Last week was a very busy week with some key events that caused movement in the market. Wednesday saw the Dutch election results come in – with many fearing the right wing Gert Wilders would gain power. Perhaps fortunately given his political stance, he did not, and as a result, the Euro strengthened. Later that day we also saw the Fed hike their interest rate by 0.25% basis points, but more importantly, perhaps they announced that there would only likely be another 2/3 increases to the interest rate as opposed to the previous 3/4.


With the hike on this occasion being priced in and as a result of the downgrading in possible future hikes the Dollar weakened. Then on Thursday, we saw the Bank of England MPC vote which saw a shocking turn as one member voted for a rate hike which was not expected and consequently pushed strength into the Pound and allowed it to gain. The result of these various significant events led to a turbulent week which GBP/EUR rates moved up 2 cents, GBP/USD moved up almost 3 cents while EUR/USD moved 2 cents throughout the week finishing a cent higher.


This week is a very busy week concerning data indeed, so expect volatility in the rates. Inflation data from the UK on Tuesday, ECB non-monetary meeting on Wednesday, and FED Chairman Janet Yellen's speech on Thursday dominate the releases from the majors. While elsewhere in the world we have major releases from Australia, Japan and New Zealand, so those of you with transfers which include AUD, JPY or NZD would be well advised to stay in close touch.


With the Brexit/article 50 battle ongoing, fears over a Scottish referendum increasing and as we fast approach the French elections volatility will likely only increase and as such being aware of what is happening and timing can be crucial to getting the most out of your transfer.


So if you have any future requirements give your Currency Index broker a call today for some helpful guidance on how to get the most out of your transfer in what is such a turbulent time.


Currency Index can help keep you well informed and ahead of the market, helping you to save money when sending money overseas.


Monday
07.00 EUR German Producer Price Index
10.00 EUR Labour cost data
11.30 USD Chicago Fed National activity Index
16.45 EUR German Buba President Weidmann speech


Tuesday
00.30 AUD RBA meetings minutes
06.45 CHF SECO economic forecasts
09.30 GBP Producer Price Index, Inflation data and Public net sector borrowing.
23.30 JPY BoJ Monetary policy meeting minutes


Wednesday
08.00 EUR Non-monetary policy meeting minutes
13.00 USD House Price Index
20.00 NZD RBNZ Interest rate decision


Thursday
07.00 EUR German Cfk consumer confidence survey
09.00 EUR Economic bulletin
09.30 GBP Retail sales
12.00 USD Fed Yellens speech & jobless claims
14.00 USD New Home sales
18.00 EUR Consumer confidence
21.45 NZD Trade balance & import/export data


Friday
05.00 JPY Economic Index
06.30 EUR French GDP
08.30 EUR German Markit manufacturing
09.00 EUR Eurozone Markit manufacturing PMI
12.30 USD Durable goods orders
14.45 USD Markit Manufacturing PMI