Markets have eased into the week with a relatively calm start, with limited data releases on the calendar for today. However, attention will quickly turn to key developments in both the US and Europe.
US Data in Focus: Retail Sales & NY Fed Survey
This afternoon, investors will be watching the NY Fed State Manufacturing Survey, which is expected to show a decline from the previous month. Should the data underperform, it may place further pressure on the US dollar.
The more significant release will be US retail sales figures, forecast to rebound to +0.6% following a sharp -0.9% drop the previous month. A stronger-than-expected print could lend support to the greenback and influence the Fed’s next steps.
Euro Strengthens on German Spending Plan
Over the weekend, the euro gained ground after Germany’s ruling parties agreed to a major fiscal stimulus package. The plan is set to unlock public spending worth approximately 2% of GDP annually over the next decade, with a focus on infrastructure and defence—potentially boosting growth across the eurozone.
Central Bank Updates Ahead
Looking ahead, markets will be closely monitoring interest rate decisions from both the Bank of England and the US Federal Reserve. The BoE is widely expected to hold rates steady at 4.5%, while the Fed’s policy update later in the week will be the main event for global investors and currency markets alike.
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