Currency Note Sterling

Is this the calm before the storm for sterling?

By Smart Currency October 9th, 2013

Sterling had another quiet day yesterday but it feels very much like the lull before the storm as we all await what will happen in the US and whether or not the US will default on their debt and goodness knows what will happen to sterling if the US do default. As a result of the lull sterling is trading within a narrow range against most of its major trading partners. Today however could spark greater volatility as the first major data of the week for the UK will be released this morning in the form of the monthly manufacturing production data. Alongside this, we also have data from the Bank of England’s detailing the current credit conditions in the UK, Trade Balance figures showing the difference in value between imports and exports, whilst the National Institute of Economic and Social Research’s (NIESR) will release its growth estimates for the last three months. After the timid start to the week, this raft of data could bring some volatility to the sterling, so call your trader now for the latest on the markets.