🎙️ FX Talk | Get updated on what's happening on the financial markets in 20 min. listen here.
-
AU
- Australia - English
- België - Nederlands
- Belgique - Français
- Canada - English
- Česká Republika - Čeština
- Deutschland - Deutsch
- España - Español
- France - Français
- Ελλάδα - Ελληνικά
- Hong Kong - English
- Italia - Italiano
- Luxembourg - English
- Nederland - Nederlands
- Polska - Polski
- Portugal - Português
- România - Română
- Schweiz - Deutsch
- Suisse - Français
- United Arab Emirates - English
- United Kingdom - English
- Hong Kong-Traditional Chinese
Ebury London
100 Victoria Street
London
SW1E 5JL
+44 (0) 20 3872 6670
[email protected]
Ebury.com
Euro bounces back on May inflation data, Pound reacts negatively to the latest polls
- Go back to blog home
- Latest
1 June 2017
Chief Risk Officer at Ebury. Committed to mitigating FX risk through tailored strategies, detailed market insight, and FXFC forecasting for Bloomberg.
The Euro bounced back modestly as markets looked past weak Eurozone inflation data as the common currency continues to be well supported by foreign inflows looking to buy European stocks.
Not a lot in the way of major releases today. Currencies should stay on a holding pattern as we wait for the critical US payroll report on Friday.
Major currencies in detail
GBP
Sterling continues to trade completely in reaction to the latest election polls. It first dipped to a five-week low as YouGov posted a projection that had the Tories fall short of a Government majority. Other polls released later in the day had the Tories well ahead with a comfortable double digit lead and the Pound recovered.
While YouGov has consistently predicted a tighter race than other polls, some were questioning their methodology on the basis that it overestimates the turnout of young voters.
EUR
Eurozone inflation fell back sharply in May, down 0.5% to 1.4$ on the year. The key core inflation gauge, closely watched by the European Central Bank, also fell back a full 0.3% to 0.9%, unwinding all its gains of the past few months.
This is not a result the ECB will like, and it lowers the likelihood that there will be significant changes to the outlook at next week’s meeting.
The common currency however shrugged off these news and bounced back slightly as technical factors continue to drive thin trading ahead of Friday’s US job report.
USD
The Federal Reserve Beige Book report on the economy, compiled by the regional branches, continued to paint a picture of modest improvement in the absence of significant upward pricing pressure.
The Dollar put in a mixed performance but fell very slightly in trade weighted terms.
Cookies and Privacy
This site uses cookies to ensure you get the best experience. For more information see our Privacy NoticeAccept Settings Reject
Privacy Overview
Cookie | Duration | Description |
---|---|---|
cookielawinfo-checkbox-advertisement | 1 year | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Advertisement". |
cookielawinfo-checkbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checkbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |
Cookie | Duration | Description |
---|---|---|
_ga | 2 years | This cookie is installed by Google Analytics. The cookie is used to calculate visitor, session, campaign data and keep track of site usage for the site's analytics report. The cookies store information anonymously and assign a randomly generated number to identify unique visitors. |
_ga_DGRPXRE06R | 2 years | This cookie is installed by Google Analytics. |
_gat_gtag_UA_51187572_49 | 1 minute | This cookie is set by Google and is used to distinguish users. |
_gid | 1 day | This cookie is installed by Google Analytics. The cookie is used to store information of how visitors use a website and helps in creating an analytics report of how the website is doing. The data collected including the number visitors, the source where they have come from, and the pages visted in an anonymous form. |
CONSENT | 16 years 4 months | These cookies are set via embedded youtube-videos. They register anonymous statistical data on for example how many times the video is displayed and what settings are used for playback.No sensitive data is collected unless you log in to your google account, in that case your choices are linked with your account, for example if you click “like” on a video. |
pardot | past | The cookie is set when the visitor is logged in as a Pardot user. |
Cookie | Duration | Description |
---|---|---|
IDE | 1 year 24 days | Used by Google DoubleClick and stores information about how the user uses the website and any other advertisement before visiting the website. This is used to present users with ads that are relevant to them according to the user profile. |
test_cookie | 15 minutes | This cookie is set by doubleclick.net. The purpose of the cookie is to determine if the user's browser supports cookies. |
VISITOR_INFO1_LIVE | 5 months 27 days | This cookie is set by Youtube. Used to track the information of the embedded YouTube videos on a website. |
YSC | session | This cookies is set by Youtube and is used to track the views of embedded videos. |
yt-remote-connected-devices | never | These cookies are set via embedded youtube-videos. |
yt-remote-device-id | never | These cookies are set via embedded youtube-videos. |
Cookie | Duration | Description |
---|---|---|
_lfa | 2 years | This cookie is set by the provider Leadfeeder. This cookie is used for identifying the IP address of devices visiting the website. The cookie collects information such as IP addresses, time spent on website and page requests for the visits.This collected information is used for retargeting of multiple users routing from the same IP address. |