Pound (GBP) pressured despite upbeat GDP figures
The pound (GBP) weakened against most of its peers yesterday, with stronger-than-expected second-quarter GDP growth doing little to improve Sterling sentiment.
Although the figures confirmed the UK economy expanded at a healthy pace during the opening half of 2026, investors questioned whether that momentum could be sustained into the latter part of the year.
With UK economic releases remaining limited today, the pound is likely to lack a clear catalyst and may continue to trade without firm direction through to the end of this week’s session.
Euro (EUR) supported by stronger industrial output
The euro (EUR) edged higher on Thursday after the Eurozone’s latest industrial production data exceeded market expectations.
The single currency then received an extra boost during the European session as falling gas prices helped improve the region’s economic outlook.
Unless the Eurozone’s second-quarter GDP estimate is revised, attention today will centre on the bloc’s quarterly employment figures, where another upbeat release could lend additional support to the euro.
US dollar (USD) advance restrained by weaker producer inflation
The US dollar (USD) strengthened against the majority of its rivals yesterday as lingering geopolitical tensions continued to encourage demand for safe-haven assets.
However, the currency’s gains were limited after the latest US producer price index came in below expectations, reinforcing the view that inflationary pressures are continuing to ease.
Today’s economic releases could prove more challenging for the US dollar, with forecasts pointing to softer retail sales growth and weaker consumer confidence.
Canadian dollar (CAD) weakens as oil prices soften
The commodity-linked Canadian dollar (CAD) traded on the back foot on Thursday as crude prices moved lower.
The ‘loonie’ is expected to remain closely tied to oil price movements through the remainder of today’s session.
Australian dollar (AUD) lifted by improving risk appetite
The Australian dollar (AUD) attracted modest support during overnight trading on Thursday as a more optimistic market mood encouraged demand for risk-sensitive currencies.
New Zealand dollar (NZD) rises despite softer factory activity
The New Zealand dollar (NZD) advanced in overnight trade, with stronger market sentiment outweighing a larger-than-expected slowdown in New Zealand’s manufacturing sector last month.
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