Bank of England split 3 ways on policy

This morning's Bank of England Minutes revealed a 3-way split in the monetary policy committee's views on interest rates and quantitative easing.

While 7 of the 9 members voted for no change, one (Andrew Sentance) voted again for an interest rate rise, while one (Adam Posen) voted for a £50bn extension to QE.

Any extensions to QE are likely to hurt sterling and it now seems plausible that this will happen in the coming months.

On top of September's Public Borrowing figures, which showed record levels of UK debt, the Pound could easily fall further in the short term.

The government is also revealing its spending review cuts today.

Currency Index wins OPP Award

We are pleased to announce that Currency Index has won the prestigious “Best Currency Company” award in the 2010 OPP Awards for Excellence, in recognition of our industry-leading client service levels and exchange rates.

Overseas Property Professional editor Geoff Hadwick presented the award to Currency Index at last week’s OPP / Property Investor Live show at ExCeL in London.

This week's currency news

This week, focus in the UK is likely to be on Wednesday's Bank of England minutes, which will reveal to what extent the MPC considered extending the UK's Quantitative Easing programme this month. Any likelihood of further QE could hurt the pound.

Also on Wednesday, the government publishes its key spending review, with details of the billions of pounds of cuts planned in the forthcoming spending round. Markets are concerned whether there will be an impact on the economy, and therefore we feel Wednesday could be a doubly hard day for sterling.

Don't forget, if you are worried about a falling pound, that you can fix exchange rates up to 2 years ahead using a Forward Contract from Currency Index.

This week's economic calendar is as follows:

Monday 18th
1415 - US industrial production

Tuesday 19th
1000 - Eurozone construction output & ZEW economic sentiment survey
1330 - US housing starts
1400 - Canadian interest rate decision

Wednesday 20th
0930 - Bank of England minutes & UK public borrowing

Thursday 21st
0715 - Swiss trade balance
0830 - Eurozone manufacturing inflation
0930 - UK mortgage approvals & retail sales
1500 - Eurozone consumer confidence

Friday 22nd
All day - G20 meeting
1200 - Canadian CPI inflation
1330 - Canadian retail sales

UK Data Update

The data out from the UK this week so far has been mixed at best, unfortunately leading to a fall in the value of sterling against most currencies.

Trade Balance: worse than expected (-£8.2bn)
House prices: worse than expected (up 8.3% in last 12 months but now falling)
Unemployment rate: better than expected (7.7%)
Jobless claimants: worse than expected (up 5,300)

It is worth noting that Bank of England MPC member Andrew Sentance is giving a speech at 6.40pm today, and his views on interest rates and quantitative easing are likely to be taken as signals as to the Bank of England's intentions for the next few months, with implications for the Pound.

This week's currency news

This week's economic data, likely to affect currency exchange rates:

Monday 11th
US/Canada bank holiday (Columbus Day/Thanksgiving)
No major data releases

Tuesday 12th
0930 - UK CPI & RPI inflation and DCLG house price index, plus August trade balance
1900 - US Federal Reserve minutes

Wednesday 13th
0930 - UK unemployment rate & jobless claims
1900 - US monthly budget statement

Thursday 14th
0900 - Eurozone ECB monthly report
1330 - US PPI inflation & jobless claims

Friday 15th
1000 - Eurozone CPI inflation & trade balance
1330 - US CPI inflation & retail sales

Contact Currency Index for our views on how these figures could affect exchange rates for your own currency transfers.

House prices fell 3.6% in September

UK house prices fell 3.6% in September, according to Halifax - the biggest monthly fall since the survey started in 1983.

Although it is too early to say that prices are in decline, there is a worry for the UK economy that further falls in the housing market could cause serious problems for the economy. The Pound has continues its fall against the Euro and may other major currencies.

Currency Index in the news

Further to the collapse of Crown Currency Exchange, who are not Authorised by the FSA, Currency Index has today been commenting to the media regarding the enhanced safety and security offered by Authorised currency companies.

