Top Currency Pairs Monday 13th November 04:00 UTC GBP/USD: 1.22278 (Last Week: 1.23755) EUR/USD: 1.06861 (Last Week: 1.07343) GBP/EUR: 1.14427 (Last Week: 1.15292) Market News
Pound Sterling Following last week’s run of five consecutive daily losses against the U.S. Dollar, it is hard to describe this British Pound’s outlook. Nevertheless, this is a week with significant data releases, which could yet underpin the Pound and prevent any major breakdown. The week's highlight is Wednesday's inflation report with the market preparing for a sizeable drop to 4.5% YoY, from 6.7%.
Euro The Euro rose from last week’s lows, with ECB official Luis de Guindos scheduled to speak later today, giving the keynote speech to kick off Euro Finance Week. This follows last week’s speech by ECB President Christine Lagarde who stated that rates will stay restrictive at least for several quarters as inflation remains elevated, but the economic outlook within the region remains weak.
U.S. Dollar The new week has started with the U.S. Dollar on the backfoot as investors await tomorrow’s release of the U.S. consumer price data for October. This will shed light on the Fed’s progress in its battle to keep lowering inflation from last year’s multi-decade highs. Ultimately, inflation is expected to have risen by only 0.1% on a monthly basis.
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