Third quarter GDP figures set for release later this week

This week’s main economic news in the UK comes in the shape of GDP figures on Wednesday. With the Pound last week having tickled its highest point against the Euro and US Dollar this year, not to mention the best rate for buying Australian Dollars for over 3 years, many people have been securing their exchange rates in the recent days and enjoying better rates than they had budgeted for.

The GDP figure, which measures economic growth in the UK, is a reading for the 3rd quarter of this year. There is no other major data due out for the UK, so do keep an eye on events elsewhere likely to affect rates for your transaction. In Europe, coalition talks are ongoing in Germany, while consumer confidence (Wed) and inflation & unemployment (Fri) are potential banana skins for the single currency. In the USA there is a busier week with home sales, consumer confidence and durable goods all due out. To add to the Swiss and Canadians’ GDP figures, German inflation & unemployment, and New Zealand’s trade balance, it is shaping up to be a busy week.

So don’t just assume that exchange rates will continue up – they can quickly move the wrong way, so stay in touch with us at Currency Index for the latest news on our Twitter and free quotes for your transfer.