Wednesday, 11 November 2009

Due to buy or sell EUR USD AUD NZD SEK ZAR CHF or one of many other major currencies? Volatile day ahead for Sterling unemployment and inflation data

The Pound faces a rocky day on the currency markets as a flurry of important data is due to be released this morning, starting off at 09:30 where we see some unemployment data followed by the Bank of England quarterly inflation report and Mervyn King (Governor of the BOE)speaking at 10:30am.

Both should bring volatility - the unemployment could cause movements dependant on whether or not it comes out better or worse than expected and indications on how the BOE plan to battle the economic and inflationary situation over here should lead to movements one way or another.

My personal opinion is that we may see some weakness today, unemployment is a coin toss as to which way things will pan out but I believe it may be slightly worse than expected and Mr King is notorious throughout 2009 for talking the Pound down - my opinion is that Sterling - Euro may finish up the day in the 1.10s however I could easily be wrong and eating my words in 15 minutes time!!

Should you wish to discuss an upcoming transfer no matter how big or small with me personally do feel free to contact me either by emailing djw@currencies.co.uk or calling my direct line 01494 787462 for a friendly and impartial information on how to achieve a great exchange rate.

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Have a great day and thanks for reading!

Daniel Wright

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