What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Will the situation change for the British pound?
The reports that the UK and the EU reached a deal pushed the GBP up immediately. However, the optimism turned out to be short-lived, as Northern Ireland's DUP party did not approve the agreement. In addition, the leader of the Labour party Jeremy Corbyn said that the current deal was worse than the deal by Theresa May. The Parliament is expected to make a significant vote on a new Brexit deal on Saturday. If the deal is rejected, the chances of a no-deal Brexit or a further delay of the key Brexit deadline (October 31) will increase. It will pull the GBP lower. The GBP/USD pair has tested the highs above the 1.2970 level on the news but has fallen towards the support at 1.2745 after negative comments by the DUP members. The next support level will be placed at 1.2686. If Mr. Johnson manages to reassure the market with some positive updates, the pair will retest the 1.2876 level. After that, the next resistance levels will be placed at 1.2920-1.2943.
What will happen? US consumer confidence will be announced at 5:00 MT (GMT+3) on Tuesday, July 27…
The OPEC meeting and the US Nonfarm Payrolls rocked the market last week. The market is torn between optimism about the global economic recovery and concerns about the new coronavirus strains.
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!