Sterling has started off the week losing ground against every major currency apart from the Japanese Yen in early morning trading, and a busy week ahead is expected.
This week we see interest rate decisions for three of the major economies with Australia at 4.30am tommorow alongside decisions for the U.K and Eurozone at 12:00 and 12:45 respectively.
Interest rate decisions can be big market movers and should Australia decide to hike rates we could see even further strength for the Australian Dollar against most major currencies.
No interest rate changes are expected for the U.K or Europe however announcements on economic tactics and potentially quantitative easing may be made - make sure you are wary should you have a transfer to make from Sterling to another currency and the mention of further QE could lead to Sterling weakness.
Other big releases for the U.K involve GDP estimate out tommorow night Gross Domestic Product data is an indication as to whether or not the economy has grown or shran in the last quarter so can also be a big market mover. There is also a flurry of manufacturing data due out tommorow morning.
This is a brief summary of todays report, should you wish to make a currency enquiry Email Me
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Have a great day and thanks for reading!
Daniel Wright
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