Keep an eye on the UK monetary policy statement on September 17 at 14:00 MT time!
Instruments to trade: EUR/GBP, GBP/USD, GBP/JPY, GBP/CHF
The last time the Bank of England maintained the bank rate at a record low of 0.1% and the number of its asset purchases at 745 billion pounds. Officials warned that the British economy will take more time to rebound after the coronavirus damage than it was expected before. The central bank also mentioned a probability of negative interest rates. As for the British pound itself, it has been performing really great since late July amid the risk-on sentiment and hopes for a soon Brexit agreement. However, those expectations erased as EU-UK negotiators had failed to make any progress so far. The further prolongation of the Brexit deal will weigh more on the pound. That’s why this meeting is widely watched by all investors as it will unveil further BOE’s actions to cope with all the problems.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices. Read the report to learn the freshest news of the day!
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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