Good morning,
Today is a very thin day with data, as the week finishes off with a busy day yesterday.
We saw the pound piggybacking off some positive retail sales, crossing the 1.09 mark against the euro, and the 1.21 on the dollar. Although some encouraging strength for the pound was well received, the metaphorical legs may very well tire as the focus next week will likely shift back to the politics of Brexit.
EURUSD has opened below 1.11 this morning after the initial poor data front from Germany picked up momentum with European Central Banks’ Rehn hinting that September’s stimulus measures may overshoot expectations yesterday.
With little on today, the markets may take a well-deserved breather as we prepare for the next week.
Have a great weekend.