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The Monetary policy committee of the Bank of England will vote on the level of interest rate and release its monetary policy summary on March 21, at 14:00 MT time.
The bank is expected to keep its interest rate unchanged at 0.75%. The main focus of traders will be on the tone of the monetary policy summary. Last time the BOE governor Mark Carney said that the central bank would provide all the necessary support for the stability of the GBP. It helped the GBP to recover. The hawkish comments during this meeting may push the GBP up.
• If the BOE is hawkish, the GBP will rise;
• If the BOE is dovish, the GBP will fall.
The risk sentiment remains under pressure after the comments by China about the countermeasures against the US tariffs. Thus, the AUD/USD and the USD/JPY pairs will be under our attention.
During the European trading session, both the US and the UK yield curves inverted.
Levels for Wednesday's trading
On Monday, crypto assets tumbled due to the fact that the Organization for Economic Cooperation and Development drew attention to the necessity of the global regulation of initial coin offerings…
German exporters demonstrate ascending optimism as for their business prospects because growing demand from other euro zone countries helps to compensate worries regarding the strengthening currency, as the Ifo economic institute told on Wednesday…
In October, Japanese machinery orders rebounded with a faster soar than anticipated, thus re-affirming the resilience of capital spending, which is a major driver in the Japanese economy's almost two-year expansion…
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