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The Week Ahead, 17 to 21 July 2017



The Sterling had a positive week last week hitting a high of around 1.31138, with the British currency gaining some support from underlying expectations that the Bank of England could be the next major global central bank to sanction an increase in interest rates. In the coming week, investors will be paying attention to PPI and CPI data releases on Tuesday, Inflation Report Hearings on Wednesday, Retail Sales on Thursday and Public Sector Net Borrowing on Friday.

The Euro continued on its upward trajectory last week with the bloc currency hitting a high of around 1.14896. This was as a result of positive economic news releases from the largest economies in the currency bloc - as well as the bloc as a whole - despite central bankers' concerns that the level of inflation in the whole zone may be suppressed for a while. In the coming week, investors will be looking forward to CPI on Monday, Zew Survey on Tuesday, and German PPI on Thursday.

The Dollar was one of the worst performing currencies this week hitting a low of 112.268. This is due to sceptical sentiment about further tightening of monetary policy in the US due to the recent slowdown in US inflation - against the backdrop of the Fed's restrained position on further interest rate hikes, the dollar is under pressure. In the coming week investors will be looking forward to Import/Export Price Index figures on Tuesday, Housing Starts on Wednesday, and Jobless Claims on Thursday.

The Aussie was one of the best performing currencies of last week, hitting a high of 0.78339; on the back of better-than-expected Chinese trade figures which indicated strong demand for the country's goods as well as resilient domestic demand. In the coming week, investors will be looking forward to the RBA Meeting Minutes on Tuesday, and NBA Business Confidence figures on Thursday.