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This week's exchange rate news

Posted by Catherine Deshayes on Monday, January 25, 2010

Last week saw a sustained positive run for sterling against many currencies, most notably giving the best Euro exchange rates since August last year...

Monday's house price increase, Tuesday's positive inflation data, and Wednesday's unanimous vote from the Bank of England on monetary policy, meant that the Pound enjoyed a rare week of strength. Even Friday's worse-than-expected retail sales figures could not dampen appetite for sterling significantly.

This week, all eyes will be on Tuesday's GDP figure, which will show whether or not the UK is technically out of recession. A very positive GDP figure is likely to give the Pound a boost across the board, while a negative figure could be very damaging indeed.

Further afield, if you are sending money to Canada then look out for local GDP figures on Friday, and those of you who need to send New Zealand Dollars should be aware of the interest rate decision there on Wednesday evening. Otherwise there is not a huge amount of important news due out.

This week's economic calendar:

Monday 25^th

7am - German consumer confidence

Tuesday 26^th

9am - German business climate survey

9.30am - UK GDP first estimate

3pm - US consumer confidence

Wednesday 27^th

12.30am - Australian CPI inflation

6.15pm - US interest rate decision

8pm - New Zealand interest rate decision

Thursday 28^th