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Market Comment - 23rd May 2022

Posted by Andy DyerMay 23, 2022

Good morning,

Over the weekend there wasn't much scheduled news to move the FX markets. GBP/EUR has been running steadily upwards and the rate now sits towards the upper end of the mid term range. GBP/USD has been performing similarly too with the rate up from the recent lows and looks set to keep steadily increasing.

There is UK scheduled news out today and breakfast time tomorrow which could affect this. Firstly the Bank of England's Governor, Andrew Bailey, gives a speech later in the afternoon and the UK Public Sector Net Borrowing numbers are released early tomorrow.

Tomorrow also sees a glut of data out from Europe and the UK primarily being the index readings for manufacturing and the services sector so perhaps there will be more movement 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

UK: 17:15 BoE Andrew Bailey Speech

UK: Tuesday 07:00 Public Sector Net Borrowing

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