Chinese investors are selling the UST. Meanwhile, the earning season continues. What's going on in the markets?
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
Let's check the economic calendar. This week is interesting, mostly not because of the economic calendar, but because of geopolitical factors.
Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?
The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!
The US stock market fell in the third quarter. What's going on and why economists think that the last quarter will be better? Let's discuss it all here.
BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!