Following the election yesterday, the Conservatives took Hartlepool seat from Labour, this is the first time Hartlepool has had a Conservative MP since the constituency’s creation when Jill Mortimer won the by-election.
There was a total of 16 candidates in the election, Conservative Ms Mortimer won with 15,529 votes. Labour received 8,589 votes.
There has been a rather varied tone within the economic calendar yesterday; the major currency pairs stay range bound, there was a partially stronger tone to the Euro.
The main event from yesterday was the Bank of England monetary policy meeting; the BoE has not changed the interest rates.
Nevertheless, the central bank revealed that they will lessen their weekly asset purchases from £4.4bn to £3.4bn. The GBP forecast was also amended from 5% to the higher 7.25%; during the announcement there was some volatility with sterling however, it simmered down throughout the afternoon trading session.
The stronger tone to the Euro is shown in the EUR/USD opening this morning and the EUR/GBP is slightly rising, GBP/USD remains mostly unchanged from yesterday.
Initial jobless claims continued to trend lower in the US, falling below 500K for the first time since the global Covid-19 pandemic began.
Looking forward to today the main event will be the U.S Labour Market Report for April, payrolls are expected to go up close to 1m due to the US labour market. Regarding the jobless rate, it is looking to go slightly lower from 6% to 5.8%.
Data-wise, initial jobless claims continued to trend lower in the U, predicting to be below 500K for the first time since the global Covid-19 pandemic began.
The green list with countries you can travel to from the UK will also be revealed today. Travellers to countries on the green list will still have to take part in some active measures to stop the spread of the virus; this will include taking a private Covid test in their holiday destination before returning to the UK.
They will also need to fill out a passenger locator form online before they leave their holiday. If their test results come back negative, then there is no need to quarantine upon arrival back to the UK.
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Todays Economic Calendar
GER: 07:00 Industrial Output (March) -
GER: 07:00 Trade Balance (March)
FRA: 07:45 Industrial Output (March)
FRA: 07:45 Trade Balance (March)
ITA: 09:00 Retail Sales (March)
US: 13:30 Non-Farm Payrolls (April)
- Unemployment Rate
- Average Earnings (April)
US: 20:00 Consumer Credit (March)
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