Sterling's trend against the euro is one of sterling strengthening while against the US dollar it is moving sideways. Over the course of last week sterling only gained a little bit of ground against the euro, pushing above the 1.23 level by the end of the week and thereby maintaining the upward trend. Following the
Economic releases in the week ahead are not as many as last week but could have a significant bearing as they will either underpin the confidence in the
Any more surprises from the ECB this week?
After the notable spike in euro rates that we saw on Thursday, the single currency traded within a narrower range on Friday. As
Not a lot of data is in store for us this week, so reaction and speculation are likely to determine euro rate movements along with events elsewhere.
Additionally, the ECB Central Bulletin is set to be released and may incite market chatter and rate movements as it reveals the statistical data taken into account when making the decisions from the most recent meeting.
Employment data helps the US dollar
The US dollar ended last week with some slight gains in key areas, thanks to encouragement from the labor market. The non-farm employment change showed that US employers added jobs last month, providing further evidence that the economy is recovering. However, this figure was relatively close to estimated levels, despite Wednesday's independent version missing its expected level, and as such failed to have as large an impact, as is often the case. Alongside this, the unemployment rate held no surprises as it held at its record low, but gave continued hope of an interest rate increase sooner than currently being predicted.
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