The British monthly GDP is announced on Friday at 09:00 MT time.
The Bank of England brings a chance to the GBP traders
The Bank of England will present its monetary policy summary on December 20, at 14:00 MT time.
We do not anticipate the rate hike, as the bank lowered growth forecasts for both 2018 (1.3% from 1.4%) and 2019 (1.7% from 1.8%) years. However, the Bank of England may provide some hawkish comments to support the British pound.
• If the BOE provides hawkish comments, the GBP will rise;
• If the BOE provides dovish comments, the GBP will fall.
The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
The USD continues dipping, while the GBP is rising on hopes for the Brexit deal done today.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.