BOE Decision Day | US-China Trade Deal to be Delayed
Published November 7, 2019
The British pound is expected to remain volatile against the counterparts, as the Bank of England’s monetary policy decision is due today. Markets are widely expecting BoE to retain a cautious stance as a highly uncertain election campaign gets underway. At the time of writing, the pound is trading at 1.2825 against the greenback.
Risk sentiment turned sour after news suggested that the meeting between the US and China to sign a long-awaited interim trade deal could be delayed until December as discussions continue over terms and venue. At the time of writing the dollar index is trading flat at 97.88.
WTI oil prices slide and are trading at $56.94 a barrel after US stockpiles rose by 7.93M in the week ending on November 1. Oil price further extended losses on reports that the OPEC is not looking for additional oil supply cuts when the group meets next month.