Collinson Forex Daily Market Commentary and Market Calendar

Daily Market Commentary

Markets eased overnight, following the surge in confidence, triggered by the 90-Day Trade Agreement between China and the USA. The temporary agreement alleviates many market fears over the disruption to global trade. The focus then turned to US CPI inflation data, released overnight, which was benign. This was a further boost to market sentiment. The USD softened, allowing the EUR to regain 1.1150, while GBP recovered to trade 1.3250.
 
Commodity currencies are enjoying the return of confidence to global trade, as trade exposed economies and currencies, are beneficiaries of this. The AUD rallied to 0.6450, while the KIWI regained 0.5900. Attention remains focused on global trade wars, while GDP growth in Europe and inflation remain key measures.

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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