A further quiet day ahead of tomorrow’s data

11 May, 2016

Grace Rae

Yesterday followed the footsteps of a quiet week with no big data releases out to sway rates. Although the UK did post some positive Goods Trade Balance figures which pushed GBP/EUR rates up just under half a cent.

This morning our trading day kicks off with UK Manufacturing Production and Industrial production data is due at 9:30 so results may cause some movement in the rates. This afternoon, GBP NIESR GDP Estimate at 3pm followed by US 10 Year Note Auction and Monthly Budget Statement at 5pm and 6pm. Pound- euro has continued to trade sideways and today may well continue however tomorrow could turn the tables.

Data releases to look out for come on Thursday and include EU Industrial Production followed by an array of UK data at 12pm. The Bank of England’s Asset Purchase Facility, latest UK Interest Rate Statement, which is expected to be unchanged, however, we could well see a movement in rates should the result be not what is expected. BOE Quarterly Inflation Report, MPC Vote and meeting minutes are all due at 12pm. It’s expected that the markets could experience a change, and the afternoon brings a majority of US data in the form of Jobless claim and Import/Export index.

If you go have a requirement due in the coming weeks it may be worth considering booking in your transfer prior to the big data releases to avoid any disappointment should the rates not move in your favour. Call in and speak to one of our friendly brokers to discuss your options today.