France
25 November 2024
Weekly Market Headlines:
- Pound under pressure against USD: The pound vs. US dollar has reached a 6-month low, reflecting ongoing pressure. Tomorrow evening’s release of the Federal Open Market Committee (FOMC) minutes will offer valuable insights into future US monetary policy.
- US GDP data on Wednesday: This could be the week’s most significant market mover. The data release is expected to trigger volatility across global currency markets.
- Pound vs. Euro steady at 31-Month highs: The pound remains relatively stable against the euro, supported by escalating concerns over the Eurozone economy.
The pound vs. the US dollar remains under pressure, with the currency pair trading at a 6-month low. Attention now turns to the Federal Open Market Committee (FOMC) minutes, scheduled for release tomorrow evening. These minutes should provide critical guidance on the direction of US monetary policy as we approach 2025.
Wednesday’s US GDP data release could be the most impactful event of the week. This report often influences global market volatility, and its outcome will likely affect key exchange rates, including the pound vs. US dollar.
Against the euro, the pound remains relatively stable, recently challenging 31-month highs. The European economy continues to face headwinds, underscored by this morning’s weaker-than-expected German IFO Business Climate Index. This index reflects business projections for the next six months, and the disappointing data adds to concerns over Eurozone stability.
Looking ahead, the Eurozone will release its Industrial and Consumer Confidence data on Thursday, followed by inflation figures on Friday morning. These updates could shape Eurozone market sentiment and present opportunities for those watching EUR-related exchange rates.
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What events might move exchange rates this week?
EUR
- Thursday: Industrial and Consumer Confidence data
- Friday: Eurozone inflation
USD
- Tuesday: Federal Open Market Committee Minutes
- Wednesday: GDP data
