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BOE Gov Bailey Speaks – June 29, 15:30 MT time
Core PCE Index – June 30, 15:30 MT time
ISM Manufacturing PMI – July 1, 17:00 MT time
The previous meeting didn’t bring volatility to the pair but prepared the market for the PMI release that came the day after. Bailey pointed out that BOE was ready to raise the rates if the economy suffered. Thus, lower-than-expected PMI data crashed the pound against the USD by 1170 points.
Traders watch the index closely because of the rumors that this is Fed’s favorite inflation measure. The May release came according to the expectations. This time volatility may be the same (or higher) as the US inflation is at a 40-years high. The results will affect all USD pairs.
ISM PMI is likely to decrease. The index may enter the contraction zone and press even more on USD and stocks. Last time, the result was higher than expected. It caused volatile moves in EURUSD. Minutes after the release, USD plunged by 800 points.
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