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By ASP

The Bank of England and the European Central Bank will be releasing their interest rate decision today. Many people are expecting the ECB to lower interest rates by 0.25% which could cause Euro weakness. The ECB interest rate decision is at 12:45 and if they do lower interest rates it could be overshadowed by the BofE interest rate decision. Whenever we have an interest rate decision we also have the release of any further quantatitive easing. The BofE recently announced another round of QE at £75bn which caused over a 1% weakness on Sterling. There are whispers of further QE to come and if we do see that happen today it will almost certainly shift the markets. If you have any currency needs at the moment regardless of the currency required please get in touch with me on asp@currencies.co.uk to ensure you have the necessary contracts in place to mitigate any potential risk you’re facing.

By ASP

An EU summit is due for Thursday/Friday this week where it is expected that changes to the EU treaty will restore confidence in the Eurozone and set them on the road to recovery. I would therefore advise any clients with a Euro requirement to buy out there position before Thursday to ensure you aren’t subject to adverse market movements.

You can contact me to discuss the options available to you via asp@currencies.co.uk or register for a trading account via http://www.currencies.co.uk/register/

By ASP

The Bank of Japan last night warned the country’s growth could be harmed by the continuing Eurozone debt crisis, the flooding in Thailand and the strength of the Yen. The Eurozone crisis has slowed the demand for Japanese goods in Europe. This combined with the disruption to supply chains following the floods in Thailand have resulted in a bleak outlook for the future.

As the JPY continues to strengthen, exporters goods will continue to become more expensive and therefore it is likely even less will be purchased in the coming quarters. If you have a need for JPY in the short terms please contact me on asp@currencies.co.uk

By ASP

This week we have a range of data releases which will dictate where exchange rates go in the short term. Tuesday is a particularily busy day with inflation figures for the UK, interest rate decision minutes for the reserve bank of Australia, GDP figures for Germany and GDP figures for the Eurozone. You can keep track of these data releases via this link. Alternatively please contact me via asp@currencies.co.uk to set up an account and be kept updated with any data releases that could affect your currency transfer.

By ASP

The FED governor Ben Bernanke will be giving a press conference to show how the Federal Reserve Bank views the current state of the US economy and the current value of the USD. These kind of press conferences presented by the heads of central bank normally cause a kneejerk reaction and is likely to determine the short term trend for the USD.