Europe FX Handover - 1st May 2019
Fawad Razaqzada May 1, 2019 8:43 AM
A summary of news and snapshot of moves ahead of the US session.
- With much of Europe out in observance of Labor Day, it has been a light day in FX during the bulk of European session thus far. Market participants are looking forward to the FOMC rate statement and press conference later.
- GBP has remained the strongest currency ahead of this week’s key fundamental events, owing in part to reduced fears over a no-deal Brexit, though the GBP/USD was approaching a key technical level around 1.3080 ahead of FOMC.
- NZD has been the weakest following the publication of disappointing jobs data from New Zealand overnight, where employment unexpectedly fell by 0.2% in the first quarter, raising the possibility for a rate cut from the RBNZ next week.
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