Monthly Currency Market View August 2023

Even amid economic difficulties, the growth in Retail Sales has been noted at 0.7%, a significant increase from the upwardly adjusted 0.1% acceleration seen in the preceding month. This performance surpasses the market forecast of 0.2%. Consequently, this constitutes the third month in a row where retail trade has witnessed growth, clocking in the highest rate thus far.

USD – The yield curve inversion and its past association with recessions require close attention

EUR – ‘Uncertainty’ stalls German economy

GBP – Bank of England may slow pace of UK rate hikes