USD-
Despite some early reservations on the day, with traders positioning for a hot print, US price pressures have eased to their lowest since May of last year. With the US congress voting to remove all tariffs on Canada just last week and Trump likely to lose both houses in the November mid-terms, we could see a quicker end to the tariff fiasco than expected.
Plenty to look for this week, with proceedings taking a distinctly British tone with UK unemployment and inflation releasing Tuesday and Wednesday respectively. Unemployment is expected to stay around 5.1%, whilst average weekly wages fall more aggressively from 4.5% to 4.1% growth. UK inflation is expected to drop quickly from 3.4% to 3%, its lowest rate since last March.
All of this suggests that GBP is the one to watch this week, should releases go as expected, it could be a rough week for the Pound.
Markets Today
*Please be aware the below rates represent the market rate at 8:00 AM, contact your Caxton dealer or check online for a live quote.
Major Economic Releases (All times in GMT)
No major releases.