Sterling Awaits BoE Super Thursday
Yet again a sparse data calendar yesterday contributed to a relatively quiet day on the exchanges. Eurozone producer prices and US factory orders for June were the only real releases of note, both being in-line with expectations. The minimal market moves yesterday has EUR/USD starting this morning at the higher end of $1.18-1.19. While EUR/GBP remains confined to its sticky 85-86p range.
Looking ahead to today, Eurozone retail sales are expected to rise by 1.7% thanks to further easing of restrictions. Manufacturing data is also due in the US.
The general feeling for the major pairs is another quiet day owing to the lack of key data, barring any major surprises the main FX pairs will likely remain range bound.