The market sentiment improved amid the slowdown in virus cases. Let's have a closer look at the AUD, S&P 500, gold and the GBP.
The BOE meeting
|Every month the Bank of England announces the outcome of its meeting. In February, it will do so at 14:00 MT time on February 8. As no changes in monetary policy are expected, the key will be the minutes containing votes of the Monetary Policy Committee’s members.|
|The system X-X-X shows how many members voted for a rate hike, how many – to cut the rate, and how many – to keep the rate hold. Comparing these three numbers with those of the previous minutes, we can make predictions about the future actions of the regulator. The last vote was in December and all members voted not to change the rate. Back then the pound’s reaction was muted. This time the central bank will also release its quarterly Inflation Report, so GBP can make big moves versus other currencies.|
The overall market sentiment is mixed as new virus cases continue rising throughout the world, but most economic indicators came out better than analysts expected. Let’s look at the main market movements.
The market is really bullish today. Let’s have a closer look.
The US NFP will be published on August 7 at 15:30 MT time.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…