Let’s have a look at the events that will affect market moves.
GBP/USD: forecast for May 8-12
In the coming days, don’t miss British manufacturing production on Tuesday. In addition, traders await Super Thursday – the day when the Bank of England delivers not only its policy decision, but also the Inflation Report, which contains updated growth and inflation forecasts. Officials are expected to keep their benchmark interest rate steady at 25 basis points, but traders will be eager to find out whether the central bank’s view on British economic outlook has improved. If it did, the pound will get new bullish drivers. If it doesn’t, the sterling will decline.