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Today could be a fairly quiet start to what could be another volatile week with big data releases for all of the covered currencies on this site.

UK GDP figures are due out at 9.30 a.m. tomorrow morning and should be the main driver for the Pound this week. A strong GDP figure for the UK should see the Pound break through a three month high against the US Dollar and into the 1.60s.

Similarly Canadian GDP is released at 13.30 on Thursday and we can expect a similar impact to the UK figures to move the Canadian markets.

Perhaps most importantly this week, US Annualized GDP figures are due out 13.30 on Thursday and are likely to move the US Dollar market significantly. GDP is generally measured quarterly and so these figures are likely to be more accurate than the Canadian and UK figures, which are monthly. Expect a strong figure to rally the Dollar against early week losses, or a worse than expected figure to trigger a potentially very attractive buying opportunity.

If you are looking at buying any of these currencies this week keep a close eye on these Data Releases, or to cover yourself from any of these movements lock in a forward contract now. Contact me on FREEPHONE 0800 328 5884 or jfm@currencies.co.uk.