Once again i'm sure we are in for a turbulent week ahead on the currency markets with most notably some revised GDP figures due out for the U.K on Wednesday.
The next few days important releases are as follows:
Today
13:00pm - ECB Trichet speaks - Head of the European Central Bank Jean Claude Trichet speaks today at 13:00pm and investors will be listening in on any hints given regarding future economic policies, as the markets move on rumour as well as fact this could lead to Euro volatility.
Later in the afternoon there are a couple of releases being retail sales (excluding Autos) for Canada at 13:30pm and New home sales for the U.S at 15:00pm. These could lead to CAD and USD movements if they come out differant than analysts have predicted.
Tuesday
Tuesday looks like a busy day with consistant important releases coming out throughout the day.
07:00am One for the early birds on Tuesday as germany release their GDP figures (Gross Domestic Product) for the last quarter. Expected is growth of 0.7% which considering the last release for the U.K was -0.4% just goes to show that the Germans are a mile ahead of us in this recession.
This may be due to a number of factors, firstly we rely heavily on the financial sector these days and that quite clearly has been hit extremely hard, we also have a tendancy to "get on the housing ladder" as soon as possible over here whereby people are more likely to rent for years and years in Europe.... with all the mortgage problems and people losing their houses it seriously does not help our situation.
The manufacturing sector in germany is also picking up rapidly and they seemingly downed tools at the right time and completely halted manufacturing when things slowed down only to pick up on them again potentially just at the right time.
Expect Euro/Pound movements should the GDP come out any differant than the 0.7% expected.
At 09:00 we see Swiss unemployment data released so the CHF may well move off the back of this and then the U.K release mortgage approvals at 09:30am - A key indicator as to how the housing market in the U.K is fairing and this can have a large impact on the value of Sterling.
At 13:30pm the U.S takes it's turn and releases their revised GDP figures in what is a huge day for the Dollar.... not only do they release GDP but on top of this we see Consumer confidence and housing price data at 15:00pm followed by the FOMC minutes from the previous interest rate decision at 19:00pm - this could lead to large movements so if you do have an upcoming USD transaction whether it be buying or sellnig it is imperative you are in close contact with someone that can inform you of what is hapening throughout the day.
Wednesday
German Inflation data is released in the first seconds of Wednesday at 00:00am and also in the late night activity the RBNZ (Reserve Bank of New Zealand) release their inflation expectations so expect NZD movements off the back of this at 03:00am.
German consumer confidence comes out early at 07:00am and then we see the U.K GDP data as mentioned previously in the report due at 09:30am.
A further flurry of U.S data due out at 13:30pm and 15:00pm with personal consumption and incomes followed by new home sales - expect further Dollar volatility.
Finally on a dta filled start to the week the Japanese Monetary policy meeting is at 23:50pm so keep a close eye on the Yen.
In short - a seriously volatile start to the week ahead and with so many releases due out it is really hard to see where things are going - especially with the Dollar!
I personally thing that Sterling will have a reasonable start to the week and make gains off the back of data previously mentioned in this post and that the Dollar will fair pretty well as well, due to data from the U.S generally being quite good of late.
Do feel free to contact me should you wish to discuss any upcomnig transfers you may have.
THIS IS A BRIEF SUMMARY OF TODAY'S REPORT - SHOULD YOU REQUIRE FURTHER INFORMATION PLEASE DO NOT HESITATE TO CONTACT ME EITHER BY EMAILING HERE Email Me - OR CLICKING ON THE BANNER BELOW TO SEE TODAY'S FULL REPORT 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
No comments:
Post a Comment