Another week, another whirlwind in the currency world... Well, not quite but we need you to get excited about something..... While it seems like the GBP, USD, and EUR have all had a pretty lazy week, plenty is happening behind the scenes.

Just another thing to note, we know we referred to Oasis last week; unlike TicketMaster, we will not take any extra 'surprise fees' off you for doing what we do... You have our word!

Key Updates:

• GBP remains steady but poised for shifts with upcoming U.S. labor data.
• USD continues to weaken amid soft economic indicators, but key dates are ahead including Non-Farm Payrolls tomorrow!
• EUR shows surprising resilience, boosted by strong German factory data.

GBP

The Pound has been treading water against both the Dollar and the Euro. While U.K. data remains largely unchanged, the Bank of England (BoE) has been unusually quiet. Market players are keeping an eye on the BoE’s next meeting on September 19, where a surprise rate cut could send the pound in a downward spiral. For now, GBP/USD is holding around 1.315 and GBP/EUR around 1.1875, but that could change based on the U.S. jobs Non Farm Payrolls report tomorrow.

USD

The Dollar has been struggling this week, especially with disappointing U.S. economic data, including lower ISM Manufacturing PMI and the release of a weaker-than-expected JOLTs job openings report. There’s a lot riding on the U.S. Non-Farm Payroll release tomorrow, September 6, which will either strengthen or further weaken the USD with more movement expected.

EUR

The Euro has seen some surprising strength, thanks to positive German factory orders. While EUR/USD has struggled to break above 1.1100, it’s holding steady. The pair could experience some volatility ahead of the U.S. tax deadline on September 15 and the labor market data this week. A sharp rise in U.S. unemployment could see the euro break out of its current range, but for now, consolidation under 1.1100 seems likely.

Final Thoughts:

Ah, the calm before the storm. With so many important economic dates coming up, the markets could get shaken up at any moment. If you’re planning to convert, keep those dates (Sept 6, 15, and 19) in mind!

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A note to please continue to use support@blkfx.co.uk in your emails as well as your account manager to make sure someone in the team can pick up your query as soon as possible.

If you need any advice or have questions about how these trends might affect your specific situation, don’t hesitate to reach out!

You can always reach us via email at info@blkfx.co.uk, on WhatsApp: +44 7939 432196 or via phone: 020 8064 0617 or any of the team via their direct emails