Trump Expected to Announce UK Trade Deal on May 8

🇬🇧 Trump Expected to Announce UK Trade Deal on May 8
✅ [Market Overview]
The British pound (GBP) is gaining across the board today.
According to The New York Times, President Trump is expected to announce a trade agreement with the UK on May 8, sparking a risk-on sentiment in the markets.
While GBP/USD temporarily stalled, GBP/JPY and EUR/GBP remain near their highs.

🏦 [Key Event: Bank of England (BOE)]
🕗 BOE Rate Decision & Economic Outlook

Consensus Forecast: 0.25% rate cut
Focus Points:

• Voting split (Any votes for a 0.50% cut or to hold rates steady)
• Comments from Governor Bailey: Will he push back on expectations for further cuts this year?

📊 [Key Economic Indicators – Today]

• 🇬🇧 BOE Policy Rate Decision (20:00 JST)
• 🇲🇾🇸🇪🇳🇴 Malaysia, Sweden, Norway Rate Decisions (No changes expected)
• 🇺🇸 U.S. Initial Jobless Claims (Apr 27 – May 3)
• 🇺🇸 U.S. Nonfarm Productivity (Q1, Preliminary)
• 🇺🇸 U.S. Unit Labor Costs (QoQ forecast: +5.1%, previous: +2.2%)
• 🇺🇸 U.S. Wholesale Inventories (Final – March)
• 🇬🇧 UK DMP Inflation Survey
• 🇺🇸 NY Fed Inflation Expectations (April)

🗣 [Speeches & Events]

• 🇨🇦 Bank of Canada Financial Stability Report & Press Conference
  • Participants: Governor Tiff Macklem and Deputy Governor Carolyn Rogers
• 🇺🇸 U.S. 30-Year Treasury Auction ($25 billion)

📌 [Strategy Summary]

• GBP: In focus on UK trade deal news and BOE event risk
• AUD, Stock Indices, Bitcoin: Benefit from ongoing risk-on sentiment and fund inflows
• USD: Bearish bias remains, but watch for post-event reversal risks