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5 things to watch today

Today the Bank of England announces its interest rate decision. We are still in the middle of the corporate earnings…

By financial2020myday , in Economy , at August 3, 2023

Today the Bank of England announces its interest rate decision.

We are still in the middle of the corporate earnings season.

The Brent rises.

Cryptocurrencies move lower this morning.

Here are the five factors that investors should take into account when making their decisions today:

1. Bank of England rate decision.
At 13:00 UK time, the BoE will announce its interest rate decision. It is expected to raise rates by 25 basis points, from 5.00% to 5.25%. We will also watch for statements from Governor Andrew Bailey and the meeting minutes.

2. Business performance
We are now well into the corporate earnings season. Today, Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Booking (NASDAQ:BKNG) and Airbnb (NASDAQ:ABNB), among others, present their figures.

3. Crypto, down; coffee, up
The cryptocurrency sector falls again. The Bitcoin is trading at 29,000 dollars and Ethereum at 1,800.

Watch out also for the U.S. coffee price these days. Today it is trading at 166 dollars.

4. Asia and US stock markets
The main Asian indices are mixed today. The Nikkei is down 1.4%, Hong Kong’s Hang Seng is up 0.3% and the Shanghai Composite is up 0.5%.

On Wall Street, the market ended yesterday in the red. Highlights include the closes of the S&P 500 (-1.3%), Nasdaq (-2.1%) and Dow Jones (-0.9%).

5. Macroeconomic data
Among the macroeconomic references in Europe, the {exports, imports and trade balance for Germany stand out, as well as the composite and services PMI for France, Spain, Germany, Italy, UK and the Eurozone.

In the US, we will see {new claims for unemployment benefits and reserve balances at banks.

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