What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Sterling pares revenues on revised UK GDP
On Thursday, the British pound pared back revenues versus the evergreen buck after data disclosing that the UK’s economic surge during the first quarter turned to be weaker than previously estimated.
The currency pair GBP/USD hit 1.2986, soaring 0.12%.
The Office for National Statistics posted that GDP was revised down to 0.2% for the three months from the first evaluation of 0.3%. It turned to be the weakest surge since the first quarter of the previous year.
The dominant British service sector ascended by nearly 0.2%, slumping from the initial forecast of 0.3% because consumer spending was affected by soaring inflation because of the weaker pound.
Versus the common currency, the British pound was nearly intact, with EUR/GBP hitting 0.8657,from approximately 0.8651 earlier.
Meanwhile, the greenback remained on the defensive, reacting to the minutes from the Fed’s latest gathering, which tempered some hawkish rate lift expectations.
What will happen? US consumer confidence will be announced at 5:00 MT (GMT+3) on Tuesday, July 27…
The OPEC meeting and the US Nonfarm Payrolls rocked the market last week. The market is torn between optimism about the global economic recovery and concerns about the new coronavirus strains.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!
What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
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!