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It’s been a busy week for economic releases, and the dollar has gained ground against the pound as a result. With more US data due today and a packed week ahead, markets remain alert.
The day began with Spanish GDP data, which came in slightly stronger than expected – a positive sign for the Eurozone’s fourth-largest economy. While the impact on the euro has been modest, it adds to a string of encouraging figures across parts of Europe.
Later today, markets will be watching two key US data releases:
These reports will help provide a clearer picture of the strength of US consumer activity heading into the end of the quarter.
Yesterday’s data out of the US included:
All three sets of figures largely exceeded expectations, helping to lift the dollar. As a result:
The stronger dollar reflects growing investor confidence in the resilience of the US economy.
Next week closes out the month with a flurry of economic data and central bank speeches:
Monday:
Tuesday:
These releases are likely to drive increased market volatility, particularly for EUR, GBP and USD currency pairs.
With currency movements driven by complex global data and central bank policy shifts, now is the time to stay proactive.
For expert insights on protecting your business from FX risk or taking advantage of short-term market opportunities, speak to a Qu Money specialist today.
