Exchange rates steady this week

As those of you who read our reports regularly will know this week is very quiet on the data release front, other than UK GDP due out tomorrow. We do have a couple of releases of note today, but nothing we would expect too much from. German CPI inflation figures come out this morning followed at lunchtime by US house sales figures – neither is expected to be wildly different to previous figures, with only a shock move likely to prompt any real market movement. There are a couple of business and banking surveys released in the UK this morning as well, which will be used by the Bank of England and others to help paint the picture of the UK economy’s current position, but neither is likely to really affect the markets very much.

There has been a slight strengthening of the Dollar in the last few hours following some more positive comments from a member of the Federal reserve with regards to the likelihood of further US quantitative easing, which has in turn slightly weakened the Euro. But the markets are still very much in the same area as they have been for the last couple of days.

Tomorrow’s GDP revision really is the only major data of note this week, so keep in touch with your CI account manager to make sure you are kept abreast of expectations and how they might affect your currency purchase.