A busy day ahead as markets eagerly await the Bank of England policy announcement.
The announcement takes place this afternoon at midday, where it is very much expected that the Bank will leave interest rates at 5.25 percent.
Markets are pricing in about a 30 percent chance of an August rate cut, meaning there is scope for some movement in GBP today.
The key focus will be on the comments that follow today’s rate announcement and how MPC members vote.
The potential movement will come from how the members will vote and the majority that want rates to be cut.
Later this afternoon, we have the US employment figures and EU consumer confidence figures.
To finalise a very busy week, tomorrow we have the UK retail sales figures and EU PMI.
In the afternoon we have the US existing home sales numbers.