Blog Off

The Blog will be quiet for a week or two while I take a short holiday.

My Twitter feed will continue to be updated with live exchange rates.

If you wish to discuss how we can help you get the best exchange rates, click here to send through an enquiry and one of my colleagues will contact you to discuss.

I'll be back in action on the 7th of September.












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Pound/Euro exchange rate forecast

Tuesday 28th August 2012
Good morning. Today I'll take my usual retrospective view on what caused the Pound/Euro rates to drop away, and the events in the coming weeks that will dictate the direction of exchange rates and the Pound Sterling forecast in the coming months.

In this week’s Report:

• Pound/Euro rates decline as ECB poised to take action
• UK Economy didn’t shrink as much as thought
• Pound/Dollar rates hit 3 month high on QE threat
• Round up of the week’s other data that may affect rates

Sterling vs. Euro;

Last week we saw the single currency strengthen significantly, causing the pound euro rate to drop away. Trading opened Monday morning around the 1.2760 mark and steadily dropped throughout the week closing on Friday afternoon around 1.2630 as the graph below shows. In this week’s report we will look at the causes as to why the Euro has reached a two week high against Sterling, and what the coming weeks and months may have in store for the GBP/EUR rate.













Last week’s trading opened with sterling holding firm in the mid 1.27’s, relatively close to the best rates in 4 years. As is often the case though, spikes such as this are usually short lived. The great exchange rates didn’t last long, as expectation grew within the markets that the ECB will take action to ease Spanish and Italian borrowing costs.

The renewed expectations of some progress on the debt crisis saw investors pre-empting the ECB’s next move, and resulted in investors moving their funds from the safe haven of the Greenback and back into the single currency, giving it strength and pulling the exchange rate down. The possibility of ECB action came in tandem with the news that public net borrowing in the UK has increased unexpectedly, in a time where the UK government is continuing to make cuts, weakening the Pound.

It's not all bad news!

There was some good news for the UK however on Friday, when figures showed that the UK economy shrank by less than previously thought between April and June. Revised data from the Office for National Statistics (ONS) show the economy contracted by 0.5% during the quarter, less than the 0.7% it announced last month. It didn’t have much of an effect on rates however, as many economists had expected the figures to show a smaller contraction and so for the most part, this was already priced in to rates, and was overshadowed by events in the Eurozone.

So what next for the Euro?

After a summer lull, the euro zone faces two months that will go a long way to dictate whether its debt crisis, now into a third year, will spiral out of control or finally be contained. The ECB appear to have temporarily stopped the rot and are now looking towards fast effective austerity measures.

In the next few weeks, we will see ECB inspectors travel to Athens to assess its debt cutting targets. There is also an ECB meeting where Mario Draghi will try to garner support for the Central Banks plan to bail out struggling economies, the ECOFIN meeting in Cyprus will see EU finance ministers thrash out plans to help Spain and Italy, and Spain will conduct an audit of its banks to see how much of the available bailout funds it will need. So, the future of the GBP/EUR rate hinges on what results from the above events.

What you can do if you need to buy or sell Euros.

With so much uncertainty over what will happen in the EU, the exchange rate could move significantly in either direction in the coming weeks. Due to this, many clients are choosing to remove any risk from the market and lock into a Forward Contract. This enables you to fix today’s exchange rates for up to 2 years into the future, allowing you to budget effectively, protecting against adverse exchange rate movements, and most of all give you peace of mind in a volatile and confusing market.

To discuss this and other options available to you, contact me now.

Weekly Economic Data that may affect exchange rates

Monday – UK Markets were closed for Bank Holiday, but there were some numbers from Germany showing Import Prices and Business Climate expectations. In a quiet market the figures had little effect on exchange rates.

Tuesday – UK Markets reopen but there are no data releases of note. In the Eurozone we will see German Retail Sales and Consumer Confidence, in Spain the latest GDP numbers are released. In the United States we will see Consumer Confidence and a Manufacturing Survey.

Wednesday – Relatively busy today. In the Eurozone we’ll see German Inflation Data, Italian Retail Sales and Consumer Confidence, Greek Inflation numbers and French Business Climate assessment. In the USA the Fed’s Beige Book looks at the current economic satiation, in addition to GDP numbers released at 13:30pm.

Thursday – In the UK today we have Mortgage Approvals, measures of Consumer Credit and Consumer confidence numbers. In the Eurozone we see German Employment figures, Consumer Confidence numbers from Spain and the whole EU, and EU wide measures of Consumer Confidence, Industrial Confidence and Economic sentiment. Stateside sees Jobless Claims.

