The BOE meeting: a ray of hope for the GBP?
The Bank of England will release its monetary policy summary and announce the interest rate on September 19, at 14:00 MT time.
5 important events this week will bring us!
- Speech by the Fed chair Jerome Powell (Tue, 20:00 MT (17:00 GMT time)) – After the dovish Federal Reserve, it would be interesting to hear the fresh comments by Jerome Powell.
- RBNZ rate statement (Wed, 5:00 MT (2:00 GMT time)) – The Reserve bank of New Zealand will keep its interest rate on hold this time, but we will pay attention to the hints on the future changes to its monetary policy.
- US final GDP growth (Thu, 15:30 MT (12:30 GMT time)) – According to the forecasts, the level of final GDP growth for the United States will advance by 3.1%. Higher figures will be supportive for the USD.
- G20 meetings (Friday-Saturday) – The event is highly important as US president Donald Trump and Chinese President Xi Jinping are expected to meet there to discuss trade issues. The positive outcome of the meeting will set the risk mood in the market.
- Canadian GDP growth (Fri, 15:30 MT (12:30 GMT) – The indicator is expected to increase by 0.2%. If the actual figures are higher, the Canadian dollar will rise.
Hot news:
- As the market patiently anticipates the meeting between the US and Chinese presidents during the G20 Summit, the risk sentiment in the market has got softer on the comments by the Chinese Commerce Ministry. According to his words, both countries should be willing to make compromises.
- After the victory of the opposition party in Istanbul mayor election, the Turkish lira has strengthened. This is a big hit to Erdogan’s ruling party.
- The price for Bitcoin has tested the levels above $11,000 during the weekend.
- US Secretary of State Mike Pompeo promised significant sanctions on Iran soon. It pushed the oil prices higher.
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The Federal Open Market Committee will publish its statement and announce an official rate on September 18, at 21:00 MT time.
Market updates on September 12
ECB meeting is on the agenda. Will the EUR get weaker?
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Market updates on September 20
We've got some positive news for the British pound and we are awaiting the release of the core retail sales for Canada at 15:30 MT.
Oil spikes on the tweet by Iran's foreign minister
The tweet by Iran's foreign minister increased the possibility of tensions in the region. It pushed the oil prices up.
Market updates on September 19
The European trading session will be highlighted by the events for the British pound. Traders will pay special attention to the BOE meeting at 14:00 MT.
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