020 7898 0500All major currencies, other than the US Dollar, strengthened slightly against sterling on Thursday. There was little data of any note released across the commodity currencies so this movement was due to sterling weakness, rather than external influences – as the Bank of England’s (BoE) Monetary Policy Committee (MPC) voted unanimously against an interest rate decision, compared to the previous 8-1 vote we have seen for the past six months.
Overnight we have had the Monetary Policy statement from the Reserve Bank of Australia, alongside retail sales data that was expected to show an increase from 0.4% to 0.5%. This afternoon, all eyes are on Canada, who at 1.30pm release their Trade Balance Figures, Employment Change and Official Unemployment Rate. None of these are expected to show much change, however Canadian employment change has been straying heavily away from forecast figures throughout the last quarter. Should these releases move away from forecast figures, we could be in for some volatility.
Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.
