The Week Ahead

This saw both currencies strengthen against the currently flagging US dollar, with the Euro continuing to make minor gains against the pound at the end of the week, as it has slowly been doing over recent months. The pound is now at a nine month low against the Euro as pressure for the UK to renegotiate the terms of E.U membership intensifies.

This week is a busy one in the way of data and sees a flurry of releases which are likely to cause a large amount of movement in currently volatile markets. Albeit today is relatively quiet for major reports this week has a number of significant releases –

Tuesday
German Consumer Price Index
German GDP
UK Consumer Price Index
UK House Price Index
US Producer Price Index
US Retail Sales

Wednesday
European Consumer Price Index
US – Fed’s beige book

Thursday
Australian Employment Change
Australian Unemployment rate
ECB Monthly Report
New Zealand Consumer Price Index

Friday
Chinese GDP
US Consumer Sentiment Index

With the US, UK and Europe all battling ongoing economic woes and following last weeks announcement that now Japan have announced a stimulus package, these reports have the potential to cause a large amount of movement. Will the Euro continue to make gains against the pound? Will the Dollar continue to lose ground? This week will certainly be a telling one – If you have any transfers coming up make sure you speak to your Currency Index broker to stay ahead of the markets.