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This week's exchange rate news

Posted by Catherine Deshayes on Monday, November 16, 2009

After last week's Bank of England inflation report, more key inflation data this week is out in the UK, USA and Canada. As inflation is a major driver of interest rate policy, which is one of the most important factors in exchange rate movements, look out for these releases particularly if you are sending money to Canada or the USA...

There is very little European data this week, so Euro exchange rates will likely depend on the raft of UK data, including the Bank of England minutes on Wednesday.

These will show the split of the Bank's policy committee, which decided 2 weeks ago to extend the quantitative easing programme by £25bn.

The report will be eagerly anticipated for clues as to any future easing - if the market anticipates more money being injected into the economy, the Pound is likely to suffer.

Sterling is still vulnerable to any negative economic data, but consolidation in the last couple of weeks has given current mid-market rates back above €1.10 and $1.65, which may be as good as can be expected in the overall economic climate.

Monday

0900 - Rightmove house price index

1330 - US retail sales

1715 - Federal Reserve Chairman Bernanke's speech

Tuesday

0930 - UK CPI and RPI inflation

1000 - Eurozone trade balance

1330 - US PPI inflation

1415 - US industrial production

Wednesday

0930 - Bank of England minutes

1100 - UK industrial trends survey