This week marks the midpoint of February 2024, and it’s shaping up to be quite eventful in terms of economic developments. Over the coming days, we anticipate several releases that could impact assets such as $GBPUSD, $EURUSD, and the Dow Jones, Nasdaq, DAX30, and SPX500 indices. Below, we outline their potential outcomes and precise release times and dates so you can plan your trading strategies with NAGA in advance.
On Monday, our focus should be on the speech by BoE Governor Andrew Bailey. It’s likely that during his address, the Bank of England representative will touch upon the topic of the key interest rate, currently standing at 5.25%. Previously, the bank’s head stated that he is less concerned about inflation, which is gradually decreasing. Therefore, if the market receives concrete signals about a rate cut at the next meeting in March, it could affect assets such as the FTSE100 and $GBPUSD, supporting stocks and putting pressure on the pound.