Review of EUR / USD and GBP / USD pairs on 05/29/2019: Do not disturb until Monday

The intermission of Brexit's theatrical production continues and the macroeconomic calendar is full of all sorts of things that are of little interest to anyone. Thus, investors simply do not have any ideas. Indeed, consumer lending in Europe accelerated from 3.2% to 3.4% and according to BBA, the number of approved mortgage loans in the UK increased from 40,564 to 42,989. In turn, the housing price growth in the United States slowed from 3.0% to 2.7% based on the report from S&P Case-Shiller. However, all these data are not so important for the market and have not had any impact. Thus, the dollar could symbolically strengthen the number and this is more likely due to inertia since the situation remained unchanged. Moreover, an unregulated Brexit with an unpredictable outcome is on the agenda.


Today is a pre-holiday day in Europe, as tomorrow will be the Day of Ascension. Given that they will rest on Thursday, it is likely that no one will work especially on Friday. After all, what's the point of working just one day? Hence, European traders will already be preparing to take care of a long weekend and in a completely empty macroeconomic calendar, they can try to close the week so as to eliminate at least a little the imbalances that have taken the form of dollar overbought. Although the size of this overbought is so small that it does not affect the quotes as much. However, one should not forget that investors will keep tomorrow's data on US GDP in mind, especially since the second estimate of economic growth rates may turn out to be somewhat worse than the first.


Thus, the single European currency will remain close to the achieved levels, periodically demonstrating attempts to rise to 1.1200.


The situation with the pound is similar, although, it is unlikely that he will be able to reach the level of 1.2700.


The material has been provided by InstaForex Company -