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Sterling’s Movement Hinges on Global Economic Indicators
This week, the British pound is expected to be influenced by international factors due to a scarcity of significant UK economic reports, according to analysts at Monex Europe. Market attention is primarily directed towards pivotal US economic indicators, which include the first quarter economic growth data scheduled for release on Wednesday, core personal consumption expenditure prices on Thursday, and the non-farm payrolls report on Friday.
Analysts have noted that while the market anticipates a potentially weaker growth figure, persistent inflation presents additional challenges for the Federal Reserve. They also emphasized that any escalation in global trade tensions might adversely affect the risk-sensitive pound.
At the time of reporting, sterling remained steady against the US dollar at 1.3306. Conversely, it experienced an appreciation against the euro, which saw a decline of 0.2% to 0.8526 pounds.
