When it comes to navigating the complex world of foreign exchange and international payments, knowledge is your best ally. That's why we've compiled a guide to the key dates and events in for February 2024 to be aware of when making cross-border payments.
Whether you're a seasoned trader or just dipping your toes into the financial waters, understanding these economic events can make a significant impact, and allow you to make informed financial decisions.
Read on to stay informed and discover how we can empower your international financial transactions. See our Economic Calendar for February 2024 here.
The Bank of England MPC (Monetary Policy Committee) will once again likely vote to keep interest rates unchanged. The markets will be closely scrutinising the accompanying statement and press conference for clues as to the timing and magnitude of future interest rate cuts.
This month’s US Employment Report will be closely monitored by market participants for signs of potential slowing of hiring and perhaps (of more significance for the Fed (Federal Reserve) a reduction in wage inflation.
The Reserve Bank of Australia will likely keep interest rates on hold this month, following domestic inflation data that was much weaker than forecast and a worsening economic climate out of China (their biggest trading partner).
A busy week for tier 1 UK economic data in the form of employment and inflation data will be of major significance to the BoE (Bank of England), as they look for signs that their aggressive rate-hike policy is firmly bringing inflation back towards their 2% target. Markets will be looking for US inflation data also set to be released this week to continue its recent downward trend.
The FOMC minutes released this week, will no doubt reveal more of the Fed’s take on how their current, restrictive monetary policy is slowing inflation, and may well offer further clues regarding the timing of when the Central Bank will cut interest rates.
Released this week is the US Core PCE (the Fed’s preferred measure of inflation ), and is one of the most important metrics monitored by the Central Bank. As such, it has the power to significantly influence the US dollar.
Now that you're aware of the key economic events taking place in February 2024, let's talk about how Equals Money can elevate your international payments experience. Our service is designed to make your life easier and transactions smoother.
- Competitive rates: We offer competitive exchange rates for over 140 different currencies to ensure you can get the most of out of each transaction when converting currencies or making cross-border transfers.
- Tried & trusted: Since starting in 2005, we've helped our customers move and manage over £10 billion around the world.
- Fast payments: With connections to SWIFT, UK Faster Payments, and SEPA, make same-day and next-working-day transfers to make sure your money reaches where it needs to promptly.
- Range of solutions: Make payments using our full portfolio of options such as spot trades (a one-off instant transfer using the live exchange rate), forward contracts (fix a current exchange rate for a future transaction up to 24 months in advance), and more.*
- Currency expertise: You'll get the support and expertise of a specialist currency account manager who can help you put together a strategy for overseas payments.
In conclusion, staying informed about key economic events and dates is vital for making informed financial decisions. Whether you're monitoring GBP, EUR, or USD, these dates can significantly impact your currency exchange rates.
Get in touch or request a quote today to learn more about our full suite of solutions.
*Equals Money can only offer forward contracts to facilitate payments for goods and services.
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