This week’s exchange rate news
Last week saw a relatively poor performance from the Pound, even though the Bank of England resisted the temptation to use its entire allocation of £150b billion at its meeting on Thursday, leaving £25 billion free for future use…
This, in theory, should have been good news for Sterling – but after a brief rally, expectations of the remaining £25 billion being used in August instead quickly set in, with the Pound falling back accordingly.
This week, Tuesday's UK inflation data is the main data release to look out for. An increase in inflation should be good news if you are sending money abroad, while a lower figure would only be good for those of you bringing money back to the UK, and vice versa.
If you are sending US Dollars overseas, Tuesday and Wednesday afternoons see the major news releases, while in the Eurozone, Wednesday's inflation data and Tuesday's German sentiment survey are likely to be the key drivers for Euro rates.
UK Releases
Monday (overnight) – retail sales and RICS house prices
Tuesday (9.30am) – CPI & RPI inflation figures
Wednesday (9.30am) – unemployment rate for May
Amercian Releases
Tuesday (1.30pm) – PPI inflation and retail sales for June
Wednesday (1.30pm) – CPI inflation
Wednesday (7pm) – minutes from the last FOMC meeting
Thursday (3pm) – manufacturing survey
Eurozone Releases
Monday (11.30am) – ECB President Trichet's speech
Tuesday (9am) – German ZEW economic sentiment
Tuesday (10am) – industrial production data
Wednesday (10am) – CPI inflation
Other Releases
Canada – Monday (1.30pm) – Bank of Canada business outlook survey
Australia – Tuesday (2.30am) – key business confidence data
Switzerland – Wednesday (8.15am) – May retail sales
For more information on international money and the property market in general, please visit http://www.themovechannel.com/money/
-ENDS-
Notes to editors:
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Filed under Press Releases by on Jul 13th, 2009. 