Market Comment - 4th May 2022

Posted by Stuart PritchardMay 4, 2022

Good morning,

Today sees the start of a lot of data. European Retail Sales are out first followed by the FED's interest rate decision. However it's likely the UK's interest rate decision tomorrow will be what moves the Pound rates the most.

The FED is expected to hike their rate by 0.5% to 1% which is the expected level for the UK tomorrow also.

Anything outside of this will cause big moves in the Dollar rate and Pound rates. From the UK perspective there will also be close eyes on the number of votes for the rate hike. Last time saw an unexpected turn of events when one member of the MPC voted for no rate hike.

Other than that the Pound remains relatively weak against the Dollar and the Euro so it's all down to the interest rate decisions today and 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: 10:00 Retail Sales

US: 19:00 FED Interest Rate Decision

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