This week’s currency update

28 July, 2011


The Pound remains under sever pressure this week after Friday’s disappointing revision to GDP – althouth the headlines reported an improvement to the Q4 figure, the government actually revised the annual growth number DOWN resulting in a broad sterling sell-off.

Exchange rates have fallen significantly against all major currencies.

This week, the following data will be of interest:

Monday 1st
0900 Eurozone PMT inflation
0930 UK mortgage approvals
1000 Eurozone unemployment rate
1330 Canadian GDP
1330 US personal consumption & spending

Tuesday 2nd
0330 Australian interest rate decision
0645 Swiss GDP
1400 Canadian interest rate decision

Wednesday 3rd
0030 Asutralian GDP
0700 German retail sales
1000 Eurozone retail sales

Thursday 4th
0030 Australian trade balance
1000 Eurozone GDP
1200 Bank of England interest rates & quantitative easing
1245 Eurozone interest rate decision
1330 US jobless claims

Friday 5th
1330 US average earnings, non-farm payrolls & unemployment rate