Will the pound keep standing?
Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time.
Will the GBP get stronger on BOE’s policy?
BOE releases the monetary policy meeting minutes on Thursday at 14:00 MT time.
Instruments to trade: EUR/GBP, GBP/USD, GBP/JPY, GBP/CHF
The last meeting of the Bank of England left the interest rate at 0.1% and the bond-buying program at 645 billion pounds, and that was a month ago. Since then, on the one hand, the British economy managed to make certain progress towards recovery, but on the other hand, things don’t seem to get less complicated. It may be even the opposite, with the current recession recognized as the worst in decades, and Brexit pressing on the GBP with the inevitability of timelines. Details of the monetary policy meeting may reveal more information which is a necessary fuel for the GBP to get through the hardships it is in now, and that we will see on Thursday.
- If the minutes give an optimistic economic outlook, the GBP will gain value.
- Otherwise, it will fall.
Similar
Will the RBNZ support the kiwi?
The New Zealand interest rate is announced on Wednesday at 05:00 MT time.
Main market movements on September 21
The US dollar and the Japanese yen has started the week on the positive footing amid rising new virus cases.
Latest news
US stimulus package improved sentiment
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
The US weekly labor data is out!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.
Main market news on September 23
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
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