The US weekly labor data is out!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.
Can the GBP rise on the BOE policy?
BOE Governor Bailey speaks on Thursday at 17:00 MT time.
Instruments to trade: EUR/GBP, GBP/USD, GBP/CAD, GBP/CHF
The Bank of England has been keeping the rate steady at 0.1% after it was reduced twice in March to respond to the virus damage. The policymakers expressed their commitment to support the economy and maintain a possibly favorable financial climate in the UK. The latter has been fortified by an extensive policy of quantitative easing the Bank has been implementing until now. Nevertheless, the domestic economic layout in the UK remains considerably dire. Coupled with the likelihood of a no-deal Brexit, the coming weeks promise to be one of the toughest challenges for the GBP. We will be looking into the message provided by the Bank of England about the economic outlook and see if these manage to improve the position of the GBP.
- If the bank’s message is optimistic, the GBP will rise.
- If the bank’s message is not very optimistic, the GBP will drop.
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Main market news on September 23
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
Will the pound keep standing?
Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time.
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Chinese yuan is in focus
China’s Manufacturing PMI will be out on Wednesday at 04:00 MT time!
US Federal Judge stopped TikTok's ban
China's industrial rebound, progress in US fiscal stimulus and other important news in this article.
US stimulus package improved sentiment
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
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