UK Recovery From Recession Loses Pace With PMIs Below Forecast

The UK economy’s recovery lost some momentum in May as activity and price pressures in the services sector started to fade.

BNN Bloomberg05:07 ET

Pound Sterling Exhibits Firm-footing Ahead as Traders Pare BoE Rate Cut Bets

The Pound Sterling (GBP) clings to gains above the crucial support of 1.2700 in Thursday's London session.

FXStreet03:23 ET

UK inflation is higher than expected, cooling the outlook for interest rate cuts in June

The UK CPI for April was 2.3%, which is expected to be 2.1%. Heated inflation in the UK cooled the Bank of England's interest rate cut in June. Dutch International Group said that although the inflation data “will not change the Bank of England's rules of the game,” the possibility of cutting interest rates in June has decreased.

FX678 Finance22:51 ET

Canada Consumer Confidence Could Get Boost From Rate Cut -- Market Talk

A Canadian consumer-confidence gauge indicates a small increase for May.

WSJ12:19 ET

Traders Hedging Bets On Bank of Canada Rate Cut In June -- Market Talk

Bank of Canada officials are likely to hold off on a rate cut until July because they may seek further evidence of economic weakness, says Karl Schamotta, chief market strategist at forex firm Corpay. Schamotta says, based on activity in the overnight-index swap market, traders believe there is a 59% likelihood of a June rate cut, which is up from 40% prior to the release this week of April CPI data but below 64% from the end of March.

WSJMay 22 08:50 ET

Myriad Measures Of Core CPI Gives Bank Of Canada Latitude To Cut -- Market Talk

Various measures of underlying, or core, inflation in Canada should give the Bank of Canada the latitude to either cut interest rates on June 5 or in July, says economist David Rosenberg in his daily note to clients.

WSJMay 22 08:28 ET