The last couple of weeks have been fairly uneventful on the currency market with data not having too much impact on the rates and last week was no different. There have only been few buying opportunities here, and there from spikes in the market otherwise, the market has been trading with a cent rage on GBP/EUR. This could be down to investors eagerly awaiting the decision on when article 50 is to be invoked in March and when done so we can fully expect the market to react in a volatile with Sterling expecting to weakened. With that being said this could potentially be the last opportunity to take advantage of the current rates. When article 50 is put in motion Sterling could very easily lose the gains it has made back since Brexit was announced and could be trading in the lows we were at before the turn of the year.

The week ahead

This week could be a busy start to March as various data releases may shake up the market. To start the week off, today in the morning at 10 am the Eurozone releases service sentiment, consumer and industrial production, business climate and finally economic sentiment. Later in the afternoon at 13.30 durable goods order will be released and later on at 15.00 pending home sales data is also to be announced. In the evening over to New Zealand as import and export data is to be released as is trade balance figures. Here is a full list of what is set to be released this week.

Monday
10:00 – Eurozone – service and economic sentiment, consumer and industrial & business climate
13.30 – US – durable goods orders
15:00 – US – pending home sales
21.45 – New Zealand – import and export, trade balance

Tuesday
00.00 – AUS – new home sales
00.00 – UK – Gfk consumer confidence
08.00 – Swiss – kof leading indicator
13.30 – US – GDP index
13.30 – US – personal consumption expenditures
15.00 – US – consumer confidence

Wednesday
00.30 – AUS – GDP
02.00 – US – trump speech to Congress
07.00 – Swiss – UBS consumption indicator
09.00 – Eurozone – markit manufacturing
09.30 – UK – Markit manufacturing, consumer credit & mortgage approvals
13.30 – US – personal income and spending
13.30 – CAD – current account
14.30 – CAD – RBC manufacturing PMI
15.00 – US – ISM manufacturing PMI & consumer spending
15.00 – CAD – BOC rate statement

Thursday
00.30 – AUD – import, export & trade balance
06.45 – Swiss – GDP
08.15 – Swiss – retail sales
09.30 – UK – Construction PMI
09.30 – Eurozone – unemployment rate, cpi and PPI data
13.30 – US – Jobless claims
13.30 – CAD – GDP

Friday
09.00 – Eurozone – markit services
14.45 – US – markit services & non-manufacturing PMI
18.00 – US – oil rig count & FED Yellen speech