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May 2nd Market Updates

GBP/EUR rallied by 0.27% yesterday. The market opened at 1.1621, traded a high of 1.1658, a low of 1.1621 and closed at 1.1653.
GBP/USD traded a high of 1.3102 after opening at 1.3032 yesterday before closing at 1.3049 – up by 0.13% on the day.
UK Prime Minister Theresa May has sacked defence secretary Gavin Williams and MPs are calling for an investigation by police after he allegedley leaked information about Chinese mobile company Huawei from a confidential meeting.
US ADP non-farm employment change came in better than expected at 275K vs 181K expected.
The US Fed held rates at <2.50% as expected. In the Fed statement, their language was largely unchanged and it reiterated their non-committal pledge to remain ‘patient’.
CNBC reported that the US-China trade deal could be struck by next Friday.
The Times are reporting that UK PM May is preparing to remain in lock step with EU customs rules for years after Brexit as she tries to appease Labour.

Overnight

GBP/AUD, GBP/NZD and GBP/JPY are trading 1.8611 (+0.09%), 1.9705 (+0.02%) and 145.76 (+0.26%), respectively.

Today

We hear from the Bank of England today with rates expected to remain at 0.75%. The Monetary Policy Committee vote is expected to be 9-0 in favour of keeping rates unchanged.
Bank of England governor Mark Carney is expected to speak at 12.30.

MAJOR CURRENCY PAIRS
Current at time of distribution

ECONOMIC CALENDAR
Current at time of distribution

Time (GMT)	Region	Data Release	Forecast	Previous
12:00	GBP	BOE Inflation report
12:00	GBP	MPC Bank Votes	0-0-9	0-0-9
12:00	GBP	Monetary Policy Summary
12:00	GBP	Official Bank Votes	0.75%	0.75%
12:00	GBP	Asset Purchase Facility Votes	435B	435B
12:00	GBP	MPC Asset Purchase Facility Votes	0-0-9	0-0-9