After the official triggering of Article 50, the British pound ended the week higher against most of the G10 currencies. The U.S. dollar also gained ground while, contrary, the euro declined versus the majors.
In the week ahead, the focus will be on the ECB meeting minutes that will be presented on Thursday and the U.S. NFP report on Friday, as well as the RBA interest rate decision on Monday night.
On Monday, the week starts with the final Markit manufacturing PMIs for several countries. In Eurozone, as a whole, the U.K. and Germany the sector’s PMIs are expected to keep the same pace of growth as estimated in the previous releases, at 56.2, 54.6 and 58.3 respectively in March. Later in the afternoon, the U.S. Markit manufacturing PMI is also expected, as well as the ISM manufacturing PMI which is forecasted to have dropped to 57.0 from 57.7 the previous month. The U.S. construction spending is predicted to rise 1% in February from a decline of 1% before. At 10:00 GMT, Eurozone’s unemployment rate for February is expected to show a decrease to 9.5% in February from 9.6% in January. The producer price index from the 19-nation union is also coming out. In the afternoon, some speeches from FOMC members William Dudley, Patrick Harker and Jeffrey Lacker are scheduled...
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