A look to the week ahead

By Matthew Boyle

Last week was another frustrating one for GBP as it continued to fail to break outside its recently well-established trading range. GBP-EUR rates whilst they have tested a key level of resistance several times has on each occasion failed to push higher. However, this week could signal the change.

We have a generally busy week in terms of data but Bank of England data on Thursday is most critical. Given the recent rangebound behaviour of GBP, a bullish tone from the BoE could be the required catalyst allowing rates to push higher, otherwise we will likely see another failed test or breakout from current levels.

Of course, Covid trends continue to influence rates – certainly the UK has benefited recently due the speed of the vaccine programme.

But both buyers and seller of GBP might like to consider how pivotal Thursday might be as depending on its outcome we may not see rates as favourable as these in some time. Speak to A Place in the Sun Currency today for some friendly guidance on how to remove risk from your transfer and don’t be caught out.


06.00     EUR        German Retail Sales

07.45     GBP       Markit manufacturing PMI

14.00     USD       ISM Manufacturing PMI


04.30     AUD       RBA Interest rate decision and Statement

13.30     CAD       Markit Manufacturing PMI

14.00     USD        Factory Sales

22.45     NZD       Employment Change and Unemployment Rate


01.30     AUD       Retail Sales

07.55     EUR        German Markit Services PMI

09.00     EUR        Retails Sales data

12.15     USD        DP Employment Change

14.00     USD        ISM services PMI


01.30     AUD       Trade Balance

11.00     GBP        Bank of England Report, Interest rate decision, MPC vote.

11.30     GBP       BoE Governor Baileys Speech

23.00     AUD       RBA Givernor Lowes speech


01.30     AUD       RBA Monetary Policy Statement

12.30     USD        Non-Farm payrolls

12.30     CAD       Unemployment data