The British monthly GDP is announced on Friday at 09:00 MT time.
Another opportunity to trade the GBP
Great Britain will release the level of retail sales at 11:30 MT time on November 15.
Last month the actual level of retail sales came out much lower than the forecast. The GBP/USD pair plunged. The GBP needs strong support in times of uncertainties around the Brexit deal. If the situation with October figures is different, the GBP will be able to strengthen.
• If the actual data is higher than the forecast, the GBP will rise.
• If the actual data is lower than the forecast, the GBP will fall.
The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
The USD continues dipping, while the GBP is rising on hopes for the Brexit deal done today.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.