🇬🇧 Trump Expected to Announce UK Trade Deal on May 8
✅ [Market Overview]
The British pound (GBP) is gaining across the board today.
According to The New York Times, President Trump is expected to announce a trade agreement with the UK on May 8, sparking a risk-on sentiment in the markets.
While GBP/USD temporarily stalled, GBP/JPY and EUR/GBP remain near their highs.
🏦 [Key Event: Bank of England (BOE)]
🕗 BOE Rate Decision & Economic Outlook
Consensus Forecast: 0.25% rate cut
Focus Points:
- Voting split (Any votes for a 0.50% cut or to hold rates steady)
- Comments from Governor Bailey: Will he push back on expectations for further cuts this year?
📊 [Key Economic Indicators – Today]
- 🇬🇧 BOE Policy Rate Decision (20:00 JST)
- 🇲🇾🇸🇪🇳🇴 Malaysia, Sweden, Norway Rate Decisions (No changes expected)
- 🇺🇸 U.S. Initial Jobless Claims (Apr 27 – May 3)
- 🇺🇸 U.S. Nonfarm Productivity (Q1, Preliminary)
- 🇺🇸 U.S. Unit Labor Costs (QoQ forecast: +5.1%, previous: +2.2%)
- 🇺🇸 U.S. Wholesale Inventories (Final – March)
- 🇬🇧 UK DMP Inflation Survey
- 🇺🇸 NY Fed Inflation Expectations (April)
🗣 [Speeches & Events]
- 🇨🇦 Bank of Canada Financial Stability Report & Press Conference
- Participants: Governor Tiff Macklem and Deputy Governor Carolyn Rogers
- 🇺🇸 U.S. 30-Year Treasury Auction ($25 billion)
📌 [Strategy Summary]
- GBP: In focus on UK trade deal news and BOE event risk
- AUD, Stock Indices, Bitcoin: Benefit from ongoing risk-on sentiment and fund inflows
- USD: Bearish bias remains, but watch for post-event reversal risks
