GBP: Since August 11th, the pound has seen a significant uptrend, rising to some of the greatest levels this year. Following many announcements of encouraging UK economic statistics, it reached its pinnacle last Thursday. With the exception of the manufacturing and services PMI figures issued on Wednesday, this week is rather quiet for Sterling in terms of data; nonetheless, Sterling may be more influenced by developments overseas.

EUR: As it fell against both the Pound and the Dollar last week, the single currency appeared to be the one taking all the blows. The second quarter GDP results for the Eurozone met forecasts, preventing further declines in the single currency. Prior to the release of the ECB’s monetary policy accounts on Thursday, major economies France and Germany will report important PMI readings, making this week a busy one for the Eurozone in terms of data.

USD: The US has been dominated by news surrounding the on-going fires which seem to have propped up everywhere – and if it’s not fires its floods. Fires still rage on through parts of the US and Death Valley has been hit with huge floods. Focus should shift this week with a number of key data releases as well as Fed members giving speeches ahead of the Jackson Hole Symposium on Thursday – an annual event where central bankers and policy experts meet to discuss the economy.

If you have any questions or concerns about how high-interest rates may impact your business, our Capex Currency team is here to assist you. Feel free to reach out to us for guidance and expert advice tailored to your specific needs.