Prior chart:
A sparse UK agenda in terms of economic releases following the deluge last week saw conflicting news in the form of weakness in CBI distributive trades, but strength in the Lloyds business barometer.
However, the big domestic event came from the BoE, and not in testimony by Governor Bailey and several MPC members to the TSC on May’s MPR.
Instead, another outgoing policy-setter stole the limelight, or at least garnered market attention as Vlieghe suggested that a first rate hike could come well into next year, but somewhat sooner if the transition out of furlough proves to be smoother than envisaged in the Bank’s central scenario.
The helped the Pound rebound further on GBP/AUD. Looking for more bullish momentum top come next week!
Take care Traders! :)
A sparse UK agenda in terms of economic releases following the deluge last week saw conflicting news in the form of weakness in CBI distributive trades, but strength in the Lloyds business barometer.
However, the big domestic event came from the BoE, and not in testimony by Governor Bailey and several MPC members to the TSC on May’s MPR.
Instead, another outgoing policy-setter stole the limelight, or at least garnered market attention as Vlieghe suggested that a first rate hike could come well into next year, but somewhat sooner if the transition out of furlough proves to be smoother than envisaged in the Bank’s central scenario.
The helped the Pound rebound further on GBP/AUD. Looking for more bullish momentum top come next week!
Take care Traders! :)
