Published: 30/03/2026 By ECAP
AT A GLANCE
The British Pound starts the week under pressure as rising energy prices and global uncertainty weigh on sentiment.
The Euro's is softer, struggling against a stronger Dollar as markets turn more cautious
The U.S. Dollar is firm, supported by safe-haven demand and higher oil prices, with a busy week ahead including US jobs data, PMI surveys and Eurozone inflation.
OIL SHOCK
The British Pound is on the back foot as rising oil prices and global uncertainty weigh on confidence. The conflict in the Middle East is pushing energy costs higher, which is a risk for UK households and growth. GBP/USD remains in a short-term downtrend, showing limited recovery despite a small bounce. With markets focused on global risks rather than UK data, Sterling looks vulnerable near term.
The Euro is under pressure as investors move towards the Dollar. Rising energy prices are a bigger concern for the Eurozone, given its reliance on imports. The pair is holding near recent lows and looks vulnerable if tensions escalate further. This week’s inflation data will be key, but for now, global sentiment and energy markets are the main drivers for the Euro.
The US Dollar is firm as investors seek safety amid rising tensions in the Middle East. Higher oil prices are also supporting the US outlook relative to Europe. Markets are now looking ahead to a busy week of data, particularly Friday’s jobs report, which will shape expectations for interest rates. With geopolitical risks still elevated, the Dollar remains well supported for now.Data supplied by GC Partners