Sterling found itself under renewed selling pressure on Thursday as fears heightened over Theresa May losing control of parliaments in Britain’s June 8 election. Stock markets were mostly mixed amid the uncertainty and political risk across the globe. The Dollar struggled to maintain gains after the mixed bag of economic data from the US weighed on sentiment. In the commodities arena, OPEC’s disappointment has had a damaging impact on oil markets with prices struggling below $50. In the UK, the main event risk will be the manufacturing PMI data for May.
– The #EURUSD is heavily bullish on the daily charts – #GBPUSD bears are eyeing 1.2775 – #Gold has found comfort above $1260 – #WTI Crude pressured below $50
Sterling found itself under renewed selling pressure on Thursday as fears heightened over Theresa May losing control of parliaments in Britain’s June 8 election. Stock markets were mostly mixed amid the uncertainty and political risk across the globe. The Dollar struggled to maintain gains after the mixed bag of economic data from the US weighed on sentiment. In the commodities arena, OPEC’s disappointment has had a damaging impact on oil markets with prices struggling below $50. In the UK, the main event risk will be the manufacturing PMI data for May.
– The #EURUSD is heavily bullish on the daily charts
– #GBPUSD bears are eyeing 1.2775
– #Gold has found comfort above $1260
– #WTI Crude pressured below $50
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