In the European session, the only highlight was the UK Retail Sales report which surprised to the upside across the board. In the American session, we have the Canadian Retail Sales and PPI data. Downside surprises will likely reinforce the markets expectations for a 50 bps cut from the BoC at the upcoming meeting with the probability at the moment standing around 62%.
Central bank speakers:
08:00 GMT – BoE’s Mann (hawk – voter)08:30 GMT – BoE’s Bailey (neutral – voter)12:15 GMT/08:15 ET – BoC’s Macklem (neutral – voter)15:00 GMT/11:00 ET – ECB’s Lagarde (neutral – voter)18:00 GMT/14:00 ET – Fed’s Harker (neutral – non voter)
This article was written by Giuseppe Dellamotta at www.forexlive.com.
