What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
GBP/USD hits 2-week minimums once again on dismal UK data
On Friday, the British pound sagged versus the greenback following the publication of dismal UK economic growth data. Meanwhile, hopes for an upcoming American tax overhaul kept lending support to the US currency.
The currency pair GBP/USD slumped 0.43% being worth 1.3383, re-approaching Thursday's two-week minimums of 1.3344.
As the UK Office for National Statistics informed on Friday, the British GDP expanded 1.5% during the second quarter, year-over-year, descending from the prior estimate of 1.7%.
On a quarterly basis, the British economy went up 0.3% by June, which is in line with financial experts' expectations.
According to a separate report, the country’s current account deficit extended to about £23.2 billion in the second quarter versus £22.3 billion of the first quarter this year, whose figure was updated from a previously estimated deficit of approximately £16.9 billion.
What will happen? US consumer confidence will be announced at 5:00 MT (GMT+3) on Tuesday, July 27…
The OPEC meeting and the US Nonfarm Payrolls rocked the market last week. The market is torn between optimism about the global economic recovery and concerns about the new coronavirus strains.
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!