BoE’s Weale speech amongst market movers for today – Danske Bank

Research Team at Danske Bank, lists down the key market movers for the day.

Key Quotes 

“Following the failed attempt to topple the Turkish government on Friday, Turkish financial markets seem destined for a volatile trading session when bourses reopen today.

At 10:15 CET, Martin Weale, who is a member of the Bank of England's Monetary Policy Committee, will speak on the implications of Brexit for monetary policy. The speech, which will be followed by a Q&A, could attract attention after last Thursday's BoE decision to keep the Bank Rate steady at 0.50%. Although the BoE hinted strongly at upcoming stimulus in August it seems in no hurry, despite BoE Governor Mark Carney highlighting back in May the likelihood of a UK recession in the case of a Brexit. With that in mind, today's speech by Weale could provide further insights on what to expect from the BoE in August and whether unconventional tools might also be deployed.

Today's calendar is very light in terms of data releases. In the US, the NAHB housing market index for July is due to be released at 16:00 CET. Later in the week, the ECB's rate decision and subsequent press conference (Thursday), EU flash PMIs (Friday) and UK flash PMIs (Friday) will be the highlights.”