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GBP/USD Fundamental Forecast – May 30, 2016

By:
Barry Norman
Published: May 27, 2016, 10:58 UTC

The GBP/USD dipped 9 points to trade at 1.4662 as the greenback gained on positive data. Fed Chair Janet Yellen is due to speak at an event hosted by the

GBP/USD Fundamental Forecast – May 30, 2016

The GBP/USD dipped 9 points to trade at 1.4662 as the greenback gained on positive data. Fed Chair Janet Yellen is due to speak at an event hosted by the Harvard University later today. Her speech comes after a slew of Fed policymakers from John Williams to Bill Dudley and James Bullard all sounded relatively hawkish. “I’m not sure how concerted this whole thing has been. If it’s all kind of planned or if it’s just individual members speaking,” Nordea Bank head of trading, Jesper Bargmann, said, referring to the Fed officials’ comments.

The pound strengthened after a poll ahead of Britain’s European Union membership referendum next month gave a six-point lead to the “in” camp, with 44% of respondents in a Survation telephone poll for online brokerage group IG saying they would vote to stay in the EU, compared with 38% who wanted to leave.

Several bookmakers also widened the odds of the so-called ‘Brexit’ occurring. That has bolstered investor confidence, with most economists and strategists saying a vote to leave the EU on June 23 would hurt the economy and weaken its currency.

FxEmpire provides in-depth analysis for each asset we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports, which covers the current week and are published by Sunday before the new week begins. Daily we share any new events, forecasts or analysis that affect the current day. To achieve a full accurate understanding it is important that you study all of our data and analysis as a whole.

gbpusd

Upcoming Economic Events that you should be monitoring:

Monday, May 30, 2016

Cur. Event Actual Forecast Previous  
    United Kingdom – May Bank Holiday
    United States – Memorial Day
  JPY Retail Sales (YoY) (Apr)     -1.1%  
  AUD HIA New Home Sales (MoM) (Apr)     8.9%  
  AUD Company Gross Operating Profits     -2.8%  
  CAD Current Account (Q1)     -15.4B  
  CAD RMPI (MoM) (Apr)     4.5%

Government Bond Auctions

Date Time       Country           Auction

May 30 11:10 Italy Holds bond auction

Jun 01 10:30 Denmark Holds bond auction

Jun 01 11:30 Germany Eur 4bn Apr 2021 Bobl

Jun 01 11:30 UK 1.5% 2021 Gilt

Jun 01 17:20 Sweden Announces details of bond auction on Jun 08

Jun 02 10:30 Spain Holds bond auction

Jun 02 11:03 Sweden Holds I/L bond auction

Jun 02 11:50 France Holds bond auction

 

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