Monday, July 10

Monday, July 10

• 11:00am EST GBP: BOE Gov Bailey Speaks

On Monday, July 10, at 11:00 am, Bank of England (BOE) Governor Andrew Bailey is due to speak at the Financial and Professional Services Dinner in London. Bailey's speeches often have a greater-than-expected hawkish effect on the currency. As head of the central bank, which controls short-term interest rates, he has a significant influence over the nation's currency value. Hence, traders carefully analyze his public engagements as they frequently contain subtle hints about future monetary policy. It's also worth noting that his speeches typically incite volatility as traders attempt to decode clues about interest rates. Bailey's subsequent public appearance will be on July 12, 2023.

• 9:30pm EST. AUD: NAB Business Confidence (Actual: -4)

CURRENCY: The impact will be felt in currency pairs involving the GBP. For example, if Bailey's comments are interpreted as hawkish, the GBP/USD pair might rise (GBP strengthens against USD), while the EUR/GBP pair might fall (GBP strengthens against EUR).