Quiet data continues to leave exchange rates stable

28 August, 2014

Tom Arnold

A quiet week, with not much in the way of key data is giving the currency markets very little to work with and as a result we are seeing little in the way of serious movement with exchange rates, for those of you with Pounds looking to transfer money overseas, remaining range bound and relatively stable.

Today sees various releases from the Eurozone, with German unemployment and CPI inflation data, overall European consumer confidence and money supply numbers. The Eurozone is struggling to register any significant impetus down the road of economic recovery and as a result these figures could give us some indication of what to expect in the coming weeks.

In the US we have a pretty critical release in the form of annualised GDP. The growth of any economy is obviously very important, and with many recent US data announcements being quite positive, a good reading here could give the Dollar the strength it needs to consolidate recent gains even further.

At home there is no data of serious note, so we will have to sit back and see what the world’s other major zones throw at the Pound. Make sure you stay in close contact with your CI currency broker to be kept informed of exactly what is happening and how it is likely to affect your upcoming currency requirement.