Main Market Trends on September 23
The Fed can start tapering already this November, oil is rallying pushing the Canadian dollar up! Jump in to know more!
Can the GBP rise on the BOE policy?
BOE Governor Bailey speaks on Thursday at 17:00 MT time.
Instruments to trade: EUR/GBP, GBP/USD, GBP/CAD, GBP/CHF
The Bank of England has been keeping the rate steady at 0.1% after it was reduced twice in March to respond to the virus damage. The policymakers expressed their commitment to support the economy and maintain a possibly favorable financial climate in the UK. The latter has been fortified by an extensive policy of quantitative easing the Bank has been implementing until now. Nevertheless, the domestic economic layout in the UK remains considerably dire. Coupled with the likelihood of a no-deal Brexit, the coming weeks promise to be one of the toughest challenges for the GBP. We will be looking into the message provided by the Bank of England about the economic outlook and see if these manage to improve the position of the GBP.
- If the bank’s message is optimistic, the GBP will rise.
- If the bank’s message is not very optimistic, the GBP will drop.
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German Ifo Business Climate
Germany, the leading economy in the Euro Zone, will reveal one of the key economic indicators – German Ifo Business Climate on September 24 at 11:00 MT time.
Big Event for GBP: Bank of England’s Statement
The Bank of England will hold a meeting on Thursday at 14:00 MT time (GMT+3).
Latest news
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