The Christmas break left the currency market sluggish, but things quickly got back up to speed as the New Year began.
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Weekly Market Analysis January 8th 2018 |
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GBP gains on weakness in Eurozone and US economic data allows The Christmas break left the currency market sluggish, but things quickly got back up to speed as the New Year began. Pound Sterling is on mixed form today, with GBP/EUR having risen 0.3% to €1.1307 while GBP/USD has fallen -0.2% to US$1.3536. The week ahead could see stop-start movement for the major currencies, as several of the domestic data calendars alternate between being packed with releases one day and being completely empty the next. |
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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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| | "Although markets were first disconcerted by an above-forecast drop in the UK’s latest manufacturing PMI on Tuesday, Sterling quickly recovered after analysts pointed out that the index remained firmly in growth territory at 56.3 points." Transfer 24/7 with our currencies direct app |
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GBP unsteady as December PMIs leave doubts over impact of Brexit on UK economy The final set of UK PMIs for 2017 left the pound on volatile form by raising questions about the health of the UK economy heading into the New Year. |
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Eurozone data bullish, but euro ends Friday close to weekly lows The stream of strong economic data continue to show that the Eurozone economy was entering 2018 on buoyant form, but the euro was unable to hold onto its gains versus the pound or the US dollar last week. |
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USD loses ground as non-farm payrolls data unsettles market hopes of Fed rate hike A strong start to the week for the US dollar was somewhat derailed as the weekend approached, with labour market data failing to impress investors. |
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AUD and NZD boosted as uncertain US policy outlook fans risk appetite Weakness in the latest US data provided some support for the Australian dollar and New Zealand dollar last week, but there were problems at home that muted the strength of AUD and NZD. |
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