Friday – A quiet end to the week. Spanish and Greek Retail Sales, Italian Unemployment and inflation numbers, EU Consumer Price Index. In the USA we have a Speech by the FED chairman and a measure of consumer sentiment.

Getting the best exchange rates

You want the best exchange rates, of course you do. That's why you're reading this blog to try and gauge your timing. Take the next step and send us a free enquiry and have a consultation on all the options available to you.

It's free, it doesn't obligate you, and you may be surprised how much you can save by using us to get exchange rates that are up to 5% better than offered by banks. Click below to send your free enquiry now, and get a response the same day.

Click here to send me a free enquiry

Why have Pound/Euro rates fallen?

Wednesday 22nd August 2012
Good morning. Today I’ll give a brief mid-week update on what is happening with exchange rates. We had seen the GBP/EUR rate recover back close to 4 year highs; however rates have been in decline this week. Today I’ll look at what has caused this, and which way rates may move in the coming weeks.

Why have Pound/Euro rates fallen?















Yesterday we saw GBP/EUR rates fall back into the mid €1.26’s. There were 2 reasons for this; firstly the UK deficit grew more than expected, which I’ll examine separately in a moment. The main reason for the fall was a strengthening of the Euro, caused by growing expectations the European Central Bank will take action to ease Spanish and Italian borrowing costs.

The anticipation of measures being taken in the coming weeks, to try and resolve the on-going debt crisis has been welcomed by investors. As a result, it’s spurred investment into the single currency, and this demand has caused strength, making it more expensive to purchase.

Talk of ECB intervention in debt markets resurfaced after a weekend report in Germany's Spiegel magazine that the central bank would target specific yield levels as part of any bond-buying programme. Reports At the beginning of the week said that the ECB played down that speculation; however there were reports that confirmed ECB experts were examining plans to cap Spanish and Italian yields.

"The focus is very much on the ECB's pledge of intervention, in combination with the EFSF," said Deutsche Bank economist Mark Wall, referring to the Eurozone rescue fund. The ECB is expected to detail its plans for addressing the Eurozone’s debt crisis in September.

If they do go ahead and we hear more concrete talk of this becoming a reality, expect the Euro to remain relatively strong. Don’t’ underestimate the Eurozone’s willingness to resolve the crisis. See below for my thoughts on what to do if you need to buy Euros.

UK Deficit Increases

As mentioned above, the Pound also weakened slightly when data showing Britain's public finances unexpectedly veered further off-track in July and a survey revealing a slump in factory orders this month as demand for consumer goods dropped.

Four months into the financial year the government has borrowed £44.9bn, £9.3bn higher than the same period in 2011. The OBR had predicted that borrowing on the same measure would be £120bn for the whole of the financial year, down from the £125bn borrowed last year.

This has reinforced the fact that the Pound is very weak – we’re in recession (still!), there is no growth, and unemployment while better than it has been, is still high. This is keeping Sterling weak relative to other currencies.

Pound/Dollar at 3 month high















Despite the Pound weakening and falling against the Euro, Sterling rose to a 3 month high against the US Dollar. Really this is again due to the news from the EU – as the Euro gained strength, the Dollar weakened as investors that had been holding them due to their safe haven status, moved back to riskier currencies.

This weakened off the Dollar, pushing rates up despite the Pound getting weaker.

So what is the forecast for GBP/EUR rates for the rest of the year?

Many people still seem to think that rates will get to €1.30, but when questioned they can give no logical reason why. They have just seen it get close, and think that therefore it must get there. The highest the rate has been in the last 4 years was 1.2860 over a month ago, and since then we have seen rates in decline.

The Pound is at record lows against most currencies. The only reason rates are still quite good against the Euro is due to the debt crisis. Now that investors are more confident of a solution, the Euro has been slowly regaining some of its value, and that’s why rates have been falling.

If you need to buy Euros, then consider the fact the rate is still within a few points of a 4 year high, which is not too bad at all considering rates were 10% lower at the end of last year. Don’t end up holding out for an inch only to lose a yard.

If you need to buy or sell Euros, then contact me now to discuss the options you have available to get the best possible rates and make the most of your currency.

Getting the best exchange rates

You want the best exchange rates, of course you do. That's why you're reading this blog to try and gauge your timing. Take the next step and send us a free enquiry and have a consultation on all the options available to you.

It's free, it doesn't obligate you, and you may be surprised how much you can save by using us to get exchange rates that are up to 5% better than offered by banks. Click below to send your free enquiry now, and get a response the same day.

