Sterling has been drifting south against the euro and most other major currencies since yesterday evening, although it has remained steady against the US dollar.
Such a gentle start might not be the pattern for the week, however, with a lot of interesting and potentially market-moving data coming down the track. So do consider a forward contract early in the week if you have upcoming currency payments that could leave you exposed. To start off with it’s all about the central bankers, with several of the Bank of England Monetary Policy Committee (MPC) members making speeches today and tomorrow.
On Wednesday morning we’ll get the all-important inflation figures, on Thursday is PMI and on Friday both Gfk Consumer Confidence and Retail Sales.
Data is about all that will be coming down the track this week, with the biggest rail strike for generations stopping almost all trains in the UK. Fortunately such events no longer affect businesses like ours. Working from home is simple and those that want to walk or cycle into the office will enjoy the summer sunshine. So if you’re not commuting this week and have some extra time available do give us a call on 020 8108 5163 to talk through your plans and see how we can help.
Speaking of working from home, our partner Property Guides has been surveying its readers, and I note that of the 40% or so buying a holiday home abroad, rather than retiring or purely investing, over 70% intend spending at least two months of the year there, and 47% either will or ‘might’ work from home in their overseas property. It’s clear we’re living in a very different world these days!
If you’re one of those, do talk to your trader about how we can manage payments between countries, for example with a regular payments plan.
