Gloomy economic outlook weighing on pound

It was not a particularly good week for the pound last week, with the outlook for the economy taking another knock from the latest data releases. There was plenty going on in the US to rock the major currencies across the board as well.

GBP/EUR is today on the rise, climbing 0.2%, while GBP/USD is up 0.1%..

Public borrowing figures are out tomorrow and further GDP estimates are on the cards for the second quarter. Otherwise it looks to be a quiet week - assuming Brexit doesn’t rear its head and cause further fluctuations for sterling.

Pound unsteady as inflation disappoints forecasts

Data last week alternated between undermining the pound and supporting it higher. The outlook for consumer spending and interest rates still remains gloomy, leaving GBP on soft form overall.

Focus on monetary policy outlook weakens euro despite solid Eurozone data

The euro largely declined last week, as markets began to take more chances on risky currencies. Economic data was largely positive, but news from the monetary policy front was not so uplifting.

Chaos in the White House undermines earlier US dollar gains

The US dollar was largely able to rise last week as the outlook on the economy and interest rates recovered from poor inflation data released before the previous weekend. However, chaos ensued in the White House before the weekend, causing USD to lose some of the week’s earlier gains.

AUD and NZD benefit from late-week surge in risk-appetite

It took a while for the markets to regain confidence in the risky Australian dollar and New Zealand dollar last week, but the pair managed to strengthen towards the end of the week. Weakness in the US dollar helped push AUD and NZD higher.