GBP: Last week, the British Pound faced challenges in attracting investor interest due to a relatively quiet UK economic calendar. Instead, broader market risk factors played a key role in influencing GBP movement, with uncertain market sentiment initially limiting its gains. However, Sterling found some support from a better-than-expected services PMI, which provided a slight boost, as the sector’s growth contributed to optimism about the UK economy.

EUR: The Euro ended the week on a weaker note, as investors were disappointed by the latest Eurozone GDP figures. Growth for the second quarter was revised down from 0.3% to 0.2%, reflecting the impact of inflation and high interest rates, which curbed consumer spending and investment. Looking ahead, markets anticipate a widely expected interest rate cut from the European Central Bank on Thursday.

USD: The U.S. Dollar also closed the week under pressure after the US employment report, released on Friday, indicated a sharper-than-expected slowdown in the labour market. This raised concerns about the strength of the US economy, increasing speculation that the Federal Reserve may opt for a larger 50-basis point rate cut later this month.