British Pound Declines After BoE Governor Statement

Market Reviews

The British pound fell sharply after Bank of England Governor Mark Carney said that the central bank is not considering raising rates in the near future. The US dollar and the euro are trading mixed. The Canadian dollar fell against the US dollar after oil prices fell to new lows.

The US current account deficit widened to USD -116.8b in Q1. Canada wholesale sales increased by 1.0% mom in April. Eurozone current account surplus narrowed to EUR 22.2b in April.

The Swiss State Secretariat for Economic Affairs has reduced the country's GDP forecast for 2017 to 1.4%. The forecast for economic growth for 2018 remained unchanged at 1.9%.