Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow
Bank of England Governor Carney in the spotlight
Governor Mark Carney is slated to deliver opening remarks at the Bank of England's conference celebrating 20 years of independence in London at 0815GMT (4:15AM ET) Thursday.
The speech comes amid rising expectations the Bank of England will hike rates for the first in a decade in November. Carney noted recently following a Bank of England policy meeting that the possibility of a rate hike has “definitely increased”.
The pound has pared recent gains against the greenback falling to 0.45% to $1.3398.
Top tier US economic data on tap
The final reading of second-quarter US economic growth due Thursday, measured by gross domestic product (GDP), is expected to confirm the U.S. economy grew 3% in the previous quarter.
Fresh on the heels of the GDP data, the Labor department releases its weekly count of the number of individuals who filed for unemployment insurance for the week ended Sept. 22. Economist forecast initial jobless claims to rise by 11,000 to 270,000.
Ahead of duo of reports, the dollar rose against its rivals as investor hopes for tax reform strengthened after the U.S. Congress and the White House unveiled plans to change America’s tax code in a proposal that slashes taxes on businesses the wealthy.
The yen in focus
Bank of Japan Governor Haruhiko Kuroda will speak at a conference in Tokyo on Thursday. Kuroda’s speech comes just days after the Japanese Prime Minister Shinzo Abe called an election a year early, seeking a fresh mandate to overcome “a national crisis” amid rising threats from North Korea.
The yen, widely viewed as safe haven currency, has lost ground against its US counterpart over recent trading sessions as investor focus has shifted from geopolitical tensions on the Korean Peninsula to the increasing possibility of a Federal Reserve rate hike later this year.
USD/JPY rose 0.50% to Y112.81.