The EUR made a significant rise on the news of the stimulus expansion. Will it last long?
Important indicators may push the GBP up
Great Britain will release the level of GDP growth and manufacturing production on August 9, at 11:30 MT time.
The level of GDP growth measures the economic activity of a country. Last time it advanced by 0.5%, which was in line with the forecast. Analysts expect the indicator to remain at the same level this time. As for manufacturing production, which represents the value of output produced by manufacturers, it increased by the lower-than-expected 1.4% (vs. the forecast of +2.2%). According to the forecasts, the indicator will decline by 0.1% during Friday's release.
• If the actual figures are higher than the forecasts, the GBP will strengthen;
• If the actual figures are lower than the forecasts, the GBP will weaken.
April seasonal patterns weren’t supposed to work, but somehow they did. Even a strong fundamental issue such as the global recession amid the coronavirus couldn’t overwhelm it. That’s why May seasonal patterns may work as well.
The first days of May suggest the month will be risk-off for the GBP/USD. Here is why.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.