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Market Comment - 19th May 2022

Posted by Stuart PritchardMay 19, 2022

Good morning,

Global markets have taken a downturn today. The reason has been put down to the aforementioned global inflation position and the cost of living crisis starting to unfold. Added to that is the ongoing conflict in Ukraine which is also predicted to impact global food prices.

Pound rates have maintained a relatively mid range level versus both the Dollar and the Euro overnight. The initial hiatus following the UK's employment data is now priced in which has brought the Pound up from the lows versus the Dollar and has moved the Pound back into the middle of the mid term range versus the Euro.

Today sees the ECB release it's Monetary Policy Meeting Accounts at lunch time followed by US employment data. This could affect Euro's and Dollars respectively. Overnight there's the People's Bank of China interest rate decision and then there's the UK's retail sales numbers out at breakfast time tomorrow.

As ever we look forward to keeping you in the loop and look out for our next update.

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Today’s Economic Calendar

EUR: 12:30 ECB Monetary Policy Meeting Accounts

US: 13:30 Employment Data

CHN: Friday 02:30 PBoC Interest Rate Decision

UK: Friday 07:00 Retail Sales

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