BOE policy decision or China CPI will to add volatility this week

Latest UK Policy and RBA meetings this week of key information and events. At the same time, China’s inflation closely followed economic data.

The key data and events for this week

Monday – some well-fed members speak

The financial calendar shines at the start of the week. The focus is on several Federal Reserve policymakers scheduled to speak after the central bank said last week that inflation has not picked up recently, although Chairman Jerome Powell said he still believes interest rates will fall this year.

New York Fed President John Williams and Richmond Fed President Thomas Barkin will speak on Monday, followed by Minneapolis Fed President Neel Kashkari a day later. Chicago Fed President Austan Goolsbee and Fed Governor Michelle Bowman will appear later this week.

Eurozone service PMI numbers are out, which could have a neutral impact on the currency. Because the data is expected to remain unchanged.

Tuesday- Reserve Bank Australia Meeting

On Tuesday, the Reserve Bank of Australia may point out. However, measures are not expected, and based on the coming economic data, even the decision makers are unlikely to change their neutral tone. The cash interest rate is expected to remain unchanged at 4.35 percent.

In addition, UK construction PMI data will be released, which would haves a neutral impact on the pound. Because the data is forecast at 50.4 with a slight change from the previous 50.2

Thursday – US Weekly jobless claim, BOE policy

Markets will focus on the Bank of England’s interest rate cut on Thursday for further signs that the bank plans to cut interest rates in the coming months. The official BOE bank interest rate is 5.25%.

Although BOE officials publicly talked about the possibility of a rate cut earlier this year, the latest economic data painted a mixed picture of price pressures in the British economy, prompting the market to change expectations about the first rate cut. from September to June.

The BOE will also publish updated quarterly forecasts, and analysts at ING said the reduction in medium-term inflation forecasts could be seen as an indirect signal that policymakers are comfortable with market rates this year.

US jobless ads are focused on the same day. The data should come in at 211,000 higher than the previous 208,000 This could weigh on the dollar.

Friday – UK GDP

Britain’s growth indicator provides new insight into the outlook for the economy. The data is expected to remain unchanged at 0.1% compared to the previous one. This may have a neutral effect on the pound.

Friday’s US consumer confidence data provides fresh insight into inflation expectations and the economic outlook. The data is expected to moderate at 76.3 from 77.2 previously, which could be negatively affected.

Another important piece of information may be information about changes in Canda’s employment. The data was forecast at 20.9,000, down 2.2,000, while the unemployment rate was expected to be 6.2 percent from 6.1 percent previously. Both numbers could have a negative impact on the dollar.

Saturday – China Inflation

China’s inflation figure will be released this weekend. The consumer price index is expected to remain unchanged at 0.1 percent from 0.1 percent previously. PPI y/y is expected to cool to -2.3% from -2.8% previously.