By Simon Eastman
Last week was another rangebound one for the pound as we had little key data to go on. The announcement that fully vaccinated Brits could now fly back from amber countries without quarantining on the return gave some initial strength to sterling at the start of the week, whilst Raheem Sterling was scoring for England, our sterling currency was on the back foot as the week concluded.
This week has some key releases for a wide range of countries which could affect exchange rates, so check the list below for the major releases of note:
Tuesday
UK financial stability report, German and US inflation.
Wednesday
RBNZ interest rate decision and policy statement, UK inflation, Bank of England members Saunders and Ramsden speeches, European Central Bank member Schnabel speech, Bank of Canada interest rate decision, policy statement and press conference, Fed Reserve Chair Powell testimony, Fed Beige Book (which is a Report on the overall health of the economy).
Thursday
Australian unemployment rate, UK unemployment rate and average earnings figures, US jobless claims, Fed Reserve Chair Powell testimony, New Zealand inflation report.
Friday
Bank of Japan interest rate decision, policy statement and press conference, EU inflation, US retail sales, US Michigan consumer sentiment index.
It’s a busy week, with plenty of data to affect the rates so if you have an immediate currency transfer to make in the coming days, get in touch with one of the team to discuss the potential impact on your specific requirement. If you have a currency requirement at a date in the future, feel free to call for some friendly guidance sooner rather than later, as you may find a forward contract or limit order of interest for securing a rate ahead of needing the funds, with a small deposit – particularly useful when trying to budget for that overseas purchase.