19/11/2025
The UK Budget will likely play a key role in GBP performance, while the ECB’s outlook remains sensitive to European GDP and inflation data. USD is facing pressure from weak labour indicators, with the focus now shifting to US GDP and payroll updates
This week promises significant currency market movement, with the US Dollar’s trajectory hinging on a data-heavy calendar, the UK’s Autumn Budget, and potential shifts in ECB policy outlook.
Geopolitical factors and national economic policies, such as the UK’s Autumn Budget, will likely affect trading patterns, with Sterling particularly sensitive to both BoE rate expectations and UK fiscal policy announcements.
GBP maintains slight upward momentum but faces considerable risk from domestic fiscal policies. USD holds strong in the face of anticipated U.S. rate adjustments and election implications. EUR remains cautious, restrained by economic forecasts, while AUD remains susceptible to USD strength amid global economic fluctuations.
GBP is under pressure from weaker-than-expected UK PMI data, while the Euro is buoyed by a modest recovery in manufacturing. The US Dollar has softened slightly amid mixed Fed signals and falling Treasury yields, while the Australian Dollar is supported by solid domestic data.
The Euro is weighed down by expectations of further ECB rate cuts, while the Pound faces pressure from anticipated BoE easing. The US Dollar continues to benefit from political uncertainty and strong Treasury yields.