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May 1st Market Updates

GBP/EUR rallied by 0.53% yesterday after opening at 1.1558, trading a high of 1.1639. a low of 1.1558 and closing at 1.1622.
GBP/USD closed the day up by 0.77% after opening at 1.2932, trading a high of 1.3049, a low of 1.2923 and closing at 1.3032.
Labour’s governing body has agreed to support a further referendum on Brexit under certain circumstances. The party will demand a public vote if it cannot get get changes to the government’s deal or an election.
Eurozone preliminary flash GDP q/q came in at 0.4% vs 0.3% expected.
Canadian GDP m/m came in at -0.1%.
US Chicago PMI came in weaker than expected at 52.6 vs 59.1.
US consumer confidence came better than expected at 129.2 vs 126.2.

Overnight

New Zealand employment change came in at -0.2% vs 0.5% expected. The unemployment rate came in at 4.2% as expected.
GBP/AUD, GBP/NZD and GBP/JPY are trading at 1.8518, 1.9618 and 145.62, respectively.

Today

UK manufacturing PMI came in as expected at 53.1 and net lending to individuals came in better than expected at 4.7B vs 4.5B.
ISM manufacturing PMI from the US is expected at 3pm.
The US Fed will announce the federal funds tate at 7pm and release their FOMC statement.
It is a bank holiday in Europe today.

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