Sterling at lowest level vs the euros since 2013 – data-heavy week ahead

A poor end to the week saw sterling slip to the lowest level against the euro since July 2013, surpassing the post Brexit low, while also losing ground against the US dollar. Following a tumultuous week for the currency, sterling markets will hope to see some stability return with a number of economic data releases due from the UK. Tuesday kicks things off with the latest inflation figures, which are expected to have remained at 0.5% throughout the previous month.

Attention will remain on sterling throughout Wednesday as the latest labour data is released from the UK. Average earnings should continue to show a steady increase over the previous quarter, while unemployment is expected to remain at a 10-year low of 4.9%. Thursday’s retail sales figures will round off the week with marginal growth forecast throughout July. This raft of data coming through this week brings with it potential risk.

If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.