Ending last week on a high against the euro and US dollar, sterling starts the week holding its own. Sadly, this is more than can be said for England Rugby, who lost against Ireland on Saturday in a tough match. Or for the stock markets around the world who continue to lose ground following the fallout from the banking crisis.
Last week economists had a lot to digest in terms of data and economic news. Key talking points included Jeremy Hunt’s Budget on Wednesday and when the European Central Bank raised interest rates by 0.5% on Thursday.
This highlights just how many factors are in play throughout the world and how volatile the currency markets can be. If you’re looking to protect any upcoming transactions against the risks of sudden movements, call your Personal Trader on 020 7898 0541 to get started.
On Wednesday, the UK’s inflation rate is expected to fall from 10.1% to 9.7%. Whether it’ll get to Prime Minister Rishi Sunak’s goal of 2% by year end remains to be seen. The Federal Reserve is also due to deliver the US interest rate decision on Wednesday, which is expected to rise by 0.25%, less than previously forecast but considered appropriate given the recent bank failures in the US.
Into that mix we also have a few more potentially market-moving data due this week, including an interest rate decision from the Bank of England, UK consumer confidence and retail sales.
If this data seems a bit overwhelming, have a chat with your Personal Trader this morning to discuss the option of a forward contract, a service that allows you to lock in the current rate for up to 12 months.
Finally, an unmissable event for aspiring overseas buyers is just days away. The Your Overseas Home virtual property event is free to attend on Saturday 25th March. Speak to property experts from France, Spain, Italy, Portugal, Cyprus and Greece to put your essential plans in motion. Get your e-ticket here!
