Will the BOC strengthen the CAD even more?
The Bank of Canada will publish the rate statement together with the interest rate on October 28, at 17:00 MT time.
Is Brexit holding the rates?
The Bank of England is announcing the interest rate decision at 14:00 on November 7.Since 2017, the borrowing rate in the UK has been on a gradual but limited rise, currently being at 0.75%. On September meeting, the Bank of England held the rate at the same level in August but expressed the intention to gradually lift it if Brexit is done painlessly on time and the global economy shows no glitch in steady growth. Both failed so far, with uncertainties around the extended Brexit deadline and a slowdown in the international economic environment damaging the UK economy. As a result, most of the analysts see a rate rise by the BOE unlikely.
If the BOE is hawkish, the GBP will rise.
If the BOE is dovish, the GBP will fall.
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The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
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EUR dropped as Covid-19 engulfed Europe
The focus of traders’ attention shifted from Brexit and the US stimulus to the coronavirus . The WHO claimed that Europe become the new Covid-19 epicenter.
Is the Canadian economy recovering?
Canada will publish the monthly GDP growth on October 30 at 14:30 MT time.
The ECB is going to move the euro
The European Central Bank publishes the monetary policy statement alongside with an update on the interest rate on October 29, at 14:45 MT time.
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