The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
British Interest Rate Update
What will happen?
The Bank of England will reveal MPC official bank rate votes and official bank rate and make a monetary policy summary on March 17, at 14:00 MT time. These releases have a direct impact on GBP.
How will GBP react?
Due to the Russian-Ukrainian conflict, which affects everything now, it’s difficult to predict what monetary policy BOE will choose. Other countries, for example, Australia, don’t rush to raise interest rates because of all the suspense over geopolitical news. We assume that the Bank of England might not increase the official bank rate, even though the British are probably waiting for harsh actions.
On February 3, 2022, the last release caused a massive leap of the pound. GBPUSD surged to 1.36300.
How to trade on the BOE official rate release?
The higher the actual rate relative to the “Forecast”, the better for the currency.
Check the Economic Calendar
Instruments to trade: GBPUSD, EURGBP, GBPCAD, GBPJPY.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.