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  • 🇮🇹 Balance of Trade (MAR) Actual: €5.19B Previous: €4.754B https://www.dailyfx.com/economic-calendar#2021-05-18
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.45%, while traders in France 40 are at opposite extremes with 73.09%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/fhwDyn1zdX
  • Heads Up:🇮🇹 Balance of Trade (MAR) due at 08:00 GMT (15min) Previous: €4.754B https://www.dailyfx.com/economic-calendar#2021-05-18
  • 🇳🇱 GDP Growth Rate YoY Flash (Q1) Actual: -2.8% Expected: -2.1% Previous: -2.8% https://www.dailyfx.com/economic-calendar#2021-05-18
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  • It’s not a seasonally friendly time of the year for the British Pound, a potential headwind among otherwise bullish technical considerations. Get your $GBP market update from @CVecchioFX here:https://t.co/RRVpaXPGaU https://t.co/OTZygUiFzD
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.63% 🇦🇺AUD: 0.54% 🇨🇭CHF: 0.52% 🇬🇧GBP: 0.40% 🇪🇺EUR: 0.36% 🇯🇵JPY: 0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/dwd1ApUwD8
  • Heads Up:🇳🇱 GDP Growth Rate YoY Flash (Q1) due at 07:30 GMT (15min) Previous: -2.8% https://www.dailyfx.com/economic-calendar#2021-05-18
  • Heads Up:🇳🇱 GDP Growth Rate QoQ Flash (Q1) due at 07:30 GMT (15min) Previous: -0.1% https://www.dailyfx.com/economic-calendar#2021-05-18
Forex: Webinar: UK Services PMI Comes In Weaker Than Expected

Forex: Webinar: UK Services PMI Comes In Weaker Than Expected

Martin Essex, MSTA, Analyst

Talking Points

- The purchasing managers’ index for the UK service sector was weaker than expected in May.

- However, trading in the British Pound this week will be dominated by the upcoming UK elections.

- Check out the DailyFX Economic Calendar and see what live coverage of key event risk impacting FX markets is scheduled for the week on the DailyFX Webinar Calendar.

The purchasing managers’ index for the UK service sector and the composite PMI for the economy as a whole were both weaker than expected in February although the Bank of England is still likely to keep UK interest rates on hold for many months to come.

Trading in the British Pound will be dominated this week by opinion polls leading up to Thursday’s UK General Election and by the election itself, with the currency likely to strengthen if the ruling Conservatives look like winning but weaken on predictions of a Labour victory or a hung parliament with no majority for either party.

--- Written by Martin Essex, Analyst and Editor

To contact Martin, email him at martin.essex@ig.com

Follow Martin on Twitter @MartinSEssex

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