blackfriars bridge evening

Quiet Monday as politics remain in focus

25th April 2017 Market Update

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🇬🇧 GBP – There was no significant data from the UK yesterday, and no significant developments in the general election. The only thing of note was that labour plans to propose it’s only Brexit blueprint, but this had no impact on the market. Today is another quiet day for the UK, with only public sector borrowing being released. This is not expected to have a significant effect on the rates.

🇪🇺 EUR – The euro settled down after the election result, and again there was minimal movement Monday. This was despite the German IFO business climate coming in above expectations. All eyes remain on France, where the polls suggest a clear Macron victory at the moment.

There is a bank holiday in Italy today, so no payments will going through to there.

🇺🇸 USD – It was also a quiet day for the US yesterday, with no data of note being released. This afternoon, consumer confidence is being released by the US, and this is expected to show a slight fall which could weaken the dollar.

 

Key Announcements

🇪🇺 EUR
Italian Bank Holiday.

🇺🇸 USD
3.00PM – CB Consumer Confidence.

 

Our View: In light of the events in France this weekend, it has become apparent that the pound may have had its time in the sun. The euro is anticipated to strengthen further, as Macron looks likely to be named the outright winner in a few weeks time.

 

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Darren Kilner

Darren Kilner

Darren is Head of Dealing at FairFX. Darren lives and breaths FX, his Mastermind topics are G8 currencies and economic forecasts.

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