
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 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.
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 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.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
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