This weeks data providing a strong backing for the Pound.

17 February, 2014

Matthew Boyle

Last week was on the whole a positive one for the pound, gaining much of the lost ground following its recent slightly shock release of poor manufacturing data. Against the dollar it is holding at the best level we have seen since mid 2011 – as a result of a recently flying pound and a debt ridden US economy.

However against the Euro the pound is still somewhat struggling, and whilst we are close t the best levels we have seen this year against the Euro it seems there is much more of a battle here. Certainly we have struggled to push through the ceiling in recent weeks and whilst we got close a few shock pieces of poor data from the UK coupled with Draghis ever-constant talking up of the Euro has seen the single currency contain the pounds advances. This week is likely to be an interesting one as it is fairly heavily weighted towards pound data so no doubt we are set to see a large degree of movement dependant on the results.


JPY BOJ Interest rate decision JPY BOJ

Monetary policy statement GBP

Consumer Price Index (YoY and MoM)

Jan EUR Zew Economic sentiment survey


GBP BoE minutes GBP


ILO Unemployment rate

USD FOMC minutes


USD Consumer Price Index (YoY)

Jan USD Consumer Price Index ex fuel and energy (YoY)

Jan JPY BoJ Monetary policy meeting minutes


CAD Bank of Canada Consumer Price index (YoY and MoM) Jan

As can be seen the week heavily leans on pound data so any movements will largely be driven solely by the pounds results here. Aside from the odd one or two “hiccups” the pound in recent months has been flying. However should any pieces of data come in under the expectation we could see some losses, particularly against the single currency which is at present fighting the good fight. Aside from the major pairings, any of those with more exotic Currency requirements would be well advised to speak to your broker today as the strong pound is still experiencing fantastic rates across the board on ZAR, THB, INR and AED to name but a few. Should you have any upcoming currency requirements speak to your Currency Index broker today – We can help you stay well informed and well ahead of the markets.