We are due to be featured on the BBC 6.00 news this evening, Wednesday October 6th.

Economic data due out this week

A busy week this week for data releases so we expect some volatility in exchange rates. Contact your account manager at Currency Index for the latest news relating to your currency transactions.

Monday 4th
1000 - Eurozone PPI inflation
1500 - US pending home sales
2000 - Federal Reserve Chairman Bernanke speaks
2200 - New Zealand business confidence

Tuesday 5th
0130 - Australian retail sales & trade balance
0530 - Australian interest rate decision
1000 - Eurozone retail sales

Wednesday 6th
1000 - Eurozone GDP
1100 - German factory orders
1315 - US non-farm employment change

Thursday 7th
0230 - Australian unemployment rate
0930 - UK industrial & manufacturing production
1200 - UK interest rate & QE decision
1245 - Eurozone interest rate decision
1330 - ECB press conference; US jobless claims

Friday 8th
0745 - Swiss unemployment rate
1200 - Canadian unemployment rate
1330 - US non-farm payrolls & unemployment rate

Euro rate continues to fall

Despite this morning's Q2 GDP revision showing no change to the 1.2% UK growth figure released earlier this year, the Pound has continued to fall significantly this afternoon, losing nearly 2c against both the Euro and US Dollar.

We are seeing an increasing number of clients worried about the falling Pound and fixing their rates for any currency requirements in the next few months. To discuss your options, do call us at Currency Index for an informal but informative chat.

Currency news this week

Last week saw a significant drop in the GBP-EUR exchange rate, while the GBP-USD rate has gone the other way. With the UK budget cuts due next month, the Pound could be vulnerable to any bad news; this week's data releases are as follows:

Monday 27th
0800 - European Central Bank speech (Trichet)
0900 - Eurozone money supply

Tuesday 28th
0700 - German retail sales
0930 - UK GDP (Q2)
1500 - US consumer confidence
2245 - New Zealand trade balance

Wednesday 29th
0930 - UK money supply & mortgage approvals
1000 - Eurozone economic confidence
Overnight - UK consumer confidence

Thursday 30th
0400 - New Zealand business confidence
0855 - German unemployment
1330 - US GDP & jobless claims

Best USD rate for 6 weeks

Weakness in the US Dollar has led to the best rates for sending money to the States since early August. If you have USD requirements, call Currency Index for a quote to take advantage of the spike in rates.

Euro rate falling as Bank hints at more QE

The Bank of England's policy minutes, released this morning, show that the committee is discussing the possibility of further quantitative easing to stimulate the economy.

With the forthcoming economic cuts also looming, the Pound has started to fall significantly, losing 2.5c against the Euro already this week.

If further QE is implemented, we are likely to see further drops in the value of sterling, as was the case this time last year. Contact Currency Index if you are concerned about falling rates and would like to discuss the possibility of fixing a rate now for delivery later in the year.

Currency news week commencing September 30th

This week's focus in the UK will be on the Bank of England's September minutes, due out on Wednesday morning, particularly whether any members voted for an extension in Quantitative Easing. If this proves to be the case, it would not be good news for sterling.

Elsewhere the following data is out around the world:

Monday 20th
0930 - UK mortgage approvals

Tuesday 21st
0230 - Reserve Bank of Australia minutes
1200 - Canadian CPI inflation
1330 - US housing starts
1915 - US interest rate decision

Wednesday 22nd
0930 - Bank of England minutes
1330 - Canadian retail sales

Thursday 23rd
0930 - UK mortgage approvals
1330 - US continuing jobless claims
1500 - US existing home sales

Friday 24th
0900 - German IFO business climate survey
1330 - US durable goods orders
1500 - US new home sales

UK Retail Sales tumble

This morning's UK retail sales figures are much worse than expected - showing a 0.5% drop in August, compared to analysts' predictions of a 0.3% increase.

