The British Currency is Under Pressure

At the moment, the pound remains under pressure due to rising political risks. It is to be recalled that early parliamentary elections in the UK will be held on June 8. The latest polls showed that the Conservative Party margin has decreased to 6%.

During the Asian trading session, mixed economic reports from Japan were published. In April, the household spending index increased by 0.5%, which is less than the forecasted value of 1.1%. The volume of retail sales grew by 3.2%. Market expectations were at the level of 2.3%.

In Australia, construction permits (in April) increased by 4.4%. Experts expected the indicator to be at the level of 3.0%.

China's financial markets are closed today due to the holiday.

Market Indicators

Yesterday, exchanges in the US were closed. At the moment, the bullish sentiment prevails in the US stock market. Over the past week, #SPY (SPDR S&P 500 ETF) increased by 1.43%.

Today, the 10-year US government bonds yield demonstrates negative dynamics. At the moment, the indicator is in the range of 2.23-2.24%.

The dollar index (#DX) is being traded in the positive zone (+0.27%).

It is necessary to pay attention to the following events:

  • – Germany's consumer price index (15:00 GMT+3:00);
  • – the consumer confidence index in the US (17:00 GMT+3:00).

by JustForex, 2017.05.30

We recommend 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.