Monday is set to be a quiet day, with no major economic data releases. However, volatility is expected to pick up significantly from Tuesday onwards.
Tuesday starts with the Reserve Bank of Australia (RBA) interest rate decision, where a 0.25% rate cut is expected. If confirmed, this should weaken the Australian Dollar (AUD). Later in the morning, the UK releases earnings and employment figures, where forecasts suggest stronger wage growth but a higher unemployment rate. While rising earnings are a positive sign, the increase in unemployment will likely overshadow the data, potentially putting pressure on Sterling.
Later in the day, BoE Governor Andrew Bailey is scheduled to speak, though it’s unlikely that he will provide any major shifts in forward guidance.
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