The Bank of England (BoE) will share its Official Bank Rate and make a statement on monetary policy on August 4, 14:00 GMT+3.
GBP/USD moves down on UK data
On Thursday, the British pound decreased versus the greenback, suppressed by the publication of dismal British retail sales data. Moreover, market participants were waiting for the Bank of England’s policy verdict.
The currency pair GBP/USD reached 1.2704 during European morning trade, which the lowest outcome since Tuesday.
According to the UK Office for National Statistics, retail sales went down 1.2% in May, while financial experts and investors hoped for a 0.8% descend.
The British pound was still under pressure amid surging political uncertainty in the United Kingdom.
The Bank of England is supposed to leave its monetary policy intact, though traders relish a though of getting extra clues on future policy moves.
The US dollar remained quite vulnerable amid everlasting American political turmoil.
The major British currency was nearly intact versus the common currency, with EUR/GBP keeping to 0.8802.
The Reserve Bank of Australia (RBA) will release its interest rates and make a statement on August 2, 7:30 GMT+3.
The Federal Open Market Committee (FOMC) will update the Federal Funds Rate and make a statement about future monetary policy on July 27 at 21:00 MT.
A new week means new trading opportunities! Here are some events that can fluctuate the market actively…
The United States will publish the Inflation Rate and Core Inflation Rate, also known as US CPI and Core CPI, on August 10 at 15:30 GMT+3.
The United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on August 5, 15:30 GMT+3.