Services PMI for September in Great Britain demonstrated a decline from 53.7 in August to 52.2, economists expected the reading to reach 53.1. In addition, the UK construction index was below the forecasts which led to the pound fall.
Today, at 15:00 (GMT +3), the BoE is to disclose the decision on its interest rate and the bond purchase program. The indicators are supposed to be left unchanged. The interest rate should be 0.5% while the program should be maintained at 375 bn pounds.
Later, at 15:45, the ECB is to set its interest rate and then at 16:30 we are waiting for Mario Draghi’s press conference. At 22:00 the minutes of the latest Fed’s meeting will be published.
Technically, in case 1.6067 is breached, it is possible to go down to 1.6035, 1.6016. After 1.6110 is tested, the ascending movement towards 1.6124, 1.6138, 1.6163, and 1.6190 is possible.