The Pound fell on the release, as worries about the state of the recovery continue. If you are worried about falling rates, remember that you can fix and guarantee a rate up to 2 years ahead by using a Forward Contract from Currency Index.

Eurozone & UK Unemployment

UK unemployment has fallen slightly, to 2.47m in the 3 months to July. The unemployment rate remains at 7.8%. In Europe, there has also been a slight fall.

The Pound rose slightly this morning when the figures were released, but continues to struggle due to worries over cuts and the recovery overall. Tomorrow's retail sales figures, due at 9.30am, provide the next test for sterling.

Economic data releases this week

This week's major economic data releases are shown below - a busy week ahead, particularly on Wednesday with key relesases out in the UK, US, Eurozone, New Zealand, Australia and Canada.

For a simple explanation of any of these, and the possible implications on the currency markets, contact Currency Index.

Monday 13th
1900 – Monthly US budget statement
2345 – New Zealand retails sales

Tuesday 14th
0930 – UK CPI & RPI inflation
1000 – German ZEW economic sentiment
1330 – US retail sales

Wednesday 15th
0130 – Australian consumer confidence
0930 – UK unemployment & jobless claims
1000 – Eurozone CPI inflation & employment change
1200 – US mortgage applications
1330 – Canadian manufacturing shipments
2200 – New Zealand interest rate decision

Thursday 16th
0930 – UK retail sales
1300 – Swiss interest rate decision
1330 – US PPI inflation

Friday 17th
1330 – US CPI inflation

Pound down as trade balance worsens

The Pound's recovery this week has been swiftly halted by UK trade balance figures released this morning, which showed a defecit of some £4.8bn in July - £500m worse than expected.

The next major data release in the UK are tomorrow's inflation figures, and with the recovery still fragile, any bad news could spell trouble for the Pound.

Weekly economic roundup

This week we return to the usual monthly data releases from around the world relating to inflation, unemployment and interest rates in many key economies.

The most important day for exchange rates this week will likely be Thursday, when we have the European Central Bank report, Australian and US unemployment, German inflation and UK interest rates and trade balance.

The full calendar is as follows:

Monday 6th
Bank holiday – US & Canada
0930 – Eurozone investor confidence

Tuesday 7th
0530 – Australian interest rate decision
0645 – Swiss unemployment rate
1100 – German factory orders

Wednesday 8th
0700 – German trade balance
0930 – UK industrial & manufacturing production
1400 – Canadian interest rate decision

Thursday 9th
0230 – Australian unemployment rate
0700 – German CPI inflation
0900 – ECB monthly report
0930 – UK trade balance
1200 – UK interest rate decision
1330 – US jobless claims & trade balance

Friday 10th
0930 – UK PPI inflation
1200 – Canadian unemployment rate

Euro rate below €1.20

The Euro mid-market rate has dropped below €1.20 today for the first time since July, prompting fears for buyers of overseas property in Europe.

The Pound has been faltering over the last fortnight, and this morning's Eurozone retail sales data, which showed strong growth of 1.1% in the year to July, has also given the Euro more strength [made it more expensive].

Currency data this week

Major currency data released this week around the world is as follows. To discuss the possible implications on exchagne rates for your own transaction, please contact us at Currency Index.

Tuesday 31st
0130 – Australian current account balance
0855 – German unemployment rate
0930 – UK consumer lending and money supply
1000 – Eurozone unemployment rate
1330 – Canadian GDP
1900 – US FOMC minutes

Wednesday 1st
0400 – New Zealand commodity prices
0900 – Eurozone manufacturing
0930 – UK manufacturing

Thursday 2nd
0230 – Australian trade balance
0645 – Swiss GDP
1000 – Eurozone GDP & PPI inflation
1245 – Eurozone interest rate decision
1330 – US jobless claims
1500 – US factory orders & pending home sales

Friday 3rd
1000 – Eurozone retail sales
1330 – US non-farm payrolls & unemployment rate

Bloomberg analysts warn of falling Pound

Sterling rose to an eight-week high against the euro yesterday despite fears the pound's rally is coming to an end. Currency traders warned sterling will soon go into reverse as spending cuts and tax rises outlined in the Budget curb economic growth in the UK.

