Donald Trump's reciprocal tariffs came into effect at midnight, ending a period of record-high uncertainty regarding the direction of U.S. trade policy. While Thursday brings several key macroeconomic releases, part of investors’ attention will be drawn to rising tensions between Russia and the U.S. (as well as sanctions on Kremlin's trade partners).
The most important event for the forex market will undoubtedly be the Bank of England's interest rate decision. The consensus forecasts a 25 basis point cut to 4%, despite persistent inflationary pressure in the UK.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appAcross the Atlantic, we’ll get the usual jobless claims and wholesale sales data from the U.S. Federal Reserve member Raphael Bostic is also scheduled to speak, recently known for his rather hawkish-conservative tone.
Earnings reports are expected from companies including: Warner Bros, Datadog, Peloton Interactive and Eli Lilly.
Economic calendar for today:
12:00 BST, UK – MPC Meeting Minutes
12:00 BST, UK – August Interest Rate Decision:
-
Forecast: 4.00%; Previous: 4.25%
12:00 BST, UK – BOE MPC Vote Split (hike-hold-cut):
-
Forecast: 0-1-8; Previous: 0-6-3
12:30 BST, UK – Speech by BoE Governor Andrew Bailey
13:30 BST, USA – Unit Labor Costs (QoQ) (Q2):
-
Forecast: 1.6%; Previous: 6.6%
13:30 BST, USA – Nonfarm Productivity (QoQ) (Q2):
-
Forecast: 1.9%; Previous: -1.5%
13:30 BST, USA – Jobless Claims:
-
Initial Claims: Forecast: 221K; Previous: 218K
-
4-week average: Previous: 221.00K
-
Continuing Claims: Forecast: 1.950M; Previous: 1.946M
15:00 BST, USA – Wholesale Sales for June:
-
Previous: -0.3% MoM
15:00 BST, USA – Wholesale Inventories for June:
-
Forecast: +0.2% MoM; Previous: -0.3% MoM
15:00 BST, USA – Speech by FOMC Member Raphael Bostic
15:00 BST, Canada – July Ivey PMI Report:
-
Forecast: 55.2; Previous: 53.3
18:00 BST, USA – GDP Data:
-
Atlanta Fed GDPNow Model (Q3): Forecast: 2.5%; Previous: 2.5%
18:00 BST, USA – 30-Year Treasury Bond Auction:
-
Previous: 4.889%
21:00 BST, USA – Speech by U.S. President Donald Trump
21:30 BST, USA – Federal Reserve Balance Sheet:
-
Previous: 6.643B
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