Click here to send me a free enquiry

Pound/Euro forecast August/September 2012

Monday 20th August 2012
Good morning. So as usual for Monday mornings, here's my outline of what has been happening to the Pound/Euro rate in the last week, with a full analysis of what is causing the movements. In addition I will look at where rates may head in the coming weeks, and also list a run down of the weeks economic data that could affect rates.

In this week’s Report:

• Pound climbs to 2 week high against US Dollar
• Events in Eurozone continue to drive rates
• Thin trade in holiday season creating peaks and troughs
• Round up of the week’s other data that may affect rates

(For currencies other than GBP, EUR and USD, contact us for a consultation)

Sterling vs. Euro;

After the excitement of the previous week and the comments made by Mario Draghi’ s and Mervin King - last week failed to produce any real excitement. The Pound broadly maintained its strength against the single currency, trading in a very narrow range throughout the duration of the week despite a number of important data releases made on both sides of the channel.













On Tuesday Sterling gained marginally over the Euro as UK inflation surprisingly rose for the month of July, whilst at the same time figures released showed that the Eurozone economy shrank in the second quarter of 2012. Although positive news for the UK economy the market didn’t react too much as the general view was that the Bank of England’s stance on monetary policy is unlikely to change any time soon, and therefore the results to a certain extent remain irrelevant for now.

The week continued in a similar fashion as the market showed indifference when, as expected on Wednesday, the Bank of England produced the minutes from the Interest rate setting meeting from the beginning of the month. This reported a 9-0 vote to keep interest rates on hold and no further Quantitative easing.

As surmised in previous reports, with UK rates firmly on hold and further QE off the table in the near term, Sterling is unlikely to play a dominant part in driving the cross for the time being. The focus is firmly set on the performance of the Eurozone. This was evident on Friday when the Pound began to lose some ground against the Euro following comments from the ECB and Angela Merkel of decisive action expected to reduce the borrowing costs for Spain and Italy.


So if the ECB take action could this lower GBP/EUR rates?

Any action by the ECB early next month to lower borrowing costs for Spain and Italy could well give the euro a lift against the Pound. But equally, now that they have outlaid an expectation, any lack of any bold action especially at a time when worries about Greece are resurfacing could send the euro lower across the board.

The status quo is likely to remain for the time being as markets remain quiet in part due to the holiday season. However there also seems to be somewhat of an undercurrent of disquiet as the problem in the Eurozone seems once again to be coming to the surface.

On the face of things the key members of the Eurozone are all singing from the same hymn sheet and claiming that they will do ‘whatever it takes for the euro to survive’ and thus far have managed to keep the markets subdued. However, cracks in the armour seem to be getting larger after Finland’s outspoken Foreign Minister last week claimed that the country was preparing for a ‘full blown currency crisis’ and the possibility of the Euro breaking up.

So it certainly looks like the EU debt crisis will continue to drive the Pound/Euro rate for the short to medium term. In uncertain times such as these, it's important to know your options and not just hope rates will go in your direction. Make sure you make the most of your currency, and use all the tools at your disposal to ensure that you maximise your position within the currency markets.

Contact me now for a free consultation.

Weekly Economic Data that may affect exchange rates

Below we list the main economic data releases of the week. It should be noted that as August is the holiday season in much of the world and Europe in particular, we are very quiet indeed on the data front. This does not necessarily mean there won’t be movements in rates however. Often when trade is thin in quiet periods we see larger swings in exchange rates than usual so if you have an imminent exchange to make, contact us today to have a free consultation.

Monday – There is little data of note today. The only scheduled releases are Construction data from Europe and a report from the FED in the states about Economic Activity.

Tuesday – On the whole another very quiet day for data. The UK releases its latest Public Sector Borrowing data at 09:30am. In New Zealand we see the latest inflation report from the Reserve Bank of New Zealand. Australia publishes its most recent Bank minutes. In the USA the FED gives a speech.

Wednesday –The only thing to watch out for is the FOMC minutes from the states that might affect GBP/USD rates.

Thursday – The markets have been saving all the data for today. UK: Mortgage Approvals & a CBI Trades Survey. EU: German GDP, German Imports & Exports, German, French & EU wide Inflation Data, EU wide investor confidence. US: Housing Prices, Homes Sales. New Zealand: Imports Exports & Trade Balance.

Friday – A little busier today with GDP figures from the UK in addition to a measure of business investment. In Europe the Greek and French leaders meet, which could mean an announcement about the Greek bailout. Over in the States we have durable goods orders.

