Pound (GBP) Strengthens as UK GDP Surprises to the Upside
The upbeat figures stoked speculation the Bank of England (BoE) could deliver more interest rate hikes in the coming month.
Owing to a lack of data today, Sterling may be left vulnerable to shifts in risk appetite. Could bullish trade aid GBP?
Euro (EUR) Listless amid Data Drought
The Euro (EUR) wavered on Friday, as a light data calendar prevented the common currency from garnering support.
Some gains were brought about by risk-averse trade, but not enough to provide clear direction for the Euro.
Due to a light slate of economic releases, the common currency could struggle for support during today’s session.
US Dollar (USD) Unable to Cement Post-PPI Spike
However, the ‘Greenback’ seemed unable to cement these gains following a downtick in the Michigan consumer confidence index.
With data releases in short supply, continued analysis of last week’s inflation data may drive the ‘Greenback’ today.
Canadian Dollar (CAD) Bolstered by Oil Price Recovery
The crude-linked Canadian Dollar (CAD) enjoyed some support last Friday, due to a recovery in oil prices.
The ‘Loonie’ may lack direction today, as the focus shifts towards tomorrow’s inflation data.
Australian Dollar (AUD) Struggles amid Chinese Economic Concerns
The Australian Dollar (AUD) struggled overnight, as risk-off trade prompted by Chinese economic anxieties weighed on the ‘Aussie’.