We Expect High Trading Activity on EUR and GBP

Today the attention is focused on the ECB meeting and the elections in the UK. Most experts believe that the ECB will leave interest rates at the same level. At the same time, it is necessary to pay attention to the comments of representatives of the Central Bank. The regulator will publish updated economic forecasts and point to further plans for monetary policy.

In the UK parliamentary elections will be held today. Current polls indicate the victory of the Conservative Party with a margin of 10%. Participants of the financial markets are confident in the victory of the Theresa May's party. This is evidenced by yesterday's movement on the GBP/USD currency pair.

Yesterday in the market of "black gold" aggressive sales were observed. WTI oil lost more than 5% in price. This is due to a sharp increase in oil products in the US.

Market Indicators

Yesterday, the US stock market finished the trading session in the positive zone: #SPY (+0.19%); #DIA (+0.17%); #QQQ (+0.39%).

The 10-year US government bonds yield continues to recover. At the moment the indicator is at the level of 2.18%.

During yesterday's trading, the dollar index (#DX) increased by 0.12%.

Today it is necessary to pay attention to the following events:

  • – Parliamentary elections in Great Britain;
  • – Decision on the interest rate of the ECB at 14:45 (GMT+3:00);
  • – Speech of the head of the Bank of Canada Poloz at 18:15 (GMT+3:00).

by JustForex, 2017.06.08

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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