Trade ideas on May 29
Let’s look at main movements on the market.
The Bank of England may support the GBP
The Bank of England will release its monetary policy summary and announce the interest rate on June 20, at 14:00 MT time.
We anticipate the BOE to keep its interest rate at 0.75%. At the same time, the hints on the possible changes to the rate by the bank will likely bring volatility to the GBP. Last week, policymakers expressed mixed views on the next steps by the BOE. Some of them are sure that the rate hike is needed soon to keep inflation pressures under control. Others mention political risk as a reason why the Bank of England is going to keep the rate on hold in the near future. Let’s wait for the final opinion on the issue by the BOE governor Mark Carney.
• If the BOE sounds positive, the GBP will go up;
• If the BOE sounds negative, the GBP will go down.
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All attention to AUD: cash rate and RBA statement
The Reserve Bank of Australia will make a statement and release the cash rate on Tuesday, June 2, at 8:30 MT time.
USD: support from the labor data
The US job market shows first signs of improvement. Will that help the USD?
Latest news
Trade ideas on May 29
Let’s look at main movements on the market.
EUR: beating the USD so far
Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
All attention to AUD: cash rate and RBA statement
The Reserve Bank of Australia will make a statement and release the cash rate on Tuesday, June 2, at 8:30 MT time.
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