The Bank of England will announce its policy statement on December 16, Thursday, at 14:00 GMT+2 (MetaTrader time). It will affect all the pairs with the British pound.
Will the GBP get stronger on PMIs?
UK Services and Manufacturing PMIs are announced on Friday at 11:30 MT time.
Instruments to trade: EUR/GBP, GBP/USD, GBP/JPY, GBP/CHF
The GBP is in a hard position now – as it apparently will be during the entire 2020. On the one hand, the British authorities are coming up with strong monetary stimulus and other measures to fight off the virus fallout and jump-start the UK economy. On the other hand, Boris Johnson’s stance in Brexit negotiations is becoming more and more rigid. In the meantime, the British economy is contracting in almost all spheres at a frightening pace. Although the situation has been somewhat stabilizing since April, the latest PMI results are still below the key mark of 50.0 that would signal the industry expansion. Therefore, some good news from this front would definitely help the GBP to stay afloat.
- If the PMIs reveal better-than-thought results, the GBP will rise;
- Otherwise, it will fall.
The US central bank, Federal Reserve, will announce its decision on further monetary policy on December 15 at 21:00 MT.
The US will publish the Producer Price Index (PPI) on December 14, Tuesday, at 15:30 GMT+2 (MetaTrader time).
Australia will publish its Inflation Rate on January 25, at 02:30 MT time.
Germany will release the flash Purchasing Managers' Index (PMI) for manufacturing and services industries at 10:30 GMT+2 on January 24.
Leibniz Centre for European Economic Research (ZEW) will release an economic sentiment index for Germany on January 18, 12:00 GMT+2