Eurozone inflation due today.

24 February, 2014

Matthew Boyle

It would seem at least in the short term that the pound has begun to falter following weeks and indeed months of good data releases. Whilst the pound has demonstrated huge strength recently and made noticeable gains against nearly all currencies (bar the Euro) we have seen the rates across the board shoot up. Two weeks ago we saw the first wobble with the release of poor PMI data which saw the first losses against the pound. Last week the wobble continued as Thursday saw unemployment figures released, and whilst they showed a reduction came in slightly under expectation but also showed a slowing in the speed at which unemployment was falling. In a rather strange result the markets reacted and the pound made small losses against the Euro and USD whilst, as it has done in recent weeks remained relatively string against the remainder of the board. However Friday came and the wobble was made worse as a raft of UK retail data came out way under consensus which aided the single currency and greenback in both gaining a cent against the pound.

Without doubt in recent weeks we have seen the pound struggle to gain ground, particularly against the Euro (bolstered by a weak USD) with it remaining highly range bound to within a couple of cents. And certainly against the debt ridden USD we have seen GBP>USD buying levels the best they have been since 2011, so we must ask with these releases of poor data and the unusual losses made by the pound, particularly against the hugely weak USD  – Is this just a wobble and how long will it last?

Whilst the pound has taken a slight knock, it does remain particularly strong against a range of currency, so take note any of those with upcoming requirements for ZAR, SEK, and EGP to name but a few.  And this week as we see the Pound, Euro and USD go head to head with GDP figures released, and with the Euro releasing the same figures the pound slipped with last week we are certain to see movement particularly as we reach Thursday and Friday which are both heavy set for data.

Indeed, if you have any upcoming transfers major pairing or other make sure you speak to your Currency Index broker today- we can help you stay well informed and well ahead of the markets.


EUR        Consumer Price Index (YoY Jan)



EUR        GDP

GBP       Inflation Report Hearings



GBP       GDP (YoY and MoM)



CHF        GDP (YoY)

EUR        Unemployment rate and Unemployment Change

EUR        Harmonized Index of Consumer Prices

USD       Durable Goods orders

USD       Feds Yellen Speech

JPY         Consumer Price Index



EUR        Consumer Price Index

USD       GDP annualized

USD       Personal Consumption Expenditures Prices

GBP       BoE Governors Carneys Speech