Sterling has made small gains since yesterday against the Euro, with rates spiking at around 3am this morning.
This is always worth remembering as a well placed limit order can go a long way toward saving you money on your currency exchange. To find out more you can email me ajm@currencies.co.uk or fill in the form on the right. I've had several client benefit from overnight volatility in the market which is great news.
Today the key market movers to look out for are mainly from Canada, with CPI data out at 12:00 and retail sales data out at 12:30. Both could have some effect on GBPCAD if they vary significantly to expectations.
The only data of note for sterling euro has just been released from Germany. IFO business climate is widely watched as an early indicator of current conditions and business expectations for the next half year. Business leaders’ rate the future outlook as better, same, or worse and today’s figure has been released showing better than expected outlook in Germany. This looks to have caused some euro strength initially, with the single currency making small gains vs. sterling and the US Dollar.
Bearing in mind we have no other data of note out for sterling today, I'm expecting either a flat day, or possibly some small gain for the pound. I think some currency investors who have been profiting from sterling’s recent losses, may 'take their profit' and buy back into sterling causing the price to rise.
0 comments:
Post a Comment