Weekly Market Headlines:
It’s shaping up to be a busy week in the currency markets following the bank holiday. Get in touch with the Lumon team for the latest market insights.
- On Wednesday morning, Eurozone retail sales data will be released. Markets are expecting 1.6% growth, if the figure comes in higher or lower, we could see some volatility in the euro, which might affect the value of any upcoming transfers.
- Later that evening, attention turns to the US, where the Federal Reserve will announce its latest interest rate decision. There’s a strong possibility of a rate cut, which could lead to broad movement across global currencies, including the US dollar.
- Then, on Thursday, the Bank of England is due to reveal its own monetary policy decision. A rate cut is widely expected, and any accompanying commentary could move the pound. For example, on a £100,000 transfer, even a 1% shift in the exchange rate could mean a difference of £1,000 in what you receive.
With so many key announcements in just a few days, the markets could move quickly. If you’re planning an international transfer soon, now might be a good time to speak to a Lumon currency specialist today. Call +44 (0)204 506 5672 to explore your options.
What’s happening this week?
EUR
- Wednesday: Eurozone retail sales data.
USA
- Wednesday: US Federal Reserve announces its interest rate decision.
UK
- Thursday: Bank of England will reveal its latest monetary policy decision.
