ANZ: USD and GBP outlook for the coming week ...Middle East

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ANZ: USD and GBP outlook for the coming week
ANZ provides insights into the outlook for the USD and GBP in the upcoming week, focusing on the impact of recent macroeconomic data and positioning trends.Key Points:USD Outlook:Macroeconomic Stability: Despite market reactions suggesting otherwise, ANZ believes the US macroeconomic backdrop is not as dire. The labor market is easing but trending towards normalization rather than a recession.ISM Services Employment: The ISM services employment index for July hit a 10-month high at 51.1, indicating resilience in the labor market.Weather Impact on Payrolls: July's household survey showed a larger-than-normal number of workers impacted by bad weather. The San Francisco Fed's weather-adjusted p

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