The Bank of England will release its monetary policy summary and announce the interest rate on September 19, at 14:00 MT time.
A significant release may push the Canadian dollar
The trade balance for Canada will be released on May 9, at 15:30 MT time. The indicator represents the difference in value between imported and exported goods. A positive number shows that more goods were exported than imported. Last time the actual level of trade balance came out negative, but the figures were still higher than the forecast. It made the Canadian dollar rise. Let’s see if the situation repeats itself this time.
• If the actual level of the trade balance is higher than the forecasts, the CAD will go up;
• If the actual level of the trade balance is lower than the forecasts, the CAD will go down.
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.
The tweet by Iran's foreign minister increased the possibility of tensions in the region. It pushed the oil prices up.
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.