Weekly Market Report- 30/05/2017
Sterling suffered some heavy losses against the Euro and the Dollar over the course of last week. This came after the news that Labour had cut the Tory lead in half, and was only trailing by 5 points leading up to the UK general election on June 8th. GBP/EUR ended the week at 2 month lows at the 1.1450 and GBP/USD ended the week at 1.2800.
In the US, the Dollar had a small boost on Friday as key data releases came in above expected. All eyes will be on the US this Friday as Non-farm Payrolls for May will be released. This tends to cause volatility in the market with a positive reading
A Euro surge against the Dollar came to halt last week as the Greenback made some gains with EUR/USD falling back down to the 1.11 mark.
Over the course of the next two weeks all eyes will be on the UK leading up to the UK general election. In these volatile times buying your required currency is tough to predict. The best way to plan your currency transfer is to discuss with your trader to offer you the various tools and data releases to get the best out of your currency transfer.
Key Data Releases
Wed- EUR unemployment rate
Thu- US ISM prices paid (May)
Fri- US Nonfarm payrolls