A ‘Sideways’ Day
Yesterday saw positive UK manufacturing date push GBP/USD over the 1.6900 mark.
It has since fallen back below this significant level, but only by a fraction.
The same UK manufacturing data, coupled with public holidays across much of the Eurozone, allowed GBP/EUR to push towards the 1.2200 mark. However, all in all yesterday was a fairly ‘sideways’ day.
Later today at 1.30pm BST, the focus of global markets will be on the US payrolls. The report has the potential to guide the next directional move for the dollar and for other sectors of global markets. The market expectation is for circa 218K of jobs to have been added to the economy, bringing the headline unemployment rate down from 6.7% to 6.6%.
In other news, CurrencyUK will be closed Monday 5th May due to the UK Bank Holiday. All calls and e-mails will be unable to reach us, and will be answered the next day. Enjoy the 3-day weekend!
Photo: © boltron / photopin