UK Monthly Gross Domestic Product for July is on the agenda today – ForexLive | Jewelry Dukan

Following last week’s central bank bonanza, this week’s key risk events will come from the US. The main thing to watch for will be Tuesday’s CPI inflation data, but we’ll also get US retail sales and University of Michigan inflation expectations on Thursday and Friday respectively.

Also remember that the Bank of England

Bank of England

The Bank of England (BoE) acts as the UK’s central bank and is one of the key drivers of monetary policy in Europe. One of the oldest central banks in the world and founded in 1694, the BoE is owned by the UK government. Its core mandate is to maintain and target interest rates while other tools are used to either boost or contract the economy. In addition, the BoE is responsible for the production of UK banknotes as well as overseeing the payment systems of the major banks. Not only does the bank help create monetary and financial stability within the UK, but it also has tremendous influence over the country’s currency, the pound sterling. How is the Bank of England (BoE) affecting forex traders? The BoE is one of the most watched central banks by forex traders, along with the US Federal Reserve and the European Central Bank (ECB). FX traders are regularly tuned into any central bank updates as they can affect the pound and many other currency pairs. For example, the euro is highly correlated with the pound. In addition, the bank also has a variety of monetary policy tools that can affect the pound. One of the most common of these has historically included quantitative easing (QE), which can increase or decrease the value of the pound. Beyond FX, the BoE is helping to address domestic inflation by tinkering with interest rates to stimulate the economy. Many investors are familiar with the BoE interest rate because this benchmark is used by a variety of economic barometers.

The Bank of England (BoE) acts as the UK’s central bank and is one of the key drivers of monetary policy in Europe. One of the oldest central banks in the world and founded in 1694, the BoE is owned by the UK government. Its core mandate is to maintain and target interest rates while other tools are used to either boost or contract the economy. In addition, the BoE is responsible for the production of UK banknotes as well as overseeing the payment systems of the major banks. Not only does the bank help create monetary and financial stability within the UK, but it also has tremendous influence over the country’s currency, the pound sterling. How is the Bank of England (BoE) affecting forex traders? The BoE is one of the most watched central banks by forex traders, along with the US Federal Reserve and the European Central Bank (ECB). FX traders are regularly tuned into any central bank updates as they can affect the pound and many other currency pairs. For example, the euro is highly correlated with the pound. In addition, the bank also has a variety of monetary policy tools that can affect the pound. One of the most common of these has historically included quantitative easing (QE), which can increase or decrease the value of the pound. Beyond FX, the BoE is helping to address domestic inflation by tinkering with interest rates to stimulate the economy. Many investors are familiar with the BoE interest rate because this benchmark is used by a variety of economic barometers.
Read this term The political meeting has been postponed to next week due to the period of mourning over the death of Queen Elizabeth II.

The dollar is more mixed in trading so far today with a few opening gaps to watch for. The euro and pound are slightly higher against the greenback, while the yen is on the weaker side to start the day. US futures are less enthusiastic as S&P 500 futures are down just 2 points, little changed for now.

Looking ahead, there won’t be much on the calendar to shake things up in Europe, with the UK’s monthly GDP data for July being the highlight.

0600 GMT – UK July monthly GDP data
0800 GMT – SNB total sight deposits on 9 Sep

That’s all for the upcoming session. I wish you all the best in the coming days and good luck in trading! stay safe out there

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