The pound has started the new week how it ended the last one: lower. It fell below the $1.34 handle for the first time since December earlier this morning before bouncing back slightly ahead of Brexit talks and publication of UK inflation data later in the week.

The EUR/USD is breaking down as the dollar upsurge continues as the euro is coming under increased pressure because of Italy's heightened political uncertainty and recent soft patch in Eurozone data.

The pressure on gold was actually building up even before the US data hit the wires. Despite the weakness in the stock markets, the perceived safe haven metal finally took out the liquidity that was resting below $1300 in a sharp move as the bulls lost control of the 200-day average support at $1306.

The CAD’s drop was more pronounced against the euro, with the latter managing to catch a bid earlier today. Consequently, the EUR/CAD managed to hold its own above the 200-day moving average and long-term trend line around the 1.5200 area for the second consecutive day.

The US dollar is down for a second consecutive day after the US CPI became the latest measure of inflation to disappoint expectations on Thursday.

USD/CAD fell sharply for a second day in a row on Thursday as a combination of factors helped to weigh on the US dollar while boosting the Canadian dollar. This USD/CAD drop has occurred immediately ahead of key Canadian jobs data for April to be released on Friday.

Super Thursday lived up to its name, although for the pound it was anything but. But it has been a Super Thursday for global stocks as investors’ worries over interest rate rises eased further.

The UK’s FTSE 100 index has had an amazing run of late, outperforming many of its peers. It has been supported above all by a weaker pound after a run of poor economic pointers sharply reduced the probability of a Bank of England rate increase in May.

It had fallen viciously for three weeks and the selling gathered pace ever since the Bank of England Governor Mark Carney strongly hinted at the prospects of no interest rate rises this month, owing to weakness in UK data.

Thursday brings the highly anticipated Bank of England monetary policy decision.

Crude oil turned volatile on conflicting reports about Iran deal earlier today, with US President Donald Trump set to announce his country’s decision in just over an hour at 19:00 BST.

The breakout comes ahead of US President Donald Trump’s key decision later on today on Iran. Trump must decide whether his country should withdraw from the international deal offering Iran relief from sanctions in return for dropping its nuclear weapons development programme.

With the Federal Reserve decision and US monthly jobs report out of the way this past week, currency markets are looking next to two other key central banks that will be reporting their latest policy decisions in the week ahead – the Bank of England and the Reserve Bank of New Zealand.

One of the weakest currencies of late has been the pound. It has fallen viciously ever since the Bank of England Governor Mark Carney strongly hinted at the prospects of no interest rate rises this month, owing to weakness in UK data.