Anna 
EUR/USD continued to advance during the week, reaching a level above 1.0630, marking its highest point in more than two weeks before entering a consolidation phase.
Data released by the Office for National Statistics (ONS) on Thursday revealed that the United Kingdom’s real gross domestic product (GDP) expanded by 0.2% on a monthly basis in August, a welcome recovery following the 0.6% contraction witnessed in July. However, other economic indicators presented a less optimistic picture, with both industrial production and manufacturing production declining by 0.7% and 0.8%, respectively, during the same period. GBP/USD, despite the mixed data, exhibited minimal immediate reaction and remained stable above the 1.2300 level.
In the currency markets, USD/JPY saw modest gains on Wednesday, driven by comments from Bank of Japan (BoJ) board member Asahi Noguchi. Noguchi emphasized that policy decisions would primarily hinge on whether there is sustained momentum for wage increases, underscoring the BoJ’s focus on economic conditions.
Meanwhile, the gold market continued to reap the benefits of lower U.S. yields, extending the gains observed on Wednesday. Gold/USD saw upward movement in early Thursday trading and was last quoted at approximately $1,880.
The EUR/USD pair’s ascent to a two-week high reflects shifting dynamics in the forex market, influenced by various factors, including economic data and central bank policies. The GBP/USD pair, on the other hand, appears to hold steady despite mixed data from the UK, suggesting a degree of resilience in the face of economic uncertainties. These developments highlight the intricate nature of currency trading in the current financial landscape.
