Pound Tracking Sideways - MI030624

June 3, 2024
Pound Tracking Sideways - MI030624

The trading week has started more or less where it left off on Friday.

GBP/EUR and GBP/USD are both tracking sideways at the moment.

It could be US manufacturing data later this afternoon that could move the USD rate.

Other than that it's a quiet day for scheduled news.

There is UK retail sales numbers out at midnight, so that could shed a light on the UK economy.

Business news is dominated by a potential initial public offering (IPO) of the Chinese online fashion company, Shein. Estimates put it's value in excess of £50 billion.

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Economic calendar

US: 15:00 ISM Manufacturing PMI

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

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

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