Morning Market Update – Pound in Troubled Waters

So Far

New Zealand Food Price Index (MoM) down to -0.8% in April from previous -0.3% RBNZ maintained the OCR at 1.75%. RBNZ policy are set to remain on hold for a considerable period and it has no interest in making any changes.

Japan Foreign investment in Japan stocks declined to ¥241.5B in May 5 from previous ¥258.4B

Japan Foreign bond investment: ¥426.1B (May 5) vs ¥-1283.8B

Japan Current Account n.s.a. climbed from previous ¥2813.6B to ¥2907.7B in March

Japan Current Account n.s.a. climbed from previous ¥2813.6B to ¥2907.7B in March

Japan Bank lending (YoY) registered at 3%, below expectations (3.2%) in April

The People’s Bank of China (PBOC) set the Yuan mid-point rate at 6.9051 vs. the previous day’s fix of 6.9066.

Coming Up

Moving on for the day we are up next with Japans Eco Watchers Survey: Current, and Eco Watchers Survey: Outlook, which look slightly to the down side and should cause some trouble for the yen market.

Germany have Wholesale Price Index and seems to have slowed down bit since the last release and may look further towards the downside.

Swiss data release Consumer Price Index seems to be on the negative as they are forecasted at 0.5% as against the previous release of .6%.

Pounds looks to be in troubled waters for the day after going stronger in recent days as Manufacturing Production are forecasted negatively at 3.1% against previous of 3.3%, along with Industrial Production which has been forecasted at 2.4% against 2.8% and look further to the downslide in the day. With interest rate decision looks to remain at 0.25%, BoE Asset Purchase Facility too remains the same as previous release at 435B, BOE MPC Vote Unchanged have a slight change at 7 compared to previous of 8.

Canadian New Housing Price Index seems to be on the rise and shall be looking forward to rise from 3.3% in the day. With BoC Review to be released later in the day should be seeing any support for the Canadian dollar.

The US Dollar has the Continuing Jobless Claims which has been seen a gradually decreasing look further more to decline and boost them with Initial Jobless Claims too give good support and considerably showing better results.