Getting the best exchange rates

You want the best exchange rates, of course you do. That's why you're reading this blog to try and gauge your timing. Take the next step and send us a free enquiry and have a consultation on all the options available to you.

It's free, it doesn't obligate you, and you may be surprised how much you can save by using us to get exchange rates that are up to 5% better than offered by banks. Click below to send your free enquiry now, and get a response the same day.

Click here to send me a free enquiry

Weekly GBP/EUR 2012 forecast, and the weeks data

Monday 13th August 2012
Good morning. Pound/Euro rates recovered last week after the BoE dampened expectations of an interest rate cut. Today I'll take a look at what caused the gains, and look at the data this week that could affect exchange rates going forwards.

In this week’s Report:

• Pound gains on Euro after BoE Inflation report
• Pound/Dollar rates remain in the 1.55/1.56 range
• Lots of data from Europe this week that could affect GBP/EUR
• Round up of the week’s other data that may affect rates

Contact us for a full free consultation on your requirments.

Sterling vs. Euro;

Last week saw an interesting week on Sterling/Euro with Rallies in both directions, creating decent opportunities for both buying and selling the single currency. The early part of the week saw the pound in general decline with Mario Draghi’s Euro positive rhetoric ringing in many traders’ ears. It was then his counterpart Mervyn Kings turns to move the markets later in the week.

At Wednesdays Bank of England quarterly inflation report, King poured cold water on the widespread rumours that a UK base rate cut was imminent. His read on the situation is that a cut would further hamper financial institutions’ ability to lend and would in fact be counterproductive to economic growth in the UK.

With the already low interest rates unlikely to be cut investors rallied to the Pound, safer in the knowledge that their yield would not be reduced and thus the exchange rate moved up, as you will see in the graph below.












It appears then that the UK with its expectation of zero growth and no apparent movement on rates or quantitative easing, it is unlikely to be the main driver on the GBP/EUR cross in the short term. The storm clouds that still hang over the Euro Zone seem a much more likely cause of market movement.

Al though this week has seen no real negative news from the single currency area; the effect has realistically seen a sideways drift rather than any real strength. The fact that King saying there will be no rate cut can move the market a whole cent in one afternoon session is testament to how weak the Euro is.

The weakening in UK economy will probably keep the rate in check and potential prevent enormous rallies back to pre-2008 levels but in the here and now, a near 4 year high should still be seen as attractive if you need to purchase this year; fixing a forward rate in the mid 1.20’s would suit most budgets when compared with last year when rates were as low as 1.13.

This week there are lots of data releases that could affect GBP/EUR rates further, including the BoE minutes, and a host of GDP releases from the EU; see below for more detail.

If you are looking for the best exhcange rates, then click here to send me a free enquiry and find out more about our service.

Weekly Economic Data that may affect exchange rates

Monday – It’s a relatively quiet start to the week. The only UK data of note is the latest House Prices from the Royal Institute of Chartered Surveyors showing the health of this sector. In the Eurozone there are some minor Wholesale Prices. Elsewhere there are some Retail Sales numbers from New Zealand.

Tuesday – Lots of data today compared to yesterday. In the UK we have: Inflation Numbers (CPI and PPI), Retail Prices, House Prices, and the BoE Inflation letter by Mervyn King. In the Eurozone we have: French Inflation data, French GDP, German GDP, Spanish Inflation Data, Portuguese GDP, EU wide GDP, Industrial Production and surveys on Economic Sentiment. So much that could affect GBP/EUR rates. Stateside we have the latest inflation numbers, Retail Sales, and a measure of Economic optimism.

Wednesday – Again a very busy day, but this time all from the UK and US. Starting in the UK we have the all important Bank of England minutes. This is followed by a speech by BoE governor Mervyn King. In addition we will see various jobless measures including the Claimant Count & Unemployment Rate. Over in the states we have another round of inflation numbers, Mortgage Applications, Industrial Production and numbers on the Housing Market.

Thursday – Today we will see the latest UK Retail Sales, which are an overall barometer of economic activity. In the Eurozone there are some inflation numbers which could dictate interest rates. Stateside we have Building permits, Jobless Claims, and the Philadelphia Manufacturing Survey. We end the day with more inflation numbers from New Zealand.

Friday – There are no UK releases today. In Europe we see the most recent Trade Balance numbers and some German inflation data. We will also see the latest Canadian Inflation numbers. Over in the states we have the latest measure of consumer sentiment.

