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 rise on the release
The United States will publish the level of quarterly advance GDP growth on April 26, at 15:30 MT time.
The GDP growth shows the annualized change in the value of all goods and services. We pay attention to its advance release as it is the earliest data, which tends to have the biggest impact. Last time the indicator increased by 2.2%. The actual figures were higher than the expectations. As a result, the greenback got positive momentum. If the situation repeats itself this time, the USD may rise again.
• If the actual level of the indicator is higher than expected, the USD will go up;
• If the actual level of the indicator is lower than expected, the USD will go down.
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We've got some positive news for the British pound and we are awaiting the release of the core retail sales for Canada at 15:30 MT.
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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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