TC Economic Insight - The Week Ahead (August 4-8)

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Using Trading Central's "Economic Insight" investors can check out up-coming major economic data.

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We are looking into the trading week of August 4-8:

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We can select economic data of "High", "Medium" or "Low" importance, or any combination of such filters:

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We can select which major economies to focus on:

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Recently major central banks, including the U.S. Federal Reserve, the European Central Bank, the Bank of Japan, and the Bank of Canada, have all decided to keep interest rates unchanged.

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On Thursday (August 7), it will be the Bank of England’s (BOE) turn to decide on interest rates.

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Though the U.K. recorded an inflation rate of 3.6% year on year in June, the fastest one in 17 months, its gross domestic product contracted for two consecutive months in April (-0.3% month on month) and May (-0.1%) with persistent weakness in the labour market.

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The central bank held rates unchanged in June, and is likely to start the third quarter with a cut.

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According to Trading Central's "Economic Insight", the BOE is expected to lower its key interest rate by 25 basis points to 4.00%.

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In June, within one hour from the BOE’s interest-rate decision, GBP/USD moved in a range of 40.0 pips during the 1 hour following the event, ending 20.5 pips higher.

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Key Economic Data Forecasts:

(GMT+02:00 Hour) 

Happy Trading!

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Source: Trading Central Economic Insight

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