Market Comment - 31st May 2022

Posted by Stuart PritchardMay 31, 2022

Good morning,

GBP/EUR and GBP/USD remain in a sideways pattern at the moment. Against the Euro the Pound is relatively mid range and against the Dollar the Pound is still towards the bottom of recent rates.

Business news is dominated by travel chaos for the half term as flights by many airlines are being cancelled from most airports. Other than that it's the ongoing cost of living situation that is being talked about with Primark the latest to announce imminent price rises.

Today sees an indication of the Eurozone inflation position as Eurostat releases their preliminary inflation numbers shortly.

Through the day US President, Joe Biden, is meeting the FED's Jerome Powell which could have an impact on USD rates.

There's also Consumer Confidence numbers out from the US later followed by Australian GDP data out in the early hours of the morning.

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: 10:00 Eurostat Inflation Numbers

US: Joe Biden Meets Jerome Powell

US: 15:00 Consumer Confidence

AUS: Wednesday 02:30 GDP Data

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