Wednesday 1st May, 2019

US$ continued to trade slightly weaker against most of the currencies overnight, but all eyes will be on FOMC today for fresh direction. C$ benefited on positive comments from the BOC governor yesterday for Canada’s economic expectations into H2.

Stronger GBP from increased optimism over Brexit negotiations, but we remain cautious. BoE rate decision tomorrow, but we are not expecting any surprises.

Euro followed the trend of weaker US$, with the currency benefiting from this weeks positive data and general softer US$. Our bias remains for a weakening US$ in the short term, but FOMC remains key.