BOE Governor Bailey Testimony

GBP/USD cheers the broad-based US Dollar selling amid firmer sentiment while refreshing the daily top to 1.2000 during early Tuesday morning in Europe. In doing so, the Cable pair also portrays the trader’s optimism ahead of Bank of England (BOE) Governor Andrew Bailey’s testimony before the Lords Economic Affairs Committee.

In general, fears of a lengthy UK recession are weighing on sentiment.

Last week’s flash purchasing manager index (PMI) data showed British economic activity staying near 21-month lows, though the figures were slightly better than economists had expected.

Market players pondering the Bank of England’s (BoE) next move will be listening carefully to several BoE members due to speak this week, including BoE governor Andrew Bailey on Tuesday and chief economist Huw Pill on Wednesday.

Tuesday 29th November High Impact Events

The times below are GMT+2

  • 15.30 – Canada – GDP m/m

Potential instruments to Trade: CAD Crosses. 

  • 17.00 – UK – BOE Gov. Bailey Speaks

Potential instruments to Trade: GBP Crosses. 

  • 17.00 – US – CB Consumer Confidence

Potential instruments to Trade: USD Crosses. 

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