Busy week ahead, sure to see exchange rate movement

Following what was a quiet week last week, as we saw a lot of the fallout settle from the Scottish vote, this week we have a large number of releases. So be prepared for a busy week in the market this week as we see a large amount of heavy hitting reports which could certainly shift exchange rates. Interestingly there is very little data from the UK, so will we see the GBP-EUR rate drop back off from the current highs we are experiencing? Certainly after Draghi’s bearish comments last week all eyes will be watching Thursday for any potential change or indication on the horizon. And as we move into Friday the focus will shift across the pond to the U.S to see if the USD can continue strengthening against the pound but more notably against the Euro with it currently around a 2.5 year high. So with a lot of information out this week we are certainly set for a bumpy ride….here is a preview of the major pieces of data released this week.

• Monday: 12.00     EUR        Harmonized Index of consumer prices
• Tuesday: 07.55     EUR        German Unemployment change and rate; 09.00     EUR        CPI data; 09.00     EUR        Unemployment rate; 14.00     USD       Consumer confidence
• Wednesday: 01.00     CNY        NBS Manufacturing PMI (Sep); 09.00     EUR        GDP data; 14.00     USD       ISM manufacturing P.M.I
• Thursday: 11.45     EUR        ECB interest rate decision; 12.30     EUR        EC Monetary policy statement and press conference.
• Friday: 12.30     USD       Nonfarm payrolls; 12.30     USD       Unemployment rate; 14.00     USD       ISM non manufacturing P.M.I

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