Collinson Forex Daily Market Commentary and Market Calendar

Daily Market Commentary

Markets closed off a sold week flat, following the announcement of the first major trade deal, made with the US since 'Liberation Day'. The UK and the US signed a Trade Agreement, setting a precedent, others are expected to follow in quick time. The US Treasury Secretary meets, this coming weekend in Switzerland, with China. This is the key trade agreement and progress is expected. The US Dollar continued to book gains, with the EUR drifting back towards 1.1200, while the GBP attempts to hold 1.3300. This coming week on markets welcomes a deluge of economic data, from across the globe, including GDP growth data and inflation numbers from both sides of the Atlantic.
 
The rising reserve has flattened out the commodity currencies recent gains, with the AUD falling back to 0.6400, while the NZD looks to hold 0.5900. Markets will be focused on US Trade agreements as wells as growth and inflation data over the coming trading week.

Dates & Headline

12/5 Japan Current Account, Japan Trade
 
13/5 Bank of Japan Minutes, Australian Consumer/Business Confidence, UK Employment, German/EU ZEW Economic Sentiment, NFIB Small Business Optimism, German Current Account, US CPI
 
14/5 NZ Credit Card Spending, Japan PPI, German CPI, US Weekly Mortgage Applications
 
15/5 NZ Food Price Inflation, Australian Inflation Report, Australian Employment, UK GDP, UK Industrial/Manufacturing Production, UK Trade Exports/Imports, France CPI, EU Employment, EU GDP, US Weekly Jobless Claims, Empire State Manufacturing Index, Philly Fed Manufacturing Survey, US PPI, US Retail Sales, NAHB House Market Index
 
16/5 NZ Business PMI, Japan GDP, RBNZ Inflation Report, Japan Industrial Production, EU Trade, US Building Permits, US Housing Starts, University of Michigan Economic Sentiment

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