After closing the previous week with a positive note on a US Dollar Index, it remained steady just below 106.00 while major currency pairs fluctuated within familiar ranges.
The UK’s Office for National Statistics is set to release the jobs report early on Tuesday, along with third-quarter Gross Domestic Product (GDP) growth data from the Euro area and October Consumer Price Index (CPI) data from the US, all of which were closely monitored by market participants.
The EUR/USD showed minor fluctuations in a narrow range around 1.0700, after registering slight losses the previous week. Luis de Guindos (ECB Vice President) commented on policy outlook and stated that it is likely the economy of the Euro Area will remain subdued for the foreseeable future.
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Following the dismissal by the British Prime Minister Rishi Sunderman of the Home Secretary Suella Brverman, a reshuffle in the cabinet was initiated. Notably, David Cameron has now been appointed the role of Foreign Secretary in Sunak’s cabinet. The UK’s FTSE 100 Index opened higher, gaining over 0.7% on the day, while GBP/USD edged higher to the 1.2250 area, driven by…