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This week's currency news

Posted by Catherine Deshayes on Monday, March 01, 2010

The Pound has been falling at an alarming rate, following Friday's weak GDP revision (showing last year's economic contraction was even bigger than expected) and new worries about Quantitative Easing.

On Thursday, the Bank of England is expected to announce no change to interest rates or QE policy, but any signs that more funds are to be pumped into the economy are likely to give the Pound a further knock. In virtually all currencies, sending money overseas is becoming rapidly more expensive due to falling exchange rates.

Elsewhere we have important figures out in Australia overnight on Monday, Tuesday and Wednesday, including an interest rate decision. For those of you looking to emigrate, your money transfers to Australia do not look like getting any cheaper unless there is some negative data out to weaken the AUD.

We also have key unemployment news in the Eurozone and USA this week, so it is likely to be a volatile few days. Keep in touch with your currency broker for the latest news, and remember that it is possible to secure your exchange rate up to 2 years ahead to avoid exchange rate risk.

Monday 1st
0900 Eurozone PMT inflation
0930 UK mortgage approvals
1000 Eurozone unemployment rate
1330 Canadian GDP
1330 US personal consumption & spending

Tuesday 2nd
0330 Australian interest rate decision
0645 Swiss GDP
1400 Canadian interest rate decision

Wednesday 3rd
0030 Australian GDP
0700 German retail sales
1000 Eurozone retail sales

Thursday 4th
0030 Australian trade balance
1000 Eurozone GDP
1200 Bank of England interest rates & quantitative easing
1245 Eurozone interest rate decision
1330 US jobless claims

Friday 5th
1330 US average earnings, non-farm payrolls & unemployment rate.

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