Under Pressure
GBP: The British Pound came under pressure after UK jobs data showed unemployment remained unchanged, while wage growth slowed to its weakest level in six years. The figures suggest the UK labour market is losing momentum, reducing pressure on the Bank of England to keep policy tight. With hiring also weakening, the latest figures provide little support for the Pound and point to a more challenging outlook ahead.
EUR: The Euro began the week with modest support, helped by lower energy prices and improving investor confidence. Falling natural gas costs are easing pressure on the eurozone economy, while stronger German economic sentiment could provide further encouragement. Investors will watch Germany’s latest confidence figures closely, as signs of improving conditions may strengthen the Euro’s position and help sustain its recent momentum in the coming sessions.
USD: The US Dollar remained under pressure as weaker US economic data reduced expectations of further interest rate increases. Recent figures showed slowing employment, softer inflation and a decline in consumer spending, raising concerns about the strength of the US economy. Investors are now watching upcoming employment data closely, with signs of continued weakness likely to weigh further on confidence in the Dollar.
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