Currency News This Week 21
28 July, 2011
Friday saw the much anticipated results of the European banks’ “stress test”, in which only 8 relatively small banks failed the European Banking Authority’s supposedly stringent tests of capital adequacy.
It will be some time until markets react to the detail in the results, but fortunately for clients looking to send Euro payments the single currency has not strengthened over the weekend.
This week, we have the Bank of England minutes on Wednesday, which are unlikely to show any change from the 7-2 split in votes to keep interest rates on hold this month. Thursday’s retail sales figures may be more important overall for the direction of sterling, as the UK has seen some poor economic data releases recently and recovery in high street activity would be a welcome change.
Elsewhere, rates for sending money to Canada may be in for some volatility this week, with interest rates, monetary policy, inflation and retail sales all due to be announced. In the USA we have new home sales and in Europe just consumer confidence, construction, and industrial orders.
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Data releases this week
No major data
0230 – Australian interest rate minutes
1000 – German ZEW survey & Eurozone construction output
1400 – Canadian interest rate decision
0700 – German PPI inflation
0930 – Bank of England interest rate minutes
1500 – US home sales & Eurozone consumer confidence
1530 – Bank of Canada monetary policy report
0700 – Swiss trade balance
0830 – German PPI inflation
0930 – UK retail sales & public sector borrowing
1000 – Eurozone industrial orders
1200 – Canadian CPI inflation
1330 – Canadian retail sales
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- 2019 (190)
- 2018 (229)
- 2017 (253)
- 2016 (254)
- 2015 (253)
- 2014 (252)
- 2013 (287)
- 2012 (270)
- 2011 (576)
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