Welcome to Tuesday!
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.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…