Blueprint FX Desk
Blueprint Capital
Market Focus Today
U.S. ISM Manufacturing PMI
U.S. University of Michigan Confidence (APR)
Expect High Volatility in
European holiday
Overnight
Strength was seen in the Japanese labour market with the headline unemployment figure beating estimates at 3.4%. However, the inflation story, or lack of, continues with consumer prices only increasing by 0.7% year on year. Chinese economic sentiment eased growing concerns of a slowdown in the economy, with Manufacturing and Non-Manufacturing displaying a figure above 50 signalling an expansion.
News Roundup
Miliband defiant on SNP. The labour leader yesterday told an audience in Leeds, that he’d rather give up the keys to Downing Street than team up with Nicola Sturgeon after the general election. The comments came a day after an Ipsos-MORI poll in Scotland predicted the Nationalist Party would win all seats north of the border.
Greek woes continue. The government were left red faced as they struggled to get payments to more than 2m pensioners, blaming a technical hitch for the delayed disbursement. Elderly Athenians were left worried and in the lurch, with some waiting outside branches of the National Bank of Greece waiting for news.
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Editors’ Picks
EUR/USD retreats toward 1.0850 on modest USD recovery
EUR/USD stays under modest bearish pressure and trades in negative territory at around 1.0850 after closing modestly lower on Thursday. In the absence of macroeconomic data releases, investors will continue to pay close attention to comments from Federal Reserve officials.
GBP/USD holds above 1.2650 following earlier decline
GBP/USD edges higher after falling to a daily low below 1.2650 in the European session on Friday. The US Dollar holds its ground following the selloff seen after April inflation data and makes it difficult for the pair to extend its rebound. Fed policymakers are scheduled to speak later in the day.
Gold climbs to multi-week highs above $2,400
Gold gathered bullish momentum and touched its highest level in nearly a month above $2,400. Although the benchmark 10-year US yield holds steady at around 4.4%, the cautious market stance supports XAU/USD heading into the weekend.
Chainlink social dominance hits six-month peak as LINK extends gains
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Chainlink (LINK) social dominance increased sharply on Friday, exceeding levels seen in the past six months, along with the token’s price rally that started on Wednesday.
Week ahead: Flash PMIs, UK and Japan CPIs in focus – RBNZ to hold rates
After cool US CPI, attention shifts to UK and Japanese inflation. Flash PMIs will be watched too amid signs of a rebound in Europe. Fed to stay in the spotlight as plethora of speakers, minutes on tap.