Currency News this week 7 Aug 2011

7 August, 2011


A busy week ahead for currency markets, as recent volatility caused by sovereign debt problems looks to continue alongside regular data releases.

The ECB are holding an emergency meeting to decide whether to buy Italian government bonds to stave off the need for a full bailout package, and worries in the US over a double-dip recession are continuing. The debt problems which seem to appear whichever way you turn, are unlikely to disappear quickly and are giving short term spikes in exchange rates with opportunities to buy currency at advantageous rates.

This week we also have key announcements in the UK (inflation report – Wednesday), USA (interest rate decision & monthly report – Tuesday) and Eurozone (monthly report – Thursday). Each of these could have a significant impact on exchange rates.

Whatever currency you need to buy or sell, contact us at Currency Index so we can update you with the latest news and any movement of rates in your favour. You can call us on 0800 043 2623 or 01923 725725.

Monday 8th
0645 – Swiss unemployment rate

Tuesday 9th
0700 – German trade balance
0930 – UK industrial & manufacturing production, and trade balance
1915 – US interest rate decision & Fed press conference

Wednesday 10th
0700 – German CPI inflation
1030 – Bank of England governor Mervyn King’s speech; Bank of England quarterly inflation report
1900 – US monthly budget statement

Thursday 11th
0230 – Australian unemployment rate
0900 – European Central Bank monthly report
1330 – US trade balance & jobless claims

Friday 12th
1330 – US retail sales