27th November

Top Currency Pairs Monday 27th November 04:00 UTC GBP/USD: 1.26060 (Last Week: 1.24853) EUR/USD: 1.09458 (Last Week: 1.09239) GBP/EUR: 1.15168 (Last Week: 1.14293) Market News

Pound Sterling The British Pound rose to a more than two-month high against the U.S. Dollar this morning, extending its gains from last week. The move comes data showed that British companies unexpectedly reported a marginal return to growth in November after three months of contraction. Ultimately, the British Pound was on track for a roughly 3.8% gain for the month, its largest monthly gain in a year.

Euro The Euro steadied this morning, consolidating its recent moves as market participants await a slew of data in the coming days. The most important data release for the week is Eurozone flash CPI inflation for November, due Thursday which is expected to show further falls in the headline and core measures to 2.8% and 3.9%, respectively.

U.S. Dollar The U.S. Dollar lost further ground and was on track for a 3% loss this month – its worst monthly performance in a year – as markets await key economic readings from the country this week. PCE price data – the Fed’s preferred inflation gauge – is due on Thursday, as is a second reading on gross domestic product for the third quarter. Any signs of cooling inflation and economic growth are expected to further bets on a less hawkish Fed, denting the U.S. Dollar.

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