Follow the BOE monetary policy and rate statements on August 6 at 14:00 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.
The market sentiment improved amid the slowdown in virus cases. Let's have a closer look at the AUD, S&P 500, gold and the GBP.
The overall market sentiment is mixed as new virus cases continue rising throughout the world, but most economic indicators came out better than analysts expected. Let’s look at the main market movements.
The market has started the week with a mixed sentiment…
The US NFP will be published on August 7 at 15:30 MT time.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.