The week ahead on the currency markets

10 February, 2014

Simon Eastman

Sterling finished last week fairly flat having drifted lower across most major currencies over the week. Despite the good news from the NIESR who predict UK growth will hit 2.5% this year, the Pound was trading lower, having dropped a couple of cent against the single currency Euro. With that in mind, we open this morning down again against the majority, which could be setting the trend for this week too. If so, it would be wise to look at securing any transactions sooner rather than later.

This week we have the following key releases to look forward too:

Monday – EU Sentix Investor Confidence

Tuesday – Australian House Price Index

                     US Fed member Yellen speech

Wednesday – UK BoE Inflation Report and Mark Carney Speech

                             ECB President Draghi speech

Thursday – Australian Employment data

                       German Inflation figures

                       ECB Monthly Report

                       US Retail Sales

                       Fed Member Yellen speech

Friday – EU GDP

So not a great deal out for the UK which could be bad news if the downward trend for sterling continues and with little to support the pound that could be the case. Some key releases for the Eurozone, if they post better than expected, could mount on to last week’s momentum from the Euro and see those exchange rates come down further.

If you have a transfer to make in the coming week, make sure to contact one of the team here at Currency Index to discuss your options and make the most from the markets.