BOE the only highlight on the agenda in the session ahead

As mentioned earlier, it is shaping up to be one of those days in markets. Major currencies are finding little conviction so far today with the overall risk mood a bit more tepid. If there is some movement in the latter, then maybe we’ll get some action in European morning trade. Otherwise, it should be a quiet one.

The only real thing to watch out for on the agenda is the BOE monetary policy decision. But even then, no fireworks is expected as they are to leave the bank rate unchanged. As for the language in the statement, it should be more or less similar as now is still not the right time to be too confident in the pivot to cut rates just yet.

If anything else, the bank rate vote might be one to watch. That said, a 8-0-1 split remains the expectation as seen in March here.

1100 GMT – BOE announces April monetary policy decision1130 GMT – BOE governor Bailey press conference

That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.

This article was written by Justin Low at www.forexlive.com.