A look forward to the week ahead

Last week was an interesting one on the markets, it was the first week of a new month following the huge events seen in January and began relatively quietly. Throughout the week it had seemed the Euro prices had been slightly overcooked following Januarys major events – The Swiss pulling their peg, Euro zone Q.E and the Greek vote. As such despite poor Euro data the single currency had began to make gains against both GBP and USD. As the week progressed the majors all traded relatively range-bound with little major movements to report. However this largely changed on Friday as the release of U.S non-farm payroll data was released showing a figure of 257k from a predicted 234k, down from a previous 349k. With a much improved figure the Dollar regained strength against the Euro and made gains here whilst also against the pound. This seemed to turn the tables once again against the single currency with it losing a cent against the greenback and slightly more against the pound.

This week we have a busy week from around the globe but with the majors all releasing data of note, so it will be an interesting one to watch to see how things will continue to play out. Despite the fact we have seen the Euro regain some strength last week we are close once again to the levels seen following the Greek vote last month, and many would continue to argue the Euro is overpriced. And with ongoing USD strength, aided by cheap oil prices and them leading the interest rate hike race this is only putting more pressure on the currently weak Euro adding to its woes and weakness and perhaps only further inflating its current pricing.

With a busy week ahead particularly after Wednesday when the majors data begins to come hard and fast we could see fast movements in rates, so stay in close contact with your C.I currency broker should you have any upcoming requirements. Certainly any Euro strength or Dollar or pound weakness this week could see these levels quickly eroded. Indeed any of you contemplating forward contracts may like to act now before we see once again these overcooked Euro prices fade away.

Below are some of the key data releases this week.

Monday
00.15	AUD	RBA Governor Glenn Stevens Speech
07.00	EUR	German trade balance
13.15	CAD	Housing starts
15.00	USD	Labor market conditions index (Jan)
Tue
01.30	CNY	Consumer Price Index and Producer Price Index data
09.30	GBP	Industrial production and Manufacturing Production data
15.00	GBP	NIESR GDP estimate
15.00	USD	Wholesale inventories
Wed
24HR	EUR	Eurogroup meeting
02.00	CNY	New loans
10.30	GBP	BoE Quarterly inflation report
	USD	Mortgage applications
13.00	USD	Richard Fishers Speech
Thu
00.30	AUD	Employment change and Unemployment rate data
07.00	EUR	German CPI data
10.30	GBP	Boe Inflation letter and BoE Governor Carneys speech
13.30	USD	Jobless claims and Retail sales data
22.30	AUD	RBA Governor Glenn Stevens Speech
Fri
07.00	EUR	German GDP and wholesale data
10.00	EUR	Eurozone GDP data
14.55	USD	Reuters/ Michigan Consumer Sentiment index
18.30	USD	Feds Richard Fishers Speech

Speak to your currency index broker today for some friendly and professional guidance on how to get the most out of your currency transfer. We can help you stay well informed and well ahead of the markets.