Market insights

Market Comment - 6th April 2023

Good morning,

The long weekend is upon us. Please bear in mind that currency markets will remain open in their usual way i.e. closing on Friday night and reopening on Sunday night. However the ability to execute a trade won't be available between the close of Thursday and the reopen of Tuesday. If their are any trades needed in the closed dates or if potential volatility needs to be avoided for imminent trades there could be an argument to get trades done.

Yesterday was as expected. Status quo in the currency markets. GBP/EUR continued to track up whilst GBP/USD tracked sideways.

Today it could be all about GBP/CAD as Canada it's employment data where analysts are expecting the unemployment rate to move up to 5.1% from 5%.

At the same time this afternoon there's initial jobless claims out from the US where it's expected there will be 200,000 initial jobless claims. This isn't a change in employment numbers as in the same period there will have been people entering the workforce.

Other than that it's a quiet run in....or is it? Just the small matter of the US non farm payrolls tomorrow and Chinese inflation numbers early Tuesday! Both keenly watched numbers. The former as an indication of the economic health of the biggest economy in the world and the latter as an indication of the second largest economy. Analysts are expecting 240,000 jobs to have been added in the US and for Chinese annual inflation to have grown a mere 0.1%.


Today’s Economic Calendar

CAN: 13:30 Unemployment Rate

US: 13:30 Initial Jobless Claims

US: Friday 13:30 Non Farm Payrolls

UK: Tuesday 00:01 BRC Like for Like Retail Sales

CHN: Tuesday 02:30 Inflation Data


As ever we look forward to keeping you in the loop and look out for our next update.

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