Attention on the UK's policy rate and statement release

Attention on the UK's policy rate and statement release

24.06.2021

Yesterday, the Nasdaq extended its gains for a third consecutive day on the U.S. market, hitting a new record high and closing at 14,271 points, up 0.13% from the previous day. The market saw a flat trading session, with stocks, interest rates, and commodities all trading sideways. The VIX (fear index) settled around 16.3, while WTI crude oil traded sideways around $73.1. BTC/USD is trading in the $32,000 range.

In the foreign exchange market, cross-yen pairs have been weak during today’s Asian session, with GBP/JPY falling from 155.15 to 154.67. GBP/JPY has not yet fully recovered from last week’s 350-pip decline, and the market direction is likely to be determined by whether today’s interest rate decision and statement include any comments on tapering.

Today’s economic indicators include Turkey’s capacity utilization rate at 4:00 PM, Germany’s IFO Business Climate Index at 5:00 PM, South Africa’s Producer Price Index at 6:30 PM, the Bank of England’s interest rate decision at 8:00 PM, U.S. initial jobless claims and wholesale inventories at 9:30 PM, and the U.S. first-quarter GDP (final reading),U.S. Core PCE Deflator, U.S. Durable Goods Orders (Preliminary), 10:00 PM: Remarks by U.S. Richmond Fed President Barkin, 10:30 PM: Remarks by U.S. Atlanta Fed President Bostic, 12:00 AM: Remarks by U.S. NY Fed President Williams, and 2:00 AM: U.S. 7-Year Treasury Auction.We will be closely monitoring whether the pound maintains its strength following today’s UK interest rate announcement.

Past Market Reports

1. 20.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

2. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

3. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

4. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

5. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

6. 13.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

7. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

8. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

9. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

10. 07.04.2026

    Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran