Table of Contents

You may also like:

COVID-19 Jitters Hit Early as Focus Shifts to the BoE and the Pound…

For the Kiwi Dollar

The New Zealand economy contracted by 1.6% in the 1st quarter, following 0.5% growth in the 4th quarter. Economists had forecast a 1% contraction.

The Kiwi Dollar moved from $0.64757 to $0.64562 upon release of the figures. At the time of writing, the Kiwi Dollar was down by 0.46% to $0.6427.

For the Aussie Dollar

It was the all-important employment figures this morning.

Total employment slid by 227,700 in May, following a 594,300 tumble in April. Economists had forecast a fall of 125,000. Full employment fell by 89,100, following a 220,500 slide in April. In May, the unemployment rate increased from 6.2% to 7.1%, following on from a rise from 5.2% to 6.2% in April. Economists had forecast an unemployment rate of 7.0%.

The Aussie Dollar moved from $0.68763 to $0.68401 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.60% to $0.6843.

For the Pound

It’s a big day ahead on the economic calendar. While there are no material stats due out of the UK to provide the Pound with direction, the BoE is in action.

April’s GDP numbers were particularly dire, which led to BoE Governor Bailey stating that the BoE was ready and able to act. The proof is always in the pudding…

With interest rates at 0.1%, however, what will the BoE offer?

The markets are expecting an additional £100bn in QE and for the Bank to leave interest rates at 0.1%. Let’s not forget that the Bank is due to release its review of negative rates later in the year, so there should be at least a bottom on rates for now…

That £100bn in additional QE may disappoint the markets, however, which could support the Pound. After all, when you consider steps taken by other central banks of late, this would be fairly conservative. And that’s before you consider the state of the UK economy.

Whatever happens, do keep an eye on the vote count…

Also in focus, is Brexit though we do expect the BoE to be the headline of the day.

At the time of writing, the Pound was down by 0.15% to $1.2536.

https://www.fxempire.com/news/article/covid-19-jitters-hit-early-as-focus-shifts-to-the-boe-and-the-pound-656026



According to Trading Central (3rd party RIA) the GBPUSD is long positions above 1.2510 with targets at 1.2590 & 1.2620 in extension.

* Past performance is not a guarantee of future performance

https://europefx.tradingcentral.com/Product?PK_ANALYSE=10788002

Number of Lots:Required Margin:Risk Management (50%):Potential Profit/Loss 1.2620
1 € 3,718.99 € 1,859.50 € 1,021.89
5 € 18,594.96 € 37,189.93 € 5,109.45
10 € 37,189.93 € 74,379.86 € 10,218.90
25 € 92,974.82 € 185,949.64 € 25,547.25
50 € 185,949.64 € 371,899.29 € 51,094.50

According to Trading Central (3rd party RIA) the GBPJPY is long positions above 131.60 with targets at 141.85 & 144.59 in extension.

* Past performance is not a guarantee of future performance

https://europefx.tradingcentral.com/Product?PK_ANALYSE=10784996

Number of Lots:Required Margin:Risk Management (50%):Potential Profit/Loss 141.85
1€ 3,718.99€ 1,859.50€ 6,515.50
5€ 18,594.96€ 37,189.93€ 32,577.50
10€ 37,189.93€ 74,379.86€ 65,155.00
25€ 92,974.82€ 185,949.64€ 162,887.50
50€ 185,949.64€ 371,899.29€ 325,775.00

According to Trading Central (3rd party RIA) the FTSE is short positions below 6512 with targets at 5888 & 5661 in extension.

* Past performance is not a guarantee of future performance

https://europefx.tradingcentral.com/Product?PK_ANALYSE=10787196

Number of Lots:Required Margin:Risk Management (50%):Potential Profit/Loss 5888
0.5€ 17,289.46€ 8,644.73€ 17,401.00
1€ 34,578.92€ 17,289.46€ 34,802.01
5€ 172,894.59€ 86,447.30€ 174,010.04
10€ 345,789.18€ 172,894.59€ 348,020.08
20€ 691,578.36€ 345,789.18€ 696,040.16