The week ahead of 27/08 – 02/09 will see investors focus on the US PC data and Friday’s payrolls report for August. With Yellen signaling rate hikes, the data this week could potentially seal the deal for a September rate hike.

The British pound managed to stay on the top this week gaining 0.61% against the US dollar. The gains came as economic data released over the past weeks showed smaller than expected Brexit effects on the UK’s economy. The second quarter GDP was confirmed at 0.60% while latest data such as retail sales and unemployment continued to post modest gains from a month ago. The US dollar managed to make up for the lost ground on Friday, largely thanks to Janet Yellen’s hawkish remarks at Jackson Hole on rate hikes sending the dollar higher.

Weekly Spot FX Performance – 26/08/2016

The Swiss franc lost over 1.70% for the week followed by gold prices which were hit the most. The yen was also down over 1.0% by last week’s close as the safe haven instruments gave up some of their gains. The euro which was trading stronger over the week also fell sharply on Friday closing the week with over 1.0% in losses.

Economic Calendar for the Week 28/08 – 02/09