EUR/USD, GBP/USD, DXY Price Forecast: DXY Bullish Over $105.48; BOE Rate Ahead
Market Overview
In the latest market activity, the forex market faced a relatively quiet trading environment due to the closure of banks in observance of Ascension Day. Meanwhile, the GBP saw a modest impact from the RICS House Price Balance, which reported a -5% rate, indicating a slight deterioration in the UK housing market compared to the previous -2%.
Events Ahead
For the GBP, critical events include the Bank of England’s Monetary Policy Report and the Monetary Policy Summary, both scheduled for 1:00 pm. These releases are crucial as they provide insights into the economic outlook and monetary policy direction, with the MPC Official Bank Rate Votes expected to remain unchanged at 0-0-9.