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The FxPro Analyst Team

BOE Governor to testify before Treasury Committee this morning

At 08:15 GMT, UK MPC Member Vlieghe is due to testify at his parliamentary reappointment hearing before the Treasury Committee, in London. GBP volatility can increase during this event.

At 08:30 GMT, UK Public Sector Net Borrowing (Apr) is expected to be £7.000B against a previous £-0.262B. This shows a surplus in the figures for April. The surpluses have been decreasing and trend down since peaking in 2010. GBP crosses may react to this data release.

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At 09:00 GMT, UK Inflation Report Hearings will take place with BOE Governor and several MPC Members testifying before Parliament’s Treasury Committee. This event will provide an insight into the Economic Outlook and Inflation. GBP pairs can move in reaction to comments made during this event.

At 12:30 GMT, Canadian Whole Sales (MoM) (Mar) will be released with an expected reading of 0.6% from -0.8% previously. This data will give an insight into consumer spending and any deviation from the expected number could result in CAD volatility increasing.

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At 20:30 GMT, API Weekly Crude Oil Stock data will be released. Last week this data showed a build of 4.854M. With Oil prices back to 2014 levels any indication of price movement will be closely watched. Traders will take note of this data ahead of EIA Survey data on Wednesday. WTI Oil price volatility can increase during this event.