Published: 12/08/2024 By ECAP
The Pound has a busy week ahead with Economic Data set to be released Tuesday to Friday. The key points the markets will be looking at include Unemployment, Inflation, GDP and Retail Sales. Whilst Sterling stabilised against the Euro, it performed poorer than many of its G10 counterparts during the rebound from the early August losses.A slower week can be expected for the Euro with little data to catalyse any movements. Markets will tune in on Wednesday for EU GDP which could see some additional volatility. Investors will keep an eye on the outlook of UK GDP growth which would act bullish for the Pound, brining the Euro down.
The US market can expect a turbulent end of the week with major data such as Inflation & Retail sales being released Wednesday onwards. If inflation looks promising, market sentiment towards interest rate cuts of up to 100 basis points will cement further.
Data supplied by GC Partners