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?
The British pound may rise on the important releases
The levels of GDP growth and manufacturing production for Great Britain will be published on February 11 at 11:30 MT time. Last time the economic growth of the country outperformed the expectations and rose by 0.2%. As for the level of manufacturing production, it declined by 0.3% in the previous month. The main risks for the economy of the country and the British pound are connected with Brexit. That is why higher-than-expected indicators may help the GBP to get positive momentum.
• If the indicators are higher than the expectation, the GBP will rise;
• If the indicators are lower than the expectation, the GBP will fall.
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 US central bank, Federal Reserve, will announce its decision on further monetary policy on December 15 at 21:00 MT.
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.