All Eyes on the UK Employment Statistics?
18.05.2021
- Bostic (U.S.): Remarks by the President of the Atlanta Federal Reserve Bank
- UK Employment Statistics
Yesterday, stock prices fell in both European and U.S. markets, with the Dow Jones Industrial Average closing at $34,327, down 0.16% from the previous day. The New York Fed’s Manufacturing Survey (May), released yesterday, came in at 24.3—exceeding expectations—but had only a limited impact on the market.
In the foreign exchange market, Oceania currencies—which had been trading weakly—are now rebounding, and combined with the yen’s weakening trend, the AUD/JPY pair has risen from 84.45 to 85.05.The AUD/USD pair is also rising, climbing from 0.773 to 0.779, with Oceania currencies proving to be strong performers during today’s Asian trading session. However, the GBP/AUD pair is trending lower and has not managed to outperform the strength of the British pound.
Today, at 15:00, the UK will release its unemployment rate and jobless claims; at 18:00, the Eurozone will release its first-quarter GDP (final reading) and trade balance; and once U.S. trading hours begin, at 21:30, the U.S. will release housing starts and building permits,at 11:00 PM, remarks by Bank of England Governor Bailey and Deputy Governor Broadbent; at 12:00 AM, remarks by Swiss National Bank Governor Jordan; and at 12:05 AM, remarks by Dallas Fed President Kaplan.We will be closely monitoring how today’s economic data releases affect currency strength and weakness.
