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  • 07OCT
Currency Market - The Week Ahead
 

USD: We saw the dollar weaken slightly on the back of  the US job report data. Figures came out less than expected. Markets turn to the US inflation data out this week, depending on the outcome we may see levels retract back or weaken further.
AED will naturally move in the same direction as its pegged to the USD
 
GBP: There is a busy UK release calendar, the highlight of which is the publication of the ONS estimate of GDP for the 3 months to August. Leading indicators, such as the UK PMIs, point towards a continued solid pace of growth. Indeed, the consensus forecast is for strong growth in GDP of 0.6% in the period, unchanged on the rate recorded in the 3 months to July.
Therefore we may see the pound gain if figures are good, however Brexit still remains the dominate factor when it comes to sterlings movement. There may be a short term opportunity for those GBP sellers.
 
Euro: We have seen slight Euro weakens on the back of Italy's budget deficit.
This week  we have second tier data out that may lead the euro  to drop slightly further.

Written By: 
Sarah Duthie
IFX - Account Manager 
7th October 2018

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