BOE the highlight of the agenda in the session ahead

<p>Markets are in <a href="https://www.forexlive.com/news/a-calmer-mood-in-markets-ahead-of-european-trading-today-20230803/" target="_blank" rel="follow">a calmer mood</a> so far ahead of European trading but we should see the narrow ranges among major currencies stretch out later on. How that will be will also depend on the risk mood and if equities can stem the bleeding since the turn of the month. But in any case, the pound will be a focus point with the BOE coming up later.</p><p>As for broader market sentiment, we might already be caught in a bit of a lull awaiting the US jobs report tomorrow. There will be some data points to move things along in the session ahead but none of which should be too impactful outside of the BOE policy decision.</p><p>The UK central bank is expected to raise the bank rate by 25 bps but it may well be a fine call between that and a 50 bps move. I shared some thoughts on that <a href="https://www.forexlive.com/news/what-is-priced-in-ahead-of-the-boe-policy-decision-tomorrow-20230802/" target="_blank" rel="follow">here</a>, and what markets are seeing in the bigger picture and how the pound might react.</p><p>0600 GMT – Germany June trade balance0630 GMT – Switzerland July CPI figures0715 GMT – Spain July services PMI0745 GMT – Italy July services, composite PMI0750 GMT – France July final services, composite PMI0755 GMT – Germany July final services, composite PMI0800 GMT – Eurozone July final services, composite PMI0830 GMT – UK July final services, composite PMI0900 GMT – Eurozone June PPI figures1100 GMT – BOE announces August monetary policy decision1130 GMT – BOE governor Bailey press conference1130 GMT – US July Challenger layoffs, job cuts</p><p>That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.</p>

This article was written by Justin Low at www.forexlive.com.