The Bank of England will publish a monetary policy statement and update on the interest rate on Thursday, at 14:00 MT time.
Important updates for the GBP
Great Britain will publish its trade balance on June 12, at 09:00 MT time.
Instruments to trade: GBP/USD, GBP/JPY, GBP/CHF
The balance of trade is the difference between imported and exported during the previous month. When the number is positive, that means that more goods were exported than imported. As a result, a higher indicator is better for domestic currency.
The last release showed a bigger level of imports than in April. The balance of trade reached -6.7 billion pounds. One of the reasons behind this fact is the lockdown in the UK.
- If the actual figures of trade balance are greater than the forecasts, the British pound will go up.
- If the actual figures of trade balance are lower than the forecasts, the British pound will go down.
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!
PMI reports from the EU, the UK, and the USA will be released during the day!
Read a short market wrap before trading today!
The United States will publish the non-farm employment change, also known as non-farm payrolls or NFP at 15:30 MT (GMT+3) time on August 6.
Our analyst discusses the latest news and shares his trade ideas on gold, EUR/USD, and S&P 500. Jump in!