We continue to be in the summer doldrums with sterling having a fairly steady day on Friday with trading volumes remaining relatively low and a lack of any significant data being released. This week, the main release will be the revised GDP figures and market expectations suggest that the preliminary figures of -0.7% will be revised to -0.5%. Other data released this week will be the public sector borrowing figures and data showing the change in the asking price of homes for sale. So in theory it should be a quiet week for sterling but the one problem with low volumes is that any surprises can have a disproportionate effect on exchange rates and we have seen over the last few weeks how quickly there can be a two cent movement. Call in now for the latest rates.

The euro had a mixed day on Friday as monthly Producer Price Index (PPI) inflation data from Germany came in flat when a 0.4% increase had been anticipated. Other statistics showed that current account and trade balance figures were better than estimated; whilst, Spanish and Italian bond yields had dropped providing some respite for the euro in general. This week, Europe wide manufacturing and services Purchasing Managers' Index (PMI) will be the main news on the economic agenda and should give further indication of the state of the economy’s of the nations across Europe. Call in now for the latest news.

The US dollar was fairly strong on Friday as consumer sentiment index figures came in above market estimates. A busy week for data in the US will be headlined by the release of the Federal Open Market Committee (FOMC) meeting minutes which should give some insight into the central banks potential for loosening monetary policy in the near future. Other data includes statistics showing the number of new and existing homes sold in the previous month, the change in the number of new people claiming unemployment benefits and data showing the change in the total value of new purchase orders placed with manufacturers for durable goods. Get the latest news by calling in.

Elsewhere, the Canadian dollar struggled on Friday as CPI inflation data missed expectations posting a deflation figure of -0.1% when inflation of 0.2% was anticipated. This week, a raft of data from Australia includes the latest monetary policy meeting minutes from the Reserve Bank of Australia (RBA) and the Governor of the RBA is also speaking. Other data this week includes Canadian retail sales figures, inflation expectations from New Zealand and Chinese PMI data. Call in now for the latest news and a live quote.

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