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The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
The British pound is awaiting the BOE meeting
The monetary policy summary by the Bank of England will be out on August 1, at 14:00 MT time.
We do not anticipate any changes to the interest rate this time, but the Bank of England may throw some hints on the further steps regarding its monetary policy. Despite the risks that the new Prime Minister Boris Johnson will leave the EU without a deal, the bank seems to stick to its plan to raise interest rates gradually for now. Will the policymakers change their tone to more dovish amid the trend of global easing?
• If the BOE is hawkish, the GBP will rise;
• If the BOE is dovish, the GBP will fall.
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Uncertainty underpinned USD
The uncertainty over US fiscal stimulus and Brexit, and also rising new virus cases deteriorated the market mood. That’s why we can expect the further rally of the US dollar and the fall of riskier assets today.
US dollar turned up after closing in red yesterday
The market sentiment is mixed, but there are still interesting movements on the market.
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Final debate and stimulus talks are in focus
Three main drivers of the market: the stimulus package, the US presidential election and the coronavirus. Let's look how market reacts.
GOOGLE: in the crosshairs
The US Department of Justice thinks 87% a market share is too much for Google alone. The market thinks it's ok.
All attention to Euro
EU Flash Manufacturing & Services PMI will come out on Friday at 11:00 MT time!
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