Sterling Holds Firm as UK Data Takes Centre Stage and Dollar Weakness Continues: Sterling Update
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The Middle East situation remains unresolved, with no talks scheduled for the week ahead. Iran is preparing fresh measures against its adversaries, though the extent of the actions is unclear. Israel has attacked targets in Lebanon, reportedly killing a Hezbollah commander, which could strain the US brokered ceasefire. Energy prices, especially Brent crude, are testing $90 per barrel levels, potentially straining the US administration before the November mid-term elections.
UK labour market, CPI, and retail sales figures for July are expected to be released, with particular focus on any signs of weakness in payrolled employment and job vacancies.
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