Today’s Important Indicators

Today we are expecting two important releases, the UK Retail sales and Canada CPI.

Anticipation builds up for the French Elections this weekend, find out more about how the French Elections will affect your trading strategy here.

Today’s Forecast for Important Trading Indicators

 Time in GMT Country Indicator Expected Previous
09:30 UK Retail Sales m/m -0.3% 1.4%
13:30 CAD CPI mm 0.4% 0.2%

Market Movers

  • The GBPUSD was struggling yesterday to stay above the 1.2800 level. Having peaked at 1.2900 level, the highest since 6 months, after May’s surprise announcement for a snap elections, the pair seems to have moved into consolidative phase and has difficulty to advance more. Traders might be focused today to position themselves before the first round of the French elections.
  • The Eurozone has seen substantial upward momentum in its PMIs over the last year, and this might help strengthen the EUR across the board. Analysts are looking for the German manufacturing PMI to increase to 58.7 and French services PMI to advance as well.
  • In Asia, the JPY strengthened and was trading around 109 against the USD, as the yen bulls took control following the release of strong Japan’s manufacturing PMI data, which showed that the gauge hit the highest levels in two-months.

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