A busy week ahead on the Currency market – eyes on Euro Interest rate decision and US non-farms

30 November, 2015

Matthew Boyle

A busy week ahead on the Currency market – eyes on Euro Interest rate decision and US non-farms. Last week was a fairly quiet week for GBP>EUR with rates remaining within a tight range. The major mover of the week was USD which made significant gains against EUR and GBP ahead of next month’s announcement of whether the US will look to raise interest rates on not.

The week ahead is particularly busy one with a number of key releases from around the globe, but significantly on Thursday the ECB interest rate decision and on Friday US non-farm payrolls. Undoubtedly these Ecostats have the ability to move rates quickly. With a lot of speculation in recent weeks over whether the ECB will actually cut rates we may see a large amount of movement in the Euro price. Equally all eyes will focus on the US and their releases as all await any clue as to whether the interest rate hike will occur. With so much speculation as to these events and negative results could see rates move quickly, particularly the fairly fragile GBP>EUR pairing currently.

With rates close to the best they have been since 2008 you may not want to get caught out by bad news. So if you have an upcoming Euro purchase speak to your broker today who can keep you well advised in what is likely to be a very volatile week ahead.

00.00 AUD New house sales
09.30 GBP Consumer credit and mortgage approvals
13.00 EUR German CPI data
15.00 USD Pending house sales

01.00 JPY BoJ Governor Kurodas speech
03.30 AUD RBA Statement and Interest rate decision
08.15 CHF Retail Sales
08.55 EUR German Unemployment rate and change
23.30 AUD RBAs Glenn Stevens Speech

08.00 GBP Halifax Housing data
10.00 EUR CPI data
15.00 CAD BoC statement and interest rate decision

09.00 EUR Markit services PMI
12.45 EUR ECB Interest rate decision and statement
14.45 USD Markit services PMI

13.30 USD Non-farm payrolls
13.30 CAD Unemployment data