Normal Currency Market Service Resumes

Last week was a strange one for the currency markets with a bank holiday on the Monday for the UK and much of Europe, followed by a week where there was almost no data of note released. As such we saw the markets stagnate and there was very little movement to report, with the majority of the pairings staying range-bound with rates simply edging up and down through the week.

This week however sees a return to a more normal service as we see a few major releases, which will no doubt kick off movements once again. With Interest rate decisions for AUD, EUR and GBP volatility is likely should we see any change. Whilst changes here are unlikely, the monetary statements that follow are always a good indicator of future performance so it is likely we will see crosses with these pairings start to shift once again.

Interestingly it is a quiet week for the pound so it will be an exciting one to watch as we see how it reacts following the down time we saw last week, but it is likely movement for GBP will largely be driven by what happens elsewhere and the results.

Should any of you have upcoming transfers to make stay in close contact with your CI broker – we often talk about the calm before the storm, but we may well experience now the storm post the calm. So speak to Currency Index today, who can help you stay well informed and well ahead of the market.

Tuesday

04.30 AUD Interest Rate Decision; 14.00 USD ISM Manufacturing PMI

Wednesday

01.30 AUD GBP (YoY Q2); 14.00 CAD B.O.C Interest rate decision and rate statement

Thursday

11.00 GBP BoE Interest rate decision & Asset purchase facility; 11.45 EUR ECB Interest rate decision; 12.30 ECB Monetary policy and press statement; 14.00 USD ISM Non –manufacturing PMI

Friday

09.00 EUR GDP (YoY Q2); 12.30 CAD Unemployment & Net change in unemployment; 12.30 USD Non-farm payrolls