Will the euro stand firm?
The European unemployment rate is announced on Wednesday at 12:00 MT time.
All attention to pound
The Bank of England will deliver monetary policy and rate reports on Thursday at 09:00 MT time.
Instruments to trade: EUR/GBP, GBP/USD, GBP/CAD, GBP/CHF
The Bank of England set the rate at a record low of 0.1% and the size of its bond-buying program at 745 billion pounds. UK officials claimed that the UK economic data were slightly better than expected in August. However, the outlook for the economy remains highly uncertain due to the rising coronavirus cases and Brexit developments. That’s why the BoE can still impose negative interest rates and expand its quantitative easing, which will push the pound down. Besides, the central bank claimed it won’t tighten monetary policy until the economy is stable, coronavirus is taken under control and inflation approaches the targeted 2%.
- If the bank gives optimistic guidelines, the GBP rises;
- If the bank has a pessimistic outlook, the GBP drops.
Similar
Will the RBA support the Aussie?
The Reserve Bank of Australia announces the cash rate on Tuesday at 05:30 MT time.
Cautious optimism on Friday
All the interesting market movements are here!
Latest news
WTI oil: rise and shine?
The oil price looks optimistic. What are the reasons?
The NFP Friday is coming!
The Non-Farm payrolls are announced on Friday at 15:30 MT time.
Strong EUR vs weak USD
S&P 500 takes a pause near the all-time high, while the US dollar remains at the lowest levels since 2018.
Deposit with your local payment systems
