Collinson Forex Daily Market Commentary

Daily Market Commentary

US Markets were closed for Independence Day celebrations, which may extend to a 4-day carry-over long weekend for many, while the UK go to the Polls. The UK election will almost definitely rid Britain of a shockingly bad woke-Conservative Government, but is likely to be replaced by an even more 'woke-Socialist-Labour' Government. This will not be good for the people of the UK,  but at the end of the day, you get what you vote for. The markets anticipate little change in direction of the British economy and the GBP has actually rallied, leading into the Polling Day, moving up to 1.2750.

Commodity currencies took advantage of US holidays and the softer reserve, with the NZD regaining 0.6100, while the AUD rallied above 0.6700. Australian trade data was weaker than expected, as exports failed to meet expectations, with slower demand from China. Markets will be quiet as the US holidays, while there will be some interest in the Non-Farm Payrolls, set to be released tonight.

Paul Bettany   I   Collinson Forex Limited    Collinson & Co.  

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