Daily Update - 31st July 2018
GBP Delivered with positive results on its Mortgage Approvals data week and continued the support of a Stronger Sterling ahead of the Bank of England Rate decision. While from the Euro Zone reports such as Business Climate & Germany Harmonized Index of Consumer Prices was negative and the latter remained unchanged. Finally to conclude the Day US Pending Sales was positive sending stronger Housing Market condition signals to investors. United Kingdom will release their GFK Consumer Confidence report which will be an important data for the Bank of England indicating the current consumer confidence of UK Consumer Sector. Followed by reports from Euro Zone on Gross Domestic Product a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone economic activity and health. While Consumer Price Index will give us an indication on their Current Inflationary Outlook. To conclude the Day US will release their Core Personal Consumption Expenditure report which will be an indicator of their current Expenditure ratio in the sectors of Food & Energy a key indicator of US Inflation. BoJ meeting is highlight anticipated, yet it could disappoint most. It’s clear that the discussion regarding tweaking the monetary policy is at a preliminary stage. There is little chance for BoJ to make any drastic announcement. Though, most meeting reactions in Yen and Japanese Government Bond yield should be closely watched. Yesterday’s Market
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