Foreign exchange forecasters are the most pessimistic they have been about the pound since May 2009 when rating agency Standard & Poor's said the UK was at risk of losing its AAA status, according to Bloomberg.

This week's economic releases

Week commencing August 23rd 2010; this week's data releases which are likely to have an effect on exchange rates are shown below.

For valuable opinions on what could happen to rates this week, contact Currency Index.

Monday 23rd
0830 - German manufacturing PMI
1500 - Eurozone consumer confidence

Tuesday 24th
0400 - New Zealand inflation expectations
0700 - German GDP
1330 - Canadian retail sales

Wednesday 25th
0900 - German business climate survey
1200 - US mortgage applications
1330 - US durable goods orders
1500 - US new home sales

Thursday 26th
0900 - Eurozone money supply
1330 - US jobless claims

Friday 27th
0930 - UK GDP revision
1330 - US GDP & personal consumption

Retail sales up - Pound gains strength

Most exchange rates have improved this morning, after UK retail sales figures released at 9.30am showed a much better performance in the sector than analysts had expected.

Retail sales in July were up 1.1%.

The Pound has gained 1c against the US Dollar and nearly 1c against the Euro in morning trading.

Bank of England minutes reveal no surprises

This morning's minutes from the Bank of England's interest rate setting committee showed that 8 of the 9 members voted to keep interest rates on hold.

UK interest rates have now been at 0.5% for 17 months.

Currencies are linked strongly to interest rate rises, so anybody hoping for better exchange rates for sending money abroad, will want interest rates to go up sooner rather than later.

Following the Bank's assessment last week that inflation is likely to fall, and that we are in for a "choppy" recovery, we are unfortunately unlikely to see an interest rate rise in the short to medium term.

Pound falls on UK inflation drop

This morning's inflation figures were lower than expected - which, although good news for the economy, is not positive for the Pound. We have lost a cent against the Euro and more against the US Dollar in trading today.

The single currency was boosted by solid demand at an Irish bond auction.

This week's currency data

This week's news releases, likely to affect exchange rates, are as follows:

Monday 16th
1000 - Eurozone CPI inflation
1800 - US housing market index

Tuesday 17th
0230 - Reserve Bank of Australia minutes
0930 - UK inflation
1000 - Eurozone economic sentiment survey
1330 - US housing starts & PPI inflation

Wednesday 18th
0130 - Australian wage price index
0930 - Bank of England minutes

Thursday 19th
0930 - UK money supply, public borrowing & retail sales

Friday 20th
1200 - Canadian CPI inflation

For the latest live rates, please call Currency Index on 0800 043 2623.

Downbeat inflation report

Yesterday's quarterly Bank of England inflation report predicted a "choppy" recovery ahead for the UK, with interest rates low for some time, and the possibility of more quantitative easing in the future.

Coming after an increase in long-term unemployment was announced, the Pound fell yesterday against most currencies, although curiously the weakening Euro has actually provided an improvement in rates for buying Euros over the last 24 hours.

House prices fall, but trade balance improves

Mixed news this morning, as UK house prices have fallen slightly over the last 2 months according to the main 3 UK housing market surveys, casting further doubt on the UK's economic recovery. On the other hand, Britain's trade balance figures out this morning showed something of an improvement.

The Pound has fallen slightly but is continuing to trade in tight ranges, ahead of tomorrow's Bank of England quarterly inflation report.

For the latest live rates for your transfer of money to the UK or overseas, please call us on 0800 043 2623.

This week's FX news

This week sees a number of important data releases likely to affect exchange rates, notably the Bank of England's key quarterly inflation report, released on Wednesday morning. There are also important monthly reports from the European and US central banks, along with GDP and inflation figures from other economies.

