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Our expert team provide detailed analysis and key insights on the latest movements and events that affect market prices.

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Dollar weakness set to continue?

The US released disappointing figures for non-farm payrolls today. The country added the smallest number of jobs in seven months in April. LCG’s Head Analyst Brenda Kelly says the chance of a June interest rate hike is now totally off the table. The knee jerk reaction in financial markets has been fairly volatile and the potential for additional dollar weakness in the near term cannot be ruled out, at least until we see what’s in store in respect of US Retail Sales and JOLTS.

Chinese industrial production and retail sales are due out on Saturday, which will paint a picture for inflation there.

The real macro data next week pertains to the UK and Eurozone. The Eurogroup meetings kick off on Monday where Greece will be the main agenda item. It’s unlikely that we’ll see much in the way of volatility in the euro crosses – more likely to manifest itself in Greece Government bond yields.

In the UK, the Bank of England will hold its interest rate decision and release its inflation report on Thursday. Brenda says it’s unlikely we will see any action ahead of the EU UK referendum on June 23rd.

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