Sterling (GBP) Week Ahead: Brexit Summit, ECB and FOMC Minutes | Webinar
GBP Price, News and Latest Analysis
- EU Emergency Summit may see Brexit divorce pushed out to next year.
- ECB rate decision and press conference.
- Latest FOMC Minutes released.
ECB Rate Decision, EU Emergency Brexit Summit and FOMC Minutes:
A slow start to the week but market volatility will pick-up mid-week with a cluster of potentially market moving events scheduled for Wednesday. The latest ECB monetary policy decision will be released, followed by President Mario Draghi’s press conference with market participants listening for any further clues on the underlying weakness of the Euro-Zone economy. All monetary policy settings are fully expected to be left unchanged but further information about recent bank tiering discussions may be released along with the outlook for growth and inflation in the single-block.
In the US, the latest FOMC Minutes are expected to show that the Fed remained concerned over the health of the economy and that further US interest rate hikes are now highly unlikely. An accommodative Fed will likely see risk assets remain bid while the US dollar may drift lower along with US Treasury yields.
An emergency EU Summit is expected to see the UK offered an extension to the current Brexit date (April 12) after EU Council President Donald Tusk openly suggested a 9-12-month extension to the process to help the UK find a workable consensus. This may kick the can down the road, but as with all things Brexit, a lot can happen before this meeting.
GBPUSD Daily Price Chart (August 2018 – April 8, 2019)
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