Daily Market Report 02/06/16


The Pound lost ground against a host of its major counterparts yesterday after another Brexit poll was released. This time the poll was released by YouGov, it said that the Leave campaign and the Remain campaign were neck and neck with 41% of respondents voting for each outcome. This was in contrast to the Poll released at the end of last week which put the Remain campaign comfortably in front. This has led to a Sterling sell off as pre referendum jitters set in and the confidence of a Remain vote is eroded.


Over in the States yesterday we had ISM Prices Paid (May) which came in at 63.5, above the expected figure of 59.6. We also had ISM Manufacturing PMI (May) which came in at 51.3, also above its expected value of 50.4. Despite this we did not see a lot of USD strength yesterday, with the Euro making gains against the USD.


Key Announcements

09:30 – GBP – Construction PMI is forecast to fall to 51.9

All Day – ALL –OPEC Meetings

12:45 – EUR - ECB Rate Decision

13:30 – EUR - ECB Press Conference

13:30 – USD –Unemployment claims are forecast to increase

14:00 – GBP - BoE governor Mark Carney Speech