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Flat start to the week for Sterling exchange rates but what can we expect as the week evolves? (Daniel Wright)

Monday, October 24, 2016 8:24
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(Before It's News)

A fairly flat day for the pound against most major currencies so far today, with Sterling trading in a very thin range against Euro, Dollar, Australian Dollar and New Zealand Dollar exchange rates.

We have had very little economic data out of note today however there are a number of other releases that are worth noting as the week moves on.

Tomorrow we have two key speeches from both the Governor of the Bank of England (Mark Carney) at 15:30pm and Head of the European Central Bank (Mario Draghi) an hour later at 16:30pm. Both of these may lead to a volatile afternoon for Sterling and Euro exchange rates.

Many speculators and investors will be watching every word during both of these speeches for any hints to future changes in economic policy and the market will no doubt move around extremely quickly should any hint to new changes arise.

If you have an exchange to carry out and you would like to be kept up to date with the action then feel free to contact me (Daniel Wright) by emailing me personally on djw@currencies.co.uk and I will be happy to get in touch with you.

Late on Tuesday night we have a flurry of inflation data which will be interesting for anyone with the need to buy or sell Australian Dollars, especially with the market rate for GBP/AUD hanging around the pivotal point of 1.60. Expectations are for Australian inflation figures to remain fairly static however any result that differs from this may lead to a sharp movement overnight. There are ways to take advantage of overnight movements in your favour, most notably a limit order where you request that if a certain rate of exchange becomes achievable at any point 24 hours a day then your currency will be bought out automatically for you. This contract type is free to use with us and can be extremely handy.

The Dollar and New Zealand Dollar take centre stage on Wednesday with lots of data out from the States over the course of Wednesday afternoon and then import, export and trade balance data out for New Zealand later in the evening at 22:45pm – Again a limit order may be worth considering overnight if you are close to your target rate and do not wish to miss out should a spike occur.

Thursday will be important for Sterling exchange rates as we have GDP (Gross Domestic Product) or growth figures out at 09:30am and then later in the day Durable Goods and Jobless Claims data out for the States which will impact U.S Dollar exchange rates.

We round the week off with lots of data our from all over Europe which will impact Euro exchange rates and then U.S GDP (Growth) figures to wrap up the week which can have an impact on all major currencies as it has an effect on global attitude to risk.

On top of everything we have the U.S election which will no doubt keep the Dollar on its toes so we have a lot for the market to digest throughout the week.

if you have a currency exchange to carry out either now or in the coming weeks and months then it is well worth getting in touch with me personally. I can help you not only ensure you get a market leading rate of exchange but also that you get an extremely high and award winning level of customer service too. You are welcome to email me (Daniel Wright) directly on djw@currencies.co.uk which will take you merely two minutes to do and may save you thousands of Pounds in the future. I look forward to assisting you.

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