Memorial Day was started by freed slaves who sought to honor Union soldiers who had died in the Civil War. It is a day we all pause and think about what service in the military means for freedom. It also marks the beginning of summer; and a holiday shortened trading week. There is very little on the economic calendar from the UK again this week. Lots of releases scheduled out of the US however. USD positioning and flows will certainly grip the forex market again this week. That makes the $GBPUSD a prime opportunity. It also makes the $EURGBP a bit of a battleground. Pick your poison.
- How Mervyn King Lost the Battle of Britain’s Banks (WSJ)
- BERNANKE GREEN LIGHTS DOLLAR RALLY (BK Asset Management)
- Osborne’s deficit continues to grow (NewStatesman)
- Sterling Stumbles as Disinflation Accelerates; Light Week Ahead (Yahoo! Finance)
- Mervyn King: More Common Sense (to the tick)
- BOE’s Broadbent: UK growth still below potential (FxBriefs)
- EUR/GBP – Poor UK Data Helps Spark Breakout (Globalfxclub)
- GBPNZD Daily Chart – Price has found support at the ascending TL (Facebook) [CHART]
- Memorial Day: Early history (Wikipedia)
Read last week’s Sterling Digest.