Market Comment - 9th May 2022

Posted by Stuart PritchardMay 9, 2022

Good morning,

A quick recap of the data from Friday and overnight. The US nonfarm payrolls came in better than expected with growth of 428k jobs versus an expected 391k. That has bolstered the strength of the Dollar as would be expected.

Chinese exports came in way off the expected target. In the early hours the expectation was for 16.4% growth and it actually came in at 1.9% growth. This is almost certainly because of global inflation and a tightening of belts generally.

Business news continues to be dominated by cost of living problems with talk of energy prices and some people having to cut back on certain shopping basket items.

Today sees the Bank of Englands Michael Saunders giving a speech. Hopefully it will pave the way for a move up for the Pound which is still looking very weak versus both the Euro and the Dollar.

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: 14:00 BoE Michael Saunders Speech

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