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It’s another light week in terms of U.K. economic data!

Will this mean a mixed performance for pound pairs like we saw last week? Or are there other potential catalysts to look out for?

Here’s a list of potential market-movers you need to pay attention to:

Final PMI readings (starting June 1, 9:30 am GMT)

  • Markit is set to print the final May PMI readings for the manufacturing, services, and construction sectors
  • Manufacturing PMI could be upgraded from 40.6 to 40.7
  • Services PMI eyeing a revision from 27.8 to 27.9
  • Construction PMI might climb from 8.2 in April to 30.0 in May
  • Readings below 50.0 signal industry contraction, above 50.0 reflect expansion

Brexit-related updates

  • Brexit issues are drawing market attention once more, especially since the top nations of the eurozone are looking into a region-wide Recovery Plan
  • EU leaders continue to push for post-Brexit trade deal negotiations
  • Both parties can still lobby for an extension until next month, possibly reducing the risk of a “no deal” situation

Technical snapshot

  • Stochastic paints a mixed picture for pound pairs.
  • GBP/JPY, GBP/USD, and EUR/GBP are looking bearish in the overbought region while GBP/AUD and GBP/NZD are in oversold territory.
GBP Pairs Stochastic from MarketMilk
GBP Pairs Stochastic from MarketMilk
  • The rest of the GBP pairs are in neutral territory, although GBP/CAD also seems to be hovering close to the oversold region as well.
  • Short-term trend strength analysis suggests that GBP/JPY, GBP/USD, and EUR/GBP are on very bullish grounds.
GBP Pairs Moving Averages from MarketMilk
GBP Pairs Moving Averages from MarketMilk

Missed last week’s price action? Read GBP’s price recap for May 25-29!