Upside hopes for the GBP?
The British monthly GDP is announced on Friday at 09:00 MT time.
Will the GBP get a boost?
GBP traders get a lot to think about. The pound’s affected by Brexit deal negotiations and the policy of the Bank of England. The most recent statements of British central bank implied that it is thinking about raising the benchmark interest rate, although everything depends on how good the British economic data are.
If the UK economy shows its strength, the central bank will raise the rate and the GBP will strengthen. On the contrary, if economic indicators disappoint, the regulator will have to delay a rate hike.
Manufacturing production is one of such key economic indicators. It will be released at 11:30 MT time on July 10.
- If the data is greater than the forecast, the GBP will rise.
- If the data is weaker than the forecast, the GBP will go down.
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