The first full week of August will feature two rate decisions, two GDP releases, and a labor market report that should all generate volatility in FX markets.
The second week of July will largely focus on the counterparties in the US-China trade war.
GBPUSD fell back below 1.2700 after recently released economic data highlighted the ongoing, Brexit-related, weakness in the U economy.
Updates to the U.K. Gross Domestic Product (GDP) report may spark a rebound in GBP/USD as the growth rate is expected to pick up from the last three-months of 2018.
With the May Fed meeting and April US NFP report in the rearview mirror, attention turns away from the United States for most of the first full week of May.
Crude oil prices may continue to fall after hitting a three-week low if disappointing UK GDP data amplifies fears about a global slowdown in economic