Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!
Trading GBP on the news
The British yearly CPI will be released at 11:30 MT on January 15
Since July 2019, the UK inflation has been consistently falling from the high of 2.1% to the low of 1.5% in October and November. This tendency puts additional pressure on the GBP which already suffers from the domestic economic weakness and the upcoming divorce with the European Union. In addition, the fears of the no-deal Brexit are getting stronger as the possibility that the UK and the EU will manage to negotiate all important things on time slowly turns into an impossibility. In this context, another indication of the slowdown in the British economy may drive the pound further down.
- If the CPI outperforms the forecasts, the GBP will be supported;
- If the CPI comes lower than the forecasts, the GBP will decline.
PMI reports from the EU, the UK, and the USA will be released during the day!
Australian monthly retail sales will be announced at 04:30 MT time (GMT+3) on Wednesday, July 21. T
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The Bank of England will publish a monetary policy statement and update on the interest rate on Thursday, at 14:00 MT time.
The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).