Lots of new month data to keep note of

4 March, 2019

Grace Rae

Markets remained stable on Friday as they continued to provide some of the best exchange rates for those with sterling in hand. Investors seem to have reacted positively to the prospect of a no deal Brexit coming off the table and this week could be more of the same as markets await further votes potentially happening in parliament as soon as the beginning of next week. With the market reacting quickly off any new reports, its expected that we could see more movement in the rates this week, especially as there appears to be more backing for Theresa Mays deal. If this is voted through and the UK can keep on track with the deadline date of the 29th or vote to an extension on Article 50 then we might see rate stabilise, but any surprises could also cause another dip.

With the current levels still holding strong, many have been taking the opportunity to secure their currency requirements and are removing the risk of future volatility by locking in an exchange rate with a small deposit and settling the balance payment at a later date by using our forward contracts. If you are not very risk adverse this might be a good option for you too, so get in touch with one of the team to discuss. If you are more ambitious then a Limit and Stop Loss order might be more for you. This option allows you to secure your currency at your preferred rate automatically should the market reach that level or buy at your worst case rate should the market suddenly take a hit.

With a new month, comes new eco stats and this week there is plenty to make note of. Today however not so much aside from UK Markit Construction this morning at 09:30 so we could see further sentiment running the market today.

Here is a quick look at the week ahead.

Tuesday
EUR Markit Services PMI and Retail sales
GBP Markit Services PMI and Bank of England Carney Speech
USD Markit Services PMI and Composite
USD ISM Non-Manufacturing & New Home Sales

Wednesday
AUD GDP
USD Good Trades Balance and Employment Change
CAD Bank of Canada Rate Statement and Interest Rate Decision

Thursday
AUD Trade Balance and Retail Sales
EUR Employment Change and Interest Rate Decision
USD Jobless Claims and Non-Farm Productivity

Friday
GBP Industrial Production
USD Housing Starts, Average hourly earnings, unemployment rates, and Non-Farm Payroll
CAD Unemployment Rate


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