How to trade CAD ahead of the GDP release?
Canada will publish its monthly GDP growth rate at 15:30 MT on January 31.
Bank of England’s Meeting
Every meeting of a central bank is very important for a currency. It’s usually after these meetings when we get big intraday swings and even changes in major Forex trends. Central banks announce interest rates. Higher rates are positive for a currency, while lower rates make it depreciate.
Many traders had expected the Bank of England to raise rates this year, and the British pound was rising versus the US dollar up until the middle of April. Then things changed. Britain’s economic indicators got worse, the expectations of higher rates evaporated and GBP/USD went down.
At the end of May, the Bank of England’s governor Mark Carney said that the central bank may pump more stimulus into Britain’s economy if this year’s Brexit negotiations result in a bad deal. This is a sign that the Bank of England is really worried. The impact on the pound is very negative.
The new meeting of the UK central bank will draw the attention of all Forex traders. Will it give another signal leading to the pound’s selloff? We will find this out at 14:00 MT time on June 21.
• If the Bank of England sounds positive, the British pound will appreciate.
• If the Bank of England sounds negative, the British pound will go down.
Similar
Will the BOE manage to keep the GBP standing?
The Bank of England’s interest rate announcement and monetary report will be out at 14:00 MT on January 30.
The sell-off across the markets
The week has started with a cautious note...
Latest news
How to trade CAD ahead of the GDP release?
Canada will publish its monthly GDP growth rate at 15:30 MT on January 31.
PFIZER: will it repeat the jump?
The famous pharma giant Pfizer is going to release its earnings report on January 28 at 17:00 MT time.
Will the BOE manage to keep the GBP standing?
The Bank of England’s interest rate announcement and monetary report will be out at 14:00 MT on January 30.
Deposit with your local payment systems
