Little data, Little change, Little movement on the markets

Despite today being month end and hence an opportunity for profit taking for many investors, which could well see some volatility, there is an almost complete absence of any data of note, so we could also see a very flat day on the markets. Yesterday’s US GDP figure was revised slightly lower than anticipated and hence the Dollar has weakened off a little against both the Pound and the Euro, but otherwise there has not been too much to write home about for a few days now. The only data of any note today is European CPI inflation and unemployment figures – European data has not been at its best of late, so this could give some positivity to Euro buyers. Most eyes are on next week’s Bank of England decision(Thursday), with lowering inflation potentially opening the door for more QE, European GDP(Wednesday) – how deep will their recession go, and of course the US will be watching non-farm payrolls(Friday) closely as usual. Stay in close touch with your CI account manager and follow our blog at www.currencyindex.co.uk/blog to be kept abreast of all the developing currency news and how it will affect your currency purchase.