How to trade CAD ahead of the GDP release?
Canada will publish its monthly GDP growth rate at 15:30 MT on January 31.
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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The Bank of England’s interest rate announcement and monetary report will be out at 14:00 MT on January 30.
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How to trade CAD ahead of the GDP release?
Canada will publish its monthly GDP growth rate at 15:30 MT on January 31.
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Will the BOE manage to keep the GBP standing?
The Bank of England’s interest rate announcement and monetary report will be out at 14:00 MT on January 30.
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