Minor gains in yesterday's trading by COB - Volatile day expected with unemployment data due for U.K - GBP EUR AUD NZD USD Forecast

Sterling finished the day slightly up against a basket of major currencies which looks like was down to profit taking by investors following a drop in the morning after inflation figures coming out for the U.K at a 5 year low.

This short spike however has quickly been erased this morning and really does show the importance of keeping in close contact with an experienced trader should you have upcoming requirements as they can watch the markets for you so that you don't have to.

Just catching the spike at the right time yesterday could have saved over £700 Pounds from the lower point in the morning on a €100,000 purchase with Sterling.

Today looks to be volatile for Sterling once again with a host of unemployment data due out at 09:30am this morning. This data includes The Claimant count, unemployment rate and jobless claims data.

As i'm sure many of you are aware unemployment in the U.K has been steadily rising and it is once again expected to get higher... further bad news for the U.K and indeed for Sterling, this is not one of the releases that I expect to come out majorly better than expected thats for sure.

Across the pond later on we also see some important releases with the main ones being Import Price index and retail sales data at 13:30pm and the Federal Reserve minutes at 19:00pm. The first two cover their import prices and how much consumers have been spending over the past month over there.

The minutes may throw up anything as it will be a release of the minutes from the last interest rate decision and may include some key economic strategies to be used by the Fed in the near future, these may be taken as positive or negative for the Dollar.

This is a brief summary of todays report, should you wish to make a currency enquiry click this banner and remember to ask for DANIEL WRIGHT quoting CURRENCY INFORMATION to ensure you are put through to the author of this blog Email Me
I will ensure I get back to you as soon as possible to discuss the options available to you. Click here to read the full report on our main website

If you have the need to send money overseas or bring money into the U.K and want the best exchange rates and a great service just click on the links below to go straight to our main site and click on the register now button to open a free no obligation trading facility quoting DANIEL WRIGHT as your point of contact.

Have a great day and thanks for reading!

Daniel Wright