The Bank of England will release its monetary policy summary and announce the interest rate on September 19, at 14:00 MT time.
How will the RBA affect the aussie?
The Reserve bank of Australia (RBA) will publish its statement and announce the official rate on September 3, at 7:30 MT time.
The market is assessing the chance of a rate cut during the upcoming meeting. Analysts are sure that the central bank of Australia will ease its monetary policy soon due to the global economic instability. However, not all of them expect September's meeting to be the crucial one for the RBA. Those who don't see a rate cut in September suggest waiting for more indicators and negative news. This data will help the policymakers of the bank to determine their next step. Others think that the Reserve bank of Australia should cut the rate immediately due to the global uncertainties. Anyway, the tone of the RBA Governor Philip Lowe will be in focus, as traders will be looking for hints on the future rate decisions.
• If the RBA is hawkish, the AUD will rise;
• If the RBA is dovish, the AUD will fall.
We've got some positive news for the British pound and we are awaiting the release of the core retail sales for Canada at 15:30 MT.
The tweet by Iran's foreign minister increased the possibility of tensions in the region. It pushed the oil prices up.
The European trading session will be highlighted by the events for the British pound. Traders will pay special attention to the BOE meeting at 14:00 MT.