doubt in my mind going to be the big talking point this month (If figures from quarter 1 for the U.K are negative we are back in a recession officially) and they are expected to predict a growth of 0.1% – Any change to this could lead to a mad end to the week and the it is going to be so tight as to whether the official figure at the end of the month is positive or negative that the Pound will no doubt be extremely jittery this month.
I personally feel the Pound may have another positive week, if you have an upcoming transaction to make either this week or in the coming months then feel free to contact me directly by emailing me firstname.lastname@example.org – The company I work for have won numerous awards for both exchange rates and customer service and if you find my site here a valuable read then having me as your personal broker should come in extremely handy too. I look forward to speaking with you.