Analysts predicting a quiet day on the currency markets

In a week bereft of any really big market moving data, today sees probably the most likely culprit for some excitement in the UK, with the monthly announcement of the UK’s unemployment situation due out at 9.30am. Analysts expect that we will probably see a fairly stable number, similar to last month’s, so watch for any surprises. In an interesting side note to the Eurozone debt crisis, we have a ruling due today from the German Constitutional Court on the legality of the ECB’s recent bond buying programme. It is hard to imagine how badly it would be received by the markets if the single currencies largest economy ruled that the main method of fixing the recent crisis was not legal… It could certainly add some spice to tomorrow’s ECB monthly report! GBPEUR continues to be very range-bound and this was not changed by German CPI this morning, which came out very much in line with market expectations. The rest of the week sees very little data of note, with US retails sale figures tomorrow and European CPI inflation numbers on Friday. So today is likely to be the last chance for any serious movement. As ever keep in close touch with your CI account manager to be kept informed of what is occurring and how it could affect your upcoming currency purchase. Regards