The Weekly Market Update
News & Insights
w/c 19th October: French Unrest
GBP
The British Pound strengthened last week after stronger than expected UK economic growth boosted confidence in the economy. Hopes of a November interest rate rise also supported the Pound, although concerns remain about the outlook for borrowing costs. This week, attention turns to UK jobs and inflation figures, which could influence the Bank of England’s next move. Signs of weaker economic conditions may limit further gains.
EUR
The Euro struggled last week as concerns over France’s growing debt and budget uncertainty weighed on confidence. It recovered some ground later in the week, helped by broader market movements, but worries about France’s financial position limited its progress. This week, attention turns to business activity figures across the Eurozone. Stronger results could support the Euro, although ongoing concerns about France’s finances may continue to create pressure.
USD
The US Dollar experienced sharp swings last week, initially strengthening after higher than expected inflation raised concerns about rising prices. However, it quickly weakened as doubts over technology spending and uncertainty surrounding the Federal Reserve’s next move unsettled investors. This week, limited US economic data may leave the Dollar sensitive to global events. Renewed geopolitical tensions could support demand for the currency as investors seek safer options during uncertainty.
Stay ahead with our weekly market updates, delivered straight to your inbox.