The Pound is being hampered by Brexit and slightly mixed economic data, the US Dollar has dropped off, and the Euro has strengthened. What’s next for GBP exchange rates?
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It’s been an eventful week for the US Dollar with comments from Donald Trump regarding the violence in Charlottesville having replaced issues with North Korea in the headlines. Next week we could see some volatility around the Jackson Hole Symposium.
The latest Canadian inflation figures for July are due to be released today and the expectation is for a slight improvement on last year. How could this affect the GBP/CAD exchange rate?
The latest Eurozone inflation data was released this morning and showed the expected 1.3%. With inflation at the same rate as the previous year, does this reduce the likelihood of the ECB tapering stimulus measures?
Donald Trump continues to put pressure on the USD with his controversial statements directed at North Korea. The release of US housing market data has not offered much in the way of support as reports shows an unexpected drop for July.
Following the release of this month’s retail sale figures coming out as 0.6% better than last month, those with US Dollars to sell have had some good opportunities today.
With UK inflation data coming in at the same rate as July and below the expected 2.7% the Pound has slumped at an 8 year low against the Euro. This comes in the wake of Morgan Stanley predicting that the GBP/EUR rate could hit parity in 2018.
With a rise in the inflation rate driving the potential of an interest rate hike tomorrow’s CPI data will be eagerly watched, and could impact Sterling value.
With the RBA dovish on an imminent interest rate hike and sentiment towards the Australian Dollar turning slightly negative, what does the next week have in store for the GBP/AUD exchange rate?
Following a mixed week for the Pound, it remains very much under pressure against the major currencies. What does next week have up it’s sleeve for GBP exchange rates?
US inflation data expected today could give some indication of the likelihood of an interest rate hike in the near future. With potential conflict with North Korea in the headlines there appears to be some caution around the US Dollar.