Market Comment - 21st May 2021

Posted by Stuart PritchardMay 21, 2021

Good Morning,

Retail sales have rocketed up in April; sales rose by 9.2% in April after the lockdown measures were eased. Clothing sales rose by nearly 70% in comparison to the month before. Sales were over 10% above what they were before the pandemic, the online sales have dropped very slightly.

Initial jobless claims in the US came to 444k which was slightly below what was predicted (450k). Labour markets are improving following the recent downward trend.

Like the recent days, there has been minimal action within the currency markets; the major currency pairs are still trading within narrow ranges as they have been for the last few days. 

The dollar has a bit more of a softer tone as shown in EUR/USD this morning, there is a similar tone within the GBP/USD pair. EUR/GBP remains around the mark it was sitting at yesterday, with minimal changes. Sterling remains strong against the other major currencies such as the euro and dollar.

This morning, UK retail sales are above predictions of 4.5% as they have risen by 9.2%; this is higher than they were before the pandemic by around 10%.

Looking at the day ahead, the UK, US and Eurozone flash PMIs for May are expected for May; the main tone predicted here is that the UK and US’s economy will proceed to keep growing and continue to get stronger. As well as this, Eurozone customer confidence and US existing home sales will be released today.

Our friendly currency experts are here to assist you and guide you through the markets, we offer a first-class service and even an online platform so you can monitor your transaction in real time.

Our business ethos is based on bank beating rates and fantastic customer service, click the link below for a no obligation quotation and see the savings for yourself.

Todays Economic Calendar 

Fri 21st UK: 00:01 Gfk Consumer Confidence (May)

JPN: 00:30 CPI (April)

- Core

JPN: 01:30 Flash Jibun Manufacturing PMI (May)

UK: 07:00 Retail Sales (April)

- Ex-Fuel

FRA: 08:15 Flash Markit Composite PMI (May)

GER: 08:30 Flash Markit Composite PMI (May)

EU-19: 09:00 Flash Markit Composite PMI (May)

- Manufacturing / Services 62.9 / 50.5 62.4 / 52.0 UK: 09:30 Flash Markit Composite PMI (May) 60.7 61.8 - Manufacturing / Services 58.9 / 61.0 60.0 / 62.0 US: 14:45 Flash Markit Composite PMI (May) 63.5 63.4 - Manufacturing / Services 60.5 / 64.7 60.4 / 64.6 US: 15:00 Existing Home Sales (April) +6.01m / -3.7% +6.06m / +0.8% EU-19: 15:00 Flash Consumer Confidence (May)

UK: 09:30 Flash Markit Composite PMI (May)

- Manufacturing / Services

US: 14:45 Flash Markit Composite PMI (May)

© 2022. RegencyFX Ltd. All rights reserved. *Third party fees may apply.

Payment services for RegencyFX Ltd are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: The Steward Building 1st Floor, 12 Steward Street London E1 6FQ.

The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199). In the US Currency Cloud operates in partnership with CFSB. CFSB fully owns the bank program and services are provided by The Currency Cloud Inc.

Payment services for Regency FX Ltd are provided by Sciopay Ltd. Sciopay Ltd is a company incorporated in England & Wales. Registration No: 12352935. Sciopay Ltd is licensed and regulated by HMRC as a Money Service Business (MSB).

License No: XCML00000151326. Sciopay Ltd is authorised by the Financial Conduct Authority as an Authorised Payment Institution. Firm Reference Number: 927951

Currency Pairs, Approved Jurisdictions and Non-Permitted Activity

linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram