Buy Euros Best Rates Today

UK Labour Market and Inflation report should set the tone today for the Pound.

US Dollar exchange rates

In the US today we have the retail sales for July which should provide some further insight into the prospects for the US economy in the third quarter. Markets are expected a month on month rise which should provide the USD with some support.

GBP

There are a number of key highlights this morning with the first of these been the labour market data for the UK. This will cover the unemployment rate, employment and average earnings. Markets are expecting unemployment to have fallen by 125k in the three months to June, slightly more than last months 121k fall. It is also expected that employment will post growth of a 285k rise reflecting the strong readings of PMI’s over Q2.

The big market mover for the pound could be the Bank of England’s quarterly inflation report due at 10.30am. The bank will deliver its latest forecasts for GDP and inflation. Due to the softer inflation in Q2 it is expected that inflation could fall lower for both this year and next. The key metric to look out for will be the banks latest estimate of economic slack.

Buying Euros

The only Euro data today of any real note is the Industrial Production readings for June. A rise is expected to 0.4 percent.