Monex Week Ahead

Sterling is expected to remain under pressure as UK political instability overshadows upcoming CPI and labour data. Meanwhile, the US Dollar is supported by geopolitical tensions and global political risks.

Key Takeaways

• 1.UK political turmoil, specifically a potential leadership challenge within the Labour Party, is expected to overshadow major macro-economic data releases for Sterling.
• 2.The US Dollar is positioned to remain strong due to political risks in the UK and unresolved US-Iran peace negotiations.
• 3.April's manufacturing PMI surge is viewed as an anomaly driven by supply-chain precautionary purchasing rather than a durable demand recovery.

Table of Contents

• INTRODUCTION
• ECONOMIC CALENDAR
• DATA PREVIEWS
• Poland CPI preview: Confirming March was one-and-done
• UK data preview: Set to be overshadowed
• Canada CPI preview: Weak demand poses downside risks
• PMIs preview: May surveys will show April was an anomaly
• Japan CPI preview: Energy eclipses underlying cooling

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