Spectrum Weekly Report

GBP: The British Pound remained relatively flat yesterday, despite worse than expected UK retail sales data. The BRC retail sales monitor for February showed a 0.9% increase, far below the 2.4% forecast. Despite the disappointing data, Sterling held steady against most currencies. With no major UK data due today, GBP exchange rates are likely to trade without clear direction, influenced by external factors.

EUR: The Euro strengthened against most currencies, despite weak domestic data from Germany, including a decline in exports and a slump in the trade surplus. In fact, the single currency gained due to a weakening U.S. Dollar, benefiting from the negative correlation between the two. Looking forward, investors are focused on upcoming speeches from ECB officials, with any hawkish signals potentially supporting the Euro.

USD: The U.S. Dollar weakened, falling 0.6% as recession fears grew, driven by weak economic data and President Trump's uncertainty over a potential slowdown. Moreover, speculation about government layoffs, spending cuts, and trade tariffs added pressure. Looking forward, investors remain focused on CPI inflation data and job openings for economic cues, as they seek more clarity on the economy and interest rates moving forward.

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