Positive economic data from the UK and the EU have also contributed to the Greenback’s weakness this week, with the UK reporting GDP, the Goods Trade Balance and the Average Earnings Index that all exceeded the market’s consensus.
Looking forward, Thursday will see Australia release the Employment Change and the Unemployment Rate that are respectively expected at 16.5K and 5.3%. Later that day, the BOE will release its Official Bank that is expected to remain unchanged from last month at 0.75%. The BOE also just announced that Governor Mark Carney will continue as Governor of the central bank for an additional seven months extended term, until January of 2020. Related releases include the the BOE’s Monetary Policy Summary and MPC voting results.
The ECB will also release its Main Refinancing Rate decision on Thursday that is expected to remain unchanged at 0.00%. The ECB is also widely expected to announce it will begin tapering QE purchases at the Press Conference led by ECB President Mario Draghi.
Friday’s highlight’s include U.S. Retail Sales and Core Retail Sales that are expected out at 0.5% and 0.4%, as well as a speech by the BOE’s Governor Carney.