| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 03:00 | New Zealand | Expected Annual Inflation 2y from now | Quarter III | 2.33% | 1.9% | 2.03% |
GBP dropped against most of its major rivals in the European session on Thursday as investor risk appetite remained subdued.
Global market sentiment took a hit after Friday’s release of the cooler-than-expected U.S. employment report for July, which raised concerns that the world’s biggest economy faced a hard landing and triggered a selloff in riskier assets, including the pound.
Last week’s decision by the Bank of England to cut its benchmark rate by 25 basis points also added to pressure on GBP.
Meanwhile, heightened expectations that the Federal Reserve would reduce its interest rates more this year than the BoE - by 100 basis points compared to nearly 50 basis points - were not enough to support the British currency.