Market insights

Market Comment - 27th May 2021

Good morning ,

This morning, health secretary Matt Hancock is making an appearance in the Commons to talk about the government’s handling of the Covid pandemic, following Dominic Cummings appearance yesterday.

The US and China’s top trade negotiations have help “candid, pragmatic” talks. This is their first meeting since Joe Biden became the US president.

In regards to the currency markets, the dollar has been holding a slightly stronger tone; part of this is due to the comments from Fed official Quarles. The Fed minutes conveyed that some of the members wished to discuss plans to taper. This caused the dollar to grow slightly stronger.

You can see the stronger tone of the dollar in the EUR/USD currency pair from this morning. The GBP/USD pair has fallen very slightly as the dollar has very slightly picked up. EUR/GBP remains trading within similar ranges that it has the last couple of days.

Looking forward at the day today, the initial jobless claims in the US are predicted to keep going down as it has moved lower over the last 6 weeks. There is an increase expected for durable goods in April by 0.7%.

This data is not likely to affect the currency markets; due to this, they are expected to trade within narrow ranged today as the major FX pairs are not affected by today’s data releases.

Our friendly currency experts are here to assist you and guide you through the markets, we offer a first-class service and even an online platform so you can monitor your transaction in real time.

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Todays Economic Calendar

Thu 27th GER: 07:00 Gfk Consumer Sentiment (June )

ITA: 09:00 ISTAT Business Confidence (May)

ITA: 09:00 Consumer Confidence (May)

EU-19: 10:00 Business Climate (May)

US: 13:30 Durable Goods (April)

- Ex– Transport

US: 13:30 Q1 GDP (Second Reading) 

US: 13:30 Q1 PCE Deflator (Second Reading)

- Core PCE Deflator

US: 13:30 Initial Jobless Claims (w/e 17th May)

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