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 October 2023 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.
But that's not all—we'll also introduce you to Equals Money's international payments service, your trusted partner for fast, seamless, and secure currency exchange.
Read on to stay informed and discover how we can empower your international financial transactions.
The trend in recent months in the FX space has been one of focusing on growth differentials and this week's job numbers from the US will be key in backing the soft landing narrative over in the US. Another set of resilient numbers are expected which should see continued longer demand for the US dollar.
The Fed's (Federal Reserve) battle with inflation will be in focus for week two of the month, with expectations that both the core and headline number set will ease further despite a rise in energy costs. UK growth will be eyed to gauge recessionary concerns in the UK and whether a lower number continues to pile the pressure on sterling.
There is a strong belief that both the BoE (Bank of England) and ECB (European Central Bank) are now at the end of their interest rate hiking cycle and week three’s attention will fall on whether the market are correct in thinking that these two central banks are done. Energy prices have been rising recently, so there is potential for upside surprises.
The first estimates of economic growth in the third quarter are due in this week. Growth in the second quarter came in at 2.1% and further uplift will likely support the US dollar on growth rate differentials.
Now that you're aware of the key economic events taking place in October 2023, let's talk about how Equals Money can elevate your international payments experience. Our service is designed to make your life easier and your 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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