Forex today was subdued in a dual holiday in both UK and the US. 

 

Forex today was subdued in a dual holiday in both UK and the US. 

Markets were, however, offering small-pip round turn opportunities in thin trade on the five-minute sticks but commitments from traders will return in full tomorrow on a very busy schedule for the US this week. 

For today, ECB’s Draghi’s testimony before the European Parliament was the only focus, although nothing new came of the details. “Draghi stressed the need for further monetary support, as despite the downside risks to the economic outlook have been diminishing, it’s too early to retrieve it,” as noted by Valeria Bednarik, chief analyst at FXStreet. She pointed out that the ECB are highlighting that the major issue, according to ECB’s head, was the underlying inflation that has remained subdued along with lackluster wage growth, ” wage grow this insufficient to support a durable and self-sustaining convergence of inflation toward the medium-term objective,” explained Bednarik. 

EUR was ending the day -0.11% between a range of 1.1162-1.1190. Yen: was flat on the day at 111.33, CAD showed some volatility, +0.07% between 1.3424-1.3470. GBP: +0.29% awaiting the Theresa May v Jeremy Corbyn TV debate that is getting underway at the time of writing. AUD: -0.08% between 0.7427-0.7450. NZD: flat on the day at 0.7061.

Day ahead in Asia: 

China is closed while there are a handful of low-key events from the calendar as follows: 

GMT
Event
Vol.
Actual
Consensus
Previous
MONDAY, MAY 29
22:45
NZD Building Permits s.a. (MoM)
 
 
 
-1.8%
23:01
EUR Consumer Confidence
 
 
 
 
23:30
JPY Unemployment Rate
 
 
2.8%
2.8%
23:30
JPY Jobs/applicants ratio
 
 
1.46
1.45
23:30
JPY Overall Household Spending (YoY)
 
 
-0.7%
-1.3%
23:50
JPY Large Retailer’s Sales
 
 
 
-0.8%
23:50
JPY Retail Trade s.a (MoM)
 
 
 
0.2%
23:50
JPY Retail Trade (YoY)
 
 
2.3%
2.1%

Watch the live coverage of ‘Theresa May v Jeremy Corbyn TV debate’:

Theresa May v Jeremy Corbyn TV debate: ‘The Battle for Number 10’ – Live

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