Speculation continues to grow that the US will need to cut interest rates this year, helped by comments from Fed chair Powell, in response to growing trade and inflationary risks.
Some forecasters expect a cut as early as next month, with potentially further cuts later this year.
This in turn has given US equity markets a boost.
Global economic data has continued to weaken, with the World Bank cutting its global growth forecasts for this year down to 2.6%.
The ECB yesterday kept policy on hold, but were also rather dovish in their assessment of the economy.
On the exchanges, we have seen some dollar weakness on the growing possibility of US rate cuts.
GBP/USD has moved off its recent lows of around 1.2600, but needs a break of 1.2750 to alleviate the immediate negative sentiment.
The key focus today is the US payrolls data at 1.30pm.
GBP/EUR continues to struggle around the 1.1300 level, whilst EUR/USD has started to gradually push higher on the generally weaker dollar.
|10/6/19||UK Industrial Prod. YoY||1.3%||1.0%|
|10/6/19||UK Manufacturing Prod. YoY||2.6%||2.4%|
|10/6/19||UK Construction Output SA YoY||3.2%||3.3%|
|10/6/19||UK Trade Balance||-£5408m||-£4200m|
|11/6/19||UK Average Weekly Earns. 3M/YoY||3.2%||3.0%|
|11/6/19||UK Unemployment Rate||3.8%||3.8%|
|12/6/19||US CPI YoY||2.0%||1.9%|
|Indices||Previous Close||YTD % Change|
|DFM GENERAL INDEX||2620||+3.56%|
UK Benchmark Rates
|3 month||0.78563%||2 year||0.83%|
|6 month||0.86538%||3 year||0.84%|
|12 month||0.97425%||5 year||0.89%|
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