If you are sending money abroad, speak to Currency Index this week as there is likely to be volatility in rates which could provide opportunities to buy your currency at preferential rates.

Monday 9th
0230 - Australian home loand
0930 - Eurozone investor confidence

Tuesday 10th
0700 - German CPI inflation
0930 - UK trade balance
1915 - US interest rate decision

Wednesday 11th
0930 - UK unemployment rate
1030 - Bank of England quarterly inflation report
1330 - US trade balance
1900 - US monthly budget statement

Thursday 12th
0230 - Australian unemployment rate
0900 - European Central Bank monthly report
2345 - New Zealand retail sales

Friday 13th
0700 - German GDP
1000 - Eurozone GDP
1330 - US CPI inflation & retail sales

Interest Rates Held

As expected today, both the Bank of England and European Central Bank have kept interest rates on hold at their monthly meetings today.

The ECB are currently giving their monthly press conference, which may have an effect on Euro rates, while there are no further clues due from the Bank of England until next week's quarterly inflation report.

The Pound is steady against the Euro in trading today, and up against the US Dollar following yesterday's decline.

Currency data released this week

This week's main economic data releases (likely to cause volatility in exchange rates) are as follows. As in the first week of any month, there are a lot of key figures out from around the world. Contact Currency Index for the latest live rates and information.

Monday 2nd
0200 - Australian new home sales
0900 - Eurozone PMI manufacturing data
0930 - UK PMI manufacturing data
1330 - US personal consumption expenditure

Tuesday 3rd
0530 - Australian interest rate decision
0815 - Swiss CPI inflation
1330 - US core personal consumption & income
1500 - US pending home sales
2200 - US consumer confidence

Wednesday 4th
0130 - Australian house price index
0230 - Australian trade balance
1000 - Eurozone retail sales
2345 - New Zealand unemployment rate

Thursday 5th
1200 - UK interest rate decision
1330 - Canadian building permits

Friday 6th
0230 - Australian interest rate minutes
0645 - Swiss unemployment rate
0930 - UK industrial & manufacturing production & inflation
1200 - Canadian unemployment rate
1330 - US non-farm payrolls & unemployment rate

Bank of England voice concerns over recovery

Mervyn King, the Governor of the Bank of England, has suggested this morning that UK interest rates will stay low for the foreseeable future, given concerns about the strength of the UK recovery.

Low interest rates usually translate to a weak currency, so it is perhaps unlikely that we will see any significant gains for the Pound in the coming months.

Current exchange rates for sending money overseas are still around the best levels we have seen in 2010.

Best US Dollar rates since February

A weaker US Dollar has resulted in the best Dollar exchange rates against the Pound since February.

With the Pound still exposed to any further bad news in the UK economy, if you need to send money to the States in the coming weeks or months it might be a good time to consider fixing your exchange rate now.

Please contact Currency Index on 0800 043 2623 (+44 1923 777562 from abroad) if you would like to chat through your options.

Currency markets this week

As we enter the last week of the month, most major data releases have already been published, so there is no important news due out of the UK likely to have a huge effect on the Pound. Elsewhere around the world, the week's data is as follows; contact Currency Index for the latest news and rates.

Monday 26th
0230 - Australian PPI inflation
1500 - USA new home sales

Tuesday 27th
0700 - German retail sales
1500 - US consumer confidence

Wednesday 28th
0230 - Australian CPI inflation
0400 - New Zealand business confidence
2200 - New Zealand interest rate decision
2345 - New Zealand trade balance

Thursday 29th
0855 - German unemployment
0930 - UK mortgage approvals

Friday 30th
1000 - Eurozone unemployment rate
1330 - Candian & US GDP

GDP figures send Pound higher

This morning's GDP figures, estimating growth in the UK economy from March to June, have been released and are much better than expected. The figures showed a growth of 1.1%, compared to expectations of 0.6%.

