Later in today’s New York session we will see the release of Canadian Retail Sales data for the month of April, as well as comments from Fed Chair Yellen who will be testifying before the House Financial Services Committee, and the weekly release of Crude Oil Inventories. Market focus however will likely remain on the UK’s EU referendum which will take place tomorrow.
Market Focus remains firmly fixed on the UK’s EU referendum, with current polls having shifted to an overall lead to the ‘Remain’ campaign, GBP has remained well supported having reached highs of 1.4780, not seen since before the referendum was announced. Although most polling companies have now released their final poll, any new announcements regarding the referendum could still lead to significant price action in GBP, especially with reduced liquidity in GBP pairs as many participants wait on the sidelines until the outcome is known.
Canadian Retail Sales and Yellen’s Testimony were covered in this weeks risk event video here.