Quiet start to the week Pound back in favour

8 September, 2015

Tom Arnold

The week started yesterday with a quiet day on the currency markets. There was little data of serious note out and with the US closed for Labour day, the markets took a bit of a breather. The lack of activity gave Sterling an opportunity to make back some of the ground it has lost recently – gaining back around a cent against both the Euro and the US Dollar. The reason for this was fallout from the mixed US jobs data on Friday and a feeling that the recent post-Greek deal positivity towards the Euro might have been overdone.

The day ahead is another quiet one, although at least with all the major participants involved. We have already seen positive German trade balance figures and the next release of any note is European GDP due out shortly. Expectations are for overall European growth to have remained the same as previous, so watch this space for any surprise figures, which could undoubtedly cause the Euro to react. Other than that the only other release today are some low key US figures and a few bond auctions.

Tomorrow is a complete reverse of today and yesterday, with a raft of key data due out from across the major zones, with the highlights being UK GDP and industrial/manufacturing production numbers. So make sure to stay in close contact with your CI account manager to be kept informed of exactly what is happening and how it is likely to affect your upcoming currency purchase.