Pound Sterling (GBP)
GBP: The British Pound is under pressure due to weak economic indicators, such as a sluggish job market and growing expectations of interest rate cuts from the Bank of England. With multiple rate cuts anticipated this year, the Pound’s struggles persist. Key upcoming data on the labour market and wages will play a crucial role in determining the Pound’s short-term performance.
Euro (EUR)
EUR: The Eurozone is showing signs of economic improvement, with Germany’s recovery expected to boost the Euro. Investors are closely monitoring economic data, such as PMI surveys, to gauge the region’s progress. If growth in the Eurozone continues to strengthen, the Euro could gain further support and market sentiment may shift in its favour.
U.S. Dollar (USD)
USD: The U.S. Dollar is in focus today as President Donald Trump is inaugurated. His policy decisions on tariffs, taxes, and immigration are expected to have a major impact. Broad tariffs could strengthen the Dollar, while a more measured approach might weaken it. Investors are waiting for detailed announcements, which will shape the Dollar’s near-term outlook