UK: Weekly FX Market Update 9 June 2025

GBP

• Will GBPUSD move higher again this week with employment data released on Tuesday and GDP figures on Thursday?

• US CPI data is due to be released on Wednesday. Will it show tariff-led strength or remain close to the Fed’s 2% target again?

• UK consumer inflation expectations data rounds the week off on Friday.

EUR

• A bullish ECB President, combined with a mini bromance for Germany’s Chancellor Merz and President Trump, helped the Euro’s performance last week.

• Will investor confidence data on Tuesday and industrial production on Friday keep EURUSD moving higher?

• How are the EU/US trade talks going, and can they agree by July 9^th?

USD

• While the US labour market continues to slowly grow, President Trump’s tax bill is facing opposition in the Senate and elsewhere.

• Can the Senate pass the bill by July 4^th, and will it include Section 899?

• Is this all leading to peak uncertainty in early July, and can the market settle down after this time?

Main events for this week:

Mon June 9

All Day Germany/France/Swiss Whit Monday Holiday

Tue Jun 10

07:00 GBP Claimant Count Change/Average Earnings/Unemployment Rate

09:30 EUR Sentix Investor Confidence

Wed Jun 11

13:30 USD CPI

19:00 USD Federal Budget Balance

Thu Jun 12

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

13:30 USD PPI

Fri Jun 13

09:30 GBP Consumer Inflation Expectations

10:00 EUR Industrial Production

15:00 USD Prelim UoM Consumer sentiment/Inflation Expectations