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By James Matthews

Canadian Dollars continued to gain against the Pound yesterday and closed at a week low – a 2.5% loss against the week high against the Pound.

Leading Indicator figures and Wholesale sales are both out today at 13.30 and this could be a big day for the GBP / CAD pair, with four or five important data sets out for the UK at 9.30 this morning. If you are looking at either buying or selling Canadian Dollars keep in touch with one of our currency brokers, or email me directly at jfm@currencies.co.uk.

By Myles Birkett

US Mortgage application figures were released yesterday with some interesting results showing a huge improvement since the last figures were released. The figure climbed to 13% over a previous 0.6%. This is surely a sign of a recovering US housing market and this could directly impact the dollars strength in its favour,  leading to a potential spike against many other currencies today.

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By James Matthews

Yesterday saw the Pound lose ground against all 16 major currencies on a day where CPI data was the standout dissapointing figure. The figure of 3.1% remains over the BoE target figure of 2% for the 8th month in a row.

It is unlikely that the BoE minutes (released later today) will show any other board members voting for an interest hike – other than Andrew Sentance. If this is the case, as expected I would predict another fairly poor day for the Pound.

Although today is likely to be the calm before the storm for the Pound with a flurry of data due for release tomorrow, including Retail Sales, Public Sector Net Borrowing and most importantly Money Supply data. With the latter thought to show decline along with Retail Sales it would suggest that Thursday could be another tough day ahead for the Sterling. Perhaps the Public Sector Net Borrowing figure could be a saving grace showing a huge decrease from £14.5B to £5.1B.

Potentially the data sets on Friday could see another very torrid day for the Pound, if you are looking at selling Pounds get in contact as soon as possible to discuss your transfer with one of our Currency Brokers on FREEPHONE 0880 328 5884.

By Myles Birkett

With the pound weakening against most currencies yesterday, I am expecting the same today.  The reason for this being the release of  the August minutes, midday today, from the Monetary Policy Comittee’s. If the indications are that the  level, o.5%, will remain at an all time low then I expect to see the pound suffer further than it did already yesterday.

Rather than waiting for this to happen and your trade needs to happen today then please use the contact forms below to have somenone contact you before midday.

By Myles Birkett

The UK CPI and RPI data release this morning has shown us the change in price of goods and services Year on Year. CPI and RPI are attempts to estimate inflation in the UK, they are measured on slightly different goods and services so they often have slighlty different figures.

Consumer Price Index – The government base their inflation targets on this.

Retail Price Index – This is the better known figure in the UK mainly due to the fact Unions use this a benchmark foragreeing pay settlements.

The figures released this morning showed that inflation was under target, thus meaning interest rates will be staying lower, leaving the pound a much less interesting proposition for investors within the UK. The pound has actually lost ground against many currencies today. For example GBP/Euro is down 1.07 % form the start of the day.

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