This week’s currency news 28

The first full week of the month is always busy with data releases, and July is no exception.

The main news due out for those of you buying or selling Euros is likely to be Thursday’s Eurozone interest rate decision. The ECB are widely tipped to increase the base rate to 1.5%, which markets have been pricing in over recent weeks giving a stronger (more expensive) Euro. The UK interest rate decision on the same day is very likely to be ‘no change’.

In the USA, we have a holiday today for Independence Day, and will wait until Friday for the main data of the week, non-farm payrolls which is the main monthly indicator of the health of the US jobs market and can cause volatility in the dollar.

In general sterling remains vulnerable and until we see some improvements in confidence and the outlook in the UK, we don’t expect any major upward movement for the Pound.

Monday 4th
US Bank Holiday
0815 – Swiss retail sales
0930 – UK manufacturing

Tuesday 5th
0530 – Australian interest rate decision
0930 – UK services
1000 – Eurozone retail sales
1500 – US factory orders

Wednesday 6th
1000 – Eurozone GDP
1100 – German factory orders
2345 – New Zealand GDP

Thursday 7th
0230 – Australian unemployment
0930 – UK industrial & manufacturing production
1200 – UK interest rate decision
1245 – Eurozone interest rate decision

Friday 8th
0645 – Swiss unemployment rate
0930 – UK PPI inflation
1200 – Canadian unemployment rate
1330 – US non-farm payrolls