UK Preliminary Quarterly GDP is out on Thursday at 09:00 MT time.
After election effects on the BOE
The Bank of England will conduct a meeting and release a monetary policy summary at 14:00 MT time on December 19.
The monetary policy summary is published every month, which helps to keep investors updated with the current economic situation. The summary contains the votes on the interest rate, forecasts, and other policy measures. During the previous meeting, the votes for the rate changes split unexpectedly, as two out of nine members of the bank's monetary policy committee supported a cut of the interest rate. Let's see if the result of the UK general election affects the BOE decision this time.
IF the BOE is optimistic, the GBP will rise;
If the BOE is pessimistic, the GBP will fall.
Saudi Aramco site was hit by missiles on Sunday - no damage to oil supply was taken, but investor fear drove the price into the upside. Time to trade the cooling off then!
Great news for oil bulls! OPEC and its allied producers agreed to expand output cuts for the next month.
The USD skyrocketed after Fed Powell’s speech. OPEC and allied producers agreed to extend production cuts for another month. Oil surged.