Market updates on August 19
There were no major moves during the Asian trading session, however we have some events today, which may affect the sentiment in the market.
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.
Similar
Market updates on August 15
The risk sentiment remains under pressure after the comments by China about the countermeasures against the US tariffs. Thus, the AUD/USD and the USD/JPY pairs will be under our attention.
Attention: risk sentiment is off
During the European trading session, both the US and the UK yield curves inverted.
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