| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:00 | Germany | Trade Balance (non s.a.), bln | June | 2.6 | | 7.7 |
| 06:30 | Switzerland | Consumer Price Index (MoM) | July | 0.5% | -0.1% | 0.0% |
| 06:30 | Switzerland | Consumer Price Index (YoY) | July | 3.4% | 3.5% | 3.4% |
| 07:50 | France | Services PMI | July | 53.9 | 52.1 | 53.2 |
| 07:55 | Germany | Services PMI | July | 52.4 | 49.2 | 49.7 |
| 08:00 | Eurozone | Services PMI | July | 53 | 50.6 | 51.2 |
| 08:30 | United Kingdom | Purchasing Manager Index Services | July | 54.3 | 53.3 | 52.6 |
| 09:00 | Eurozone | Producer Price Index (YoY) | June | 36.2% | 35.7% | 35.8% |
| 09:00 | Eurozone | Producer Price Index, MoM | June | 0.5% | 1% | 1.1% |
| 09:00 | Eurozone | Retail Sales (MoM) | June | 0.4% | 0% | -1.2% |
| 09:00 | Eurozone | Retail Sales (YoY) | June | 0.4% | -1.7% | -3.7% |
| 10:00 | OPEC | OPEC Meetings | | | | |
GBP traded mixed against other major currencies in the European session on Wednesday as investors prepared for the Bank of England’s (BoE) policy meeting on Thursday.
The pound rose against USD, JPY and CHF, fell against EUR and SEK, and changed little against CAD and AUD.
Expectations are for the British central bank to announce a 50 basis-point rate rise after its August gathering, as it attempts to combat four-decade high inflation. This would be the sixth straight rate hike by the BoE, which would lift its benchmark rate to 1.75 percent, the highest level since the global financial crisis in 2009.
Market participants also assessed the final services PMI data from the UK, which were worse than initially estimated, and confirmed that the services sector activity in Britain expanded in July at the slowest pace since February 2021, as well as reports that Foreign Secretary Liz Truss is ahead of the former Chancellor of the Exchequer Rishi Sunak in the race to lead the Conservative party.