Busy Week for Data Begins

The Euro continued to make minor gains against the pound despite news from EU body Eurostat that factory output fell by 0.3%, whilst the USD began to strengthen against the pound falling back down from the recent 2 ½ month highs. Perhaps it is the quiet before the storm as today sees several important data releases, and with more due later in the week it is likely to be a busy one . It is a telling day today as we see releases from Germany who in recent times have spearheaded European recovery, the UK, and also the U.S which will no doubt further reveal the extent of their respective economic problems, but perhaps more importantly who is on the fast road to economic stability.

This morning interestingly has seen German GDP come in slightly under prediction at 0.7% and with UK Consumer Price Index later today predicted as being bullish (positive) it might perhaps see the Euro weaken and fall back from the nine month high level against the pound it recently reached. Furthermore with US House Price Index and Retail Sales both being predicted as coming in bearish (negative) we may see Sterling make gains also against the USD. It will certainly be a busy day as all parties battle to show economic recovery to the Global markets, and with such a busy week in the way of data releases we are likely to see an increased amount of movement.
Make sure you speak to your Currency Index broker should you have any transfers coming up to make sure you stay ahead of the market.