The Australian economy has been on a steady recovery path, and now we have a very symbolic confirmation that S&P ASX 200 is about to cross 7000!
What does the Bank of England have to say?
The Bank of England’s Monetary Policy Summary will be announced on Thursday at 14:00 MT time.
Instruments to trade: EUR/GBP, GBP/JPY, GBP/CHF, GBP/CAD
The Bank of England lowered its interest rate by 50 bps on March 11, making it 0.25%. Coupled with the quantitative ease package, this appears to be a significant stimulus to support the British economy, which is now under the pressure of several burdens such as the virus and Brexit consequences. Amid all this, the position of the GBP generally doesn’t look too bright. Fundamentally, the market is not really impressed with the government’s reaction to the virus. Its main impression is that the UK’s lawmakers are lagging behind compared to their European colleagues who went all-in with maximum restrictions to contain the virus. That’s the main factor pushing investors away from the GBP. Possibly, the Bank of England will bring some reassuring notes from the financial side on Thursday – that would help the GBP stay afloat.
- If the bank’s mood is hawkish, the GBP appreciates;
- If the bank’s mood is dovish, the GBP drops.
Coinbase Global Inc., the leading cryptocurrency exchange in the US, will go public on the Nasdaq index on April 14!
The American inflation rate is announced on Tuesday at 15:30 MT. It’s an important event for traders as it will impact hugely currency pairs with the USD.
In this article, you'll find the latest news and tech analysis of EUR/USD, gold, and GBP/USD!