Inflation Figures Out This Week...

Inflation figures out this week, watch this space... Last week saw sterling continuing to struggle against most major currencies, as the UK recovery struggles to gather any significant pace. On Thursday as expected, the European Central Bank raised Eurozone interest rates to 1.5%, while the Bank of England held at 0.5%. The widening gap between UK and European interest rates has been one of the key factors in strengthening the Euro in recent weeks and has been keeping the GBP-EUR exchange rate lower. In the USA, a surprise decrease in new jobs announced on Friday also weakened the US Dollar, improving exchange rates temporarily in an otherwise poor week for USD buyers. This week we have a lot of key data releases in the UK, USA and Eurozone all likely to affect exchange rates. Tuesday to Thursday are likely to be the busiest days, particularly Tuesday morning when monthly UK inflation figures are released. Any further fall in inflation rates is likely to reduce the value of sterling, and US Dollar and Euro Exchange Rates still look vulnerable to any other negative news in the UK. Data Releases This Week: Monday 11th 1315 – Canadian new house builds Tuesday 12th 0700 – German CPI inflation 0930 – UK RPI & CPI inflation, trade balance and house price index 1330 – US trade balance 1900 – US Federal Reserve interest rate minutes Wednesday 13th 0130 – Australian consumer confidence 0930 – UK earnings and unemployment rate 1000 – Eurozone industrial production 1900 – US monthly budget statement 2345 – New Zealand GDP Thursday 14th 0900 – ECB monthly report 1000 – Eurozone CPI inflation 1330 – US retail sales, jobless claims and PPI inflation Friday 15th 1330 – US CPI inflation Forward Contracts... With the Pound currently suffering and the outlook over the summer being poor with UK interest rates set to stay on hold, don’t forget you can fix a rate now for your currency to be available any time over the next 2 years using a Forward Contract. Only 10% of your sterling needs to be available now, with the remaining 90% due when you want your currency to be sent. Remember 1Casa will beat the best rate quoted, Guaranteed... Cristina Sanchez, info@1casa.com, 1casa.com, Call us from UK on 0843 207 86 32  From Spain 952 49 5509, tell me what data you need if it is not here...