The BoE Meeting is in the Focus of Attention

At the moment, the pound is consolidating ahead of today's decision of the Central Bank of England on monetary policy. It should be recalled that at the last meeting three representatives of the Central Bank voted for tightening the monetary policy. The latest economic reports from the UK were mixed. At the moment, most experts believe that the regulator will leave the interest rate at the previous level of 0.25%. We recommend you to pay attention to the comments of officials and the Bank of England report on inflation.

Preliminary statistics on the labor market in the US from ADP was rather weak. At the same time, the US dollar showed mixed results relative to the majors. The dollar index (#DX) closed the trading session in the negative zone (-0.16%).

The Australian dollar is under pressure. In June, the surplus of Australia's trade balance amounted to A$856 million, which is significantly lower than the forecasted value of A$1,800 million. The index of business activity in the services sector of China from Caixin (July) was 51.5. Experts expected the indicator at the level of 51.9.

Market Indicators

Major US stock indices closed the trading session in the positive zone: #SPY (+0.05%), #DIA (+0.24%), #QQQ (+0.27%).

At the moment, the 10-year US government bonds yield is at the level of 2.25-2.27%.

Today we recommend to pay attention to the following events:

  • – Indices of business activity in Germany and the Eurozone at 10:55 (GMT+3:00) and 11:00 (GMT+3 00);
  • – The index of business activity in the services sector of the UK at 11:30 (GMT+3:00);
  • – The Bank of England meeting at 14:00 (GMT+3:00);
  • – The index of business activity in the non-manufacturing sector of the US from ISM at 17:00 (GMT+3:00).

by JustForex, 2017.08.03

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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