This week's exchange rate news
A good week for the Pound last week, particularly against the Euro, with positive data from the UK in terms of inflation and unemployment. Unfortunately against the US Dollar we saw the exchange rate fall due to the Federal Reserve raising one of its benchmark interest rates - a move which usually makes a particular economy's currency more expensive...
While we have the best Euro exchange rates for around a month, do consider fixing a rate before Christmas in case there is any volatility over the festive period. This week the only major UK data is out tomorrow: a final revision to Q3 GDP which is a strong indicator of whether or not the UK is now on the verge of coming out of recession.
Elsewhere, there are also GDP figures out in the USA, New Zealand and Canada, so if you are sending money overseas in the coming weeks to any of these countries then keep an eye on exchange rates after the announcements.
This week's economic calendar:
Monday 21st
1330 - Canadian retail sales
Tuesday 22nd
0700 - German GfK consumer confidence survey
0930 - UK GDP revision
1330 - USA GDP revision
1500 - US house price data
2145 - New Zealand GDP revision
Wednesday 23rd
0930 - Bank of England minutes
1330 - Canadian GDP
1330 - US personal consumption figures
1500 - US new home sales
Thursday 24th
1330 - US jobless claims
Friday 25th - HAPPY CHRISTMAS TO ONE AND ALL!!
Picture by everystock