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By ASP

For any clients with CAD requirements it is essential you keep in close contact with your account manager. At 12:00 we will see the release from the Bank of Canada on their interest rate decision. It is currently at 1% and is expected to be kept at 1% however any deviation from this will surely cause market volatility.

To be kept up to date with breaking news that could affect your exchange rates please contact me on asp@currencies.co.uk.

By ASP

Yesterday we had the minutes released for the Bank of England interest rate decision. Within these minutes we found that their had been a unanimous vote in favour of another round of Quantitative Easing. This was a bit of a shock to the market as it was expected we’d see a split decision on another QE program however this decisive action only added to investors confidence that the UK are better prepared than most for further Eurozone turmoil.

Today the National Statistics will be releasing the UK retail sales figures. These figures are used as a good indicator of consumer spending and generally and increase in spending is seen as positive for Sterling. Retail sales figures are expected to contract YoY from 0.6% to 0% however any deviation from this will surely cause market volatility.

By ASP

Today we will see the release of UK CPI (Consumer Price Index) data. CPI is used as a key indicator of inflation and with the recent Quantitative Easing a lot of investors will be looking to this data to give some indication to the future.

CPI is expected to be at 4.9% up from 4.5% YoY however any deviation from this will cause market volatility. Please contact me at asp@currencies.co.uk to discuss your individual requirements.

By ASP

At 9:30am UK GMT Wednesday 19th October we will see the Bank of Englands minutes from the previous interest rate decision. This data release will give us a good insight into the breakdown of the voting and the likelyhood of further Quantitative Easing.

Seeing as we had £75bn pumped into the economy via QE at the last interest rate decision I’m sure these minutes will cause a lot of volatility. Should you have an upcoming requirement please contact me on asp@currencies.co.uk to ensure you have the best contract type allocated to you to minimise your exposure to these uncertain markets.

By ASP

On Tuesday Slovakia’s parliament voted against the proposed plans to bolster powers of the eurozone bailout fund. Many Slovaks believe they shouldn’t have to bailout wealthier nations and as they are the second poorest in the euro zone their comments rattled confidence in the markets.

Suprisingly last night Slovakia managed to agree to the 17 nation €440bn strategy although my fears are that it is all too little to late. Should Greece not get the funding they require we could see a Greece default very soon which could cause contagion and a collapose in the global economy.

Should you have a Euro requirement it is essential you have an account manager that can keep you up to date with all relevant data and trends to take advantage of. Please contact me on asp@currencies.co.uk