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Weekly Market Analysis November 6th 2017  |
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GBP and USD slump as central banks prove more cautious than hoped Monetary policy was the focus for the pound and US dollar last week, while the euro was unsettled by weak price growth data. The pound is continuing Friday’s recovery today, with GBP/EUR up 0.3% to €1.1299, while GBP/USD has climbed 0.4% to US$1.3123. The pace of UK and US data slows dramatically this week, which could leave GBP and USD trending sideways for several sessions. The Eurozone calendar is busy with policymaker speeches, while Australia and New Zealand will both witness the announcement of decisions upon interest rates. |
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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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| | "Markets were disappointed by comments in the meeting minutes and Inflation Report that suggested this rate hike was a one-off, rather than the beginning of a monetary tightening cycle."  Transfer 24/7 with our currencies direct app   |
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GBP starts recovering losses from disappointing BoE ‘Super Thursday’ The latest Bank of England (BoE) monetary policy communications gave Sterling a huge knock last week. However, strong PMI data helped the pound post a strong recovery as the week drew to a close. |
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Weak inflation data and Catalonia uncertainty unsettles euro The latest German and Eurozone inflation data got the week off to a bad start for the euro, while continuing unrest in the Spanish region of Catalonia weighed on the common currency over the days that followed. |
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Ultra-high odds of FOMC December rate hike keeps USD in narrow range Super strong odds of an interest rate hike next month from the Federal Reserve kept the US dollar afloat last week. USD took a knock from a more cautious Federal Open Market Committee (FOMC) meeting than expected, but elsewhere developments remained broadly supportive. |
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AUD fails to benefit from risk appetite but NZD ends week higher It was a mixed week for the Australian dollar and New Zealand dollar. Both currencies benefitted from risk-appetite as markets awaited US monetary policy announcements, but there were also signals from the Australian and New Zealand economies that caution might be warranted. |
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