The BOE meeting: a ray of hope for the GBP?
The Bank of England will release its monetary policy summary and announce the interest rate on September 19, at 14:00 MT time.
The USD may be supported by the releases
The United States anticipates the release of headline and core durable goods orders on May 24, at 15:30 MT time. The indicator represents the change in the total value of new purchase orders for durable goods. Its core level excludes transportation orders due to their high volatility. Rising purchase orders signal that manufacturers will increase their activity. This fact demonstrates the importance of the indicator. Last time the actual level of the headline indicator came out significantly higher than the forecasts (2.7% vs. 0.7%). The core indicator also advanced by 0.4% If the situation repeats itself, the USD will get positive momentum.
• If the actual levels of indicators are higher than the forecasts, the USD will rise;
• If the actual levels of indicators are lower than the forecasts, the USD will fall.
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Market updates on September 19
The European trading session will be highlighted by the events for the British pound. Traders will pay special attention to the BOE meeting at 14:00 MT.
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