Spectrum Daily Report

GBP: The British Pound traded in mixed fashion yesterday as a lack of UK data left GBP investors focusing on the coming Autumn Budget. Markets have been anxious that the budget – which will be unveiled later this month – will contain tax rises and spending cuts. For now, UK data remains in short supply until tomorrow, when the latest British GDP figures are due out.

EUR: The Euro witnessed a brief rally in early European trade yesterday after the release of stronger than expected German trade figures. New data showed that the Eurozone’s largest economy saw its trade surplus widen more than anticipated in August, with export growth unexpectedly remaining in positive territory. However, ECB interest rate cut bets put some pressure on the common currency, stifling its upside.

USD: The U.S. Dollar fell slightly in Asian trade but remained close to seven-week highs hit earlier this week. Looking forward, focus remains squarely on?inflation data due later in the day, which is likely to factor into the Fed’s plans for interest rates. The data is expected to show headline CPI inflation eased slightly, while core CPI remained sticky.?

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