This week, in theory, should be a quiet one for sterling with only one major data release and that is on Friday. Last week sterling ended on a pretty flat note against the euro, close to recent highs, but lost ground against the US dollar, against which it continues to move in a fairly narrow range.
However the quiet week could be disrupted by the Chancellors Autumn Statement and Forecast which takes place on Wednesday, which is expected to be contentious given all the cuts in public expenditure the Chancellor is hoping to drive through. The main data release is not until the end of the week when the Second Estimate of Gross Domestic Product for the third quarter is released. Expectations are for no change from the first release.
If you are looking to buy or sell sterling, make the most of the current favourable rates – contact your trader now for live rates and to discuss currency purchasing strategies.