Daily risk events for Sterling this week

Volatile week expected on the market with a flurry of important economic releases.. 

 

GBP

It was roles reversed last week in that £-€ was rather stagnant over the period, whereas £-$ fell by 1%. This was due to better than expected UK PMI data and worse than expected EU PMI data, whilst the US had an overall strong economic week.



Once again, the UK has only one major release and it's arguably the biggest one on the calendar in interest rates. The 'higher for longer' rhetoric will need to be confirmed in how the MPC members vote and so Thursday represents a mini-risk event for the Pound.



Mortgage approvals came in less than forecast earlier today and we expect to see the Nationwide house prices data to be weak too. All-in-all, Sterling is set to remain under pressure for the forseeable. 


EUR
The € ends the month with a heap of European economic data, that have the ability to really get things moving in the market. The week has started well after Spanish inflation came down and German GDP was better than the consensus. The latter releases its own inflation number this afternoon, so expect more movement before the day is out.



Tomorrow's Euro-Zone inflation & GDP numbers are key market movers and therefore mini-risk events in their own right, so we are in for a busy morning. The jobs data to start the new month (Thursday/Friday) also represent potentially volatility in the market. 


USD
The US offers something of note each day this week and so the Dollar will be looking to extend its gains in the market. Confidence figures, PMI data, jobs releases and a Fed interest rate decision is an exciting mix and makes this week a very interesting one to follow. 

 

Image Image
Governing Bodies and Registrations

Excel Currencies are a fully Authorised Payment Institution with the UK Financial Conduct Authority. ( Ref: 911228) and HM Revenue & Customs (MSB No: 12190705) as a Money Services Business. Excel Currencies ltd are also members of the UK Money Transfers Association (MTA) and the Association of International Property Professionals (AIPP).

Security of Funds

Excel Currencies ltd operate a Safeguarding Client Account System which protects all funds in these accounts against any liabilities that Excel Currencies ltd may have.

Excel Currencies Ltd, Enterprise House, 8 Essex Road, Dartford, Kent DA1 2AU

Registered in England and Wales, No. 05171054

Copyright © Excel Currencies Ltd 2023. All Rights Reserved.

Help Options Available

Contact Us

Live Chat OFF Live Chat ON