Sterling sits like sitting duck

9th August 2019 Market Update

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🇬🇧 GBP –  With very little data from yesterday, sterling moves were muted, the trading range seen throughout the course of the week has remained.

Today could bring about some much-needed volatility for the pound with the release of Q2 economic growth estimates for the UK; forecasted to show that growth in the quarter being stagnant at 0%. Industrial and manufacturing production figures are also due at 9.30am

🇪🇺 EUR – No Data from the eurozone yesterday and little to none today.

🇺🇸 USD –  There is no data out from the US yesterday and little today, with the only likes of core PPI m/m marked down as amber data. With all eyes set on Trump’s trade wars with China, this will have little impact on the rates.

 

Summary:

GBP: 2nd quarter growth in focus
EUR: Euro moves still subdued
USD: US-China trade wars still the focus


 

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Darren Kilner

Darren Kilner

Darren is Head of Dealing at FairFX. Darren lives and breaths FX, his Mastermind topics are G8 currencies and economic forecasts.

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