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Battle of the Euro against key data releases
18 March 2014

This week has already been a flying start for the currency markets; Sterling seems under its own steam to achieve current levels ahead of the Bank of England minutes and unemployment rates, which has increasingly become analyst’s favourites to watch as a game change of interest rates in 2015. 

Yesterday gave us some data, which has effects on their respective currency. The EU CPI came in with a 0.3% growth in February (MoM) up from a belated 1.1% to the previous month and adding to a staggering 0.7% on inflation. However, European Central Bank President Mario Draghi still remains heavily upbeat about inflation despite a growing concern within the Eurozone that deflation could become a reality rather soon. Look backing back a few months ago there had always been so much scepticism to the reality of further interest rate cuts. But this news will be welcomed with open arms. 

As we start today on the currency markets we await the battle of the EUR/USD at 10.00am GMT with trade balance data and economic sentiment figures for the Euro zone. Following hot on the back of these key data releases at 12.30pm we see US CPI figures due out which is expected to rein in at a 0.4% lower at 1.2% growth on a year on year basis.

The main anticipation in the UK for data will be held to Wednesday. Bank of England governor Mark Carney will take centre stage later on today giving a talk at 5.45pm ahead of the release of the bank’s usual minutes release. The ears of the market will be tuned to see what the governor will give away in regards to forward guidance on the recovery of the UK and the Bank’s proposals in the future to continue a forward thinking plan. Don’t forget you can always send international payments simply and fast by speaking with one of our dedicated currency brokers.

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