Retail Sales to compliment UK GDP figures today.
26 February, 2014
Yesterday saw the Pound make some limited gains against most currencies following some positive mortgage approval figures, and so the recent run of poor form for Sterling appeared to for now be slightly alleviated.
We have already seen a couple of pieces of data released this morning, with poorer than expected Australian Construction numbers, giving some weakness to the Ozzie Dollar and positive German Consumer Confidence figures giving the Euro nothing at all! This is somewhat surprising as the major Eurozone economy showing good signs would normally be expected to strengthen the Euro, but given recent data, the markets don’t seem to have any serious confidence in the Euro irrespective of the German Consumers.
All focus today will be on the release of the UK’s GDP figure. This is the second revision of Q4 GDP for 2013, and as a second revision, there is not much expectation of a big move or any surprises. But, GDP is one of the top two or three releases from any economy and as such it is well worth all of our attention, because any surprises will move the market, and could vastly effect your currency purchase if it involves Sterling.
Keep in close contact with your CI account manager this morning to be kept informed of what is happening, and your options for your upcoming currency requirement.
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