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Forex Focus on Bank of England


GBPUSD traders are awaiting the Bank of England policy meeting at 11:00GMT. The BOE is expected to keep rates unchanged. The Switzerland August trade balance data is due at 6:00GMT while the SNB announces September monetary policy decision 7:30GMT. In Eurozone, the July current account balance will be released at 8:00GMT. UK August retail sales data is due at 8:30GMT

In the American forex calendar, the Philadelphia Fed Manufacturing Index, the Philadelphia Fed Employment and the Initial Jobless Claims all will be released at 15:30, while Existing Home Sales is due at 17:00.

Earlier today during Asian trading session we had the Japan July all industry activity index which came in at +0.2% in line with expectations.

The New Zealand Q2 GDP came in at  0.5% q/q topping expectations of 0.4%.

Bank of Japan left it’s interest rate policy unchanged while Brazil’s central bank cut the benchmark rate by 50bps

Asian indices are trading mixed today, Nikkei is adding 0.38% at 22,044, the Hang Seng gives up 1.17% at 26,441. EURUSD trades 0.13% higher at 1.1043; the USDJPY is 0.46% lower at 107.94 while the AUDUSD is 0.57% lower at 0.6788.

The central bank of China set the Yuan rate (USDCNY) at 7.0732 versus yesterday fix at 7.0728.