Pound (GBP) muted in absence of data
The pound (GBP) was subdued on Friday, failing to find a clear trajectory amid a lack of UK economic data.
In the absence of any fundamental drivers of movement, a mixed market mood saw the increasingly risk-sensitive pound trade in a wide range against its peers.
High-impact data in the week ahead could drive volatility in pound, kicking off with tomorrow’s labour market report. Before then, could some slightly hawkish comments from Bank of England (BoE) policymaker Catherine Mann lend GBP support?
Euro (EUR) uncertain as risk appetite wavers
The euro (EUR) also faced uncertain movement on Friday amid the lukewarm market mood.
Germany’s final inflation figures had little impact on EUR, as they printed in line with preliminary estimates.
Turning to today, the single currency could remain subdued amid a lack of notable Eurozone economic data.
US dollar (USD) stabilises following volatile week
The US dollar (USD) seemed to stabilise at the end of last week’s session, as the volatility that rocked markets earlier in the week fizzled out.
While the shifting market mood did see the ‘greenback’ waver against some peers, the currency’s movements were limited in scope.
Market-moving US data is absent from the calendar today. This could leave the safe-haven ‘greenback’ to trade in line with market risk dynamics. Will a risk-on mood see USD stumble?
Canadian dollar (CAD) unsure amid mixed jobs data
The crude-linked Canadian dollar (CAD) was uncertain on Friday, as wavering oil prices and a mixed jobs report muted the currency.
Notable Canadian data is also thin on the ground today, potentially leaving the crude-linked ‘loonie’ vulnerable to oil price fluctuations.
Australian dollar (AUD) firms following RBA comments
The Australian dollar (AUD) ticked higher overnight as Reserve Bank of Australia (RBA) Deputy Chair Andrew Hauser warned of sticky inflation, adding to recent bets on another RBA rate hike.
New Zealand dollar (NZD) rises amid risk-on trade
The New Zealand dollar (NZD) strengthened during last night’s session, with an upbeat market mood supporting the risk-sensitive ‘kiwi’.