The United Kingdom will publish the Inflation Rate on November 17, at 09:00 MT (GMT+2). How will it impact the markets?
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.
Federal Reserve will make a statement on November 3, 20:00 GMT+2. There we will hear about Fed’s view on the current economic situation, tapering plans, and other hawkish or dovish tones.
The Fed can start tapering already this November, oil is rallying pushing the Canadian dollar up! Jump in to know more!
The Eurozone will publish the Indicator of GfK Consumer Confidence on November 25, at 09:00 GMT+2.
The United States will publish the Federal Open Market Committee Meeting Minutes on November 24, at 21:00 GMT+2.
The United States will publish Flash Manufacturing and Services PMIs on Tuesday at 16:45 GMT+2.