Sterling has pushed higher on the news, so anyone considering fixing an exchange rate may like to request a quote from Currency Index today.

Retail Sales fall

This morning's UK retail sales figures showed a decline of 1.3% in the previous 12 months, compared to expectations of an increase 2.4%. This is worrying news for the UK economy and the Pound's prospects.

Don't forget you can secure an exchange rate up to 2 years ahead, using a Forward Contract from Currency Index.

Euro rate outlook worsens

This morning's Bank of England minutes have done the Pound few favours, as only one of the MPC's members voted for an interest rate rise this month. Higher interest rates are widely seen as a pre-requisite for further sterling strength.

"The euro is generally weaker so euro/sterling is down but overall I think the outlook for the pound is negative after the MPC questioned the UK's growth outlook," said Ian Stannard, senior currency analyst at BNP Paribas.

The euro slipped broadly after a Portuguese treasury-bill auction showed yields more than doubling from the previous sale

This week's economic data

Major economic news due out in the next 3 days, all likely to affect exchange rates, is as follows:

Today
0930 - Bank of England minutes
1900 - Federal Reserve chairman's speech

Thursday 22nd
0930 - UK retail sales
1330 - Canadian retail sales
1500 - Eurozone consumer confidence & US home sales

Friday 23rd
0930 - UK GDP
1200 - Canadian CPI inflation

This week in currency news

Most of this week's data releases come from the Eurozone, so those of you who are looking at sending payments in Euros should keep a close eye on exchange rates. The only major UK data is Friday's trade balance and PPI figures, while in the States we have a bank holiday today and very little of interest later in the week.

Monday 5th
0815 Swiss retail sales
0930 Eurozone investor confidence
1000 Eurozone retail sales

Tuesday 6th
0815 Swiss CPI inflation

Wednesday 7th
1000 Eurozone GDP

Thursday 8th
0230 Australian unemployment rate
0645 Swiss unemployment rate
0700 German trade balance

Friday 9th
0700 German CPI inflation
0930 UK goods trade balance & PPI inflation
1200 Canadian unemployment

GDP Release Delayed

The release of key UK GDP data, due out tomorrow, has been delayed to July 12th.

The Pound is currently enjoying a positive run, giving us the best Euro rates for over 18 months. Contact us to discuss your requirements if you are considering locking into an exchange rate now.

This week's currency news

After the bustle of last week's budget and Bank of England Minutes, this week is relatively quiet in terms of economic data likely to affect exchange rates. However, look out for UK GDP on Wednesday and Eurozone inflation figures on the same day, both of which could give some volatility to rates. In the USA, Friday's key monthly employment figures often cause movement in USD rates.

Do contact Currency Index for the latest rates and news.

Monday 28th
0400 - New Zealand business confidence
1330 - US personal consumption

Tuesday 29th
1000 - Eurozone consumer confidence
Overnight - UK consumer confidence

Wednesday 30th
0930 - UK Q1 GDP
1000 - Eurozone CPI inflation

Thursday 1st
No major data

Friday 2nd
1330 - US non-farm payrolls and unemployment rate

Budget tomorrow

Tomorrow we have the new UK government's emergency budget - and who knows what the effects might be on the currency markets. There is bound to be some reaction from the Pound, depending on how George Osborne's new policies and cuts go down in the City.

Meanwhile, we also have the following data out around the world:

Monday 21st
No major data

Tuesday 22nd
0715 - Swiss trade balance
0900 - German business climate survey
1130 - UK emergency budget
1200 - Canadian CPI inflation

Wednesday 23rd
0930 - Bank of England policy minutes
1330 - Canadian retail sales
1500 - US new home sales
1915 - US interest rate decision
2345 - New Zealand GDP

Thursday 24th
1330 - US durable good orders
2345 - New Zealand trade balance

Friday 25th
1330 - US GDP

Retail Sales Up

The Pound has had a boost this morning as May's UK retail sales came out better than expected. Overnight losses, following George Osborne's speech last night regarding banking regulation, have nearly been recouped for most exchange rates.

