Trump or Hillary

7 November, 2016

Grace Rae

We ended last week with the Pound in a better position than it has been in recent weeks, thanks to the Bank of England’s move away from a rate cut and the surprise of a High Court’s ruling that parliament must vote on the start of the brexit process. Likely to be only one of a few surprises yet to come as the UK leaves the European Union. However don’t let this past week fool you into thinking the pound is on the up. With a long way to go before a brexit officially happens uncertainty still drives the markets – one thing investors hate, so expect that rates could still fall over the coming months.

In terms of data releases, this morning we have EUR Investor Confidence at 09:30 follow by Retail Sales at 10:00 then this afternoon the US post their Labor Market conditions at 14:00. A relatively quiet day in the way of data today before the fireworks of the US Presidential Election tomorrow. Over the weekend the pair continued to furiously campaign and polls begin to tighten further. Will current favourite Clinton make it to the White House again or will the keys to the Oval Office be handed to Trump? It comes as no surprise that we could see the market move a fair amount in the run up to the election results so should you have a Dollar requirement it may be worth considering placing a stop loss and limit order to manage your risk exposure during the election results.

The week ahead:

USD Presidential Election Results Day
GBP 09:30 Manufacturing and Industrial Production
GBP 10:00 Inflation Report Hearing
GBP 15:00 NIESR GDP Estimate

GBP overnight RICS Housing Price Balance
AUD overnight Mid Year Economic & Fiscal Outlook Report
GBP 09:30 Trade Balance
EUR 10:00 European Economic Growth Forecasts
NZD 20:00 RBNZ Interest Rate Decision & Monetary Policy Statement
NZD 21:05 RBNZ Press Conference

USD 13:30 Continuing Jobless Claims
USD 19:00 Monthly Budget Statement

CAD 14:50 BoC Governor Poloz Speech

Remember, remember our forward contracts allow you to lock in at todays rates for up to 2 years ahead, so don’t be the one to ‘Fawke’ out to much money on your next transfer and get in touch with your Currency Index broker or a member of the team for some friendly guidance on the current exchange rates and how we can help secure your upcoming currency requirements. Call us on 01923 725725