Events to pay attention to today:
16:00 EET. EUR – ECB President Christine Lagarde Speaks
17:00 EET. USD – Federal Reserve Chairman Jerome Powell Speaks
GBPUSD:
The GBP/USD exchange rate fell for the third consecutive day on Monday, commencing the new trading week below the 1.2400 mark and experiencing a decline of approximately one third of one per cent.On Monday, US President Donald Trump reiterated his stance on initiating a trade war between the US and other nations by imposing a 25 per cent tariff on all steel and aluminium imports.Read also: Meanwhile, Bank of England (BoE) Governor Andrew Bailey is scheduled to deliver a policy speech on Tuesday, which traders will be monitoring closely for any indications on the BoE’s future monetary policy decisions, following the recent rate reduction by the British central bank.On Tuesday, Federal Reserve (Fed) Chairman Jerome Powell is set to deliver an address to the US Senate Banking Committee.
Key data this week will be US consumer price index (CPI) inflation, scheduled for Wednesday, as well as UK gross domestic product (GDP) and US producer price index (PPI), both due for release on Thursday.
Trading recommendation: BUY 1.2370, SL 1.2310, TP 1.2450
Origin: FreshForex