The Budget next Tuesday will now be the next area of focus; speak to us at Currency Index before the big day if you would like an informal discussion around your requirements.

Unemployment fails to rally Pound

This morning's UK unemployment figres up to 7.9% in the 3 months to April, up from 7.8% in the previous quarter.

Although the number of people claiming benefit fell slightly in May, the overall figures made for mixed reading and following a short boost there was little impact for the Pound.

Tomorrow's public borrowing numbers are the next major UK economic figres, and the last before Tuesday's emergency budget.

UK inflation falls

This morning's UK CPI inflation figure for May showed the headline inflation rate fell to 0.2%, from April's 0.6% figure. Although this is good news for the economy as the Bank of England is keen to keep inflation under control, the effect on sterling is the opposite, since lower inflation means that interest rates may not need to rise as had been feared.

The Pound gave back its overnight gains against both the Euro and US Dollar, and particularly against the Euro, where exchange rates for buying Euros have been falling throughout the day.

Currency news this week

This week's economic releases likely to affect exchange rates:

Monday 14th
0815 - Swiss producer & import prices
1000 - Eurozone industrial production

Tuesday 15th
0230 - Australian interest rate minutes
0930 - UK inflation
1000 - Eurozone employment & trade balance
1000 - German ZEW survey
1330 - US import price index
1330 - Canadian manufacturing figures

Wednesday 16th
0930 - UK earnings & unemployment rate
1000 - Eurozone inflation
1200 - US mortgage applications
2245 - US Federal Reserve Chairman's speech

Thursday 17th
0830 - Swiss interest rate decision
0900 - European Central Bank monthly report
0930 - UK retail sales
1330 - US CPI inflation & jobless claims

Friday 18th
0700 - German PPI inflation
0930 - UK public sector borrowing & mortgage approvals

Trade balance worse than expected

Figures this morning show the UK's trade balance has worsened slightly, to £3.3bn. This is only slightly worse than expected, so has not weighed too heavily on sterling on the money markets this morning.

Tomorrow's interest rate decision is unlikely to cause any surprises, so rates for sending money abroad could be influenced more by local events in each economy for the rest of the week. For the latest news, contact Currency Index.

Currency news this week

This week's main economic data releases around the world:

Monday 7th
No major data

Tuesday 8th
0645 - Swiss unemployment rate
0700 - German trade balance
0815 - Swiss CPI inflation
Overnight - UK consumer confidence

Wednesday 9th
0130 - Australian consumer confidence
0930 - UK trade balance
2200 - New Zealand interest rate decision

Thursday 10th
0230 - Australian unemployment rate
1200 - Bank of England interest rate decision
1245 - European Central Bank interest rate decision
1330 - US jobless claims & trade balance
1900 - US monthly budget statement

Friday 11th
0930 - UK industrial production & PPI inflation
1330 - US retail sales

Euro rate flirts with €1.20

Problems in the Eurozone have contributed to a cheaper Euro, with rates now at their best since the financial crisis. If you are buying Euros to send overseas, consider fixing your rate now for at least part of your requirements.

This week's economic releases

There are a lot of important figures due out around the world this week likely to affect commercial exchange rates. For the latest updates, please contact Currency Index.

Tuesday 1st
0530 - Australian interest rate decision
0645 - Swiss GDP
0855 - German unemployment
0930 - UK manufacturing inflation
1000 - Eurozone unemployment rate
1400 - Canadian interest rate decision

Wednesday 2nd
0230 - Australian GDP
0930 - UK consumer lending & mortgage approvals

Thursday 3rd
0230 - Australian trade balance
1000 - Eurozone retail sales
1330 - US jobless claims
1500 - US factory orders

Friday 4th
1000 - European GDP
1200 - Canadian unemployment rate
1330 - US non-farm payrolls & unemployment rate