Let’s have a look at the economic calendar.
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.
The market sentiment improved based on an ease of the trade war tensions between China and the US.
What if there's no uptrend or downtrend at the market? How to make money in a sideways market? FBS analyst Elizabeth Belugina will show you how to trade in ranges…
Watch and find out the key levels for EUR/USD, GBP/USD and NZD/USD for today!