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Weekly Market Analysis November 27th 2017  |
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Concerns for UK outlook leave GBP struggling Even last week’s positive British data had gloomy undertones, keeping the pound largely on weak form as investors fretted about the outlook for the UK economy. The pound begins the week trading flatly, with GBP/EUR trending around €1.1179 and GBP/USD having inched up to US$1.3345. It’s not the busiest of weeks in terms of UK data, meaning the pound could be on reactionary form as the euro responds to key inflation data and the US dollar is kept volatile by a constant stream of big US publications. |
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Today's Rate The rates above are using the British pound (GBP) as the base rate. All rates are for indication purposes only. Prices can vary dramatically based on amount and delivery date. |
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| | "Hammond’s Budget was largely a non-event on Thursday, with little in his spending plans to cause any form of excitement."  Transfer 24/7 with our currencies direct app   |
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Pound fluctuates as economic data hammers UK economic outlook The pound spent several days on lacklustre form last week, with data often proving positive in terms of headlines but gloomy once economists dug deeper. |
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Euro bounces back from German political chaos thanks to strong Eurozone data Political chaos in Germany started the euro off on a bad footing at the beginning of the week, but the relentless tide of positive data from the Eurozone continued throughout the week, lending the euro support. |
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FOMC meeting minutes unsettle otherwise range-bound US dollar It was a rather dull week for the US dollar last week, with the strong bets of an interest rate hike next month keeping USD stuck in a narrow range. Having said that, Wednesday’s release of monetary policy meeting minutes still caused a stir. |
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Cool risk appetite weighed on AUD and NZD, but RBA policymakers more upbeat Negative developments outweighed positive ones last week, with the Australian dollar and New Zealand dollar softened by an uncertain outlook. |
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