Meanwhile, on the other side of the Atlantic, the economic data from the U.K. continued to surprise analysts and markets to the upside, driving the Pound to new highs. The Pound closed the week at 1.7152 versus the U.S. counterpart rising 0.69% over the previous five working days. The Sterling has strengthened broadly since the beginning of this year, gaining more than 15% against the greenback amid expectations that the robust U.K. recovery will prompt the BoE to raise rates before the end of the year. Meanwhile, the Eurozone continued to show uneven economic picture, with periphery countries showing signs of steady recovery, while the core countries posted weaker economic data. The EUR/USD ended Friday's trading session at 1.3594, down 0.35% for the week, following better-than-expected U.S. employment report.
The Australian Dollar skyrocketed to its highest level in 2014 amid the Reserve Bank of Australia's decision to maintain the benchmark interest rate unchanged at 2.5% for the eleventh straight month.
This week's key highlights will be confidence gauges in Australia, business activity in the U.K., as well as the FOMC meeting minutes. In addition, the data on Thursday will show whether the U.S. economy is capable to sustain the pace of job creation and whether the BoE will leave it benchmark interest rate unchanged.