Getting the best exchange rates

You want the best exchange rates, of course you do. That's why you're reading this blog to try and gauge your timing. Take the next step and send us a free enquiry and have a consultation on all the options available to you.

It's free, it doesn't obligate you, and you may be surprised how much you can save by using us to get exchange rates that are up to 5% better than offered by banks. Click below to send your free enquiry now, and get a response the same day.

Click here to send me a free enquiry

Pound gains against Euro on BoE report

Thursday 9th August 2012
Good morning everybody. So, an interesting week so far since my last post on Monday morning. After steady declines for the Pound/Euro rate, yesterday saw a slight recovery, and it was all to do with the Bank of England (BoE). Today I'll focus on what was said in the BoE's inflation report, and what the forecast is for where Pound/Euro rates may go in the coming weeks and months.

BoE Inflation report gives the Pound a boost

Sterling rose nicely yesterday against the Euro and US Dollar, after the Bank of England governor Mervyn King said cutting interest rates would damage financial institutions and would be partly counterproductive. The Pound had weakened over the last week on expectations that there would be a cut in interest rates. As this now looks less likely in the short term, it has strengthened the Pound and pushed exchange rates up, at least for now. The reason is a higher interest rate is attractive to investors, causing demand for a currency and therefore strength.

He didn’t actually rule out a rate cut, but did say that another quarter point cut was "neither here nor there". He went on to say that "Another quarter point on bank rate is not going to be the difference between having a recovery and not having a recovery." He added that a rate cut would damage some financial institutions and therefore would be "more counter-productive than beneficial".

In response to the comments, Vicky Redwood, chief UK economist of Capital Economics said that "The door is clearly open to more stimulus and we still expect both more quantitative easing and a further interest rate cut in November".

So, his pouring cold water on to the chance of a rate cut in the short term has given the Pound a boost, but it’s still likely more stimulus, and a cut, will come sooner or later. It’s likely that they are simply waiting to see what affect the EU crisis will have on the UK before using the last tools it has in its box to tackle the stagnating economy.

The future of the Pound/Euro rate in the coming months can be viewing in the same way; it all depends how badly the problems in the UK will affect the UK, such as exports.

Also in the quarterly inflation report, they cut their growth forecast to close to zero from about 0.8%. Most publications, the BBC in particular, pounced on this fact and had this as their main headline, saying that is shows that the government spending cuts were not working.

The markets clearly do not agree, as demonstrated with the Pound rising a point against the Euro following the press conference. Both the IMF and the currency markets in general reacting positively to the deficit reduction programme and this is keeping the Pound relatively well supported against other major currencies - for the moment at least.

So what else did he say that was of note?

"The big picture is that output's been flat for two years, and has continually disappointed expectations of a recovery,"

"We are navigating rough waters and storm clouds continue to roll in from the euro area,"

"Unlike the Olympians who have thrilled us over the past fortnight, our economy has not yet reached full fitness."

What I take from this is that the BoE are very cautious on what effect the EU crisis will have on the UK, and I think that is what will drive the Pound/Euro rate in the coming weeks. Later in the year, more QE and a rate cut is likely, so don’t expect rates to shoot back above €1.30 any time soon.

So which way are Pound/Euro rates going?

I am asked this question many, many times each day, and like you I would love to know the answer! If I did I would not be writing this post, I would be on my Sunseeker somewhere in the Med.

What I can do is give you my opinions based on the background information that is in the public domain, and explain what has been moving rates. In this way you can make an informed decision on what is right for you, depending on your particular requirements and attitude to risk.

More problems in the Eurozone could cause further gains in the GBP/EUR rate, but I think in the short to medium term, concerns about UK growth are going to keep the Pound in check. The tug of war between the weakening Euro, and the weakening Pound will continue and this is what will drive rates.

If you need to purchase Euros in the coming months, then if it were me I would consider fixing a rate while there is a spike in your favour. It has been in decline for a few weeks after the recent highs. There is no way to predict where exchange rates will go, however with rates within a few points of their best in 4 years, holding out for even more could prove very costly.

That's what I would do, however I am very risk averse and do not like gambling. Everybody is different however, and should you want to gamble on rates going higher, then talk to me about 'Stop Loss' orders. These allow you to continue aiming for a higher rate, but not leave yourself open to unnecessary losses. Click here to make a free enquiry and find out more about the contracts and rates we offer our clients.

Getting the best exchange rates

You want the best exchange rates, of course you do. That's why you're reading this blog to try and gauge your timing. Take the next step and send us a free enquiry and have a consultation on all the options available to you.

