BoE Governor to Give Speech Today

BoE Governor to Give Speech Today

Market participants who are trading in pound quotes are advised to remain cautious today. Andrew Bailey, the Governor of the Bank of England, is scheduled to deliver a speech on Tuesday at 10:15 GMT. According to sources from the Bank of England, since Bailey is the head of the Monetary Policy Committee of the bank, his speech is known to have the greatest influence on the value of sterling, compared to other members of the committee.

In addition, market participants will be looking for any cues regarding changes in the Bank of England's future monetary policy and exchange rate in Bailey's speech. It is said that the public engagements of the BoE's Governor usually contain such hints.

Trade Balance of Japan to be Revealed

Japan Customs will be disclosing the Trade Balance of the country on Tuesday at 23:50 GMT. The market participants who are trading in Japanese Yen currency pairs are suggested to be vigilant during the release of the indicator, even though its impact on the Yen is ambiguous and it depends on several other economic indicators.