Region: North America

Betting on lower volatility and rates. Surging GBP/USD. Euro hovers near 2024 high.

Yields up, dollar up, on soft landing narrative. Pound holds gains after UK retail data. Euro stumbles as US defies expectations.

Milder US CPI after PPI miss? Pound drops on soft CPI print. Euro shrugs off ZEW miss.

Cause for caution. Loonie directionless ahead of US CPI. Euro retreats at ZEW survey disappointment.

New volatility catalyst. Data deluge to determine pound’s direction. Euro remains in a consolidation mode above $1.09.

Like the week never happened. All eyes on inflation next week. Euro anchored above $1.09, looks for clearer signals.