Could inflation data cause movements
14 April, 2014
Matthew Boyle
Last week was a fairly stagnant one for the pound, particularly given the movements and gains it saw just over a fortnight ago. The announcement that the BoE would hold interest rates at 0.5% did little to move the market, and all we saw was a consolidation of close to peak levels for the pound. The pound which has benefitted from a raft of positive data releases is now close to a five year high buying dollars, and against the Euro is around half a cent of the best it has been in a month – certainly a good time then for buyers.
This week is an interesting one as we see the majors go head to head as all post inflation data, and in what is a short week with Good Friday we could see a flurry in what has been a relatively stagnant market in recent weeks. Certainly with the pounds recent consolidation we will likely see a break out of trading levels, particularly against the Euro in the near future. Or any of you with upcoming transfers to make would be well advised to stay in close contact with your Currency Index broker to make sure you aren’t caught out by any potential swings.
Here the data of note due for release this week –
Monday
12.30 USD Retail Sales
Tuesday
08.30 GBP Consumer Price Index (YoY) (March)
09.00 GBP Core Consumer Price Index (March)
12.30 USD Consumer Price Index (YoY) (March)
12.30 USD Consumer Price Index ex Food and Energy (YoY) (March)
21.45 NZD Consumer Price Index (QoQ) (Q1)
Wednesday
02.00 CNY Gross Domestic Product
09.00 EUR Consumer Price Index (March)
09.00 EUR Consumer Price Index (YoY) (March)
14.00 CAD Bank of Canada Rate Statement
14.00 CAD Bank of Canada Monetary Policy Report
Thursday
12.30 CAD Consumer Price Index
12.30 CAD Bank of Canada Consumer Price Index Core (YoY) (March)
Friday
UK Bank Holiday GOOD FRIDAY
Should any of you have any upcoming bills, house purchases or currency transfers to make, speak to your Currency Index broker today for some friendly and professional guidance on how to get the most out of your transfer – we can help you stay well informed and well ahead of the markets.
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