It's free, it doesn't obligate you, and you may be surprised how much you can save by using us to get exchange rates that are up to 5% better than offered by banks. Click below to send your free enquiry now, and get a response the same day.

Click here to send me a free enquiry

Pound/Euro continues to drop from 4 year high

Monday 6th August 2012
Good morning. While Gold was been the main focus last week in the UK in the form of Olympic medals, the value of sterling has fallen against the Euro with the pound falling away from recent highs and taking a firm second place while the Euro gains. In today's report I'll take a look at what has caused the GBP/EUR rate to drop away, and where rates may head in the coming weeks.

In this week’s Report:

• Pound/Dollar drops on better jobs data
• Sterling/Euro falls again from its 4 year high
• Possible buying of Spanish bonds strengthening Euro
• Round up of the week’s other data that may affect rates

Sterling vs. Euro;

GBP/EUR rates slipped away from the recent near-four year high of last week mainly due to comments from the Euro zone with Mario Draghi announcing that he will do "whatever it takes" to save the Euro.













The ECB said on Thursday it may resume its programme of buying the government bonds of indebted euro zone countries. The terms and conditions are being drawn up for the bond buying programme and a key factor to bear in mind is that Draghi explicitly left open whether the new bond purchases would be sterilised - i.e. whether the ECB would sell other assets, to leave the total money supply unchanged. This means that if the bond purchases are not sterilised, then they would come under the heading of genuine quantitative easing, like the Bank of England.

On Thursday the Bank of England left interest rates and its quantitative easing target unchanged but expectations are growing that the central bank will opt for further monetary easing in the coming months to aid a flagging economy, in addition to the possibility of an interest cut.

Nevertheless, concerns about the UK have been growing since recent data showed the UK economy slumped in the second quarter, marking its third consecutive quarterly contraction. "The expectations are that the economy will rebound modestly in the third quarter but that doesn't change the picture of growth stagnating," said Lee Hardman, currency economist at BTMU.

Analysts expect the Euro will edge lower against the pound, taking it back towards a near four-year low if worries deepen about debt problems in Spain and Italy. However if it is agreed that the ECB will buy Spanish bonds to reduce their borrowing costs, this could be taken as a positive by the markets, and cause the GBP/EUR rate to drop further. The chart below shows the declines we saw on Friday as the Pound lost ground against the Euro, pushing rates towards €1.26.















So what next?

Both the Euro and Sterling are not without problems, it remains to be seen what the short term future holds for the currency pairing. What we do know is that timing is key when looking to buy or sell your currency. At the Foremost Currency Group we will arm you with market knowledge and look to make the most of the markets with a variety of different contracts available to you.

To find out how good our exchange rates are, and the types of contract we can offer to protect you against adverse exchange rate movements, send us a free enquiry now.

Weekly Economic Data that may affect exchange rates

Monday – Some economic zones have a Bank Holiday today such as Ireland and Australia. There are figures from elsewhere however, with Retail Sales data from the UK. IN the Eurozone we see Greek Inflation data and EU wide investor confidence.

Tuesday – We’ll start in the US today where we have a Speech by the Federal Reserve following last weeks good jobs data. In the UK we see the latest Industrial & Manufacturing production figures, in addition to the latest GDP estimate from the NIESR. In the Eurozone the main releases are Irish GDP & German Factory Orders.

Wednesday – Europe releases lots of Trade Balance data today, including Import and Export measures from Germany and France. There are also Industrial Output measures from Spain and Germany. In the UK we have an inflation report from the Bank of England and some house price data from the RICS. Stateside releases include Non-Farm Productivity and Mortgage Applications.

Thursday – After EU Trade Balance figures yesterday, today is the turn of the UK and we’ll see Imports and Exports released at 9.30am. Wholesale prices from Germany is the only EU release of note. In the USA we have further Trade Balance figures.

Friday – Today is all about inflation numbers. We start in Germany where the latest CPI figures are released. IN the UK the Producer Price Index is the inflation measure released at 9.30. To end the week we have some more Trade balance numbers from the USA and a monthly budget statement from the FED.

Getting the best exchange rates

You want the best exchange rates, of course you do. That's why you're reading this blog to try and gauge your timing. Take the next step and send us a free enquiry and have a consultation on all the options available to you.

It's free, it doesn't obligate you, and you may be surprised how much you can save by using us to get exchange rates that are up to 5% better than offered by banks. Click below to send your free enquiry now, and get a response the same day.

Click here to send me a free enquiry