UK: Weekly FX Market Update 10 August

GBP

• Can UK GDP show sterling some direction this week?

• Will the US/Iran war continue to dominate the holiday market?

EUR

• After weak US Non-Farm Payrolls, EURUSD pushed above noted resistance.

• Will Eurozone GDP keep investors positive on further Euro gains?

USD

• Last week’s Non-Farm Payrolls report showed the US economy lost 23k jobs in July. The US$ slumped as a possible rate hike is pushed from September to December.

• With Iran & Oman edging towards a deal to reopen the Straits of Hormuz, will the US agree to it?

• US CPI is released on Wednesday. What will it show after July’s oil price spike?

• US Treasury yields have been moving higher, pushing US borrowing costs higher. What is US Treasury Secretary Bessent doing about it?

Mon Aug 10

09:30 EUR Sentix Investor Confidence

Tue Aug 11

05:30 AUD Reserve Bank Australia Interest Rate Decision

Wed Aug 12

13:30 USD CPI

15:30 USD Crude Oil Inventories

Thu Aug 13

07:00 GBP GDP/Goods Trade Balance/Industrial Production

13:30 USD PPI

Fri Aug 14

10:00 EUR Flash GDP

13:30 USD Retail Sales

15:00 Preliminary UoM Consumer Sentiment/Inflation Expectations