UK Services and Manufacturing PMIs are announced on Friday at 11:30 MT time.
Will the Bank of England make the GBP stronger?
The Bank of England will release its monetary policy summary on February 7 at 14:00 MT time.
The bank will hold its interest rate unchanged at 0.75%. We anticipate the Bank of England to provide the comments on the possible rate hikes in 2019. Last time, the BOE mentioned the Brexit uncertainty as the key problem for the UK economy and lowered the economic growth and CPI projections for the fourth quarter of 2018. As a result, the GBP fell. Let’s see if this time the central bank succeeds to support the British currency.
• If the BOE is confident, the GBP will rise;
• If the BOE is unconfident, the GBP will fall.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
BOE releases the monetary policy meeting minutes on Thursday at 14:00 MT time.
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
The Federal Open Market Committee will make its statement and announce the interest rate on July 29, at 21:00 MT time.