Markets look ahead to key releases this week.

The Euro and Pound have continued to struggle against the US Dollar after last week’s data releases and interest rate hike from the ECB. Markets stay calm for the first part of the week before key data releases influence the second half.

GBP (British Pound): The GBP has a quiet start to the week with not many releases Monday or Tuesday as it looks to rebound after last week.

Markets are closely monitoring the British Pound as they anticipate the publication of the Consumer Price Index (CPI), and Producer Price Index (PPI) figures released on Wednesday.

The main focus of the week will be the Bank of England’s interest rate decision on Thursday. They are expected to increase rates again to 5.5% to help curb inflation.

EUR (Euro): Following on from last weeks European Central Bank (ECB) decision to hike interest rates and President Lagarde speech to EUR continued to struggle against the pound and Dollar.

Looking ahead to this week the Euro will be heavily influenced by Fridays slate of PMI releases for the Eurozone. We also have the release of Core Harmonized Index of Consumer Prices tomorrow helping to provide insight into Eurozone pricing.

USD (United States Dollar): The United States Dollar (USD) also has a quiet start to the week with no major releases until later in the week.

Wednesday however will be a key day for the USD as the Fed’s interest rate decision is released. With the expected holding of rates at 5.5% this will put a lot of weight on the tone on the monetary policy statement to help gauge how the US is dealing with inflation and the outlook going forward.

Finally, on Friday we also have PMI released for the US as well which will help to understand the overall health of the US economy.