The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
How to trade GBP after Bank of England’s report?
What will happen?
The Bank of England will hold a meeting on May 6 at 14:00 MT (GMT+3). This event will be watched by many traders as it may have a significant impact on the British pound. However, we should be ready that it can be uneventful for markets as BOE Governor Bailey is likely to stick to the general phrase of all the major banks: ‘low rates until the pandemic is over.’
How to trade on BOE statement?
Follow the BOE’s meeting and try to catch the overall tone of the central bank. Besides, keep an eye on the news during the event and after it.
- If the BOE gives optimistic projections about the UK’s recovery, the GBP may rise;
- If the BOE speaks about the UK economy in a negative light, the GBP may fall.
Instruments to trade: GBP/USD, EUR/GBP, GBP/CHF, GBP/CAD
The Bank of England will announce its policy statement on December 16, Thursday, at 14:00 GMT+2 (MetaTrader time). It will affect all the pairs with the British pound.
The United Kingdom will publish the Inflation Rate on November 17, at 09:00 MT (GMT+2). How will it impact the markets?
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.