EUR USD Data Releases 27/03/20170 8:00 EUR German Ifo Business Climate MAR 29/03/20170 6:45 EUR French Consumer Confidence MAR 08:00 EUR Italian Business Confidence MAR
More concretely, Monday’s German confidence scores are expected to stagnate or dip in March, while minor gains are predicted for Thursday’s Eurozone confidence stats.
Eurozone news up to Friday provoked uncertainty, with falling French and German confidence on Thursday coming along with a Eurozone confidence improvement.
Following this was the main boost, when Eurozone, German and French PMIs all rose above forecasts in March.
US dollar investors unravelled their ‘Trump rally’ positions throughout the day and weakened the American currency notably.
Pound (GBP) Benefits from UK Data and Risk-Off Rally Investors’ confidence in the short to mid-term Pound outlook helped the Pound out significantly on Monday.
At the time of writing this update, the British Pound to Australian Dollar exchange rate trended in the region of 1.6510.
However, due to a lack of Australian data due until towards the end of the week, AUD demand is likely to remain low.
GBP AUD Data Releases 31/03/2017 00:00 AUD ANZ Activity Outlook (MAR) Low 00:30 AUD Private Sector Credit (MoM) (FEB) Low 00:30 AUD Private Sector Credit (YoY) (FEB) Medium 06:00 GBP Nationwide House Prices s.a. (MoM) (MAR) Low 006:00 GBP Nationwide House Prices n.s.a.
The Pound could weaken slightly against the ‘Aussie’ on Wednesday if UK data disappoints, or if the formal Brexit process causes investors to become jittery on Sterling.
Canadian Dollar – GBP/CAD Exchange Rate 5-Day Forecast, Sterling Strong, Risk Sentiment Low
Demand for the Canadian Dollar was poor throughout the day due to falling risk-sentiment as the market’s recent ‘Trump rally’ unravelled.
At the time of updating this article, the British Pound to Canadian Dollar exchange rate trended in the region of 1.6820.
Concerns that oil prices would never return to the highs seen before the oil crash also weighed on the oil-correlated Canadian Dollar.
As markets resume for another week, the Pound to Canadian Dollar exchange rate has risen 0.46% and is quoted at 1.67564 on Monday 27th March.
We will negotiate in a friendly way, a fair way, and we are not naive.’Tumbling Oil Prices Pressure Canadian Dollar The Canadian Dollar stumbled this week following a persistent decline in oil prices.