UK: Weekly FX Market Update 16 February

GBP

• Weak UK GDP resulted in a soft GBPEUR, however, GBPUSD appears resilient

• Will Citibank be right? Could the Pound be most “vulnerable” before the May by-elections?

• UK CPI could be the biggest factor this week, released on Wednesday.

EUR

• The Euro appears supported against the US Dollar but can’t make any great headway.

• Could positive news about a possible peace agreement in the Ukraine/Russia war help?

• Flash PMI data is released on Friday. Will it show an as expected expansion for the Eurozone?

USD

• A strong Non-Farm Payrolls report failed to produce lasting USD strength.

• In contrast a weak US CPI release weighed on the dollar. Is that a giveaway that investors are negative towards the USD?

• Will advance GDP, due for release on Friday, show a booming US economy?

Mon Feb 16

All Day

China Bank Holiday

US Bank Holiday

Tue Feb 17

07:00 GBP Employment Report

10:00 EUR ZEW Economic Sentiment

13:30 CAD CPI

19:30 USD FOMC Daly Speaks

Wed Feb 18

07:00 GBP CPI

13:30 USD Durable Goods

14:15 USD Industrial Production

19:00 USD FOMC Meeting Minutes

Thu Feb 19

00:30 AUD Employment Data

13:30 USD Unemployment Claims/Goods Trade Balance

15:00 EUR Consumer Confidence

15:30 USD FOMC Goolsbee Speaks

Fri Feb 20

07:00 GBP Retail Sales/Public Sector Net Borrowing

08:30 EUR German Flash Manufacturing & Services PMI

09:30 GBP Flash Manufacturing & Services PMI

13:30 CAD Retail Sales

13:30 USD Advance GDP

14:45 USD Flash Manufacturing & Services PMI