Weekly Marketscope

▸With US Payrolls showing a significant disappointment at 38K last week, we expect the major theme for the upcoming week is further talk of a June rate hike by the FED now being off the table. This should leave the currency markets with further drops in the US dollar, unless FED Chairman Yellen can convince the market otherwise in her speech Monday

▸Tuesday The Royal Bank of Australia is expected to keep rates at 1.75%, but further indication of more easing in the months to come could put additional pressure on the Aussie. This is supported by a general negative table reading sentiment for AUDUSD, but expect also EURAUD and AUDJPY to be big movers with any surprise statement from the RBA

▸We expect Brexit to continue to weigh heavily in the general market coverage of financial markets for the upcoming trading week and expect further spikes in GBP to increase as more polls will likely continue to swing back and forth.

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