Pay attention to the GBP

Pay attention to the GBP

The bank of England will publish its monetary policy summary and make the announcement of the interest rate on May 2 at 14:00 MT time. After that, the BOE governor Mark Carney will make a speech at 14:30 MT time.

The interest rate is expected to remain at 0.75%. We need to pay attention to the changes in the statement and the comments by the BOE governor. At the moment, the bank keeps its dovish outlook due to the Brexit uncertainties and weaker global economic conditions. Any hawkish outlines may support the British pound.

• If the BOE is hawkish, the GBP will rise;

• If the BOE is dovish, the GBP will fall.

Check the economic calendar

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Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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