Global Factors
GBP
The British Pound traded in a narrow range after weaker UK manufacturing data dampened confidence, although the sector continued its steady recovery with improving output, orders and exports. With little fresh economic news expected, the currency may struggle to find clear direction in the near term. Investor sentiment is likely to be driven more by global events, including developments in the Middle East and broader economic signals.
EUR
The Euro lacked momentum after weaker than expected German retail sales raised concerns over consumer spending, despite manufacturing activity continuing to improve. With few major economic releases ahead, the single currency may remain rangebound in the near term. Market sentiment is likely to be influenced more by global developments, including events in the Middle East and broader economic data, which could drive short-term volatility.
USD
The US Dollar recovered after stronger than expected manufacturing data boosted confidence and investors returned following recent losses. However, gains may be limited if upcoming labour market figures point to a softer jobs outlook. Market sentiment will also remain important, with developments in the Middle East likely to influence demand for the currency and drive short-term movements.
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