After briefly crossing into negative territory, US stock index futures ended slightly higher yesterday following a 0.5% rise in inflation since January.
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Dollar-watchers will be watching closely for the latest inflation data today. Markets predict that the annual rate in the US is likely to slow.
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On Monday, the euro hovered close to the nine-month high touched last week. The single currency was kept afloat by Hawkish noises from the ECB.
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Sterling remained close to its weakest levels since January 6th yesterday as investors digested last Friday’s GDP data.
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We've just seen the latest employment change data for the UK this morning. It has revealed that the number of people in work grew by 74,000 in the three months to December 2022.
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Investors have a wealth of key economic data releases to watch in the US this week — all which could impact the dollar's performance against its competitors.
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It is a different story for the euro this week which has lost weekly gains of around 0.95% against the pound. On a monthly comparison though, the single currency has strengthened against sterling by around 0.03%.
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On Friday, sterling strengthened against the US dollar by approximately 0.22% on a weekly comparison and 1.24% against the euro. This morning GBP/EUR maintains those gains entering the week stronger.
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