Nonfarm Payrolls is in Focus Today
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
Bank of England will check if banks are ready for Brexit
British banks require preparing for a wide range of potential outcomes. Moreover, they should also avoid sudden changes to lending because Great Britain gets ready to abandon the European Union, as Bank of England policymakers told on Monday.
Two days before Prime Minister Theresa May intended to notify the EU that the UK is ready to start two years of exit negotiations, as the major bank told. British banks are bound to provide copies of contingency plans in order to reassure regulators that they are ready for probable outcomes.
The BOE’s Financial Policy Committee is asking British financial institutions to show how they can potentially avoid their continental clients being steeply cut off after Brexit.
Lenders worry that Great Britain won’t secure unfettered continued access to the bloc's single market, and some of them are already intending to beef up their presence on the continent.
Similar
No More US Debts in Sight
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
Gold Rises as Central Banks Buy More
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Latest news
The European economy is officially in recession. What's happening?
GDP in Europe is decreasing, but EURUSD jumped owing to the US labor market statistics.
Bank of Canada Surprises Markets
The CAD is dominating the markets after the key rate increase! Read the full report to learn more about trading opportunities with the Canadian Dollar!
Oil prices are in focus today
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
