Wow what a great week! EURUSD is trading at 1.2420 as I write this, and GBPUSD is currently trading at 1.4140. Sterling and the Euro have been outperforming the U.S Dollar all week, it seems that President Trump isn’t happy about this recent Dollar weakness and stated again that he wants a strong U.S Dollar, however for now, it seems this isn’t going to happen, at least until the political situation across the pond is sorted or if we get some positive news from the Fed.

GBPEUR also hit impressive levels and touched 1.15 briefly following strong employment and wages data from the UK, plenty of my clients had orders between 1.14-1.1450 this week and it was great to see they were all triggered.

In reference to this coming week, the first noteworthy release will be Eurozone GDP figures on Tuesday, this is expected to come out on par with expectations at 0.6% QoQ, however as we just saw with the strong UK GDP, a differentiation in the final number can affect the markets in a big way. BoE Governor Mark Carney is also speaking to UK Lawmakers on Tuesday, and any news about inflation in the UK, effects of Brexit and/or interest rate hike news will keep the Pound relatively volatile.

Wednesday will also be a relatively important day due to the fact that the Eurozone will be releasing their CPI (Inflation) figures, this has also been key for the Eurozone economy over the last year so it will be interesting to see how this comes out and to see if it continues or halts the recent EUR bull run. Later on Wednesday, the Fed will have their interest rate decision, we are not expecting any change, but due to the recent weakness in the U.S Dollar, it will be interested to see if the Fed will look to reverse this in the speech after the decision and if the currency weakness has affected the economy.

On Friday the U.S will release their notoriously unpredictable NFP data, as I say every month, don’t try and predict this release, just ensure you are correctly hedged and prepared for it just in case things move out of your favour, or if they do move in your favour, make sure you have everything ready to take advantage!