August is typically a quiet month across financial markets and this year has certainly been a testament to that assumption. However, the following 5 days could be pivotal in defining various directions for currencies throughout the remainder of 2021.
From the US, meeting minutes from the Fed’s last gathering will be the highlight. Jay Powell and co. sent a clear message to markets at the announcement that they require further progress in the labour market before making any decisions. Also on the agenda from the US will be the July retail sales report which has the potential to move the greenback in the case it’s a significantly weak or strong print.
From the UK, July inflation and employment numbers are due out this week. The Bank of England took a neutral stance at their announcement earlier in the month. Will the aforementioned data points potentially give them a reason to shift their stance?!
Have a good week!
Written by Viv Savani. 8:09am, August 16th 2021
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