During today's Turkish central bank meeting, the market anticipated a rate cut between 200-300 pips.
European equities edge down
On Thursday, except the United Kingdom, European stock markets dived in the face of everlasting worries of a proliferation of trade clashes between China and America, which appear to be the largest economies around the globe.
Support for the British market is suppressing the UK pound ahead of the Bank of England gathering.
The index of the key businesses of the region Stoxx Europe 600 dived 0.1% showing 384.1.
The British FTSE 100 managed to ascend by 0.2%, France’s CAC 40 sank by 0.2%, while Germany’s DAX declined by 0.5%. As for the Spanish IBEX 35, it decreased by 0.7%, while the Italian FTSE MIB dipped by 1.1%.
On Thursday, the British Central Bank is expected to hold a regular gathering, the outcomes of which will be uncovered a bit later.
Britain’s key financial institution is going to keep its benchmark interest rate at 0.5%. That’s what the consensus forecast of Wall Street analysts states. The Bank of England has been keeping the rate at this value since November 2017, when it was lifted for the first time in a decade.
The UK currency is paired with the evergreen buck traded at the levels of November 2017. The weakening of the UK pound is favorable for stocks of exporters, accounting for a considerable part of the FTSE 100 index.
In addition to this, Unilever equities rallied by up to 1.4%, while Burberry soared by 0.6%. As for AstraZeneca, these equities edged up by 0.7%.
German car makers' equities went down after Daimler AG hinted at a probable sag in sales this year due to the planned Chinese introduction of extra tariffs on US vehicles responding to American actions.
The equities of Daimler headed south by approximately 4.5%, BMW lost 2.8%, while Volkswagen went down by about 2.8%.
More tariffs were introduced
Yesterday, the US Justice Department announced a broad antitrust review ...
We've got some positive news for the British pound and we are awaiting the release of the core retail sales for Canada at 15:30 MT.
The tweet by Iran's foreign minister increased the possibility of tensions in the region. It pushed the oil prices up.
The European trading session will be highlighted by the events for the British pound. Traders will pay special attention to the BOE meeting at 14:00 MT.