The US dollar edged higher, while gold dipped down. Let’s discuss main news and market movements in detail.
The Bank of England may support the GBP
The Monetary policy committee of the Bank of England will vote on the level of interest rate and release its monetary policy summary on March 21, at 14:00 MT time.
The bank is expected to keep its interest rate unchanged at 0.75%. The main focus of traders will be on the tone of the monetary policy summary. Last time the BOE governor Mark Carney said that the central bank would provide all the necessary support for the stability of the GBP. It helped the GBP to recover. The hawkish comments during this meeting may push the GBP up.
- If the BOE is hawkish, the GBP will rise;
- If the BOE is dovish, the GBP will fall.
The market sentiment improved after the USA reported some decreasing in coronavirus hospitalizations. Gold dropped below $2 000 and the US dollar dipped down, while stocks surged. Let’s have a closer look.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
Follow the report on August 14 at 15:30 MT time!
The market sentiment switched to risk-on. The US dollar is dipping down, while riskier assets are rising, especially the Australian dollar after the positive employment data. All eyes on US unemployment claims.
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