Sterling
Sterling slipped away a little on Friday, breaking through 1.51 and 1.16 against the US dollar and euro respectively. This week is a lot livelier on the news front than last with influential releases coming most days. Tomorrow sees annual CPI figures as well as other inflation data. On Wednesday markets get further insight into how the new Governor of the Bank of England will run his bank with the release of the minutes from the first meeting under his charge. On Thursday we have Retail sales figures, a key indication of consumer spending and growth in the country, markets will keep a keen eye on the release though the forecasts are not overly positive. Call your trader this week for the very latest news, and up to the second rates for sterling.
Euro
The euro stayed broadly flat through Friday's trading in spite of somewhat disappointing manufacturing production figures. The major events this week are an influential German economic sentiment survey released tomorrow morning which is expected to show increased optimism. A bond auction on Thursday will show how much it costs the Spanish government to borrow money , but little else is scheduled to be released. Get in touch with Smart this week for an update on where the euro is trading right now.
US dollar
The US dollar got back into the groove on Friday as markets came to realise that, whether or not tapering of quantitative easing is to happen right away, the trend of monetary policy either side of the Atlantic appears to be moving in opposite directions. Those hoping for last week's excitement to have died down may well be disappointed with influential data being released most days. Today is retails figures, tomorrow inflation and Thursday sees Federal Reserve Chairman Bernanke speak again. Last time he spoke the US dollar dropped 2.5 cent - markets will certainly be nervous as he takes the stage again. Call us today for a live rate on the US dollar.
Worldwide
Elsewhere the biggest loser on Friday was the Australian dollar, slipping 1.5% against its American counterpart. Overnight tonight eyes will look south again, with quarterly inflation figures from New Zealand, and the minutes from this month's Australian Monetary Policy Committee meeting. Later in the week, no change is forecast when the Bank of Canada announces its interest rate decision, and their new governor steps into Mark Carney's old shows and hosts a press conference. Call Smart today for the latest news, and live quotes, for your currency.
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